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2020-12-31-accounts

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff

Annual Report and Financial Statements for the Year Ended 31 December 2020

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Contents

Introduction 1-3
Trustees' report 4-12
Independent auditors' report 13-15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19-28

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

REFERENCE AND ADMINISTRATIVE DETAILS

INTRODUCTION

The Cathedral is the seat of the Bishop and the Mother Church of the Diocese but it also serves as the Parish Church for the Parish of Llandaff.

The Dean also serves as the Incumbent of the Parish, in which role he is assisted by the Cathedral Clergy.

The Cathedral is located in Llandaff, Cardiff, CF5 2LA.

The Cathedral was registered as a charity with the Charity Commission on 6th November 2014 and has the charity number of 1159090.

Dean The Very Reverend Gerwyn Capon Canon Precentor Canon Mark Preece Canon Chancellor Canon Jan Van der Lely Residentiary Canon Canon Graham Holcombe (retired 1[st] March 2020) In the stall of Fairwell Canon Steven Kirk In the stall of St Andrew Canon Gerard Elias, Vice Chair of Chapter In the stall of Llangwm Canon Paul Bennett In the stall of St Dyfrig (Dubritius) Canon Ceri Weatherall In the stall of Canon Treasurer Mr Richard Bacon (co-opted until 31[st] May 2021), Canon Rob Lewis from 1[st] June 2021 Archdeacon of Llandaff The Venerable Peggy Jackson (appointed 28[th] July 2020, retired 31[st] July 2021) Archdeacon of Margam The Venerable Michael Komor (appointed 2[nd] August 2021)

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

THE PAROCHIAL CHURCH COUNCIL

The Clergy: Dean & Vicar The Very Reverend Gerwyn Capon Canons Residentiary: The Chancellor Reverend Canon Dr Jan van der Lely The Precentor Reverend Canon Mark Preece

Churchwardens:

John Kenyon David Cassidy (until September 2020) Ian Macdonald (from September 2020)

Secretary:

Judith Thompson

Elected Lay Members:

Mark Edwards Richard Inkin Ben Jenkins Tanya Johnson Ian Macdonald Mary Madsen Anthony Olavesen Anne Lambert Rogers Ben Staniforth Judith Thompson

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

BANKERS AND PROFESSIONAL ADVISORS

Bankers NatWest Bank PLC Canton Branch 277 Cowbridge Road East Cardiff CF5 1WX Auditors and Accountants Graham Paul Chartered Accountants Wilson House Cardiff Gate Business Park 5 Ashtree Court, Woodsy Close Cardiff CF23 8RW Brian G Scott FCA Architect Dittrich Hudson Vasetti Studios 12-13 9 Bath Buildings Montpelier Bristol BS6 5PT Izaak Hudson Property Advisors Crofts Davies & Co 259 Heathwood Road Llanishen Cardiff CF14 4HS Jonathan Crofts Davies

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

The Trustees Annual Report for the year ended 31 December 2020

Aim and purpose

Dean and Chapter as a body of trustees are responsible for the mission of the Church in Wales at the Cathedral: pastoral, social and ecumenical.

Objectives and activities

We commit ourselves to reviewing our aims, objectives and activities each year. This review looks at what we have achieved and the outcomes of our work in the previous twelve months. The review also helps us to ensure our aims and activities remain focused on our stated objectives. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities, in particular the specific guidance on charities for the advancement of religion. This ensures that we continue our purpose of encouraging the beliefs, tenets and practices of Christianity, by seeking new followers and by encouraging and facilitating the practice of the Christian Faith by existing followers or adherents.

Encouraging and facilitating the practice of the Christian Faith by the Cathedral includes the following:

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Aim and purpose

Objectives and activities (continued)

In addition to the above, Christian devotional acts and outreach work is carried out including:

Achievements and performance

Activities in the year

2020 was the first full year in which the new constitution, adopted in 2019, was in operation. For the majority of the year, activities in the Cathedral were severely restricted by the COVID19 pandemic.

