Company Registration Number - 173908
The Charity Registration Number is :- 248192
The Welsh Baptist Union Corporation Limited
Report and Accounts
31 December 2022
Cross & Bowen Chartered Certified Accountants 11 Calvert Terrace Swansea SA1 6AT
The Welsh Baptist Union Corporation Limited
Report and accounts for the year ended 31 December 2022
Contents
| Page | ||
|---|---|---|
| Charity information | 1 | |
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 9 | |
| Independent Accountant's Report | 11 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 13 | |
| Statement of Financial Activities - Prior Year statement | 14 | |
| Statement of total recognised gains and losses | 15 | |
| Movements in funds | 16 | |
| Revenue Funds | 16 | |
| Income and Expenditure account | 17 | |
| Summary of funds | 16 | |
| Balance sheet | 18 | |
| Cash flow statement | 20 | |
| Notes to the accounts | 22 |
The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
The Trustees present their Report and Accounts for the year ended 31 December 2022, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name.
The legal name of the charity is:- The Welsh Baptist Union Corporation Limited.
The charity is also known by its operating name, Corfforaeth Undeb Bedyddwyr Cymru (Cyf). The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 248192. The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
The governing document is dated 24 March 1921 There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
The principal operating address, telephone number, email and web addresses of the charity are:-
Y Llwyfan Heol y Coleg, Caerfyrddin Sir Gâr, SA31 3EQ Telephone 0345 222 1514
Email Address post@ubc.cymru Web address www.buw.wales
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
The Trustees in office on the date the report was approved were:-
Rev. P.M. Thomas Mr. H.B. Tribe Rev. I.C. Roberts Rev. D.M. Owen Mr. F.H. Maull Mr. L. John Mr. W. Davies Rev. Judith A. Morris Mr. Glyndwr S. Prideaux Mr. David Evans Rev. I.E. Jones Rev. Susan J. Phillips Miss Aldyth Williams
The following persons served as Trustees during the year ended 31 December 2022 :-
The trustees who served as a trustee in the reporting period, and, if applicable, their dates of appointment or resignation during the year were:-.
Date appointed Date resigned Rev. P.M. Thomas Mr. H.B. Tribe Rev. I.C. Roberts Rev. D.M. Owen Mr. F.H. Maull Mr. L. John Mr, W. Davies Rev. Judith A. Morris Mr. Glyndwr S. Prideaux Mr. David Evans Rev. I.E. Jones Rev. Susan J. Phillips Miss Aldyth Williams
All the directors of the company are also trustees of the charity, and their responsibilities include all the responsibilities of directors under the Companies Acts and of trustees under the Charities Acts.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The object of the charity is the provision of administrative and custodial trustee support services to Baptist Union of Wales funds and member churches, thereby contributing to the furtherance of the Gospel of Christ in accordance with the principles of the Baptists.
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
The main activities undertaken in relation to those purposes during the year.
During 2022 the main activities have been:
Custodial trustee services, services in relation to properties and trusts and work undertaken specifically in relation to church closures.
The short term and longer term aims and objectives.
The charity operates by providing legal and administrative support services to the Union and to its member churches. It provides the vehicle by which the Women's Movement (Mudiad y Chwiorydd) of the churches has realised its vision of providing residential care for the elderly at the Welsh Baptist home at Glyn Nest, Newcastle Emlyn.
In the course of their management of the charity, the directors have regard for the public benefit provided and supported by the charity's activities, and this is a feature both of the charity's work in support of member churches and of its own direct activities, as follows:
1. Through supporting Baptist Union of Wales member churches
Member churches provide public benefit through normal church activities, including (but not restricted to) provision of public worship opportunities, as well as other benefits such as provision of church halls for meetings of local groups, of cemeteries used by the wider community, children's holiday clubs, Sunday schools, youth work, group and personal acts of kindness in the community, including care of the sick, dying, and bereaved, counselling, debt counselling, provision of food banks, luncheon clubs and cafés. In addition, Union support to churches includes assisting churches in complying with statutory requirements for safeguarding vulnerable individuals, with a view to ensuring both the prevention of harm and adoption of good practice. Direct support to member churches takes the form of legal support, custodian trustee services, and, via the Baptist Building Fund for Wales, provision of discretionary interest-free loans to churches (and other Baptist Union of Wales causes) for building projects.
The charity provides support services to the Baptist Union of Wales.
a) Union support for churches, whether by direct financial grant towards ministerial stipends or specific projects, measured according to need, or by encouragement, or administrative and legal support, facilitates the public benefits provided by supported member churches. Payment of the member church contribution by a church for a year (set at £18.00 per reported member of a church in 2022) entitles that church to all the benefits of Union membership; and in practice, apart from the right to attend the annual conference, and to be considered for financial support, the general pastoral benefits of Union membership are not usually withheld solely because membership contributions have not been paid. The decision to exclude from b) The charity's support to the Union also contributes to the Union's direct acts in provision of public benefit by the advancement of the Gospel of Christ in accordance with the principles of the Baptists, by publishing resources, both printed and digital, suitable to enhance worship and teaching, both alone and with other Christian groups;
by supporting students in ministerial training; by supporting Ministers to undertake sabbaticals; by arranging ministerial and leadership retreats, conferences and meetings;
by contributing with other groups to Christian witness in matters of social justice.
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
How the activities undertaken during the year contributed to the achievement of the aims and objectives.
