Canolf( Hyfforddi Coleg y Bala (Registered Charity Number 524277) Annual Report For the year ended 31 December 2023
Canolfan Hffjorddi Coleg y Bala Annual reportfor the year ended 31 December 2023 ContenLs Vages l£gal and administratiTrT infonnatio Report ofthe truslees StatemerLt of trustees, responsibilities Independellt audito, report ststement of fiThaneia] actTrTities Balance sheet Notes to the finatLLidl st¢Ltements 10-13
Canolfan Hyfforddi Coleg y Bala Legal and administrative iTrformation Constitution Qallolf Hffjorddi Coleg y Bala ("the College-), is an un1ll(x>rwrda orgatjisation and a retered cbarity (No 524277). Ttee8 I'lie trustees of the Cvllege were in office durillg the yeai and up Lo ihe date of signing tbe financial statements were.. RevNTan Pffivell-Davie8 Mi Hywel DaleS (SeLreLary) Rey Ilusy Powell-Diivies Ichairman) Re.vF,myrWllliams {appointed 12 July 2023) RevBryn Ivilliurns Rev Hywel Fdivard5 Revoivain Da ReYTiTh Hodgin5 . GIeThd Ilavies Rev Gerwyn Ruberts R. Mike Ward Rev Huwltylan Joncs Ms Sioned Nvll]iams (lSued 21) September 2023) Underthescbeme goven)ing the Collcgv., tbe.body of maTJaging t*9.hall ennsigt when r.omplete of two ex officio ttustees, seven nomitiatfyl trtte5 and upto si¥ e(Foptrd tnLqtees. The ex officio ttustees be: the General SeL'retary i)f The Pre5brterktn ChiCh of Wales ('the chU..h,) during hi%/her appointment., the Ce.ntre. Mttnagcr of Colog TwEeca during his/her term of Olee. 1ILenoillinated man2singtrllsEeesMII be noJninated oneb}' each ofthc follomqngfrom thp. PreSbcrian Churft.h ot Wales, the GeneL31 knebI Boart the ResourcEs Depatitnent aDd Prowtics BO8, the Children and Youth 8iib-mmTnittep., thp A&sociatiou in the South: theSoCIation intELe l%()rth and the soeiatioii in dle East. A further trubtee is nomillaied by the D]rtOr of Educatioll for Giwie.dd Council. The co-opted tn)stees Mlbe appointedb}'the rnanaging trtee.. Prineipal address IndependentAllditors (4oolfan H)fforddi Coleg y Baja Swyd<]fa Iellellotia Ffuidd F&y(lan Y Bdla GTrwicdd LI23 7RY AzetsAudtt Services Ty Dv.rw limeTrec Court rdiff Cate Bu8iness Park Cardiff CF23 8AB Sollcitors Bankers GlIn5 Solicitors LLP 74 bwd FaMT Barelairy Bank ple 8.5 High Ststet Illackwood NP2 Gwynead 1123 7BH
Cano]fan H)fforddi Coleg y Bala
Report of the trusteesfor the year ended
31 Deeember 2023
Tlie tru.£tces plcascd to Pfcsent theii<mniiJ Ivwrt und tlie auditedfinancial ststements for the )yedr
ended 31 Dec£mbei 202.3.
Fnfurm<ltii)n i%'ith re.$1)ecl lo trustees, ofticers andadvisor5 set ollton i)age i fornis part cif thi8 report.
'rhe fLnaIicial btAte.mviits liave been prepared Dn a guinx eonce.rn l?ttsis in compliancc Thith the
ppliccible <I('LVUlltin tndardS iIi Ilie United Kin%dom ine.Iiiding the Statement of Recommended
PractlLe ISORP).. A('.L()iiiiting ajid Reporting by charitkcs in preparing their l.'inAncial StalementE in
aceordance slith the Finaricial Reporting stallda IFRS) &ppljrel?l)le. in the L'K and Republic of
Ireland (FRS io?).