In the first quarter of 2020, Dean and Chapter was focused on key strategic initiatives for the Cathedral in the future, including the quality and extent of the facilities offered by the Cathedral, and the leadership capacity required to deliver them.

From 17 March, Chapter was inevitably focused on how to serve its community as new and changing restrictions were introduced. Wherever possible, the Cathedral was open, sometimes just for prayer but also for services, in a COVID-safe manner. Chapter is grateful to all those members of the Cathedral community who volunteered to support keeping the Cathedral open, in welcoming, stewarding and cleaning.

Chapter has regularly received news of members of the congregation who have been affected by the pandemic, and prayers have been said daily in the Cathedral for them. Chapter would like to extend our sincere condolences and sympathy for those who have faced serious illness or have been bereaved in this time.

There were some significant events in this time which, despite the pandemic, we were able to broadcast, including a celebration of the 70[th] anniversary of VJ Day and two ordination services.

One of the most rewarding aspects of the Cathedral’s work during lockdown has been our work with young people. Our Sunday School leaders, ably coordinated by Ged Bates, took the circumstances as an opportunity to generate a comprehensive online activity, with young people submitting extraordinarily creative work each week.

The Cathedral Choirs, a central part of the life and ministry of the Cathedral, were also seriously constrained in their ability to operate, particularly as the science of singing and the virus was initially poorly understood. We are grateful to the Director of Music and Cathedral musicians who were able to bring music to our worship in different ways and with a variety of choral forces throughout the year, particularly at Christmas.

A major change has been the broadcasting of services and thoughts for the day over social media, a development which has received much positive feedback. We were also able to

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

support the Friends in an online open weekend including a tour of the Cathedral and of the Organ. We are grateful for grants from the Diocese and the Friends which have allowed us to install audio-visual equipment which will allow broadcasting to be a continuing element of the Cathedral’s ministry, also allowing other Cathedral users to broadcast. We also extend our thanks to those with the IT expertise to develop this, notably Christopher Preece and Stephen Moore.

Achievements and performance

Fabric and Estates

Canon Steven Kirk chaired the Chapter Fabric Committee throughout 2020, and oversaw a broad range of issues requiring attention, as well as some longer-term projects. During the pandemic the Chancellor led on all day-to-day fabric matters and as the link with the Architect, Mr Izaak Hudson of Dittrich Hudson Vasetti, who attended Chapter for the first time. Chapter are immensely grateful to Canon Jan for all her work.

The project to restore the Bishop Marshall panel continued throughout the period and was completed in 2021. Chapter and then the Diocesan Advisory Committee approved faculties for the panel to be remounted, and the work was completed in May 2021.

The project to convert the lighting in the Cathedral to LED lights was advanced in 2020, and we are grateful to the Friends of Llandaff Cathedral for their financial support. A new alarm system was installed. Emergency work had to be carried out on the Cathedral’s sewage pumps, and more may be required.

There was a theft of lead from the canopy over the door of Prebendal House which has now been repaired, funded from insurance. There was a leak in the South Aisle roof which our architect assisted in allowing rainwater to be diverted. There was an asbestos survey which identified the extent of the work required, particularly in conjunction with the Cathedral boilers.

We reviewed our grounds maintenance work and contracts, and a new work party was formed, coordinated by the Chancellor and her husband, who have made a huge difference to the grounds, including some areas which were in considerable need of attention. A Butterfly Garden was developed in the South Churchyard, while working towards Eco-Church. Peregrine falcons have been seen in the Pritchard Tower, and a camera was installed. A dangerous tree was removed in a manoeuvre which required the road to be closed.

The Architect completed his Quinquennial review in 2021 and presented his report to Chapter in June.

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Financial review

The Cathedral’s financial position was thrown into sharp relief as the pandemic began to affect its work. At the Annual Vestry Meeting in October 2020, we reviewed the 2019 accounts, including increasing costs and marginal but continuing decline in regular giving.

During the pandemic, we have been particularly grateful to those who have continued, and indeed started, to give regularly to the Cathedral. Without this support, it would have been so much more difficult to continue the Cathedral’s ministry.

