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← The Dean And Chapter Of Bangor Cathedral

2023-12-31-accounts

Page
Report of the Trustees 1 t o 2
Independent Examiner's Report 3
Statement of Financial Activities 4
B a l a n c e S h e e t 5
Notes to the Financial Statements 6 t o 1 4
Detailed Statement of Financial Activities 1 5

2 0 2 3 2 0 2 2
U n r e s t r i c t e d R e s t r i c t e d T o t a l T o t a l
f u n d s f u n d s f u n d s f u n d s
N o t e s £ £ £ £
I N C O M E
A N D
E N D		 O W M E N T S F R O M
Donations and legacies 2 9 0 , 3 1 7 103,191 393,508 293,771
Other trading activities 2 6 , 5 7 9 5 8 1 7 , 1 6 0 8 , 4 0 3
I n v e s t m e n t i n c o m e 3 8,371 3 , 0 1 3 11,384 2 3 , 8 2 2
T o t a l 305,267 106,785 412,052 325,996
E X P E N D I T U R E
O N
C h a r i t a b l e a c t i v i t i e s
To Advance The Christian Religion of The
C h u r c h i n W a l e s 3 8 2 , 1 6 9 170,166 5 5 2 , 3 3 5 6 9 8 , 1 7 8
Net gains/(losses) on investments 5 3 , 8 2 0 18,637 72,457 (114,074)
NET INCOME/(EXPENDITURE) (23,082) (44,744) (67,826) (486,256)
T r a n s f e r s b e t w e e n f u n d s 1 1 6 8 , 5 2 9 (68,530)
N e t m o v e m e n t i n f u n d s 4 5 , 4 4 7 (113,274) (67,826) (486,256)
R E C O N C I L I A T I O N O F
F U N D S
Total funds brought forward 7 3 4 , 1 3 7 4 5 3 , 9 5 5 1,188,092 1,674,348
T O T A L
F U N D S
C A		 R R I E D F O R W A R D 7 7 9 , 5 8 4 340,681 1,120,265 1,188,092

2 0 2 3 2 0 2 2
U n r e s t r i c t e d R e s t r i c t e d T o t a l T o t a l
f u n d s f u n d s f u n d s f u n d s
N o t e s £ £ £ £
F I X E D A S S E T S
Tangible assets 7 2 2 8 125,252 125,480 125,790
I n v e s t m e n t s 8 7 1 6 , 3 5 7 7 0 , 1 0 2 7 8 6 , 4 5 9 8 7 2 , 7 9 4
7 1 6 , 5 8 5 195,354 9 11 , 9 3 9 9 9 8 , 5 8 4
C U R R E N T
A S S E T S
S t o c k s 9 3 , 1 3 0 3,130
Cash at bank and in hand 6 4 , 4 1 9 142,197 206,616 3 7 6 , 6 5 0
6 4 , 4 1 9 145,327 2 0 9 , 7 4 6 3 7 6 , 6 5 0
C R E D I T O R S
Amounts falling due \within one year 1 0 (1,421) (1.420) (187,142)
N E T C U R R E N T A S S E T S 6 2 , 9 9 8 145,328 2 0 8 , 3 2 6 189,508
TO TA L A S S E T S L E S S C U R R E N T L I A B I L I T I E S 779,583 3 4 0 , 6 8 2 1,120,265 1,188,092
N E T
A S S E T S		 779,583 3 4 0 , 6 8 2
i		 1,120,265 1,188,092
F U N D S 11
U n r e s t r i c t e d f u n d s 7 7 9 , 5 8 3 7 3 4 , 1 3 7
R e s t r i c t e d f u n d s 3 4 0 , 6 8 2 4 5 3 , 9 5 5
T O T A L
F U N D S		 1,120,265 1,188,092

==> picture [22 x 6] intentionally omitted <==

Plant and machinery 25% on reducing balance
Equipment 25% on cost and 20% on reducing balance

E R T R A D I N G A C T I V I T I E S
2 0 2 3 2 0 2 2
£ £
Money raising 5 , 3 1 6 6 , 4 2 3
F e e s 1,844 1 , 9 8 0
7 , 1 6 0 8 , 4 0 3