Status and objectives
The Collcgc is 47 yOlIth (2nd eJ)ildre.n'.% eentre owncd b). The PrcsberI Cliurd2 of MTaies aod is
aarn1nteed as a sepiifirytplv rp.gi%tei'ea didllts. T]ie yuiyose of tile College is to atrauKe Cuut iliat
Ivlluw Bibliea] Uien)es aiid involi'e groupwo)rkbULh ds Lirdrna. cr¢ift and LTrl)tdorir p1sr.%lLltactitie.. F.vtry
a%pEcI ol die i'orK of tlic College is aimed
Canolfan Hyfforddi Coleg y Bala Report of the tteeSSOr the year ended 31 December 2023 Income uenerdtion The boufLes of inLume conliuued to bc the anllual grant from The Presbyterian Church of Wales. The total income decreased from Litl7,590 in 2022 to £181.999 in 2023. The primary re8scJn for the decrea.¢p. was a decTease in the grant from the Presb}terian Chureh of Wales from £128,768 in 2022 to £105,458 in 2023, which offset an increase in eourse and residcntial fees from £32,458 ill 2022 to £44,8y6 ill 2023. Results Dllring thc }CdT, the funds of the College ha&e been used to further the College objectiiv.s. The. npt ineojning Sjnds for the year amounted to £21 (2022.. £14,795). The deer&qse ID In(*illg rp.%()iire.e% i attnlutable to the decrease iti illcome noted above together an inerease itl expenditure on charitsble artItieS from Ei72,79.5 in 2022 to £181,978 in 2023. lThe results for the year showm in the staten]cnt of fLnaJLcial aCt[tie4 on page 8. Reserves poliey 'Ihe fun8 available for use by the College are unrestricted, The trusrtees have deterilled that the iinrEbtrirlrtl fundyshouldbe atalevelto rcflcrta iiiinimum of siYD]onth'worth olexpendxtureto ensure tlje lUtU abIlir Df the Colle%e in the event of unfortheen circumstances. At 31 DeLember 2023, the le of unrestricted resee8 exceeded one yearfs worth of expenditure excluding depreciation. e trllstees are sarisfied that the fiDancial p(J8itinn at the year-end is adequate to meet the on-gning requirements. of the CvllegE Witli the Lolliiuuedsuyport olThe Pi'esbyteriail Cburcb olwajes. Following a TeNryeM' ot its centres The l¥esb)teriau CThurch of WaIes ha5 agreed for Coleg y Ba]a until the end of 2026. Risk" managcment Tht. tnJ8te&£ orc undertakiug of the current risk register, and iipdating it to reflect the Utajor risks to which the C()llege 15 exposed and its iisk management and internaj control pCedureS in order tr> ensure that b)EleD are in pluce to rnitj8ate thesè risks. Governance ofthe College Durillg 2023 the tnteeS met four times. On a ddy to Ild}, babis tbe College 15 aal15ted b}, the staff al the ColleF.e who liaise dn8el} s%ryth the tnjstees when siguficant matters arise. Public Renefit In planning and rewing itS.ILtivities the College b&s C47Dsidered the Charity Coll)mwion's gu?dantc Oll public benefit in parlicul the specific xuidance on charities for the ddvancement of religion. By order vf the truslee2S tec.. Trnstee.. Date: 18 Octciber 2024 Llate.. 18 October 2024
Canolfan H)fforddi Coleg y Bala Statement of trustees, responsibilities ttee5 are resptsThsible for preparin% the-I'riislee.s' Aiinual Re[)nrt and Uie fiiialleial staiemcnts in aecordanee ivith apylieable lai%. and Uiiitc.d Kingdnm Aceouniing Standard5 (Unitod Kingdom G'eTreralli." Aecepied Accounting Practiee). lThe law applieable to cbarities in England and Iyales requires the trustees to prepare finaJ)cial ¥tElten]ents for each finaneitil Trear whiLh %1"t d Injp %n(I fair Vie nf the qtale (Jl&ffaiL'S of dic charity dnd o)t the inLvminA resoiirLes aiid asiplic.'ation r)f resourees of the Charity ttsr that pcriod. In prepaiiiLA thest finatLeial statcincnts, thc trustees are re.qiiired to.. seleLt suitable acLuuntill¥ puliLie5 and thLll applj Lheni eonsisteiitly., observe the methods and principles in the ChdTlties SOKF,. makejud¥meELtS dnd estim tes that are i'easc>Iiable aJ)d prudciit", statc