The Cathedral is also dependent to a certain extent on giving through the plate at services and on the use of the Cathedral for concerts and other external events, including special services. Much of this income was significantly curtailed, replaced in part by new forms of giving online, and through a new cashless facility at the Cathedral West Door.

As a result of the significant constriction in the Cathedral’s income, Chapter had to apply itself to the potential for a monthly cash deficit of £14,000 which could only be addressed by reviewing and curtailing expenditure.

With so little activity in the Cathedral, the Coronavirus Job Retention Scheme provided a lifeline for the Cathedral. Staff were furloughed to the fullest extent possible on full salary. We received £58,285 from the Scheme in 2020 which supported our total staff costs of £175,320.

The Diocese provided much-needed support financially and rebated our Parish Share by £41,374. In addition the Diocese provided £20,000 towards a £37,041 project to install audiovisual equipment in the Cathedral, to allow for the broadcast of services and other events. This has been highly successful, and we hope to be able to broaden the scope of broadcasting in the future.

Chapter bid for funding from the Welsh Government’s Cultural Recovery Scheme and was awarded £150,000 against specific costs through to the end of March 2021. £100,400 has been spent from this grant in 2020 with the balance to offset the additional costs of reopening in 2021.

The overall position on unrestricted funds for 2020 was, despite a sharp drop income, a significant improvement on 2019:

ignificant improvement on 2019:
Total Income
Total expenditure
Net surplus/(deficit) before revaluations		 Unrestricted
Funds
Unrestricted
Funds
2020
2019
£
£
452,952
519,090
(357,589)
(581,459)
95,363
(62,369)

2021 is in many senses a year of transition. Despite very little activity in the Cathedral in the first six months of the year, we have only been to achieve a monthly breakeven position. As the Cathedral is increasingly open and activities resume, we expect to incur significant cost before income levels return to previous levels. For this reason we are budgeting for breakeven in 2021 even after a substantial legacy. Chapter has already carried out a scenario planning

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

exercise for 2022 which we expect to be closer to normal, and this showed a financial position close to breakeven.

Funds designated for maintenance of Cathedral properties remained unchanged at £23,580.

The investment properties have been revalued at the year end. This revaluation reflects the wider economic and property environment, with any resulting gains and losses outside of the Chapter's control. Any such gains and losses would only be realised if the Charity sold any of the investment properties. Over 2020 the Charity recorded a gain on revaluation on unrestricted funds amounting to £318,228 (2019: £58,600).

On restricted funds the Cathedral realised a surplus before gains and losses on investments of £78,414 compared with a surplus of £4,867 in 2019. This was after taking account of £37,041 used to install audio-visual equipment in the Cathedral for broadcasting services and other events, following generous grants, including £20,000 from the Diocese.

Full details of the assets and liabilities of the Cathedral are outlined in the Balance Sheet. Total unrestricted funds carried forward at the year-end amounted to £6,348,888 (2019: £5,935,297). Total funds amounted to £6,647,447 (2019: £6,147,210).

Events in 2020

Canon Graham Holcombe retired on 1[st] March 2020 after 40 years of faithful ministry in the Diocese of Llandaff. Almost half of his ministry has been here in the Cathedral and Parish of Llandaff where his pastoral skills and his musical talent found full expression. Ordained Deacon in 1980 and Priest in 1981, Graham first served as an Assistant Curate in the Parish of Neath followed by a short period as a Priest Vicar here in the Cathedral. He left Llandaff in 1986 to be the Incumbent of the nearby Parish of Pentyrch which includes the communities of Groesfaen and Creigiau, but some 16 years later Graham returned to the Cathedral as a Residentiary Canon.

The love and affection of the Cathedral community for Graham was clear for all to see in the capacity congregation at the joint Eucharist on the morning of Graham's final day in post. Countless individuals and families have reason to be very grateful to Graham for the pastoral care he showed to them and their loved ones during his ministry. As we thank God for Graham's time among us, we wish him a long, happy and relaxing retirement.