During 2022, the charity continued to consider the trusteeship arrangements with directly supported member churches, with a view to identifying churches which may benefit from discussions and general advice. During the year the charity was active in 54 property trusteeships including causes and trusteeship applications (2021 -38), 11 cemetery trusts (20219) along with 4 property sale completions (2021 -6). The WBUC acts as a trustee for 143 churches.
The contribution of volunteers during the year.
The Corporation relies heavily on volunteer committee members who contribute both general knowledge of church life and specialist expertise and without which it could not operate.
Grant making policies and how these contributed to the achievement of the charity's aims and objectives during the year.
The Corporation does not have a policy of making direct grants but will consider applications in relation to new ministry and mission initiatives and how it can support such initiatives. The services provided for churches and Union are not subject to a specific charge although the WBUC makes a contribution to the costs incurred by the BUW for undertaking the work.
The main achievements and performance of the charity during the year.
During 2022, the charity continued to consider the trusteeship arrangements with member churches, with a view to identifying churches which might benefit from discussions and general advice. The charity contined to be active in property trusteeships, cemetrey trusts and property sale completions. Work was undertaken with church officers who had decided to bring the cause to an end particularly in relation to trusteeship and all other associated practical considerations. One of the main developments during the year was the establishment of a process whereby all redundant buildings (where the ultimate beneficiary was either the BUW, WBUC or BBFW) were assessed in relation to mission and commercial potential. The charity also continued to support the work of the Baptist Union of Wales during the year.
Fundraising activities during the year.
The charity relies on investment income and also receives gifts from other donors whose support is valued, and, on occasion, as ultimate beneficiary of trusts for chapel properties when finally closed for worship.
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
The difference the charity's performance during the year has made to the beneficiaries of the charity.
The performance of the Charity during the year has enabled it to continue to be able to offer interest free loans to its members as well as being able to advise and assist members in dealing with trusteeships.
The degree to which the achievements and performance during the year have benefited wider society.
Interest free loans have enabled some churches to improve their buildings so as to provide services to the community, for example lunch clubs, youth groups and playgroups. Other loans have assisted a fellowship to build a new church building and another church has been able to undertake significant refurbishment work on the manse. A loan enabled the purchase of a property for the purposes of a missional community.
The significant charitable activities undertaken in the year.
During the year the charity developed further its policy for accepting trusteeships, and it gave consideration to registration of charity land and appropriate arrangements for cemetries.
Investment performance against the investment objectives.
In the financial review section of this report there is a description of the investment policies and objectives established by the trustees and the extent to which social environmental or ethical considerations are taken into account.
The charity reviewed its Investment Policy Statement during the year and agreed to exclude fossil fuels from its investments.
The investment performance achieved against the objectives set was satisfactory.
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
The Annual General Meeting of the Corporation appoints new trustees in accordance with the rules and regulations set down within its constitution.
The policies and procedures for the induction and training of trustees.
It is planned to review the governing document of the WBUC along with the arrangements for the induction and training of Trustees.
The organisational structure of the charity and how decisions are made.
The structure of the charity is as a charitable corporation, for the benefit of the Welsh Baptist Denomination, intricately connected with BUW, and governed in accordance with its Memorandum, and Articles of Association. The charity trustees meet regularly to progress the work of the Corporation; and day to day conduct of matters in hand is carried out by the General Secretary of BUW, Corporation Co-ordinator and the assistance of BUW staff.
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
The General Secretary to whom day to day management is delegated
The name of the General Secretary to whom day to day management of the charity is delegated by the charity trustees is Reverend Judith Anne Morris, BA, MPhil, MTh.
Relationships between the charity and related parties, including its subsidiaries
The charity provides custodian trusteeship and administrative services to its related parties as well as to member churches of the Baptist Union of Wales. The related parties are the Baptist Union of Wales, Welsh Baptist Insurance Services Limited and The Baptist Building Fund for Wales.
The charity as a part of a wider network.
Links between the charity and a wider network are through the associations fostered by the Baptist Union of Wales with Baptist associations throughout the world and with other churches in Wales, for example, Cytun (Churches Together in Wales), Free Church Council of Wales, Federation of Baptists in Britain and Ireland, European Baptist Fellowship and Baptist World Alliance.
The charity's relationships with related parties.
The work of the charity is intricately linked both with its own subsidiaries, and also with the Baptist Union of Wales.
Bankers National Westminster Bank PLC Solicitors Pothecary Witham Weld, 84 Eccleston Square, Pimlico, London SW1V 1PX Investment advisors Charles Stanley, 7/8 Park Place, Cardiff CF10 3DP Independent Examiners Cross & Bowen Chartered Accountants, 11 Calvert Terrace, Swansea SA1 6AT
Financial review
The charity's financial position at the end of the year ended 31 December 2022
The financial position of the charity at 31 December 2022 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Restricted Revenue Funds Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity |
2022 £ (206,214) 729,448 626,158 1,355,606 |
2021 £ 201,740 893,531 668,289 1,561,820 |
|---|---|---|
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
Financial review of the position at the reporting date, 31 December 2022 .
The trustees consider the financial performance by the charity during the year to have been satisfactory. Specific changes in fixed assets are detailed in the notes to the accounts.
Policies on reserves.
The policy is to ensure that the Union has sufficient free and available funds to meet at least 3 months of annual budgeted expenditure. In addition the Trustees consider it is prudent to provide for a further 3 months for funding grants to churches and associations.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
Significant events which have affected the financial performance and the financial position.