whether applicable accounting Standards, cornprisitLg FRS 102, have been followed, siibject l() an3, matv.rial deparluies ditsL,104ed aiid explailled in Lhc finaneial st3terllents,' and prepai"e the FlInCIal statements on the. soin% c.onc.ern basi% unless it is IpprOpriate to pTesume tliai ilie chariiv i%ill colltinue in business. The tFUQtee8 are responsible for kccping proper accounting recordg that discloqe Mryth reasonable aecurac} at any time the findncial positiun uf the Lharily dnd e1)le tlieiii lo ellsure thdt tht fiiiaiicial statcm(nts eompl}' IFith tbe Charities Act 2011, thp. Chiiritv (_4ccounts Reports) Kegulations 2008.'1'he)' are also responsible for safeguarding the a.%.sp.ts ttf the e.harit)" and hence ftir tdkin¥ rtr.d%l)ndl)le.stv.i)s fr)r tlie I)Itveiilion alld dctcction of fi'aud &nd other irrcgularitico 11). nraer of tht trLLsltt8 'rni8lpe.-. Iec. ... Date.. 18 OLtub¥r 2024 Date.. 18 Oclober 2024
Canolfan Hyfforddi Coleg y Bala Independent auditors, report to the trustees of Canolfan IIufforddi Coleg y Bala Opinion "e have audited thefinancial statetncnts of Canolfan Elirforddi C£)le¥ ¥ Bala forthe ended 31& DeMr 2023 h'hich Ix)mprJse the Statstnent of14nancwl ActiKtses, Balance sy¢ and not% to the finanei81 atements, including significant attounting wliut%. The financial re.wrhng framew'ork that has been a pLied in their preparation is appli(xble law and United gdom Accountin Standard 102 The Fpna7?c7al ALYepted Auxjunting Practi). In our opinion thefinancial statcrnents.. giiTe and faIreN5 of the state of the eh?riV8 aff8iTh as at 315t DeLEmber 2023, and of the chantyls meoming reUralld appbeatson ofrèsOur, including IL8 in(y)me and enditure, forthe year then ended. haveLEen prop.1Yprepared in accordan1 with United Kingdom GcnerdllyAceepted A(mllnting Prartiee. and have prepared in accordar1 willi the requirementsof the c1ltieS Act 2011. Basis for opinion We eonductsJouT audit in acc.ordance IntenLationa] sLdanIs on Auditing (UK) (ISAg (UK)) and app]i<2ble law. Our r nsibilities under those standards are fillthLr descnl)ed in theAuditolsrestK>n&bi]ities forTe audit of the financiaj state]nents loll of our re arL indLpLndent of the. (hthty. in aLa)rdll. with the etbicAI requirements that are cvantto our audit of thc fit]aneial.4totLimLintq in the UK, ineludingthe FRC'S F.thica] Stan(knrd, and Mf have fu]fJlled our other ethi(21 res nsibi]ities ill aecoidanL with these rLYJuirements. We be]ieN'e thatthe audit eNidence we%ir obtiined is sufficientand appropEiate to PTovide a b&sis r()r uur upiuiuii. CunLIusiuns relating tn going conttrn In allditillg ttle finaneial btatetnents, have conduded thatth¢ ttith, of the going concertLbasis" of acLL)un1ing in the preparation of the fitwicial statements is appropriate. B&r£d on thc workwehai'c rforn]Cd, we have not identified anymaterial uncertainties relatingto eNtnts or(r>nditioi]s that, indiNrydua]Iy OT eolleetively. ma cast signifi(2nt doubt on the d)aritJOs abi]ityto eolltinue 3s a going ()Cern for a liod ofat cast ttvelve months fro ii,hen tl)e financial statements are authorised for iwe. Ollr ro8wnsibllities dndthe rL%p()tLsllliilitics of thc ttusiees with w tr) going con(rrn are de&id in the relewdnt sections of this rert. The other IoratiOn IrnpriSeS the ]nforntiOn induded iu the tr[ee& dtllkual report, Other than the financial statements and our auditor's the other inforniation (x)ntained Mrythin the annu rt thercon. The trustees e Tesponsbi le for )rt. Ouro tsn on the financial statements dw not Cover the otlierinforiiiatioii and, ex(Ypl lo e extent o)theTh¥ise expiiut]y slaled in ourreport, i%e do not exp ati). fur of asSurle¢ LundLLSiOn thereon. Our responsibiliLv is to read the other information and, in doing , considerivhetherthe other