REGISTERED CHARITY NUMBER: 1158340 Report of the Trustees and Unaudited Financlal Statements for the Year Ended 31 December 2024 The Dean and Chapterof Bangorcathedrnl Salisbury & Company Chartered Accountsnts Irish Square Upper Denbigh Road Sl Asaph Denbighshire LL17 ORN
The Dean and Chapter of Bangor Cathedral Contents of the Financial Statements forthe year ended 31 December 2024 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financlal Statsments 9 to 17 Detsiled Statement of Flnanclal A¢tivitles 18
The Dean and Chapter of Bangor Cathedrnl Report of the TrusteÈs for the year ended 31 December 2024 The trustees present their report with the financial statements of the charity for the year ended 31 Dernber 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practi applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ire12nd IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The primary charitable objectives of the Dean and Chapter of Bangor Cathedral are lo fulfil the mission and ministry of the Church in Wales Ipasloral, evangelistic and sociall in the City of Bangor. The Cathedral also serves the DI0Se of Bangor, a large area of North and Mid Wales. Throughout the perif)J CoVed by this report it also held national responsibilities as metropolitan seal for the Archbishop of Wales. The biggest allotIon in the Chapter budget is for stsffing and associated costs. However we also make a significant Contribution to addSsing poverty and social isolation through our Food Bank and Wami spa projects, offer further volunteering, musical education and family activities with our choir. children's wort(ers and visitor welcome teams, sustain an extensive programme of worship and cultural events and maintain a large Grade 1 Listed building which welcomes hundreds of pilgrims, tourists and our own diverse congregations. We have particular mmItMent to Welsh language provision, including worship tailored lo the needs of language leamers. and lo the full inclusion of LG8TQ+ people. Bangor Cathedral and ils site are of huge historic and cultural signifie2n*. In partnership wlh Bangor City Council. 2025 will see us celebrate 1500 years Sin St Oeiniol first gathered a Christian community wrthin the Bangor (fend enclosu) from which the place we now serye gets its namè. Public benefit The Dean and Chapter of Bangor Cathedral provide charitable benefft to the public by.. %)romoling Christian values, and Servi by members of thè Church in and to their communities, for the benefit of in<iividuals and Society as a whole roviding facilities for public worship, pastoral care aftd spiritual development, both for its members and for anyone who wishes to benefit from what the Church offers -responding to poverty, soaal need, isolation and inequality The Iruslees have paid due regard to the Charity Commission's guidan on publi¢ benefit in deciding the activities undertaken during the year. The trustees are satisfied that the infornation provided in the annual report and financial statements meets the public benefit reporting QUirnents. Page 1
The Dean and Chapter of Bangor Cathedral Report of the Trustses for the year ended 31 December 2024 ACHIEVEMENTS AND PERFORMANCE Charitable activities During 2024, highlights included the ordination and ¢onse¢ration seNices for the new Bishop of Si Davids and the first Bishop of Bardsey (Assistant Bishop in Bangorl. We hosted a traditional Welsh 'Plygain' carol service and continued lo develop our offering of Welsh language music with new umposilions. A devotional perfomance of Handel's Messiah was offered by the Cathedral Choir In collaboration with 8angor University Symphony Orchestra. During the season of Lent the Counal of Christians and Jews led study sessions each week, to deepen our understanding of Judaism to further interfaith dialogue and improve Chrislsan-Jew5h re131ions. Building on the Lent study days, Dr James Roberts from the Council for Christians and Jews also delivered the 2024 Margaret Thrall Memorial Lecture in May. A lecture was also delivered during Lent by Canon Dr Robin Ward, Principal of Si Stephen's House, Oxford, on 'Creeds. Councils and Controversies.. On Good Friday 2024 we hosted a devotional concert to prnIere previously unpublished R S Thomas poems set to newly composed musi The Enid Pierce Memorial Lecture in Welsh History and Culture was delivered by Dr Meg Ellis in April. A symposium on the theme of 'Medieval Welsh Literatu and Clynnog Fawl was held in the Cathedral during September, as well as the City of Bangor Civic Servi, and the Di0Trsan Conference. Ortober saw the Cathedral play host lo the Tafftnnon Festival, festival of religion and arts with a focus on river5 and the environment, through music, poetry, visual art and history. Pudsey Bear visited the Cathedral wth Aled Hughes from Radio Cymru for Children in Need in Novemberl To laun¢h the beginning of our lebrations to mark the 1500 anniversary of the founding of the Cathedral by Si Deiniol in 525. all the bishops of Wales attended a special service in December and to honour this significant