The COVID-19 pandemic has affected almost every aspect of life, and the life and work of the Cathedral is no exception. We were forced by law to close the Cathedral completely at the end of March. Chapter started meeting every few weeks as soon as it became clear that there would be significant operational and financial effects. Loss of income from the plate, envelopes and events were offset to a certain extent by lower costs. We have also received a parish share rebate and an extra grant from the Diocese, for which we are very grateful.

Structure, governance and management

The Cathedral and Parish of Llandaff is part of the Diocese of Llandaff within the Church in Wales. The Church in Wales is a Province within the Anglican Communion and, as such, exists to advance the Christian Religion through world-wide mission. The objective of the Chapter and the Parochial Church Council (PCC) is to ensure that the life and work of the Church within the Parish helps to fulfil that mission, both locally and more widely, by enabling as many people as possible to worship at the Cathedral and to become part of the Cathedral Parish of Llandaff.

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

The Chapter and the PCC are not bodies corporate, their composition, procedure and powers being regulated by the Constitution of the Church in Wales as amended from time to time by its Governing Body set up under Section 13(1) of the Welsh Churches Act 1914. Members of the Chapter are appointed by the Bishop.

Elections to the PCC are held at an Annual Vestry Meeting which normally takes place before 30[th] April each year, but in 2020 it was held on 22[nd] October 2020 because of the pandemic. All persons whose names are entered on the Electoral Roll are entitled to vote and stand for election. Before assuming office, every member of the Council publicly makes a declaration that he or she will be bound by the Constitution. In 2021, the Cathedral became a Ministry Area within the Diocese, and the PCC decided that it should henceforth be called the Llandaff Cathedral Community Council. Chapter is working with the Council to agree its future role and the associated governance arrangements.

The Cathedral services and worship put faith into practice through prayer and scripture, music and sacrament.

The Representative Body of the Church in Wales holds the land and property of the Church in Wales including Llandaff Cathedral and other church buildings, including the churchyard, the other properties owned by the Cathedral and their contents. The Representative Body is an exempt Charity and was set up under section 13(2) of the Welsh Churches Act 1914. It acts on behalf of the Province in paying the stipends of the full-time clergy and administers the Church in Wales scheme of covenanted and gift aided giving recovering tax on behalf of the parishes. The salaries of Cathedral employees are paid by the Dean and Chapter.

Risk review

The members of Chapter acknowledge their responsibility as Trustees to identify, assess and manage risks.

The Finance Committee made up of members of Chapter and other individuals with suitable skills meets regularly to monitor the financial position and to identify and assess risks. A risk register is maintained, regularly reviewed and updated and is submitted for consideration at Chapter meetings.

All major financial risks have been identified and steps taken to alleviate these as far as is possible. The major risk is the possible inability to maintain a sufficient level of voluntary giving and fundraising to enable the Cathedral to continue to meet its aim and purpose. This is being addressed by efforts to increase the regular giving by worshippers at the Cathedral.

During 2020, Chapter approved an updated Safeguarding Policy, presented by Kate Bates the Cathedral Safeguarding Officer. Canon Ceri Weatherall was appointed Safeguarding Trustee.

The fabric of the Cathedral is monitored by the Cathedral Architect.

The finances are controlled by the preparation of an annual budget and the monitoring of income and expenditure against this budget in monthly accounts which are submitted to meetings of the Finance Committee and to Chapter.

Organisational structure

All members of the Cathedral Chapter are the Trustees of the Charity. The Chapter is responsible inter alia for promoting the mission of the Cathedral, the parochial budget and all

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

expenditure there-under, the care and maintenance of the churchyard and the other properties owned by the Cathedral, and for action on any other matter referred to it in accordance with the Constitution.

The PCC, now the Llandaff Cathedral Community Council, is chosen from the Congregation, its members being elected annually at the Easter Vestry meeting, by members of the Cathedral on the Electoral Roll. The People's Churchwarden (elected by members at the annual Easter Vestry) and the Vicar's Churchwarden (appointed by the Incumbent) are ex officio members of the PCC, together with all clergy licensed to the parish of Llandaff.