informatloll inaterially ineonsigtent Mryth the financidl statements or our knowledge obtained in the Ix)urse of the audit or otberwise appts5 tc) be rntitL'rkilly Mi*Qate. If we identity such niatL'rial InL%)LSllnCLQ5 or appaTent ll]ateriai rni&statemeThts, i%'e are required to (letermine whetherthis gives ri to a material misstatement in the financia] siateInents thenL8elv@i. If, ba on thework we. have performtx]. we condude th3tthere is a tnaterial mi&staten]ent of this other infonnation, we are reqllid to rcportthat fatt. Wehave nothing to rew)tt in d)is regard.
Canolfan Hyfforddi Coleg y Bala
Independent auditors, report to the trustees of
Canolfan Hufforddi Coleg y Bala
tters on which we I2re reqiiirLxI to re.port b> cx('pti(>n
Ive have DothinR to rewrt in resptyt of the following rnatte.Th in relatinn to 17 the Chariti
(A(rounts and Rctx)rts) Resulatiiins 2008 rL'qui LLS lo rewrt to you if, in our opinion;
thL infornution givLn in the fiR¥j sLaleiiieiits is In(x)i]stent in an) mateTial respect
th the trstee$, report; or
S1Clent accounting reefjrds haiE not been kept,. or
th@. c.h<iriti's finan<i&il stdlLinLIkLs e nol in agreernent with the aecounting records and
we have iiot received all thc information and explanations we TequiTe for ouraudit.
RL%TM)nsibiliti&% ()f trustees
As explained llY in thc trteeS Teswnsibilities stalemellt set out on page 4 the tn]5tees
are i'esponsible fortlie pL'eparation ofthe financiaj statenients and for Satisfied that they
E a true
Canolfan Hyfforddi Coleg y Bala Independent auditors, report to the trustees off Canoffan Hufforddi Coleg y Bala • ReeNIng minutes ijfMeetin ofthose dwEed with governance; .As5es8illg the extent of Complian ivith the lai¥s and regulations consiaeredto havc a direct tnalerid] effeLI the finLIa] stdtements. or the 0ratiOnS Df the elltity thn)Iigh enquiry and IpclOn. .Reiryewing fin2n<ial statement disclosures and testing to supporting diKutnentation to &8S p]Ice applicablelaws and relationS. .Ferformingauditworkofverthe riskof nunagementbias and override of coiitruls, illduding tesling of Journ entri(s and other adjustments foL ap rdtionale ofstgnificanttransactions outside the no ropriatene&s, th'aluating the bLisilles5 COU of busin& and accounting estilltes for indiotors of potentialbias. Because of the inherent limitations of an audit, there is a risk-thatltrE Mill not detect all irrc%ularitiEs, includingthcff leading to a rnateTial rnkatetnent in the finatkcial ststernents or llOll-COtnp]iance iith reguLatioJL 111is risk incr&eS the niore tIt eoiii liance wryth a lam.. oi resatiOn is removed froD] the 'ents and traactionS Teflected in the nancial stai[e', db we will he Ic,&s likelyto tX.beome. awAre of instsnces uf nnn-LOmplian. The risk of not detecting a matcrial miWateme.nt resulting from fraud is higher than for one resulting from error, as fralld may iniyolve )llusIo4 t0ery, intentional omissions, mjsrepresentations. or the OTrErride of illterDal conLrol. Use of our report This reportis made solety.to the charity's thLStees, as a bod!, in a(OrdanwIth Part 4 of the Charities (Accounts 2nd Reports) Regulations 2008. Our audItrkhaS been undertak'en y) that we might state. to the chariws ttstees those niatters are required to state to them in an auditor's rcwrt and for no other piww. To th?. lIe.t o.xto.nt rn]itted bs, law, Ive do not ar.pt or r&sponqibilityto anyone othe.rth.gn thp. charity and the thariW.% 1]vstees as LKd}', for audit worl foruiis rLpurL Jr lor ttie opu)ioiJb hai'c [Ured. Nl Klk £_ AtsAUdit ServiLYs CharteredAccouiitants & StatutoryAuditor DeThv Linie TrL* Courl Cardiff Gate Business Park CF23 8.4B Date". 18 Oetober 2024 Azets Audit SeTrices is eligible to act as an auditor in terms of sectioll 1212 of thL Cotnpanies Aet 2006.