2 0 2 3 2 0 2 2
£ £
Deposit account interest 11 , 3 8 4 2 3 , 8 2 2

U n r e s t r i c t e d R e s t r i c t e d T o t a l
f u n d s f u n d s f u n d s
£ £ £
I N C O M E
A N D
E N D O W M E N		 T S F R O M
Donations and legacies 127,210 166,561 293,771
Other trading activities 7 , 4 9 5 9 0 8 8,403
I n v e s t m e n t i n c o m e 12,843 10,979 2 3 , 8 2 2
T o t a l 147,548 178,448 325,996
E X P E N D I T U R E
O N
C h a r i t a b l e a c t i v i t i e s
To Advance The Christian Religion of The
C h u r c h i n W a l e s 3 9 3 , 2 1 8 3 0 4 , 9 6 0 698,178
Net gains/(losses) on investments (42,797) (71,277) (114,074)
NET INCOME/(EXPENDITURE) (288,467) (197,789) (486,256)
T r a n s f e r s b e t w e e n f u n d s (5,156) 5 , 1 5 6
N e t m o v e m e n t i n f u n d s (293,623) (192,633) (486,256)
R E C O N C I L I AT I O N O F F U N D S
Total funds brought forward 1,027,760 6 4 6 , 5 8 8 1,674,348
T O T A L
F U N D S
C A R R I E D		 F O R W A R D 734,137 4 5 3 , 9 5 5 1,188,092
6 . S T A F F
C O S T S
3 1 . 1 2 . 2 3 E 3 1 . 1 2 . 2 2 £
Wages and salaries 142,955 133,080
Social security and costs 2 , 4 4 7 1 , 4 7 3
Other pension costs 11,132 10,246
156,534 144,799

F r e e h o l d P l a n t a n d
properly machinery Equipment T o t a l s
£ £ £ £
C O S T
At 1January 2023 and 31 December 2023 1 2 5 , 0 0 0 23,009 2 2 , 8 6 5 170,874
D E P R E C I A T I O N
At 1January 2023 2 2 , 9 5 5 22,129 4 5 , 0 8 4
Charge for year 1 4 2 9 6 3 1 0
A t 3 1 D e c e m b e r 2 0 2 3 2 2 , 9 6 9 2 2 , 4 2 5 4 5 , 3 9 4
N E T
B O O K		 V A L U E
A t 3 1 D e c e m b e r 2 0 2 3 1 2 5 , 0 0 0 4 0 4 4 0 125,480
A t 3 1 D e c e m b e r 2 0 2 2 1 2 5 , 0 0 0 5 4 7 3 6 125,790
8 . F I X E D A S S E T
I N V E S T M E N T S
L i s t e d
i n v e s t m e n t s
£
M A R K E T
V A L U E
At 1January 2023 8 7 2 , 7 9 4
A d d i t i o n s 4 6 6 , 9 9 6
Disposals (494,161)
R e v a l u a t i o n s (59,170)
A t 3 1 D e c e m b e r 2 0 2 3 786,459
N E T B O O K V A L U E
A t 3 1 D e c e m b e r 2 0 2 3 786,459
A t 3 1 D e c e m b e r 2 0 2 2 872,794
There were no investment assets outside the UK.
Cost or valuation at 31 December 2023 is represented by:
L i s t e d
i n v e s t m e n t s
£
Valuation in 2022 8 7 2 , 7 9 4
Valuation in 2023 (86,335)
7 8 6 , 4 5 9
9 . S T O C K S
2 0 2 3 2 0 2 2
£ £
Stocks 3 , 1 3 0