The PCC is the normal channel of communication between parishioners, the Chapter and the Bishop of the Diocese. All new members are provided with a summary of their responsibilities, and additional training is available if required.

Chapter and PCC intend to continue working together closely, to improve the Cathedral’s effectiveness in carrying out its shared objectives.

Staff and Volunteers

Staff are appointed by Dean and Chapter to specific roles within the Cathedral and Parish. Remuneration is set by the Trustees on an annual basis. The Trustees are grateful to the staff for their contribution to the efficient running of the Cathedral.

In addition to the employees, the Cathedral relies on the significant contribution of a large number of volunteers. Without these volunteers, many of the activities and services undertaken in the Cathedral would be greatly diminished and the Trustees would like to thank everyone who contributes in any way, whether large or small, in helping the Cathedral to fulfil its mission.

Committee structure

Since the new constitution was brought into effect in June 2019, Chapter has established the following committees:

Each has terms of reference approved by Chapter, and minutes are reviewed and approved by Chapter. A staffing working group has dealt with issues as they have arisen.

Reserves policy

The Dean and Chapter have established a policy whereby the net current assets on unrestricted funds should be retained at a level of between 6 months and one year of resources expended. This is considered to be an appropriate level to meet any unexpected costs of significant reductions in short-term income. The Charity is within these parameters.

Investment policy

The Representative Body of the Church in Wales handles most of the investments; in addition, funds are also invested with specialist trusts designed for the charity sector. Chapter regularly

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

monitors the levels of the bank balances and the interest rates received to ensure that the Cathedral obtains the maximum value and income from its banking arrangements.

Endowment and restricted funds

These can only be used for the purposes for which the funds were given. The Cathedral has several such funds, details of which are set out in note 11 of the accounts.

Designated funds

The Trustees can designate some of the unrestricted funds for a particular purpose. These funds remain part of the unrestricted funds. The Cathedral has one designated fund, for Fabric and Property, details of which are set out in note 11 of the accounts. This fund is the balance of the proceeds from the sale of the Memorial Hall. We aim within the next 5 years to use this to fund a range of projects relating to the Cathedral and its properties.

Future plans

Chapter is developing a strategy which will allow significant development for the Cathedral and its amenities, in order better to fulfil its mission as the Cathedral in the capital city of Wales. In addition to this, there will be a focus on good governance, and on the efficiency of day-today operations with the aim of controlling costs and improving income so that an annual surplus is generated over the coming years.

The Dean and Chapter's responsibilities

The Dean and Chapter of the Cathedral Parish of Llandaff are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Trustees are required by the law applicable to charities in England and Wales to prepare financial statements for each financial year which give a true and fair view of the charity's state of affairs and its incoming resources and application of resource for that period. In preparing those financial statements, the trustees are required to:

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.

In so far as the Trustees are aware:

Signed by order of the Trustees on 25 October 2021

Canon Rob Lewis, Canon Treasurer and Trustee

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Independent auditors' report for the year ended 31 December 2020 to the Trustees of The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff

We have audited the financial statements of The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 31 December 2020, and of its incoming resources and application of resources, for the year then ended;

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

• the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

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The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 11, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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The Dean and Chapter of Uandaff Cathedral and the Parish of Llandaff Registered Charlty 1159090 Audltotrs responsibililies for thg audit of the Ilnancial statsrnents We have been appoinled as audttor under secti(m 144 ofthe Ch*ities Act 2011 and report in accordan￿ wtth ￿ulationS made under section 154 of that Act ()Jr objectives are to obtain reasonable assurance at￿ whether Ihe financbal sL8tements 8S a whole are free from material misstatemenL whether due to fraud Of error. and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit (xjnducted in accordance ISA8 {UK) will 8￿y5 detect a matertal misststement when it exists. Misstatements e2n arise from fraud or error and are considered Material rf. individually or in the aggregate. they could reasonably be expected to influence the economic dwisions of users taken on the basis of these ffinanci81 statements. A fvrther description of our responsibil"rties for the audtt of the financial statements is located on the Financial Rep￿tIng Council's websile aL" www.frc.org.uklaudilorsresponsibilibes. This description lom￿ part of our audttorfs report. Use of our roP(Mt This report is made Sole￿ to Ihe charivs trustees. as a t￿. in accordar￿e Part 4 of the Charities {Accounts and Reports) Regulations 2008. Our audil work has been undertaken so that we might state to the charity's trustees those matters we are required lo state lo them in an auditofs report and for no other purFose. To the fijllesl extent pemitted by law, we do not attept or assume responsibilrty to anyone other than the charity and the charity's trustees as a body. for (Njf audit for this rep(rt or for the opinions we have formed. QL•,I ,- OOKOW Graham Paul Limited (Statutory Audltor} Wilson House Cardiff Gate Bu$in•ss Part( 5 Ashtree Cour( Woodsy Close Cardiff CF23 8RW 15

