| Page | |||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 6 |
| Report ofthe Independent Auditors |
7 | to | 9 |
| Statement ofFinancial Activities | 10 | ||
| Dalance Sheet | |||
| Notes to the Financial Statements | 12 | to | 19 |
| Detailed Statement ofFinancial Activities | 20 | to | 21 |
| Principal address | Principal address | The Deanery | |
|---|---|---|---|
| St Davids | |||
| Haverfordwest | |||
| Pembrokeshire | |||
| Officers | |||
| President | The Right Reverend | Joanna Penberthy | |
| Vice - President | Dr George Middleton | MBE - until his death on 3 September 2022 | |
| Honorary | Treasurer | Miss C Marks | |
| c/o The Deanery | |||
| StDavids | |||
| Haverfordwest | |||
| Pembrokesh ire |
|||
| Honorary | Secretary | Mr TJLlewelyn | |
| c/o The Deanery | |||
| StDavids | |||
| Haverfordwest | |||
| Pembrokeshire |
| The Very Reverend Dr Sarah C. | Rowland Jones | Rowland Jones | ||
|---|---|---|---|---|
| Council | The Venerable D.P.Davies | |||
| Canon J.P.Lewis | ||||
| The Venerable P.R.Meekness | ||||
| Canon L.L.Richardson | ||||
| Canon M.H. Rowlands | ||||
| Canon M Osborne | ||||
| Elected | Members | Mr A.B.C.Davies LL.B. | ||
| Mr P.L.Evans Esq. (stood down | 23 November | 2022) | ||
| Mrs J.D.E.Kitchell | ||||
| Mr W.A,G,Black | ||||
| Mr J.R,T.Hayward | ||||
| His Honour Judge D.W.Morgan | ||||
| Dr S.Ashtiany (elected 23 November 2022) |
||||
| All members | ofthe executive | committee act as Trustees ofthe charity | ||
| Bankers | Lloyds Bank pic | |||
| StDavids | ||||
| Haverfordwest | ||||
| Pembrokeshire | ||||
| Investment | advisors | Brewin Dolphin | ||
| 12Smithfield Street |
||||
| London | ||||
| EC1A9BD | ||||
| Auditors | Ashmole dk Co |
|||
| Chartered Certified Accountants |
dk Registered | Auditors | ||
| Williamston House |
||||
| 7Goat Street | ||||
| Haverfordwest | ||||
| Pembrokeshire |
| 31.12.22 | 31.12.21 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| Notes | ||||||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies |
29,076 | 2,000 | 31,076 | 107,956 | ||
| Investment income |
3 | 35521 | 37823 | |||
| Total | 145 779 | |||||
| EXPENDITURE ON | ||||||
| Raising funds | 4 | 28,111 | 28,111 | 38,545 | ||
| Charitable activities |
5 | |||||
| St Davids Cathedral | 137.192 | 2000 | 139192 | 41 832 | ||
| Total | ~165 03 | 2000 | 167303 | 80 377 | ||
| Net gains/(losses) on investinents |
~94557) | ~94557 | ||||
| NET INCOME/(EXPENDITURE) | (195,263) | (195,263) | 135,511 | |||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought forward |
4 027 897 | 7 650 | 4 035 547 | 3900 036 | ||
| TOTAL FUNDS CARRIED FORWARD | 3,832,634 | 7,650 | 3,840,284 | 4,035,547 |
| 31D | ecember 2022 | ||||
|---|---|---|---|---|---|
| 31.12.22 | 31.12.21 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | f, | ||||
| FIXEDASSETS | |||||
| Tangible assets | 11 | 1,553,232 | 1,553,232 | 1,554,452 | |
| Investments | |||||
| Investments | 12 | 196,569 | 196,569 | 750,483 | |
| Investment property |
13 | 2 084946 | 2084946 | 1 570836 | |
| 3,834,747 | 3,834,747 | 3,875,771 | |||
| CURRENT ASSETS | |||||
| Debtors | 14 | 3,343 | 3,343 | 3,219 | |
| Cash at bank | 3 844 | 7650 | 11.494 | 161 821 | |
| 7,187 | 7,650 | 14,837 | 165,040 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
15 | ~9300 | {9300) | ~5264) | |
| NKT CURRENT ASSETS | 55 7 | 159.776 | |||
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 7 650 | 3 840 284 | 4 035547 | ||
| NKT ASSETS | ~32 4 |
~7650 | ~~4 | ||
| FUNDS | 16 | ||||
| Unrestricted funds |
3,832,634 | 4,027,897 | |||
| Restricted funds | 7 650 | 7650 | |||
| TOTAL FUNDS | 4 035 547 |
| 2. | DONATIONS AND LEG |
DONATIONS AND LEG |
ACIES | ACIES | ACIES | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| During the year the charity | received | one legacy of82000(2021:4 | legacies of670933).The charity received no | |||||||