anniversary the Cathedral was chosen and honoured to feature in the Royal Mail Christmas Stamp collection with images of five Cathedrals in the UIQ The Cathedral also featured in a SFecial Christmas episode of Dechrau Canu Dechrau Canmol on S4C. "Camau Bach" family project conb'nued throughout lem time, welcoming 15-20 families every week and giving a chance for parents with young babies and children lo chat, visit the Health Visitor for baby weigh ins and advice whilst having dnnks and crumpets. We welcomèd in outside groups promoting health, play, baby massage and Welsh. Our Anna Chaplains (offering pastoral care lo the eldertyl have taken rnonthly services in a local assisted living facility and local Nursing home whilst also caring for the spiritual needs of our older congregation. We had a mix of 12-14 services throughout the week, induding Moming Prayer. Eucharist and Evening prayer alongside occasional offi. Our work with outside organisalions induded a Civic servi to welcome the new Mayor. services to celebrate 200 years of the RNLI. a Battle of Britain Service and Rem&mbranc8 serwi and a SANDS servic for people who have lost pregnancies or babies. Our Canon for Congregat'onal Life worked alongside the City Council as Mayorfs Chaplain. linking the cathedral and local counals moving towards closer working relationships. We have al$0 welcomed many groups into the cathedral for tours and hired aul the building for eon¢*rts to charities and other organisations. We have worked closely with our church schools, taking an active part in Govemance and assemblies or classroom- based leaching. During 2024, the Cathedral continued to operate the Foodbank as well as offering free weekly lunchtime ¢It81$, 'Duw a Dysgwyrf seNices for Welsh leamers and a daily welcome to visitors and students. The Foodbank makes a genuine difference lo the lives of people living in povety. The figures below demonstrate the impact. During 2024 there were three teams operative. and up lo 30 volunteers. The foodbank was open for three sessions week. In 2024 there were 1832 total visits. feedin9 2213 adults. and 766 children Ilotal 29791. These figures include repeal visits and refugeeslasylurn seekers acoounted for 562130P/ol of totsl visits. The packs provided were 1329 Isinglel. 484 (emergency), 295 Ifamilyl, 70 Ino cook) and 30 Ivegetsrianl making this a total of 2209 packs distributed. Page 2
The Dean and Chapterof Bangor Cathedrnl Report of the Trustees for the year ended 31 December 2024 FINANCIAL REVIEW Financial position Results The operational tsus of the charity for the year were.. 2024 £144,525 {£290,831) {£146.306) 2023 £305,267 1£382.1691 1£76.902} Unrestricted income Unrestricted expenditure Net operational deficit The overall results of the charity for the year yre.. 2024 {£146,306) £20,839 {£125.467} {£145,4681 {£270,9351 2023 1£76,9021 £53,820 1£23,0821 £68.529 1£45,4471 Nel operational deficit Investment gains Net movement in unrestrlcted funds (before trdnsfersl Transfers Net movement In funds A detsiled review ofthe charity's funds was undertaken during the period with the following fvnds Iransferred from restricted fvnds to unrestricted funds to ensure their correct allocation going forward. The funds listed below reiVed in¢x)me for specific purposes during previous finanaal periods which were expended prior to 2024 and as such costs incurred in 2024 have been funded by unrestricted funds. -music fund -Thousand candle fund -choir association -music Scholars The three endowment funds held by the charity have been transferred accordingly to a dedicated endowment fvnd category within the financial statements. The adrninislration of the accounts is carried out in accordance with the general dI0san accounting prdcbce. There is a system of inlemal control to ensure that thè finances of the Trust a administered wlh probity and darily. Inveslment performance The value of the charity's investments remained stable in 2024, though some investments We alised during the course of the year. Principal fundlng sources The principal funding SoUrS for the year were.. -voluntary donations from members of the public, primarily from very generous congregational giving at seNices and donations from visitors lo the Cathedral. -Grant funding from a number of sources induding the RepsentatIVe Body of the Church in Wales and the Bangor Diocesan Board of Finan. -Investment income generated from the investments of Cathedral funds and Bank interest Inve$lment policy and objectives The trusls seek a level of investment income that is able to support a range of important charitable activities at a time of change, recognising that achieving such a level of income may, in the ca of some investments, pose challenges lo the secondary goal of maintaining capital value. The trustees work with their investrnent managers to assess the ethical dirnensions of their investment portfolio, priorili8ing the use of shareholder rights lo achieve the advancement of a progressive ethical agenda through the investment portrolio. Resep4es policy The Charity maintains reserves to ensure financial stsbility, support ongoing operations, and safeguard ils ability to meet commitments and respond to unexpected events or opportunilies. Reserves provide a bufferagainst fluclualions in income, help manage risks, and enable the charity to ctsntinue delivering ils charitable activities in the event of funding shortfalls or delays. The Trust*s have agreed that unrestricted free reseNes (excluding fixed assets, designated funds and endowment funds) should be maintained at a level suffioent to 12 months of unrestricted expenditure in futu periods. Page 3