1 0 . CREDITORS: AMOUNTS FALLING DUE WI THIN ONE YEAR
2 0 2 3 2 0 2 2
£ £
Taxation and social security 7 0 4 2 , 1 6 8
O t h e r c r e d i t o r s 7 1 6 184,974
1,420 187,142
1 1 . M O V E M E N T
I N
F U N D S
N e t T r a n s f e r s
m o v e m e n t b e t w e e n A t
A t 1 / 1 / 2 3 i n f u n d s f u n d s 3 1 / 1 2 / 2 3
£ £ £ £
U n r e s t r i c t e d f u n d s
G e n e r a l f u n d 646,851 (29,432) 7 1 , 1 2 8 6 8 8 , 5 4 7
Bookshop 32,532 4 , 4 9 0 (4,569) 3 2 , 4 5 3
P e r m a n e n t G e n e r a l E n d o w m e n t 5 4 , 7 5 4 1,859 1,970 5 8 , 5 8 3
734,137 (23,083) 6 8 , 5 2 9 7 7 9 , 5 8 3
R e s t r i c t e d f u n d s
Freehold property 125,000 125,000
M u s i c F u n d 13,819 (102,666) 78,408 (10,439)
C h o r i s t e r P r i z e F u n d 5 , 3 0 2 (5,302)
T h o u s a n d C a n d l e F u n d 4 9 , 7 8 3 6 5 3 5 0 , 4 3 6
Poppy Fund 4 0 3 (403)
C h o i r A s s o c i a t i o n 9 , 0 6 7 1,258 10,325
M u s i c F u n d E n d o w m e n t 3 4 , 4 4 7 9 1 , 6 9 7 (96,144) 3 0 , 0 0 0
S e r v i c e F u n d 2 , 8 9 8 (2,898)
Fabric, Maintenance, Restoration Fund 61,501 (30,577) (22,238) 8 , 6 8 6
M u s i c S c h o l a r s 19,173 (34,141) 4 , 2 7 0 (10,698)
C a f e D e i n i o l 4 5 2 4 5 2
C a t h e d r a l F o o d b a n k 104,938 2 7 , 1 0 5 (26,134) 105,909
Cathedral Partnership Fund 2 5 , 1 7 2 (800) 2 4 , 3 7 2
Timpani Drum Fund 2 , 0 0 0 2 , 0 0 0
C a m a u B a c h 1 , 3 0 0 1,300
C u r a t e G r a n t 2 , 3 3 9 2 , 3 3 9
D e f b r i l l a t o r f u n d 1,000 1,000
4 5 3 , 9 5 5 (44,743) (68,530) 3 4 0 , 6 8 2
T O T A L
F U N D S		 1,188,092 (67,826) 1,120,265

Incoming R e s o u r c e s G a i n s a n d M o v e m e n t
r e s o u r c e s expended l o s s e s i n f u n d s
£ £ £ £
U n r e s t r i c t e d f u n d s
G e n e r a l f u n d 3 0 5 , 2 6 8 (382,170) 4 7 , 4 7 0 (29,432)
Bookshop 4 , 4 9 0 4 , 4 9 0
P e r m a n e n t G e n e r a l E n d o w m e n t 11) 1,860 1 , 8 5 9
3 0 5 , 2 6 7 (382,170) 5 3 , 8 2 0 (23,083)
R e s t r i c t e d f u n d s
M u s i c F u n d 20,801 (38,747) (84,720) (102,666)
M u s i c F u n d E n d o w m e n t 9 1 , 6 9 7 9 1 , 6 9 7
Fabric, Maintenance, Restoration Fund 2 6 , 2 9 9 (65,756) 8 , 8 8 0 (30,577)
M u s i c S c h o l a r s 4 7 7 (34,268) (350) (34,141)
C a t h e d r a l F o o d b a n k 5 2 , 7 0 8 (28,733) 3 , 1 3 0 2 7 , 1 0 5
Cathedral Partnership Fund (800) (800)
C a m a u B a c h 3 , 0 0 0 (1,700) 1,300
C u r a t e G r a n t 2 , 5 0 0 (161) 2 , 3 3 9
D e f b r i l l a t o r f u n d 1 , 0 0 0 1,000
106,785 (170,165) 18,637 (44,743)
T O T A L
F U N D S		 4 1 2 , 0 5 2 (552,335) 72,457 (67,826)
N e t T r a n s f e r s
m o v e m e n t b e t w e e n A t
A t 1 / 1 / 2 2 i n f u n d s f u n d s 3 1 / 1 2 / 2 2
£ £ £ £
U n r e s t r i c t e d f u n d s
G e n e r a l f u n d 9 3 6 , 3 7 0 (284,363) (5,156) 646,851
Bookshop 3 6 , 6 3 6 (4,104) 32,532
P e r m a n e n t G e n e r a l E n d o w m e n t 5 4 , 7 5 4 54,754
1,027,760 (288,467) (5,156) 7 3 4 , 1 3 7
R e s t r i c t e d f u n d s
Freehold property 125,000 125,000
M u s i c F u n d 7 7 , 3 4 8 (63,529) 13,819
C h o r i s t e r P r i z e F u n d 5 , 3 0 2 5 , 3 0 2
T h o u s a n d C a n d l e F u n d 5 7 , 0 5 5 (7,272) 4 9 , 7 8 3
C C T V
F u n d		 10,858 (10,858)
Poppy Fund 4 0 3 4 0 3
Box Organ Appeal 7 , 8 3 6 (7,836)
C h o i r A s s o c i a t i o n 10,325 (1,258) 9 , 0 6 7
M u s i c F u n d E n d o w m e n t 4 4 , 9 5 5 (10,508) 34,447
S e r v i c e F u n d 3 , 7 6 0 (862) 2 , 8 9 8
Fabric, Maintenance, Restoration Fund 2 2 7 , 5 7 7 (166,076) 61,501
M u s i c S c h o l a r s 58,251 (39,078) 19,173
Organist Fund (5,156) 5 , 1 5 6
C a f e D e i n i o l 4 5 2 4 5 2
C a t h e d r a l F o o d b a n k 17,466 8 7 , 4 7 2 104,938
Cathedral Partnership Fund 2 5 , 1 7 2 2 5 , 1 7 2
Timpani Drum Fund 2 , 0 0 0 2 , 0 0 0
646,588 (197,789) 5 , 1 5 6 4 5 3 , 9 5 5
T O T A L
F U N D S		 1,674,348 (486,256) 1,188,092