Apart from the volatility of the stockmarket there have been no significant events during the year that have affected the financial performance or the financial position.
Investment policy and investment objectives.
The Charity has indicated to its investment advisors an attitude to investment balanced for capital and income, with risk limited as is appropriate for charity trustees, and with clear guidelines on sectors to be preferred or avoided because of ethical considerations.
The major risks to which the Charity is exposed and reviews and systems to mitigate them.
The major risks to which the charity is exposed are those arising from trusteeship of buildings where there are no local trustees or other individuals both willing and able to take care of the building voluntarily. This risk is mitigated by contracting with a local agent where necessary to carry out regular attendances and inspections, and also by managing down as far as is prudent the length of time during which properties are held. The appointment of two part-time Corporation Co-ordinators has been a key factor in dealing with many churches who seek advice as they face an uncertain future.
Factors likely to affect future financial performance .
Due to the charity being heavily reliant on investment income, the major factor likely to affect future financial performance is the volatility of the stock market.
Principal funding sources in the year and how these support the key objectives of the charity.
The principal funding sources for the year under review have been Resources from charitable activities, Voluntary income, and Investment income.
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
Plans For the Future
Summary of plans for the future and the trustees' perspective of the future direction of the charity.
The Union plans to instigate and promote the propagation of the Christian Gospel through ministry and mission, and to implement existing strategies as well as setting in place new developments for the future. It is also planned to provide guidance to churches in relation to trusteeships and their responsibilities. Further to the discussion commenced with the Board in relation to developing a strategic response to closed chapels so as to maximise mission opportunities for the future along with identifying new streams of income, potential properties for devleopment were identified. It is hoped that this initative will help secure Baptist witnesss for the future.
Funds held as custodian trustees on behalf of others
The Corporation is custodian trustee for trust investments of £12,319,364 (2020 - £13,426,438).
Details of The Independent Examiner
Mr. N. Davies
Member of Chartered Association of Certified Accountants
Cross & Bowen 11 Calvert Terrace Swansea SA1 6AT
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
Statement of the Directors Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate
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to presume that the charity will continue in business;
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state whether applicable accounting standards and statements of
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recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
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The Welsh Baptist Union Corporation Limited
Company Registration Number - 173908
Trustees' Annual Report for the year ended 31 December 2022
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 13 to 38.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 18 May 2023.
REVD JUDITH MORRIS, BA, MPHIL, MTH Director and Trustee
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The Welsh Baptist Union Corporation Limited
Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 December 2022
I report to the Trustees on my examination of the financial statements of the charitable company on pages 13 to 38 for the year ended 31 December 2022 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 22.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described on page 9, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
- b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
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The Welsh Baptist Union Corporation Limited
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view, which is not a matter considered as part of an independent examination;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Signed:-
Mr. N. Davies - Independent Examiner
Chartered Certified Accountant
Cross & Bowen 11 Calvert Terrace Swansea SA1 6AT
This report was signed on 18 May 2023
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The Welsh Baptist Union Corporation Limited - Statement of Financial Activities for the year ended 31 December 2022
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 December 2022, as required by the Companies Act 2006)
| Current year Unrestricted Funds 2022 £ Income & Endowments from: Donations & Legacies A1 - Charitable activities A2 25,276 Investments A4 18,787 Other A5 875 Total income A 44,938 Expenditure on: Charitable activities B2 129,821 Total expenditure B 129,821 Net gains on investments B4 (79,200) Net income for the year (164,083) Net income after transfers A-B-C (164,083) (164,083) Reconciliation of funds:- E Total funds brought forward 893,531 Total funds carried forward 729,448 SORP Ref Net movement in funds |
Current year Restricted Funds 2022 £ - - 16,632 - 16,632 2,493 2,493 (56,270) (42,131) (42,131) (42,131) 668,289 626,158 |
Current year Total Funds 2022 £ - 25,276 35,419 875 61,570 132,314 132,314 (135,470) (206,214) (206,214) (206,214) 1,561,820 1,355,606 |
Prior Year Total Funds 2021 £ 72,000 41,924 25,100 52,206 191,230 115,209 124,452 134,962 201,740 201,740 201,740 1,360,080 1,561,820 |
|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.
All activities derive from continuing operations
The notes attached on pages 22 to 38 form an integral part of these accounts.
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The Welsh Baptist Union Corporation Limited - Statement of Financial Activities for the year ended 31 December 2022
The Welsh Baptist Union Corporation Limited - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP
| Income & Endowments from: Donations & Legacies A1 Investments A4 Other A5 Total income A Expenditure on: Charitable activities B2 Total expenditure B B4 Net income for the year Transfers between funds C Net income after transfers Reconciliation of funds:- E Total funds brought forward Total funds carried forward Net movement in funds SORP Ref Net gains on investments |
Prior Year Unrestricted Funds 2021 £ 72,000 13,676 52,206 137,882 112,101 112,101 38,690 64,471 - 64,471 64,471 787,136 851,607 |
Prior Year Restricted Funds 2021 £ - 11,424 - - 11,424 3,108 3,108 96,272 104,588 - 104,588 104,588 572,944 677,532 |
Prior Year Total Funds 2021 £ 72,000 25,100 52,206 149,306 115,209 115,209 134,962 169,059 - 304,021 304,021 1,360,080 1,664,101 |
|---|---|---|---|
All activities derive from continuing operations
A Statement of Total Recognised Gains and Losses is included in these accounts as a separate primary statement
The notes attached on pages 22 to 38 form an integral part of these accounts.