The Dean and Chapter of Bangor Cathedral Report of the Trustees for the year ended 31 December 2024 Based on the above pnnciples the charity's target reserve policy is calcubated to be.. 2024 £405.000 2023 £390,000 Target reserles level The target reseNes 5evel will be reviewed annually in light of thanging risks, commitments, and finanaal forecasts. Reserves of the charlty The reseNes of the charity at the year£nd consist OP. 2024 £88,584 £272,245 £32,120 £150 £476,380 £869,479 2023 £88,583 £310,682 £32.453 £228 £688.319 £1,120,265 Endowment funds Restricted fvnds Designated funds Tangible assets Free reserves Totsl reserves At the year end the chanty's free reseNes did not meet the target reserves level. During 2026 financial forecasts will be reviewed for the next 3-5 years with the aim of reducing operational deficits and building reserves. Risk management The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems and prOdureS are in place lo manage those risks effectively. Regular reviews are conducted to identify, evaluate, and mitigate risk5 lated to operations, finants. govemance, and extemal factors, ensuring the charity can continue to meet its objectives safely and sustainably FUTURE PLANS 2025 will be the 1500th anniversary of the foundation by St Deiniol of our charity, as a group gathered by him within fenc£d enclosure or 'Bangol which is now the Cathedral srte. The City also traces its beginnings to that moment so in partnership with them we are preparing a year of events and initiatives. The trustees are reviewing staffing arrangements and other resources required for the charity's developing mission and to ensu financial stsbility, sustainability and adherence lo good govemanc£. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is eonlrolled by its goveming docurnènt, a deed of trust. There are generally around fifteen trustees, all appointed by the Bishop of Bangor. In the period covered by this pOrt the full board of trustees Icathedral Chaplerl met on five occasions and induded engagement with other 'stskeholdets' important lo our work. Working groups and sub- committees were established or slrenglhened with delegated responsibility for a8$ such as finance, staffing, building issues and events. An episGopal visitsb'on and independent Eview of Safeguarding were initiated in Autumn 2024. Since the early part of that year there had been no poslholder wrth the responsibilities of Dean. Chapter are therefore very grateful not only lo ourown clergy, lay staff and volunteers bul also the widerdioc£se and other partner charities for the considerable additional support and assistan we have neederj in a challenging period. A new Dean was appointed in September 2025. REFERENCE AND ADMINISTrATIVE DETAILS Registered Charity number 1158340 Principal address Ty Deiniol Clos y Gadeidan Bangor Gwynedd LL57 1RL Page 4
Thè Dean and Chapter of Bangor Cathedral Report of the Trustees for the year ended 31 December 2024 Trustees The Very Rev'd Dr Manon Ceridwen Jarnes - Dean lappointed 1019125) The Venerable R W Townsend - Archdeacon of Meinonnydd, previously Canon Precentor The Venerable J C Harvey - Archdeacon of Anglesey and Prebendary of L12nfair The Revd Canon E C Williams- Canon Chancellor The Revd Prebend2ry D Williams - Prebendary of Penmynydd The Revd Canon S B E Rhys Evans- Canon TreaSUr (resigned 19121251 The Revd Canon T J Jones- Canon Primus The Revd Canon D T Morris- Canon Secundus (resigned 1115124} The Revd Canon K V Williams- Canoni¢yJs Tertius The Revd Canon A G Gyle- Canonicus Quinlus The Venerable D Parry- Archdeacon of Bangor Canon J Coutts - Canon Precenlor (appointed 18181241 The Revd Canon N Slarkey - Canon Quartus (resigned 15ts1251 The Revd Canon A Mayes lappointed 18181241 Canon G l Jones (appointed 18181241 Canon L L Horrocks (appointed 18181241 Canon J F Gough (appointed 18181241 The Rev Canon R S Wood (appointed 30131251 The Rev Canon R P Bames lappointed 30131251 Independent Examiner Salisbury & Company Chartered A¢countants Irish Square Upper Denbigh Road Sl Asaph Denbighshire LL17 ORN EVENTS SINCE THE END OF THE YEAR Infomation relatin9 to events since the end of the year is given in the notes lo the finanaal slatemenls. Approved by order of the board of truste&s on 27110125 and signed on ils behalf by.. Manon C. James 28110125 (J3 Truste• Page 5