Incoming R e s o u r c e s G a i n s a n d M o v e m e n t
r e s o u r c e s expended l o s s e s i n f u n d s
£ £ £ £
U n r e s t r i c t e d f u n d s
G e n e r a l f u n d 147,162 (388,728) (42,797) (284,363)
Bookshop 3 8 6 (4,490) (4,104)
147,548 (393,218) (42,797) (288,467)
R e s t r i c t e d f u n d s
M u s i c F u n d 2 8 , 6 2 8 (74,821) (17,336) (63,529)
T h o u s a n d C a n d l e F u n d (7,272) (7,272)
C C T V F u n d (10,858) (10,858)
Box Organ Appeal (7,836) (7,836)
C h o i r A s s o c i a t i o n (1,258) (1,258)
M u s i c F u n d E n d o w m e n t (10,508) (10,508)
S e r v i c e F u n d (322) (540) (862)
Fabric, Maintenance, Restoration Fund 2 0 , 6 5 6 (158,310) (28,422) (166,076)
M u s i c S c h o l a r s 1,169 (34,306) (5,941) (39,078)
Organist Fund (5,156) (5,156)
C a t h e d r a l F o o d b a n k 100,823 (13,351) 87,472
Cathedral Partnership Fund 2 5 , 1 7 2 25,172
Timpani Drum Fund 2,000 2,000
178,448 (304,960) (71,277) (197,789)
T O T A L
F U N D S		 3 2 5 , 9 9 6 (698,178) ( 11 4 , 0 7 4 ) (486,256)

N e t T r a n s f e r s
m o v e m e n t b e t w e e n A t
A t 1 / 1 / 2 2 i n f u n d s f u n d s 3 1 / 1 2 / 2 3
£ £ £ £
U n r e s t r i c t e d f u n d s
G e n e r a l f u n d 9 3 6 , 3 7 0 (313,795) 65,972 6 8 8 , 5 4 7
Bookshop
Permanent General Endowment		 3 6 , 6 3 6
5 4 , 7 5 4		 3 8 6
1 , 8 5 9		 (4,569)
1 , 9 7 0		 3 2 , 4 5 3
58,583
1,027,760 (311,550) 6 3 , 3 7 3 779,583
R e s t r i c t e d f u n d s
Freehold property 125,000 125,000
M u s i c F u n d 7 7 , 3 4 8 (166,195) 78,408 (10,439)
C h o r i s t e r P r i z e F u n d 5 , 3 0 2 (5,302)
T h o u s a n d C a n d l e F u n d 5 7 , 0 5 5 (7,272) 6 5 3 5 0 , 4 3 6
C C T V F u n d 10,858 (10,858)
Poppy Fund 4 0 3 (403)
Box Organ Appeal 7 , 8 3 6 (7,836)
C h o i r A s s o c i a t i o n 10,325 (1,258) 1,258 1 0 , 3 2 5
M u s i c F u n d E n d o w m e n t 4 4 , 9 5 5 8 1 , 1 8 9 (96,144) 3 0 , 0 0 0
S e r v i c e F u n d 3 , 7 6 0 (862) (2,898)
Fabric, Maintenance, Restoration Fund 227,577 (196,653) (22,238) 8 , 6 8 6
M u s i c S c h o l a r s 58,251 (73,219) 4 , 2 7 0 (10,698)
Organist Fund (5,156) 5 , 1 5 6
C a f e D e i n i o l 4 5 2 4 5 2
C a t h e d r a l F o o d b a n k 17,466 114,577 (26,134) 105,909
Cathedral Partnership Fund 24,372 2 4 , 3 7 2
Timpani Drum Fund 2 , 0 0 0 2 , 0 0 0
C a m a u B a c h 1,300 1,300
C u r a t e G r a n t 2 , 3 3 9 2 , 3 3 9
D e f b r i l l a t o r f u n d 1,000 1,000
6 4 6 , 5 8 8 (242,532) (63,374) 3 4 0 , 6 8 2
T O T A L
F U N D S		 1,674,348 (554,082) 1,120,265