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The Welsh Baptist Union Corporation Limited - Statement of Financial Activities for the year ended 31 December 2022
Statement of Total Recognised Gains and Losses for the year ended 31 December 2022
----- Start of picture text -----
2022 2021
£ £
Surplus for the year :-
Net excess of income over expenditure from operations before tax (70,744) 66,778
- -
Realised gains on disposals of social investments which are programme related
-
Realised net gains/(losses) Spare heading for realised gains and losses (9,243)
Income from operations before tax in the Statement of Financial Activites (70,744) 57,535
Add/(deduct) non income and expenditure items:-
Unrealised gains on investments (135,470) 134,962
Net Movement in funds before taxation (206,214) 192,497
Funds generated in the year as shown on Statement of Financial Activities (206,214) 192,497
The notes attached on pages 22 to 38 form an integral part of these accounts.
The Welsh Baptist Union Corporation Limited - Resources applied in the year ended 31 December
2022 towards fixed assets for Charity use:-
2022 2021
£ £
Funds generated in the year as detailed in the SOFA (206,214) 201,740
-
Resources applied on functional fixed assets (119,621)
-
Other applications of funds 9,243
Net resources available to fund charitable activities (206,214) 91,362
----- End of picture text -----
The notes attached on pages 22 to 38 form an integral part of these accounts.
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The Welsh Baptist Union Corporation Limited - Statement of Financial Activities for the year ended 31 December 2022
Movements in revenue and capital funds for the year ended 31 December 2022
Revenue accumulated funds
| Accumulated funds brought forward Closing revenue funds Summary of funds Revenue accumulated funds Recognised gains and losses before transfers |
Unrestricted Funds 2022 £ 893,531 (164,083) 729,448 729,448 Unrestricted and Designated funds 2022 £ 729,448 |
Restricted Funds 2022 £ 668,289 (42,131) 626,158 626,158 Restricted Funds 2022 £ 626,158 |
Total Funds 2022 £ 1,561,820 (206,214) 1,355,606 1,355,606 Total Funds 2022 £ 1,355,606 |
Last year Total Funds 2021 £ 1,360,080 201,740 1,561,820 1,561,820 Last Year Total Funds 2021 £ 1,561,820 |
|---|---|---|---|---|
The notes attached on pages 22 to 38 form an integral part of these accounts.
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The Welsh Baptist Union Corporation Limited - Statement of Financial Activities for the year ended 31 December 2022
The Welsh Baptist Union Corporation Limited
Income and Expenditure Account for the year ended 31 December 2022 as required by the Companies Act 2006
| Income Income from operations Income from investments, other than interest receivable Other operating income Gross income in the year before exceptional items Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Governance costs Realised losses on disposals of social investments which are programme related Realised losses on the disposal of L&B Total expenditure in the year Tax on surplus on ordinary activities Retained surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income |
2022 £ 25,276 35,419 875 61,570 61,570 127,868 4,446 - - 132,314 (70,744) - (70,744) (70,744) |
2021 £ 113,924 25,100 52,206 191,230 191,230 110,949 4,260 - 9,243 133,695 57,535 - 57,535 57,535 |
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 22 to 38 form an integral part of these accounts.
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The Welsh Baptist Union Corporation Limited - Balance Sheet as at 31 December 2022
| Note SORP Ref Fixed assets A Tangible assets 7 A2 Investments held as fixed assets 8 A4 Total fixed assets Current assets B Debtors 9 B2 Cash at bank and in hand B4 Total current assets Creditors: amounts falling due within one year 10 C1 Net current assets The total net assets of the charity Restricted funds Restricted Revenue Funds 13 D2 Unrestricted Funds Unrestricted Revenue Funds 13 D3 Designated Funds Total charity funds The total net assets of the charity are funded by the funds |
2022 £ 180,000 808,268 988,268 143,055 299,711 442,766 (75,428) 367,338 1,355,606 626,158 626,158 729,448 729,448 - 1,355,606 of the charity, as follows:- |
2021 £ 180,000 943,738 1,123,738 57,924 387,285 445,209 (7,127) 438,082 1,561,820 668,289 668,289 893,531 893,531 - 1,561,820 |
|---|---|---|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
18
The Welsh Baptist Union Corporation Limited - Balance Sheet as at 31 December 2022
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 12.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
REVD JUDITH MORRIS, BA, MPHIL, MTH
Trustee
Approved by the board of trustees on 18 May 2023
The notes attached on pages 22 to 38 form an integral part of these accounts.