Independent Examinerfs Report to the Trustees of The Dean and Chapter of Bangor Cathedral Independent examinerfs reportto the trustees of The Dean and Chapter of Bangor Cathedral I report to the charity trustees on my examination ofthe accounts ofThe Dean and Chapter of Bangor Cathedral Ithe Trust) forthe year ended 31 De¢Èmber 2024. Responsibilities and basis of report As the charity Iruslees of the Trust you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 1 the Act'l. I report in respect of my examination of the Trust's a¢¢ounts carried out under Seth'on 145 of the Act and In carrying out my examination I have followed all applicab5e Directions given by the Charity Commis&on under Section 145lSllbl of the Act. Independent examinerf$ statement I have completed my examination. I confim that no material matters have rx)me to my attention in connection wlh the examination giving me cause to believe that in any matenal respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act.. or the accounts do not accord with those records.. or the accounts do not comply with the applicable requirements conmIng the fom and content of accounts sel Out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view whi¢h Is not a matter considered as part of an independent examination. 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 understsnding of the accounts lo be reached. {1¥ /( Aled Roberts Salisbury & Company Chartered Accountants Irish Squa Upper Denbigh Road Si Asaph Denbighshire LL17 ORN Dale.. Page 8
The Dean and Chapter of Bangor Cathedrdl ststernent of Financial Activtties for the year ended 31 December 2024 2024 Total fvnds 2023 Totsl fvnds Unrestricted funds Restricted fvnds EndowTnent funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 129,400 63.124 192,524 393.508 Other trading activities Investment income 8,515 6,610 2,725 393 11,240 7,003 7,160 11,384 Totsl 144.525 66,242 210767 412052 EXPENDITURE ON Charitsble activities To Advants The Christian Religion of The Church in Wales 290.831 195,762 486,593 552,335 Nel gains on investments 20.839 4,199 NET INCOMEI{EXPENDITUREI Transfers between funds 1125,467} 145,468} 1129,5191 61,084 4,199 84,385 1250.7871 167,8261 11 Net movement in funds 1270,9351 {68.4351 88,584 1250,7871 167,8261 RECONCILIATION OF FUNDS Total funds brought forward 779,583 340,882 1,120,265 1,188.092 TOTAL FUNDS CARRIED FORWARD 508,648 272,247 88,584 869,479 1,120.265 The notes fom part of these financial statements Page 7
The Dean and Chapter of Bangor Cathedral Balance Sheet 31 December 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Endowment funds Notes FIXED ASSETS Tangible assets Investrments 150 487,969 125,000 127.947 125,150 704.500 125.480 786.459 88.584 488,119 252.947 88,584 829,650 911,939 CURRENT ASSETS Stocks Cash at bank 3,130 16,169 3,130 44.830 3,130 206,616 28,661 28,661 19,299 47.960 209,746 CREDITORS Amounts falling due within one year 10 18,1301 18,1311 11,4201 NET CURRENT ASSETS 20.531 19,298 208,326 TOTAL ASSETS LESS CURRENT LIABILITIES 508,650 272,245 88,584 869,479 1.120,265 NET ASSETS 508,650 272,245 88.584 869,479 1.120,265 FUNDS Unrestricted fvnds Reslncted funds EndowTnenl funds 508,650 272,245 88,584 779,583 340,882 TOTAL FUNDS 869,479 1.120.265 The financial statements were approved by the Board of Trustees and aulhorised for issue on .28110125 and were signed on its behalf by.. Manon C. James l Jorg Trustee The notes form part of these finanaal statements Page 8
The Dean and Chapter of Bangor Cathedral Note$ to the Financial Statements for the year ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been ppad in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, wth the expIlOn of investments which are included al market value. as modified by the revaluation of rtain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it is probable that the income will be reiVed and the amount can be measured reliably. Expenditure Liabilities a cognised as expendrture as soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be MeaSud reliably. Expenditure is a¢¢ounted for on an accnjals basis and has been classif ed under headings that aggregate all cost lated to the category. whe costs cannot be directly attributed to particular headings they have been allocated lo activrties on a basis consistent wth the use of resources. Tangible flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery Equipment 25 /0 on dUcIng balan 25 /• on Cost and 200A on reducing balance Stocks Stocks are valued at the lower of ¢ost and net realisable value. after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from lax on its eharitable activitses. Fund accounting Unrestrictèd funds can be used in accordance with the charitable objectives al the discretion of the trustees. Restricfrd funds can only be used for particular restricted purposes within the objects of the Gharity. Restrictions arise when speafied by the donor or when funds are raised for particular restricted purposes. Further explanalion of ihe nature and purpose of each fund is included in the notes to the financial stalemenls. OTHER TRADING ACTIVITIES 2024 2023 Money raising Fees 10.546 694 5.318 11,240 7,160 Page 9 continued...