| government | grants (2021:610,000 | was received to assist in dealing | with the impact ofthe Covid 19pandemic). | |||||||
| INVESTMENT INCOME | ||||||||||
| 31.12.22 | 31.12.21 | |||||||||
| f, | ||||||||||
| Rents received | 23,950 | 25,750 | ||||||||
| Other fixed | asset inv income | 11,319 | 11,917 | |||||||
| Deposit account interest | 252 | 156 | ||||||||
| 35 521 | 37,823 | |||||||||
| 4. | RAISING | FUNDS | ||||||||
| Investment | management | costs | ||||||||
| 31.12.22 | 31.12.21 | |||||||||
| I | ||||||||||
| Portfolio management | 3,810 | 4,984 | ||||||||
| Property repairs |
21,532 | 32,692 | ||||||||
| Maintenance | charges | 2769 | 869 | |||||||
| 28 111 | 38,545 | |||||||||
| 5. | CHARITABLE ACTIVITIES | COSTS | ||||||||
| Grant | ||||||||||
| funding of | ||||||||||
| activities | Support | |||||||||
| Direct | (see note | costs (see | ||||||||
| Costs | 6) | note 7) | Totals | |||||||
| StDavids Cathedral | ~42 | ~4 | 139,192 | |||||||
| 6. | GRANTS PAYABLE | |||||||||
| 31.12.22 | 31.12.21 | |||||||||
| StDavids Cathedral | 100800 | 26771 | ||||||||
| The total grants paid to institutions | during the | year was as follows: | 31.12.22 | 31.12.21 | ||||||
| Choral Scholar Donation | 8,400 | 8,250 | ||||||||
| Contribution | to Cathedral | Staff | Costs | 22,400 | 22,000 | |||||
| Ty'r Pererin | Covid-19 Grant | (1,000) | ||||||||
| Contribution | to live streaming | equipment | (2,479) | |||||||
| Contribution | to fit out Cathedral | House | 70 000 | |||||||
| 100800 | 26,771 |
| AUDITORS REMUNERATION | |||||||
|---|---|---|---|---|---|---|---|
| 31st | 31st | ||||||
| December | December | ||||||
| 2022 | 2021 | ||||||
| Auditors Remuneration Other Service - Accounts preparation |
1,680 2160 ~4 |
1,620 1900 3 6110 |
|||||
| ANALYSIS OF NET GAINS/(LOSSES) ON INVESTMENTS | |||||||
| 31st | 31st | ||||||
| Deceinber | December | ||||||
| 2022 | 2021 | ||||||
| (Loss)/gain on disposal oflisted investments Revaluation oflisted investments |
f, (65,403) ~95 |
13,787 56322 |
|||||
| ~94 5573 | 70109 | ||||||
| TANGIBLE FIXEDASSETS | |||||||
| Fixtures | |||||||
| Freehold | and | Computer | |||||
| properly | fittings | equipment | Totals | ||||
| 6 | |||||||
| COST | |||||||
| At 1 January 2022 and 31December 2022 | 1.549 | 979 | 8 254 | ~65 | 1 | 567 892 | |
| DEPRECIATION | |||||||
| At 1 January 2022 | 8,254 | 5,186 | 13,440 | ||||
| Charge for year | 1,220 | 1 220 | |||||
| At 31December 2022 | ~854 | 6406 | 14660 | ||||
| NET BOOK VALUE | |||||||
| At 31December 2022 | 1 | 4 | 7 | 3253 | 1 | 553 232 | |
| At 31 December 2021 | 1 | 549 | 979 | ~4473 | 1 | 54 452 |
| FIXEDASSETINVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| MARKET VALIJE | |
| At 1 January 2022 | 750,483 |
| Additions | 37,473 |
| Disposals | (562,233) |
| Revaluations | ~29 154) |
| At 31December 2022 | 196569 |
| NET BOOK VALI)K | |
| At 31 December 2022 | 196569 |
| At 31December 2021 | 750483 |
| Listed | |||||
|---|---|---|---|---|---|
| investments | |||||
| Valuation | in 2022 | 22,525 | |||
| Cost | 174044 | ||||
| 196569 | |||||
| Iffixed asset investments | had not been revalued | they would have been included | at the following | historical cost | |
| 31.12.22 | 31.12.21 | ||||
| f | |||||
| Cost | 174044 | 569017 |
| INVESTMENT PROPERTY | |
|---|---|
| FAIR VALUE | |
| At I January 2022 | 1,570,836 |
| Additions | 514110 |
| At 31December 2022 | 2.084 46 |
| NET BOOKVALUE | |
| At 31 December 2022 | 2084 46 |
| At 31 December 2021 | I 570 836 |
| 14. | DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 31.12.22 | 31.12.21 | ||||||
| Trade debtors | 3343 | 3219 | |||||
| 15. | CREDITORS: | AMOUNTS II'ALLING DIJEWITHIN ONE YEAR | |||||
| 31.12.22 | 31.12.21 | ||||||
| I | |||||||
| Other creditors | 9300 | ~5264 | |||||