19
The Welsh Baptist Union Corporation Limited
Cash Flow Statement for the year ended 31 December 2022
| Cash flows from operating activities A Cash flows from investing activities Other investment income, including rents from investments Proceeds from sale of property, plant and equipment Purchase of investments Net cash provided by investing activities B Cash flows from financing activities Net cash provided by operating activities as shown below |
2022 £ (122,993) 35,419 - - 35,419 |
2021 £ (26,728) 25,100 110,378 (186,500) (51,022) |
|---|---|---|
| Net cash provided by financing activities C Overall cash provided by all activities Cash movements Change in cash and cash equivalents from activities in the year ended 31 December 2022 Cash and cash equivalents at 1 January 2022 Change in cash and cash equivalents due to exchange rate movements A+B+C Cash at bank and in hand less overdrafts at 31 December |
- (87,574) (87,574) 387,285 - 299,711 |
- (77,750) (77,750) 465,035 - 387,285 |
20
The Welsh Baptist Union Corporation Limited
Cash Flow Statement for the year ended 31 December 2022
The Welsh Baptist Union Corporation Limited
Cash Flow Statement for the year ended 31 December 2022 - Continued
Reconciliation of net income to net cash flow from operating activities
| Net income(expenditure) as shown in the Statement of Financial Activities Adjustments for :- Write downs of investments Net unrealised losses on investment assets Dividends, interest and rents from investments Loss on the sale of Fixed and Intangible Assets Decrease in debtors Increase in creditors, excluding loans Net cash provided by operating activities A Analysis of cash and cash equivalents Cash in hand at for the year ended 31 December 2022 Notice deposits - (less than 3 months) Total cash and cash equivalents |
(206,214) - 135,470 (35,419) - (85,131) 68,301 (122,993) 2022 £ 299,711 - 299,711 |
201,740 - (134,962) (25,100) 9,243 (1,326) (76,323) (26,728) 2021 £ 387,285 - 387,285 |
|---|---|---|
The Welsh Baptist Union Corporation Limited
Cash Flow Statement for the year ended 31 December 2022 - Continued
Analysis of change in net debt
| Cash Total |
At start of year 387,285 387,285 |
Cash Flows (87,574) (87,574) |
At end of year 299,711 299,711 |
|---|---|---|---|
21
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 December 2020, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Risks and future assumptions
The accounts have been prepared on a going concern basis and the Trustees confirm that there are no key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. The charity is a public benefit entity.
Policies relating to categories of income and income recognition.
Nature of income
Gross income represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Categories of Income
Income is categorised as income from exchange transactions (contract income) and income from non-exchange transactions (gifts), investment income and other income.
Income from exchange transactions is received by the charity for goods or services supplied under contract or where entitlement is subject to fulfilling performance related conditions. The income the charity receives is approximately equal in value to the goods or services supplied by the charity to the purchaser.
Income from a non-exchange transaction is where the charity receives value from the donor without providing equal value in exchange, and includes donations of money, goods and services freely given without giving equal value in exchange.
22
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Dividends are accrued when the shareholder’s right to receive payment is established.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Accounting for deferred income and income received in advance
Where terms and conditions relating to income have not been met or uncertainty exists as to whether the charity can meet any terms or conditions otherwise within its control, income is not recognised but is deferred as a liability until it is probable that the terms or conditions imposed can be met.
Any grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance-related or other conditions that limit recognition are met.
When income from a grant or donation has not been recognised due to the conditions applying to the gift not being wholly within the control of the recipient charity, it is disclosed as a contingent asset if receipt of the grant or donation is probable once those conditions are met.
Where time related conditions are imposed or implied by a funder, then the income is apportioned to the time periods concerned,and, where applicable, is accounted for as a liability and shown on the balance sheet as deferred income. When grants are received in advance of the expenditure on the activity funded by them, but there are no specific time related conditions, then the income is not deferred.
Any condition that allows for the recovery by the donor of any unexpended part of a grant does not prevent recognition of the income concerned, but a liability to any repayment is recognised when repayment becomes probable.
Income from legacies
Income from legacies is recognised when the charity has sufficient evidence that a gift has been left to them, that where required, probate has been granted, the executor is satisfied that the property in question will not be required to satisfy claims in the estate, that it is probable that the amount will be received by the charity, and the amount to be received can be estimated with sufficient accuracy, and that any conditions attached to the legacy are either within the control of the charity or have been met.
Where a payment is received from an estate or is notified as receivable by the executors after the reporting date and before the accounts are authorised for issue but it is clear that the payment had been agreed by the executors prior to the end of the reporting period, then the amount concerned is treated as an adjusting event and accrued as income in the accounting period if receipt is probable.
Where the charity has established entitlement to a legacy but there is uncertainty as to the amount of the payment, details of the legacy aredisclosed as a contingent asset until the criteria for income recognition are met. Where a legacy is subject to the interest of a life tenant, the legacy is not recognised as income until the death of the life tenant.
If it is doubtful that full settlement of a legacy debtor will be received, then an adjustment is made to reduce the amount of the legacy debtor and legacy income rather than charging the adjustment as expenditure in the Statement of Financial Activities
23
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
Donated goods, facilities and services
Donated fixed assets are recognised at the current fair value. All such donations are recognised as donation income, and debited to fixed assets.
Donated goods that are not fixed assets are accounted for at a fair value, unless it is impractical to reliably measure the value of the donated items.
In the absence of any direct evidence of fair value of donated goods, then a value is derived from the cost of the item to the donor or, in the case of goods that are expected to be sold, the estimated resale value after deducting any anticipated costs of sales.
If it is impracticable to measure the fair value of goods donated for resale, or the costs of valuation outweigh the benefits, the donated goods are recognised as income when sold, with an equivalent amount being recognised as an expense.
The costs of goods donated for distribution to beneficiaries is deemed to be the fair value of those goods upon receipt. When the goods are distributed freely or for a nominal consideration, then the carrying amount is adjusted at the time of sale, to the value at the point of distribution and the adjustment is shown as a cost of donations made.
Donated services and facilities (including seconded staff and use of property) are included in the accounts on the basis of the value of the gift to the charity.