The Dean and Chapter of Bangor Cathedral Notes to the Financial Ststements - continued for the year ended 31 December 2024 INVESTMENT INCOME 2024 2023 Deposil a¢¢ount interest 11.384 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 Decernber 2023. Trustees. expenses There We no trustees, expenses paid for the year ended 31 December2024 nor for the year ended 31 Dernber 2023. COMPARATiVES FOR THE STATEMENT QF FINANCIAL ACTIVITIES Unfftstricled Restricted funds funds Endowment funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 290,317 103,191 393.S08 Other trading activities Investment inrne 6.579 8,371 581 3,013 7,160 11.384 Totsl 305,267 106.785 412,052 EXPENDITURE ON Charitsble activltles To Advance The Christian Religion of The Church in Wales 382 169 170,166 552,335 Net gains on investments 53,820 72,457 NET INCOMEIIEXPENDITUREI Transfers between funds 123,0821 68,529 144,7441 68.5301 167,8261 Net movemont in funds 45.447 {113.2741 167,8271 RECONCILIATION OF FUNDS Total funds brought forward 734.137 453,955 1,188,092 TOTAL FUNDS CARRIED FORWARD 779.584 340.681 1.120.265 STAFF COSTS 31.12.24£ 112.309 1,143 9.060 31.12.23£ 142.955 2.447 11.132 Wages and salaries Social security and costs Other pension costs 122.512 156.534 The average number ofemployee's during the yearwas 1212023.. 141. No employee received remuneration of more than £60,000. Page 10 conts"nued...
The Dean and Chapter of Bangor Cathedral Notes to the Financial Ststements - continued for the year ended 31 December 2024 TANGIBLE FIXED ASSETS Freehold propety Plant and mathinery Equipment Totals COST At 1 January 2024 and 31 Dember 2024 125000 23,009 22,865 170.874 DEPRECIATION At 1 January 2024 Charge for year 22,969 40 22,425 290 45,394 330 At 31 Dmber 2024 23,009 22,715 45,724 NET BOOK VALUE At 31 Dernber 2024 125.000 150 125,150 At 31 December 2023 12S,000 40 440 125,480 The propety, 38 Orme Road. is held in the name of Bangor Diocesan Housing Assoaation, acting as custodian trustee for the charity. Legal title rests wth the ¢uslodian trustee, while the benefiaal interest lies enlirely th The Dean & Chapter of Bangor Cathedral. Accordingly, the property is recognised within the charity's accounts as an asset, as it is used for charitsble purposes and held for the benef l of the charity FIXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 January 2024 Disposals Revaluations 786,459 1106,9991 25,040 At 31 December 2024 704,500 NET BOOK VALUE At 31 December2024 704,500 At 31 December 2023 786,459 The were no investment assets outside the UK. Cost or valuation at 31 Dernber 2024 is represented by.. Listed investrnents Valuation in 2022 Valuation in 2023 Valuation in 2024 872.794 186,3351 81,959 704,500 Page11 ¢ontr'nued...