Canolfan Hyfforddi Coleg y Bala Statement of finaneial activities for the year ended 31 December 2023 Note 2023 2022 Ineome from: Course and Residential Feeb SIIop 521es Grdnts f)rJnAtir>n.% Grant from Presbyterian Cfrurch of w'alp.s Sundry, illLcime 44?896 32A58 1,7J5 3,nOO 16,933 24JOIO 105?458 0,0.58 4,716 Totsl 181,999 187,590 Lxpenditure on: (A)iirses O)sts of %enerating fiinds: Shop costs 180,192 170,520 1.786 Totsl 181,978 172,795 et income 21 14,79. Reconcili&tion of fiiDds: Total fi2n% brouRht torward 241.1 226,356 Total fundb" carrica foDs'ai"d 241,172 111.1.5L All reLugnised gallts and Ic>sses ha¥e been llieluded in the Statcillent of F'iTLancial ActitieS and the aIii()unL* iT]cludcd are derivcd trom the eontinuiiig opprations uf the Cullese.. Theie is no m<lteii(Il diEfeieiiLt bet¥l'LI.11 the Iiet Inoi'einent oltunds stated aboi'e a;)d their hislJFiLdl Lust equivalviits. The notes on pages to io to 13 fortn part of thv..%e finane.i31 statements
Canolfan Hyfforddi Coleg y Bala Balance sheet as at 31 December 2023 2023 N'ote Trkned assei&' I'angble assets 89,146 86.990 Current assets Stoek Debtors and Prepayments Short tenn deposits Ca5b at bank and in hand 2,295 292 135,000 70,249 2,068 1,067 120,000 82,810 207,836 20.5,945 Creditors: amounts falling aue within one year Qweil tn The. Pwbyleriall Cljurch of Wales Sundry CTeditors Ilnd accruals 49,981 5,829 48,607 3>177 55,810 51>784 Net current assets 154U26 154.161 Total assets less CUTr¢ut liabilities ¥L,172 241,151 Total funds Tbe findncial statenjents. on pa¥es 8 to 13 were appTea by the Board of Trustees 18 0¢toir fJ024 andsigtted on its beha]t"by. Tnkstee TThtee
Canolfan Hyfforddi Coleg y Bala Notes to the financial statements for tlie year ended 31 December 2023 FriClpal accounting polieie.s Ilasis of prcparatinn The. fincinriLII 8t.2temenLq h,qie. bcen prepared on a going conLLTr bas, unJ¥.I IbL liibturi('.(Il r.()4l LonTrentiun, ani] iIi IlLLurd;ITic'e witlj the applicdble accuuiitillg %taDdaEIL< iti thc United Kingdom, the StatLnieiit of Reconitnendea Pra¢liLe IbUIiP) '.4eLoullliIig aIid Reporting b}, Charities" [effe£tle i Janiiaty 2019, FRS 102 nd in ilCC.ordance. wth the. Charitie.% .4ct 2011, lg eonsistentl} applied accounting policies. Tlie fiiiancial statements al'e prepared sleiling, whiLh is tlie IiiiLLtif)ndI LUI'rellCy ol thc charit}-. .lonetarJ amounts in these finanLial stateJnents are rounded io iiLar&4t £. Tncomc poliL lllCVm¥ frum donatiLTrilS les3eies is recoKnised on a receii'able b<lSiS whery there is sllffitieiit certainty of reLeipt an(1 ()Ithe value. t]ie. incomllig iEsourte tan be measiired iiith siiffic.ipnt re.Iirqhility_ (7fd?nt receii%blp. frftm the. pragte.an C.hurr.h i)f MTale8 are included