| 16. | MOVEMENT | IN FUNDS | |||||
| Net | |||||||
| movement | At | ||||||
| At | 1.1.22 | in funds | 31.12.22 | ||||
| f | |||||||
| Unrestricted | funds | ||||||
| General fund |
4,027,897 | (195,263) | 3,832,634 | ||||
| Restricted funds | |||||||
| Legacy - GC Shaw | 7,650 | 7,650 | |||||
| TOTAL FUNDS | 4035 547 | (195,263) | 3,840,284 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| f. | f | f | ||||
| Unrestricted | funds | |||||
| General fund | 64,597 | (165,303) | (94,557) | (195,263) | ||
| Restricted funds |
||||||
| Legacy - GC | Rokkan | 2,000 | (2,000) | |||
| TOTALFUNDS | 66.597 | (167,303) | (94,557) | (195,263) | ||
| Comparatives | for movement | in funds | ||||
| Net | ||||||
| movement | At | |||||
| At 1.1.21 | in funds | 31.12.21 | ||||
| f | f. | |||||
| Unrestricted | funds | |||||
| General fund |
3,892,386 | 135,511 | 4,027,897 | |||
| Restricted funds | ||||||
| Legacy - GC | Shaw | 7650 | 7 650 | |||
| TOTAL FUNDS | 3 03 |
~45 547 |
| Incoming | Resources | Gains and | Movement | |||
|---|---|---|---|---|---|---|
| resources | expended | losses | in funds | |||
| f. | f. | f, | ||||
| Unrestricted | funds | |||||
| General | fund | 145,779 | (80,377) | 70,109 | 135,511 | |
| TOTAL | FUNDS | 145779 | 80 377 | 70 109 | 135511 |
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1.1.21 | in funds | 31.12.22 | ||
| f | ||||
| Unrestricted | funds | |||
| General fund |
3,892,386 | (59,752) | 3,832,634 | |
| Restricted funds | ||||
| Legacy - GC | Shaw | 7,650 | 7,65C | |
| TOTAL FUNDS | 3 900.036 | ~59752) | 3 840 284 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources f |
expended | losses | in funds f |
||
| Unrestricted | funds | ||||
| General fund |
210,376 | (245,680) | (24,448) | (59,752) | |
| Restricted funds | |||||
| Legacy - GC | Rokkan | 2,000 | (2,000) | ||
| TOTAL FUNDS | 212 376 | (247,680) | (24,448) | (59,752) |
| for the Year Ended 31 | December 2022 | |||
|---|---|---|---|---|
| 31.12.22 | 31.12.21 | |||
| f | I | |||
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies |
||||
| Gifts and donations | 9,955 | 8,711 | ||
| Gift aid | 3,343 | 3,219 | ||
| Legacies | 2,000 | 70,933 | ||
| Government grants |
10,000 | |||
| Subscriptions | 15 778 | 15093 | ||
| 31,076 | 107,956 | |||
| Investment income |
||||
| Rents received | 23,950 | 25,750 | ||
| Other fixed asset inv | income | 11,319 | 11,917 | |
| Deposit account interest | 252 | 156 | ||
| 35 521 | 37823 | |||
| Total incoming resources |
66,597 | 145,779 | ||
| EXPENDITURE | ||||
| Investment management |
costs | |||
| Portfolio management | 3,810 | 4,984 | ||
| Property repairs |
21,532 | 32,692 | ||
| Maintenance charges |
2 769 | 869 | ||
| 28,111 | 38,545 | |||
| Charitable activities |
||||
| Licenses and insurance | 3,032 | 2,753 | ||
| Printing, postage &stationery |
8,090 | 3,355 | ||
| Professional Fees |
1,618 | |||
| Sundries | 247 | 184 | ||
| Property repairs |
6,625 | 1,284 | ||
| Assistant treasurer honorarium |
3,098 | 2,665 | ||
| Friends 90th Anniversary | Event | 5,212 | ||
| Friends 90th Anniversary | book | 5,250 | ||
| Computer equipment |
depreciation | 1,220 | 1,220 | |
| Grants to institutions | 100800 | 26 771 | ||
| 135,192 | 38,232 | |||
| Support costs | ||||
| Governance costs |
||||
| Auditors' remuneration |
1,680 | 1,620 | ||
| Sundries | 160 | |||
| Accounting fees |
2 160 | 1 980 | ||
| 4,000 | 3,600 |
| for the Year Ended 31December 20 | 22 | |||
|---|---|---|---|---|
| 31.12.22 | 31.12.21 | |||
| f. | ||||
| Total resources expended |
167303 | 60 377 | ||
| Net (expenditure)/income | before gains and | |||
| losses | (100,706) | 65,402 | ||
| Realised recognised gains |
and losses | |||
| Realised and unrealised gains/(losses) |
on fixed asset investments | ~94 557) | 70 109 | |
| Net (expenditure)/income | (195263) | 135,511 |