The Dean and Chapter of Bangor Cathedral Notes to the Financial Ststements- continued for the year ended 31 December 2024 STOCKS 2024 2023 Stocks 3.130 3.130 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Taxation and social security Other ¢redilotS 1.907 6,224 704 716 8,131 1.420 11. MOVEMENT IN FUNDS Nel movement in funds Transfers beeen fvnds Al 31112124 At 111124 Unrestricted fund$ General fund Bookshop Pennanenl General Endowment 688,$47 32,453 58,583 1125,1321 13331 183,4231 13,4621 58,5831 479,992 28.658 779,583 1125,4651 {145,4681 508.650 Restricted funds Freehold propety Music Fund Thousand Candle Fund Choir Association Music Fund Endowment Fabric, Maintenan, Restoration Fund Music Scholars Cafe Deiniol Cathedral Foodbank Cathedral Partnership Fund Timpani Drum Fund Camau Bach Curate Grant Defibrillator fund Flower Guild Irestrictedl Celebration 525 Irestrictedl fund Agency Collection 125.000 110.4391 50,436 10,325 30.000 8,686 110,6981 452 105,909 24,372 2,000 1,300 2,339 1,000 125,000 {113,9961 124,435 150.4361 110,3251 130.0001 2,084 28,209 14521 1509> 125 117,5111 10,895 1,305 106,705 24,372 12,0001 130 1,430 2.339 22 388 1,094 19781 388 1,094 781 78 340,882 1129,5211 61,084 272,245 Endowmentfunds Music Fund Rev Evan Tudor Thomas Request The Estate of Dilys Elizabeth Glynne 2,115 2,084 27.885 37,194 19.306 30.000 39.278 19.306 4.199 84.385 88.584 TOTAL FUNDS 1.120.265 250.7871 869.479 Page 12 contsnued...
The Dean and Chapter of Bangor Cathedral Notes to the Financial Statements - continued for the year ended 31 December 2024 11. MOVEMENT IN FUNDS- ¢ontinued Net movement in funds, induded in the above are as follows: Incoming resour$ Resources expended Gains and losses Movement in funds Unrestricted funds General fund Bookshop 144,525 1290,496) 20,839 1125,1321 144,525 (290,8291 20,839 Restricted funds Music Fund Fabric, Maintenan, Restorats'on Fund Music Scholars Cathedral Foodbank Camau Ba¢h Defibrillator fund Flower Guild Irestrictedl Celebration 525 Irestrictedl fvnd Agency Collection 1125,465} 6,469 202 14,990 42,403 130 60 488 1,500 1120.465} 1781 132,5011 141,098) 1113,996) 125 117,5111 1,305 130 1978) 388 1,094 78) (1,038) 11001 14C61 78) 66,242 1195,764} Endowment funds Music Fund Rev Evan Tudor Thomas Request 1129,5211 2,115 2,084 2,115 2,084 4,199 TOTAL FUNDS 210,767 486,5931 25,039 250,7871 Page 13 conts'nued...
The Dean and Chapter of Bangor Cathedral Notes to the Financial Statements - continued for the year ended 31 December 2024 MOVEMENT IN FUNDS - continued Comparatives for movement in funds Nel movernent in funds Transfers beeen funds At 31112123 Al 111123 Unrestricted funds General fund Bookshop Permanent General Endowment 846.851 32.532 54.754 129,4321 4,490 1.859 71,128 14,5691 1.970 688.547 32.453 58.583 734.137 123,0831 68,529 779,583 Restricted funds Freehold propety Music Fund Chorister Prize Fund Thousand Candle Fund Poppy Fund Choir Association Music Fund Endowment Service Fund Fabric. Maintenance, Restoration Fund Music Scholars Cafe Deiniol Cathedral Foodbank Cathedral Partnership Fund Timpani Drum Fund Camau 8ach Cuole Grant Defibrillator fund 125,000 13,819 5,302 49,783 403 9,067 34,447 2,898 61,501 19,173 452 104.938 25,172 2.000 125,000 110.4391 1102,6661 78,408 15,3021 653 14031 1,258 196, 1441 12,8981 122,2381 4,270 50,436 10,325 30,000 91,697 130,5771 134,1411 8,686 110,6981 452 105.909 24.372 2,000 1,300 2.339 1.000 27,105 18001 126.1341 1,300 2,339 1.000 68,529 340,682 TOTAL FUNDS 1.188.092 67,8261 1,120,265 Comparative net movement in fvnds. included in Ihe above are as follows.. Incoming resourcEs Resources expended Gains and losses Movement in funds Unrestrlcted funds General fvnd Bookshop Pemanent General Endowment 305.268 1382,1701 47.470 4,490 1.859 129.4321 4.490 1.859 305,267 1382,1701 53.820 123.0831 Restricted funds Music Fund Music Fund Endowment Fabric, Maintenance, Restoration Fund Music Scholars Cathedral Foodbank Cathedral Partnership Fund Camau Bach Curate Grant Defibrillator fund 20.801 138.7471 184.7201 91,697 8,880 13501 3,130 1102.666} 91.697 130.5771 134.1411 27.105 18001 1,300 2.339 1.000 28,299 477 52.708 165.7561 134.2681 128.7331 18001 {1,7001 11611 3,000 2.500 1,000 106.785 170.165 18.637 44,743 TOTAL FUNDS 412.052 552.335} 72.457 87 8261 Page 14 ontinued...