pts itieome in the vear of reIpt. Recognition crfexpendilure Eypenditure is accounted for on an dccfudlsbasi5. ed assets Tlie cost of taiigible &Ked assets the purchase cost, togetlipr Mryth ans. ine.idcntal cxpensts acqiiisition. AsseLs (,.0.tIng le55 thaIi E3,000 dre nol copitalised. Fi¥ed asget5 are subseqiient]J- recognised at net bcK)k valiie in IlL'(.'iJrdance ii'iili the. de,i)re.eiation poliry stated bcloitr. Dp.precialion is chaiged b}" the str<iight line mcthod to ivrite down the LLlbt of die assets 10 dieir L'e5idual valuf. iJi'eL'their &%liinated tful lrfe at the fol10knii rates per anniim-. PIDpeLtyimproiTernellts Fiiirniture, fittings <1n¢l eoiiipiTieIit uttsi Eble1c$ 10%- 20% 20% Tlic ecoiiomic usefid liN'es ancl resi(lual V<iliie ()f fLYed dS.4vis a rp.i'iewp.d at the e]Jd of taeh actountinE period.'I"bere has been no chan%e in ihe e.stimRted Iisefiil pconnmir. lii'p.g during the }'"ear. Stock Siock is siaLcd at tl)e lower of coqt and net realisablt iolue. Fund ac<x)untinx All fiiiids Trield b5, tlic Ci)Ilege are iinrcstrieted and be ii%Ed in dLLOL"dancc ws11i tlie i,.h<iritAble nhjce.tiics at tkio disLFetion of the truste.es. Casli floiv statement The. Cf)Ilcge hastaken adi?ntage of the cxcmption linder FR8 102, paragraph 1.12fv), from preparins a ftatr.mp.iit of La%h fl<)S on the babis that it is a qualrfjing entity and its ultilate pareni. Pi'&qb)teriaEL ChurLlI ulMTdles, LIILludt) ilie LollegL s casll floiws iii its oi*T consvlid<lteol findnLidl slaleTIieiils.
Canolfan Hyfforddi Coleg y Bala
Noles to the financial statements for the year ended
31 December 2023
Prinopal accounting policies (continued)
Th&se finaneial stateme.nts MAY be obtsiued from the C1[Y secretary at TarnaCle Chapel, 81
MerthiT R()ad, Whitchureh, Cardiff, L'FI4 D.
Retirement benefits
Thc Cbarirypartieipates in A definedbenefit pensioll scheme operated by its parent clwit).. l&e
Pr¢&bytelldll Church Of W'dles. The &chLD]e is accouDted for in the parent charity's aeeounts, The
contributions P
Canolfan Hyfforddi Coleg y Bala
Notes to the financial staternents for the year ended
31 December 2023
Staff costs
2023
2022
'&iges and salaiies
Social Security costs
50,822
2,307
45,192
3,153
53,129
48,345
lThe.re M'ere no etnploye¥s 7th e.moliimp.ntS I2hnve. £60.oDo)12022.' nil)
2023
Number
2022
Niinber
The averago number of emplo}'ees during theyv.JT %YdS db follows.
No trustee rcceiNed aDy remunerqi tion for the oenqces tlie), proiided 4b TLikbl¥e lli eiilieI' vear.
-022.. no)nel Irii$tv.¥.s I1£1(I v.xi)eIi%p.s i)did OL M'erc reiiiibuised l(Jr expenses iii the vear. Tlie5e
wstb. ti'ei'e In¥i by the. Pi'esbyterian Church tsf Mlal(s arid ivere for trave.l And siib.%i%teiice and
totaled Lnil (0022." £nill.