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Statement of Financial Activities for the year ended 31 December 2020 (Including Income and Expenditure Account)

Notes
Income
2
Donations and legacies
Other trading activities
Income from investments
Income from charitable activities
Other income
Total income
Expenditure
3
Expenditure on raising funds
Expenditure on charitable activities
Other expenditure
Total expenditure
Net incoming/(outgoing) resources
before gains and losses on investments
11
Net gains and losses on investments
Profits on revaluation of investment
properties
11
(Losses)/gains on investment assets
11
Loss on disposal of fixed asset
Net income and expenditure for the year
Total funds brought forward
11
Total funds carried forward
11		 Unrestricted Funds
Restricted
Funds
Endowments
2020
Total
2019
Total
General
Designated
£
£
£
£
£
£
240,750
-
33,369
-
274,119
366,486
4,380
-
-
-
4,380
13,980
55,784
-
62
-
55,846
81,090
130,436
-
201,531
-
331,967
120,911
21,602
-
-
-
21,602
35,336
452,952
-
234,962
-
687,914
617,803
7,954
-
-
-
7,954
12,180
347,290
-
149,197
-
496,487
801,634
2,345
-
7,351
-
9,696
23,951
357,589
-
156,548
-
514,137
837,765
95,363
-
78,414
-
173,777
(219,962)
318,228
-
-
-
318,228
58,600
-
-
2,603
5,629
8,232
18,058
-
-
-
-
-
(1,560)
413,591
-
81,017
5,629
500,237
(144,864)
5,911,717
23,580
119,213
92,700
6,147,210
6,292,074
6,325,308
23,580
200,230
98,329
6,647,447
6,147,210

16

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Balance Sheet as at 31 December 2020

Notes
Fixed assets
Tangible assets
6
Freehold properties
Conservation funds
Other
7
Total fixed assets
Current assets
Stocks
Debtors
8
Cash at bank and in hand:
Music/organ fund
Other restricted funds
Other funds
Total current assets
Creditors: amounts falling due within
one year
9
Net current assets
Total assets less current liabilities
Creditors: amounts falling due in
more than one year
9
Net assets
Charitable funds:
General
11
Designated
11
Restricted
11
Endowment funds:
Conservation funds
11
Other funds
11
Total funds		 Unrestricted Funds
Restricted
Funds
Endowments
2020
Total Funds
2019
Total Funds
General
Designated
£
£
£
£
£
£
1,405,129
-
43,838
-
1,448,967
1,439,183
4,621,824
-
-
-
4,621,824
4,303,596
-
-
-
23,508
23,508
22,163
-
-
45,499
74,821
120,320
113,432
4,621,824
-
45,499
98,329
4,765,652
4,439,191
6,026,953
-
89,337
98,329
6,214,619
5,878,374
6,113
-
-
-
6,113
7,355
37,434
-
-
-
37,434
23,543
-
-
10,318
-
10,318
11,938
-
-
100,575
-
100,575
46,778
281,366
96,535
-
-
377,901
293,019
324,913
96,535
110,893
-
532,341
382,633
(26,558)
-
-
-
(26,558)
(35,631)
298,355
96,535
110,893
-
505,783
347,002
6,325,308
96,535
200,230
98,329
6,720,402
6,225,376
-
(72,955)
-
-
(72,955)
(78,166)
6,325,308
23,580
200,230
98,329
6,647,447
6,147,210
6,325,308
-
-
-
6,325,308
5,911,717
-
23,580
-
-
23,580
23,580
-
-
200,230
-
200,230
119,213
-
-
-
23,508
23,508
22,163
-
-
-
74,821
74,821
70,537
6,325,308
23,580
200,230
98,329
6,647,447
6,147,210