The Dean and Chapter of Bangor Cathedral Notes to the Financial StAtements- continued for the year ended 31 December 2024 11. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers beeen fvnds At 31112124 At 111123 Unrestricted funds General fund Bookshop Pemanenl General Endowment 646,851 32,532 54,754 1154.5641 4,157 1,859 112,2951 {8,031 } 56,6131 479.992 28.658 734,137 1148,548) 176,939) 508,650 Restricted funds Freehold property Music Fund Chorister Prize Fund Thousand Candle Fund Poppy Fund Choir Association Music Fund Endowment Service Fund Fabric, Maintenance, Restoration Fund Music Scholars Cafe Deiniol Cathedral Foodbank Cathedral Partnership Fund Timpani Drum Fund Camau Bach Curate Grant Def1brillalor fund Flower Guild Ireslrictedl Celebrabon 525 Ireslrictedl fund Agency Collection 125.000 13,819 5,302 49,783 403 9,067 34,447 2,898 61,501 19,173 452 104.938 25,172 2,000 125.000 1216,6621 202,843 15,3021 149,7831 14031 19,0671 1126,1441 12,8981 120, 1541 32,479 14521 126,6431 91,697 130.4521 151.652) 10,895 28,410 181)Jl 106.705 24,372 12,0001 1,430 2,339 22 388 1,094 781 1,430 2,339 22 388 1,094 78 453,955 1174,2641 17,4461 272,245 Endowmentfunds Music Fund Rev Evan Tudor Thomas Request The Estsle of Dilys Elvzabelh Glynne 2,115 2,084 27,885 37,194 30,000 39,278 19,306 4,199 84,385 88,584 TOTAL FUNDS 1 188,092 3186131 869,479 Page 15 ¢ontinued...
The Dean and Chapter of Bangor Cathedral Notes to the Financial Ststements - continued for the year ended 31 December 2024 11. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in fvnd5, induded in the above a as follows.. Incoming resource5 Resou$ expended Gains and losses Movement in funds Unrestricted funds General fund Bookshop Pemanenl General Endowent 449.793 1672,6661 13331 68.309 4.490 1.860 11 $4,564) 4.157 1.859 11 449,792 1672.9991 74,659 1148,548) Restricted funds Music Fund Music Fund End¢)wment Fabric, Maintenantt, Restoration Fund Music Scholars Cathedral Foodbank Cathedral Partnership Fund Camau Bach Curate Grant Defibrillator fund Flower Guild Irestrictedl Celebration 525 Ireslrictedl fvnd Agenw Co51edion 27.270 1159,2121 {84,7201 91,697 8,881 13501 3,130 1216.6621 91,697 130,4521 151,6521 28,410 18001 1,430 2.339 22 388 1,094 781 26,501 15.467 95,111 165,8341 166.7691 169,8311 18001 11.7001 11611 11.0381 11001 14061 781 3,130 2,500 1,060 488 1,500 173,027 1365,9291 18,638 1174,2641 Endowment funds Music Fund Rev Evan TLKJor Thomas Request 2.115 2,084 2,11S 2,084 4,199 4,199 TOTAL FUNDS 622,81g 11,038,g281 97,496 318,6131 Freehold Property Fund The purpose of this fund is to support the mission and ministy of tre Cathedral. Music Fund The purpose of this fund is provide scholarships for the choristers and choral scholars and assist wlh any matter relating 1¢ txntinuation of the musical heritage of the Cathedral. Chorister Prize Fund The purpose of this fund is to receive income from legacies to provide Chorister pnzes. Thousand Candle Fund The purpose of this fund is to promote and support Anglican Musi¢ and the choral tradition within the Cathedral. West Tower Fund The purpose of this fund is to replace the flagpole and wooden ladderto reach it and other expenditure lo be agreed with the donor. CCTV Fund The purpose of this fund is to install and update the CCTV system. Handrails Fund The purpose of this fund is lo install handrails at the Cathedral. Poppy Fund The purpose of this fund is to hold sales from poppy items. Box Organ Appeal The purpose of this fund is to purchase a portable box organ. Page 16 ntinued...