Tangible assets
Furnittire,
Motor
Property
iLLinLS and
vehicles Improvemer]LS F.quipmtnt
Cost
At i J
Canolfan Hyfforddi Coleg y Bala Notes to the financial statements for the year ended 31 December 2023 Total funds January 20{3 Totsl "I'oial resourcc25 expended Bulance 31 December 2023 incoining resources Unrestrieted 241 151 181, (181,978) 2 Pension costs All prnpln}'p.ps at the colle.ge. lierp pl1]e. tn her.ome member5 of The Presbytcrian Cbur¢h of Wajes final salary pe10 schee. The scheme Wds closed tu tUre accTual on Jo September 2n22. All epI0yeeS are eligible to join the Presbyterian Church of Wales defined conttibution scheme kdtllini5tered by CushoD. Tbe filial sa]ary bchemL provides InefitS based on fal pensiullable pay, Ix)ntributions being cliar8ed to thL stutement uf finunci1 llL'tiYities so as to spread the cost of pensions INer e.rnplove.e.s' 'orking lives itrryth the College/Pregb5terian Churcb of Trkales. Full details OI the assuEnptions and valuation of the scheme are shOm in the financial ststement4 ()f The Pre.sbyte.riatt Church of Wales. A]1 e.mployer contriTr)ulions aTe paid h) the. PrP.8hYrI#Th ChuTe.h nf Wiqlp_4. C.oiitnbutTOflS to the scbeme bj the Lollege for the year alllollnled to £llil (2021= £nill. Related party transactions The College is the Jouth o,bi]clrcn's traininscentre of the Pre8berian ChuEeh ofWates,Taberiucle Chapel, 81 MerthJT Road, Illhitchurch, C'ardiff, L'Fi4 IDD. The trnstee5 havr considettd the disclosure requitEinents of the Slatetllent of Recommended Practice for Charities and eonsider that the tnnsactions TeqDiriDg di8dosure are as follow) the PF&sbJterian c'hUh of Wales has ai¥thed a grdnt of £iD.5,4.58 (2C)22: £128,768) for use uu IKlth dnd LllPlt&l expendirure for the year, £25,(K)0 (2022: £15,000) of this wa5 prmided from the Candidates andTraining Departllientof the PresbyLerian churc.li nf W5Jlf.S', the College has 8 debtor balance of Lnil (2022.. £285) at the yeaT-end in relation to a itdki from the Presbyteriall chUb of Wales in relarion to ry)urse (x)sts.' (lll) the College has a credilorbalanee of £491914112022." &413,607} at the}'eai-eDd relatiollto staff costs %i,hic.h the PresbTrterian C.hiire_h nf wale.s admini%ter8 nn it& behalf. {iv) o of the trustees. {202'2'. nyo) of tlie College hai."e outstanding mortg(ig£s alld loons fro the PIE8byteiiaJi ChurLh v( Wales of £ss,3T2 {2022'. £64,024) at year end. Total inter(£t of £1,763 [2022: £1,979) was payable to the Chllrd) in Telation to these balallces dutiDg tlie}Yar. Thc maximum carlogn ai'ai)able is L@500 {L8>500 for the purchwc of an elcetric car) rep8yable m'era maxiniuni pe]iod of 5 years, at an intErest rate of 3%. The car IoaDS are uDsecurcd loans. The mortgage avai]able is £200,000 repayableovera nuxitullrn period of 30 Jears, at an iutcrestrate of 3%. are eeriain exee.ptioixs to tliese TeIn]s i%rythin tbe wnrtga8e rules setby the Church and each ease I1] be COJLsiderLxI on an individual basis."IILe mortgage isseeured by afirsteknarge asainst the pperty. At the. e7e.neral A88embly in .July 21124 the. mnrtgqge. scheme was suspended (exe.e.pt for exceptiona] LircumStaJJs) uiJt31 the Ministries Departtnent considered the lleed Ior ihe bLheme. 13