All donated services and facilities are recognised as donation income when received,(provided the value of the gift can be measured reliably) and recognised as an expense with an equivalent value.
Membership subscriptions
The income and any associated Gift Aid or other tax refund from a membership subscription received by the charity in the nature of a gift, is accounted for on the same basis as a donation.
The income from a membership subscription received by the charity where the subscription purchases the right to services or benefits is recognised as income from charitable activities.
Policies relating to expenditure on goods and services provided to the charity.
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
24
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
Allocating costs to activities
Direct costs that are specifically related to an activity are allocated to that activity. Shared direct costs and support costs are apportioned between activities.
The basis for apportionment, which is consistently applied, and proportionate to the circumstances, is :-
Staffing - on the basis of time spent in connection with any particular activity.
Staffing - on a per capita basis, based on the number of of people employed within any partiular activity. Premises related costs - on the proportion of floor area occupied by a particular activity.
Non specific support costs - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures
Estimation techniques used in apportioning costs - give details
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers and this is described more fully in Note0.
Policies relating to assets, liabilities and provisions and other matters.
Fixed Asset Investments
Fixed asset investments in quoted shares, traded bonds, investment properties and similar investments are shown initially at cost upon acquisition and at their market value at the balance sheet date at the end of the financial period. Investment properties are not depreciated.
Fixed asset investments in unlisted equities are shown at the balance sheet date at the best estimate of their market value, where practicable. Where valuation techniques are considered unreliable or where, in the opinion of the trustees, the costs outweigh the benefits to the users of the accounts, the investment is included at cost, and a review is undertaken at each year end as to whether the asset should be written down.
All gains on fixed asset investments, whether realised or unrealised, are included in row B4 of the Statement of Financial Activities.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Cash and bank balances
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
25
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Net surplus before tax in the financial year
| The net surplus before tax in the financial year is stated after charging:- Auditors' remuneration 5 Investment gains Unrealised gains /(losses) and writing down of carrying values Listed investments - Unrealised (79,200) Total unrealised gains/(losses) etc (79,200) Total realised and unrealised gains (79,200) Unrealised gains /(losses) and writing down of carrying values Listed investments - Unrealised 38,690 Total unrealised gains/(losses) etc 38,690 Total realised and unrealised gains 38,690 |
(56,270) (56,270) (56,270) 96,272 96,272 96,272 |
2022 £ - (135,470) (135,470) (135,470) 134,962 134,962 134,962 |
2021 £ 4,260 134,962 134,962 134,962 |
|---|---|---|---|
6 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
26
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
7 Tangible fixed assets
| Current Year Cost At 1 January 2022 At 31 December 2022 Depreciation At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 Prior Year Cost 01 January 2021 Disposals 31 December 2021 Depreciation Net book value 31 December 2021 31 December 2020 |
Land and Buildings £ 180,000 180,000 - 180,000 180,000 Land and Buildings £ 299,621 (119,621) 180,000 180,000 299,621 |
Plant & Machinery £ - - - - - Plant & Machinery £ - - - - - |
Motor Vehicles £ - - - - - Motor Vehicles £ - - - - - |
Total £ 180,000 180,000 - 180,000 180,000 Total £ 299,621 (119,621) 180,000 180,000 299,621 |
|---|---|---|---|---|
27
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
8 Investments held as fixed assets
| Carrying values of investments At 1 January 2022 Revaluation at 31 December 2022 At 31 December 2022 Analysis between fair value and historical cost Investments as above held at fair value 9 Debtors Other debtors 10 Creditors: amounts falling due within one year Accruals Other creditors 11 Income and Expenditure account summary At 1 January 2022 Surplus after tax for the year At 31 December 2022 |
Investments in subsidiaries £ 23 - 23 23 |
Listed investments £ 943,715 (135,470) 808,245 808,245 |
Other Classes of Investment £ - - - - 2022 £ 143,055 2022 £ 540 74,888 75,428 2022 £ 1,417,615 (70,744) 1,346,871 |
Total £ 943,738 (135,470) 808,268 808,268 2021 £ 57,924 2021 £ 510 6,617 7,127 2021 £ 1,360,080 57,535 1,417,615 |
|---|---|---|---|---|
28
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
12 Particulars of how particular funds are represented by assets and liabilities
| At 31 December 2022 Tangible Fixed Assets Fixed asset investments Current Assets Current Liabilities At 1 January 2022 Tangible Fixed Assets Fixed asset investments Current Assets Current Liabilities |
Unrestricted funds £ - 472,547 331,789 (74,888) 729,448 Unrestricted funds £ - 551,747 348,401 (6,615) 893,533 |
Designated funds £ - Designated funds £ - |
Restricted funds £ 180,000 335,721 110,977 (540) 626,158 Restricted funds £ 180,000 391,991 96,808 (510) 668,289 |
Total Funds £ 180,000 808,268 442,766 (75,428) 1,355,606 Total Funds £ 180,000 943,738 445,209 (7,127) 1,561,820 |
|---|---|---|---|---|
13[Change in total funds over the year as shown in Note 12 , analysed by individual funds]
| Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Restricted funds:- Retirement Homes Fund Total restricted funds Total charity funds |
Funds brought forward from 2021 £ 893,531 893,531 668,289 668,289 1,561,820 |
Movement in funds in 2022 See Note 14 £ (164,083) (164,083) (42,131) (42,131) (206,214) |
£ - - - - - Transfers between funds in 2022 |
Funds carried forward to 2023 £ 729,448 729,448 626,158 626,158 1,355,606 |
|---|---|---|---|---|
29
The Welsh Baptist Union Corporation Limited
Notes to the Accounts for the year ended 31 December 2022
14 Analysis of movements in funds over the year as shown in Note 13
| Unrestricted and designated funds:- Unrestricted Revenue Funds Restricted funds:- Retirement Homes Fund |
Income 2022 £ 44,938 16,632 61,570 |
Expenditure 2022 £ (129,821) (2,493) (132,314) |
Other Gains & Losses 2022 £ (79,200) (56,270) (135,470) |
Movement in funds 2022 £ (164,083) (42,131) (206,214) |
|---|---|---|---|---|
15 The purposes for which the funds as
Unrestricted and designated funds:-
The Welsh Baptist Union Corporation
This fund has arisen from gifts and of proceeds of sale of church property in accordance with title deed provisions. The fund exists to facilitate all the work of the Union particularly with reference to legal services in accordance with the constitution, but without formal restriction.