The Dean and Chapter of Bangor Cathedral Notes to the Financial Statements - continued for the yearended 31 December 2024 11. MOVEMENT IN FUNDS - continued Choir Association The purpose of this fund is to provide assistan to the Cathedral Choir wth fundraising and outreach activities. Music Fund Endowment The purpose of this fund is to provide an income for Ihe Music Fund. Service Fund The purpose of this fund is to provide the costs of supplies used for services at the Cathedral. Fabrlc, Maintenance, ReStOrnon Fund The purpose of this fund is to fund any fom of maintenan, repairs or restoration activity to the Cathedral. Music Schoiarn The purp¢)se of this fvnd is to cover the costs of the Music Scholars at the Cathedral. Oryanist Fund The purpose of this fund is to cover the costs of salary for the Cathedral Organist. Cafe Deiniol The purpose of the fvnd is to hold money for St Mary's Trust. Cathedral Fo¢xlbank The purpose of the fund is to )Inan grotsries for those who fall below the poverty line in Bangor. Cathedral Partnershlp The purpose of this fund is to provide gTrnls to beneficiaries in acute finanrial need within the loc81 community. Timpani Drum Fund The purpose of this fund is to purchase musical instruments and otherwisè cover the costs associated with su instruments, excluding the Cathedral Organ. Bookshop Fund The purpose of the Bookshop is to make a meaningful contribution to the ministry of the Cathedral in temis of welcome, Supplying Christian books and OurCeS, card$ and gifts as well as financial. Pennanent Genèral Endowment Fund The purpose of this fund is to provide a general unrestricted income to the Cathèdral 12. RELATED PARTY DISCLOSURES During the reporting period the charity Made the following payments lo lated organisatrons.. £102.000 lo the Bangor Dioeesan Board of Finance (charity no. 10759311 as a Contribution lo the Bishop's Ministry Fund £3,374.40 to the Homes of Bishop Rowlands Icharity no. 2294431 for service charges lating to the Almshouses. These transactions We made under normal terms and We aulhorised by the trustees. The charity also reoived income of £80,208 from The RepsentatiVe Body of the Church in Wales {charity no. 11428131. Several trustees of this charity also serve as Iru5tees of other charities, including tre Bangor DiaSan Board of Finance (charity no. 10759311, the Bangor DI0$an Trust (charity no. 2341561, the Homes of Bishop ROand8 Icharity no. 229443} and The Representative Body of the Church in Wales ltharity no. 11428131 13. RECHARGED DEBT REPAYMENT PROPOSAL The recharged debt from the Dean and Chapter to the Di0san Board of Finan IDBF) for the years 2021-2023 has been agreed al a total of £262.110.16. The agreed proposal is that the Dean and Chapter wll forfeit their annual grant from the DB, which increases by 5Q/o annually, unt'l ihe debt is fijlly repaid. Based on the assumption that Ihe 5.10 annual increase continues. the projected grant values to be forfeited aTr as follows.. Page 17
2024 2025 2026 2027 58,968.32 61,916.74 65,012.57 68.263_20 Total 254,160.83 The outstanding balance of £7,949.33 will be settled immediately. Page 17
The Dean and Chapter of Bangor Cathedral Detailed Statement of Financial Activities for the year ended 31 December 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Planned giving Loose collections Donations Grants Legacies 23,815 12,989 48,198 107.259 263 38.486 9,508 65.046 175,247 105.221 192,524 393.508 Other trading activities Money raising Fees 10,546 694 5,316 1,844 11,240 7,160 Investment income Deposit account interest 7,003 11,384 Total incorning resources 210.767 412.052 EXPENDITURE Charitsble activities Bishop's Ministy Fund Parochial expenses of derics Maintenan¢e of servi$ General parish expenses Sha co15ections MaintenanTr of churches Maintenance of other property Expenditure Music Fund Chorist Children & young people Depn of healing Computer equipment 154.318 1,909 22,597 12,919 42,560 80,468 1,945 153,761 1,036 41 290 44,129 320 81.675 4.883 30,521 261,258 1,635 114,842 2.330 14 296 471.844 541,903 Support costs Finance Bank charges 93 99 Governance costs Auditors, remuneration Audilots, remuneration for non audit wotk Professional fees 3,000 1.746 9,910 3,240 1,249 14,656 10,333 Total reSoUrS expended 486,593 552,335 Net expenditure before gains and1055es 1275,8261 1140,2831 Realised recognised gains and losses Realised gainsjllossesl on fixed asset investrnents 131,627 Net expenditure 275.8261 8,6561 This page does not fomi part of the statutory financial ststements Page 18
This page does not form part of the statutory financial statements Page 18