2020-12-31-accounts - The Friends Of St Davids Cathedral

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			Page
Report ofthe Trustees		I	to	6
Report ofthe Independent Auditors		7	to	10
Statement ofFinancial Activities
Balance Sheet			12
Notes to the Financial Statements		13	to	20
Detailed Statement ofFinancial	Activities	21	to	22

Chair		The Very Reverend Dr	The Very Reverend Dr	Sarah Rowland Jones	Sarah Rowland Jones	Sarah Rowland Jones
Council		The Venerable D.P.Davies
		Canon P.W. Davies	(retired 25th July 2020)
		Canon J.Gainer
		Canon J.Lewis
		The Venerable P. Mackness
		Canon L.L.Richardson
		Canon M.H. Rowlands		(appointed 30th July 2020)
Elected	Members	Arwel Davies Esq. LL.B.
		Mrs L.Marriott
		Paul L.Evans Esq.
		Mr J.Rose
		Mrs J.Kitchell
		Mr W.A.G.Black (appointed			to vacancy,	12th September 2020)
All members	ofthe executive	committee act as Trustees ofthe		charity
Bankers		Lloyds Bank pic
		StDavids
		Haverfordwest
		Pembrokeshire
Investment	advisors	Brewin Dolphin
		I2 Smithfield Street
		London
		ECIA 9BD
Auditors		Ashmole &Co
		Chartered Certified Accountants			&Registered		Auditors
		Williamston House
		7 Goat Street
		Haverfordwest
		Pembrokeshire

				31.12.20	31.12.19
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes
FIXEDASSETS
Tangible assets	11	1,555,672		1,555,672	1,556,892
Investments
Investments	12	1,345,312		1,345,312	1,282,874
Investment property	13	909,001		909,001	909,001
		3,809,985		3,809,985	3,748,767
CURRENT ASSETS
Debtors	14	3,958		3,958	3,592
Cash at bank		87,260	7,650	94,910	130,916
		91,218	7,650	98,868	134,508
CREDITORS
Amounts falling due within one year	15	(8,817)		(8,817)	(3,826)
NET CURRENT ASSETS		82,401	7,650	90,051	130,682
TOTAL ASSETSLESSCURRENT
LIABILITIES		3,892,386	7,650	3,900,036	3,879,449
NET ASSETS		3,892,386	7,650	3,900,036	3,879,449
FUNDS	16
Unrestricted funds				3,892,386	3,876,445
Restricted funds				7,650	3,004
TOTAL FUNDS				3,900,036	3,879,449

5.	CHARITABLE ACTIVITIES COSTS
			Grant
			funding of
			activities	Support
		Direct	(see note	costs (see
		Costs f	6) f.	note 7)	Totals
	StDavids Cathedral	25,020	112,971	2,640	140,631
6.	GRANTS PAYABLE
				31.12.20	31.12.19
	StDavids Cathedral			112,971	76,114

	f	f	or the	Year Ended 31December 2020
GRANTS PAYABLE -	continued
The total grants paid to institutions			during	the year was as follows:
					31.12.20	31.12.19
						f
Choral Scholar Donation					8,370	7,625
Chair Appeal Donation					3,004
Festival Sponsorship					10,000	3,000
Choir Donation						295
Contribution to Cathedral	StaffCosts				22,000	21,084
Contribution to Flowers Expenditure						1,270
Contribution to Vestments	and	Canon's Verge				10,440
Contribution to Remedial	Repairs				26,118	22,000
Contribution to Cathedral	Library					10,000
Contribution to CD recording						400
Ty'r Pererin Covid-19 Grant					11,000
Contribution to Covid related		support			30,000
Contribution to live streaming		equipment			2,479
					112,971	76,114
SUPPORT COSTS
						Governance
						costs
StDavids Cathedral						2,640

14.	DEBTORS:	A	MOUNTS FALL	ING DUE WITHIN ONE Y	EAR
						31.12.20	31.12.19
						f.
	Trade debtors					3,958	3,592
15.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE				YEAR
						31.12.20	31.12.19
						f.
	Other creditors					8,817	3,826
16.	MOVEMENT		IN FUNDS
						Net
						movement	At
					At 1.1.20	in funds	31.12.20
						f,	f
	Unrestricted	funds
	General fund				3,876,445	15,941	3,892,386
	Restricted funds
	Chairs Appeal				3,004	(3,004)
	Legacy - GC	Shaw				7,650	7,650
					3,004	4,646	7,650
	TOTALFUNDS				3,879,449	20,587	3,900,036
	Net movement		in funds, included	in the above are as follows:
				Incoming	Resources	Gains and	Movement
				resources	expended	losses	in funds
	Unrestricted	funds
	General fund			90,579	(147,735)	73,097	15,941
	Restricted funds
	Chairs Appeal				(3,004)		(3,004)
	Legacy - GC Shaw			7,650			7,650
				7,650	(3,004)		4,646
	TOTALFUNDS			98,229	(150,739)	73,097	20,587

			Incoming	Resources	Gains and	Movement
			resources	expended	losses	in funds
			g
Unrestricted		funds
General	fund		91,545	(104,221)	165,695	153,019
TOTAL	FUNDS		91,545	(104,221)	165,695	153,019

			Incoming	Resources	Gains and	Movement
			resources	expended 8	losses	in funds I
Unrestricted		funds
General	fund		182,124	(251,956)	238,792	168,960
Restricted funds
Chairs	Appeal			(3,004)		(3,004)
Legacy	- GC	Shaw	7,650			7,650
			7,650	(3,004)		4,646
TOTALFUNDS			189,774	(254,960)	238,792	173,606

			Friends ofSt Davids Cathedral
			Detailed Statement ofFinancial Activities
			for the Year Ended 31December 2020
				31.12.20	31.12.19
INCOME AND ENDOWMENTS
Donations and legacies
Gills and donations				9,867	9,169
Gilt aid				3,958	3,592
Legacies				7,650	4,492
Government grants				11,000
Subscriptions				16,550	15,752
				49,025	33,005
Investment income
Rents received				28,600	28,526
Other fixed asset inv income				20,510	29,160
Deposit account interest				94	165
				49,204	57,851
Other income
Friends Dinner / Tea					689
Total incoming resources				98,229	91,545
EXPENDITIIRE
Investment management		costs
Portfolio management				7,367	9,386
Property repairs				2,741	1,688
				10,108	11,074
Charitable activities
Licenses and insurance				2,650	2,575
Printing, postage &stationery				7,629	4,172
Professional Fees				1,024
Sundries				239	858
Property repairs				9,519	433
Secretary honorarium					1,117
Assistant treasurer honorarium				2,665	2,582
Cost ofFriends Dinner	/ Tea			74	1,332
Computer equipment				1,220	1,264
Grants to institutions				112,971	76,114
				137,991	90,447

	Detailed Statement ofFinancial Activities
	for the Year Ended 31December 2020
		31,1220	31.12.19
Support costs
Governance costs
Auditors' remuneration		960	960
Accounting fees		1,680	1,740
		2,640	2,700
Total resources expended		150,739	104,221
Net expenditure before gains and losses		(52,510)	(12,676)
Realised recognised	gains and losses
Realised gains/(losses)	on fixed asset investments	73,097	165,695
Net income		20,587	153,019