Incoming R e s o u r c e s G a i n s a n d M o v e m e n t
r e s o u r c e s expended l o s s e s i n f u n d s
£ £ £ £
U n r e s t r i c t e d f u n d s
G e n e r a l f u n d 4 5 2 , 4 3 0 (770,898) 4 , 6 7 3 (313,795)
Bookshop 3 8 6 (4,490) 4 , 4 9 0 3 8 6
P e r m a n e n t G e n e r a l E n d o w m e n t 11) 1,860 1,859
4 5 2 , 8 1 5 (775,388) 11,023 (311,550)
R e s t r i c t e d f u n d s
M u s i c F u n d 4 9 , 4 2 9 (113,568) (102,056) (166,195)
T h o u s a n d C a n d l e F u n d (7,272) (7,272)
C C T V F u n d (10,858) (10,858)
Box Organ Appeal (7,836) (7,836)
C h o i r A s s o c i a t i o n (1,258) (1,258)
M u s i c F u n d E n d o w m e n t 81,189 8 1 , 1 8 9
S e r v i c e F u n d (322) (540) (862)
Fabric, Maintenance, Restoration Fund 4 6 , 9 5 5 (224,066) (19,542) (196,653)
M u s i c S c h o l a r s 1 , 6 4 6 (68,574) (6,291) (73,219)
Organist Fund (5,156) (5,156)
C a t h e d r a l F o o d b a n k 153,531 (42,084) 3 , 1 3 0 114,577
Cathedral Partnership Fund 2 5 , 1 7 2 (800) 2 4 , 3 7 2
Timpani Drum Fund 2 , 0 0 0 2,000
C a m a u B a c h 3 , 0 0 0 (1,700) 1,300
C u r a t e G r a n t 2 , 5 0 0 (161) 2 , 3 3 9
D e f b r i l l a t o r f u n d 1,000 1 , 0 0 0
2 8 5 , 2 3 3 (475,125) (52,640) (242,532)
T O T A L
F U N D S		 738,048 (1,250,513) (41,617) (554,082)

2 0 2 3 2 0 2 2
£ £
I N C O M E A N D E N D O W M E N T S
Donations and legacies
Planned giving 3 8 , 4 8 6 3 0 , 0 2 0
L o o s e c o l l e c t i o n s 9 , 5 0 8 11,001
D o n a t i o n s 6 5 , 0 4 6 135,972
Grants 175,247 116,778
Legacies 105,221
393,508 293,771
Other trading activities
Money raising 5 , 3 1 6 6,423
F e e s 1 , 8 4 4 1,980
7,160 8 , 4 0 3
I n v e s t m e n t i n c o m e
Deposit account interest 11,384 23,822
Total incoming resources 4 1 2 , 0 5 2 325,996
E X P E N D I T U R E
C h a r i t a b l e a c t i v i t i e s
Bishop's Ministry Fund 4 4 , 1 2 9 92,757
Parochial expenses of clerics 3 2 0 9 4 0
M a i n t e n a n c e o f s e r v i c e s 8 1 , 6 7 5 181,188
General parish expenses 10,727 7,855
S h a r e d c o l l e c t i o n s 30,521 26,539
M a i n t e n a n c e o f c h u r c h e s 2 6 1 , 2 5 8 163,178
Maintenance of other property 1,635 167,669
Bookshop outgoings 4 , 4 9 0
Expenditure Music Fund Chorist 114,842 4 8 , 6 8 3
Children &young people 2 , 3 3 0 1 , 2 9 3
M o t o r v e h i c l e s 1 4 1 8
Computer equipment 2 9 6 3 2 8
5 4 7 , 7 4 7 6 9 4 , 9 3 8
Support costs
F i n a n c e
Bank charges 9 9
G o v e r n a n c e
c o s t s
A u d i t o r s ' r e m u n e r a t i o n f o r n o n a u d i t w o r k 4 , 4 8 9 3 , 2 4 0
Total resources expended 552,335 6 9 8 , 1 7 8
Net expenditure before gains and losses (140,283) (372,182)
Realised recognised gains and losses
Realised gains/(losses) on fxed asset
i n v e s t m e n t s 1 3 1 , 6 2 7 (4,916)
Net expenditure (8,656) (377,098)