Restricted funds:-
The RG Thomas Fund
Matilda Williams, Y Faenol Fund
The A.G. Jones, Godrebryn Fund
This fund arose by bequest and exists to provide accommodation for retired Welsh Baptist ministers.
This is a restricted fund which arose by bequest and exists to subsidise the cost of provision of a particular property as accommodation for a retired Welsh Baptist This is a restricted fund which arose by bequest and exists to provide accommodation for a retired Welsh Baptist Minister.
16 Ultimate controlling party
The charity is incorporated under the Companies Act and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.
30
The Welsh Baptist Union Corporation Limited
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
17 Donations, Grants and Legacies
| 18 Income from charitable activities - Trading Activities Current year Primary purpose and ancillary trading Total private sector revenue grants Revenue grants and donations from non public bodies Total Primary purpose and ancillary trading Moreia Aberystwyth Commission Received - charitable activities |
Current year Unrestricted Funds 2022 £ - - Current year Unrestricted Funds 2022 £ 25,276 25,276 |
Current year Restricted Funds 2022 £ - - Current year Restricted Funds 2022 £ - - |
Current year Total Funds 2022 £ - - Current year Total Funds 2022 £ 25,276 25,276 |
Prior Year Total Funds 2021 £ 72,000 72,000 Prior Year Total funds 2021 £ 41,924 41,924 |
|---|---|---|---|---|
31
The Welsh Baptist Union Corporation Limited
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
19 Total Income from charitable activities
| Current year Total income from charitable trading Total from charitable activities A2 20 Investment income Property Rental Income Other Investment Income Total investment income A4 Investment income - Prior Year analysis Prior Year |
Current year Unrestricted Funds 2022 £ 25,276 25,276 Current year Unrestricted Funds 2022 £ - 18,787 18,787 Unrestricted Funds 13,676 |
Current year Restricted Funds 2022 £ - - Current year Restricted Funds 2022 £ 3,800 12,832 16,632 Restricted Funds 11,424 |
Current year Total Funds 2022 £ 25,276 25,276 Current year Total Funds 2022 £ 3,800 31,619 35,419 Total Funds 25,100 |
Prior Year Total Funds 2021 £ 41,924 41,924 Prior Year Total Funds 2021 £ 3,800 21,300 25,100 |
|---|---|---|---|---|
32
The Welsh Baptist Union Corporation Limited
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
21 Other income and gains
| Current year Total other income A5 Sundry other income Proceeds from closed chapels |
Current year Unrestricted Funds 2022 £ 229 646 875 |
Current year Restricted Funds 2022 £ - - - |
Current year Total Funds 2022 £ 229 646 875 |
Prior Year Total Funds 2021 £ 248 51,958 52,206 |
|---|---|---|---|---|
22 Expenditure on charitable activities - Direct spending
| Current Year Total direct spending B2a Other donations and subscriptions |
Current year Unrestricted Funds 2022 £ 59,493 59,493 |
Current year Restricted Funds 2022 £ - - |
Current year Total Funds 2022 £ 59,493 59,493 |
Prior Year Total Funds 2021 £ 65,423 65,423 |
|---|---|---|---|---|
33
The Welsh Baptist Union Corporation Limited
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
23 Support costs for charitable activities
| Current Year Employee costs not included in direct costs Premises Expenses Administrative overheads Professional fees paid to advisors other than the auditor Financial costs Support costs before reallocation Total support costs - Current Year Prior Year Travel and subsistence - staff Co-ordinator funding Rates and water charges Property insurance Sundry expenses General administration costs Other legal and professional Rates and water charges Total support costs - Prior Year Bank charges Legal fees Property insurance Travel and subsistence - staff Premises repairs, renewals and maintenance Cemetery costs General administration costs Co-ordinator funding Legal fees Premises repairs, renewals and maintenance Sundry expenses Other legal and professional |
Current year Unrestricted Funds 2022 £ 1,123 46,948 - - - 5,542 35 - or examiner 11,936 - 298 65,882 65,882 Prior Year Unrestricted Funds 2,021 £ 1,072 36,610 - - - 40 - 4,440 - 42,418 |
Current year Restricted Funds 2022 £ - - - 210 284 - - 1,384 - 615 - 2,493 2,493 Prior Year Restricted Funds 2,021 £ - - 575 135 547 - 1,341 - 510 3,108 |
Current year Total Funds 2022 £ 1,123 46,948 - 210 284 5,542 35 1,384 11,936 615 298 68,375 68,375 Prior Year Total Funds 2021 £ 1,072 36,610 575 135 547 40 1,341 4,440 510 45,526 |
Prior Year Total Funds 2021 £ 1,072 36,610 575 135 547 - 40 1,341 4,440 510 256 45,526 45,526 - |
|---|---|---|---|---|
34
The Welsh Baptist Union Corporation Limited
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
| 24 Other Expenditure - Governance costs Current Year Independent Examiner's fees Auditor's fees Total Governance costs |
Current year Unrestricted Funds 2022 £ 4,446 - 4,446 |
Current year Restricted Funds 2022 £ - - - |
Current year Total Funds 2022 £ 4,446 - 4,446 |
Prior Year Total Funds 2021 £ - 4,260 4,260 |
|---|---|---|---|---|
| 25 Total Charitable expenditure Current Year Total direct spending B2a Total support costs B2d Total Governance costs B2e Total charitable expenditure B2 Prior Year Total direct spending B2a Total support costs B2d Total Governance costs B2e Total charitable expenditure B2 |
Current year Unrestricted Funds 2022 £ 59,493 65,882 4,446 129,821 Prior Year Unrestricted Funds 2021 £ 65,423 42,418 4,260 112,101 |
Current year Restricted Funds 2022 £ - 2,493 - 2,493 Prior Year Restricted Funds 2021 £ - 3,108 - 3,108 |
Current year Total Funds 2022 £ 59,493 68,375 4,446 132,314 Prior Year Total Funds 2021 £ 65,423 45,526 4,260 115,209 |
Prior Year Total Funds 2021 £ 65,423 45,526 4,260 115,209 |
|---|---|---|---|---|
35
The Welsh Baptist Union Corporation Limited
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
26 Gains and losses on fixed asset disposals and summary of impairments
| Total losses B3 Prior year 27 Total of other expenditure Current Year Non charity expenditure Total other expenses and costs Total taxation costs Total other expenditure B3 Prior Year Total other expenses and costs Total other expenditure B3 Realised losses on the disposal of L&B Realised losses on the disposal of L&B |
- - Prior Year Unrestricted Funds 2021 £ - - Current year Unrestricted Funds 2022 £ - - - - Prior Year Unrestricted Funds 2021 £ - - |
- - Prior Year Restricted Funds 2021 £ 9,243 9,243 Current year Restricted Funds 2022 £ - - - - Prior Year Restricted Funds 2021 £ 9,243 9,243 |
- - Prior Year Total Funds 2021 £ 9,243 9,243 Current year Total Funds 2022 £ - - - - Prior Year Total Funds 2021 £ 9,243 9,243 |
9,243 9,243 Prior Year Total Funds 2021 £ - 9,243 - 9,243 |
|---|---|---|---|---|
36
The Welsh Baptist Union Corporation Limited
Activity analysis of Income and expenditure for the for the year ended 31 December 2022
This analysis is classsified by activity and not by conventional nominal descriptions.
| 28 Analysis of income by activity SOFA ref Fee re sale of Chapels Summary of Total Income, including the items above Charitable activities A2 Donations & Legacies A1 Investment income A4 Other income A5 Total income as shown in the SOFA A Categories of income Income from exchange transactions Income from charitable activities Activity |
2022 £ 25,276 25,276 - 35,419 875 61,570 61,570 |
2021 - 41,924 41,924 72,000 25,100 52,206 191,230 191,230 |
|---|---|---|
37
The Welsh Baptist Union Corporation Limited
Activity analysis of Income and expenditure for the for the year ended 31 December 2022 29 Analysis of charitable expenditure by activity
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Activity|
|Direct costs|Support|Grant|
|costs|funding of|Total|Total|
|activities|
|2022|2022|2022|2022|2021|
|£|£|£|£|£|
|Religious activities|
|Direct costs|59,493|-|-|59,493|65,423|
|-|-|
|Employee costs not included in direct costs|48,071|48,071|37,682|
|-|-|
|Premises expenses|6,036|6,036|1,257|
|Administrative overheads|-|1,419|-|1,419|1,381|
|Professional fees|-|12,551|-|12,551|4,950|
|Financial costs|-|298|-|298|256|
|Total Religious activities|59,493|68,375|-|127,868|110,949|
|Summary of charitable costs by activity|
|Direct costs|Support|Grant|
|costs|funding of|Total|Total|
|activities|
|2022|2022|2022|2022|2021|
|£|£|£|£|£|
|-|
|Total Religious activities|59,493|68,375|127,868|110,949|
|Total Governance costs as detailed in Note|-|4,446|-|4,446|4,260|
|24|Total charitable expenditure|59,493|72,821|-|132,314|115,209|
|Analysis of support and governance costs by charitable activities|
|Governance|Finance|Human|Other|Total|
|Activity|Resources|Overheads|
|Religious activities|4,446|298|48,071|20,006|72,821|
|Grand Total|4,446|298|48,071|20,006|72,821|
----- End of picture text -----
30 Analysis of non charitable expenditure by activity
----- Start of picture text -----
||||
|---|---|---|
|Activity|
|Religious activities|
|Governance|Governance|
|Governance costs|
|costs|costs|
|2022|2021|
|£|£|
|Other Expenditure - Governance costs as detailed in Note 24|4,446|4,260|
----- End of picture text -----
38