Approved by Dean and Chapter on 25 October 2021 and signed on its behalf by

Canon Rob Lewis, Canon Treasurer and Trustee

17

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Statement of Cash Flows for the year ended 31 December 2020

Notes
Cash generated/(used) in operating activities
12
Cash flows from investing activities
Income from investments and investment properties
Purchase of equipment
Cash provided by investing activities
Cash flows from financing activities
Repayment of borrowing
Cash outflow from finance activities
Increase/(decrease)in cash and cash equivalents in the year
Cash and cash equivalent at the beginning of the year
Total cash and cash equivalents at the end of the year		 2020
Total
2019
Total
£
£
123,485
(153,262)
55,846
81,090
(37,061)
18,785
81,090
(5,212)
-
(5,212)
-
137,058
(72,172)
351,735
423,907
488,793
351,735

18

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

1. Accounting Policies

Basis of accounting

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Dean and Chapter of Llandaff constitutes a public benefit entity as defined by FRS 102.

Going Concern

The full closure of the Cathedral at the end of March 2020 as a result of the COVID-19 pandemic, with only partial reopening since July, has had a significant effect both on income and costs. Chapter considered these in detail, alongside the potential future needs of the Cathedral, and put in place a plan which aimed to preserve the Cathedral’s cash reserves to the greatest extent possible.

The immediate effect on income came from a complete lack of services and events in the Cathedral. Fortunately, much of the Cathedral’s regular giving comes from the Gift Direct scheme which was largely unaffected by lockdown. The Cathedral was one of the first churches in the Diocese to reopen for services, and this also mitigated the loss of income. For the first time, an online and text giving facility was made available, using the DONATE platform. The Diocese refunded a portion of our parish share and have provided an extra grant. The Friends have offered their support for which Chapter is very grateful, although this will only be called on as a last resort.

All expenditure was reviewed, and cost reductions were made in utilities, maintenance and in the office, although we took advantage of the vacant Cathedral for carrying out electrical and maintenance work where grant funding was available. Staff were furloughed where possible, and claims made to the Corona Virus Job Retention Scheme. Further measures may be required, and Chapter is meeting more regularly than usual to monitor the position continuously.

In assessing the extent to which the charity is a going concern, the trustees prepared cashflow forecasts to December 2022 using a set of severely pessimistic assumptions, including:

although Chapter is confident that the Cathedral will surpass each of the assumptions made. On this basis, the cash reserves fall to a point between 3 and 6 months of turnover, a level outside the reserves policy but well in excess of what is required to continue to operate.

The only significant remaining risk is that giving falls substantially. We continue to be grateful to all those who commit to regular giving, and although there was a fall in other giving because of the lack of services, regular giving is largely unaffected, and we have no reason to expect it to fall significantly further.

19

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

On this basis the trustees concluded that there are no plausible risks which would render the Cathedral unable to continue to operate for at least the next 12 months and therefore prepared the financial statements on a going concern basis.

Key sources of estimation uncertainty

In preparing the accounts, the Dean and Chapter have considered whether there are any areas of estimation uncertainty. In this process they have made estimates of the length of life of tangible fixed assets, together with the value of investment properties which is based on independent valuation.

Funds structure

The Charity has several endowment funds. The income from these funds is to be used in accordance with specific restrictions imposed by the donor or trust deed.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed.

Unrestricted income funds comprise those funds which the Dean and Chapter are free to use for any purpose in furtherance of the objectives of the charitable objects. Unrestricted funds include designated funds where the Dean and Chapter, at their discretion, have created a fund for a specific purpose.

Further details of each fund are disclosed in note 11.

Income recognition

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacy gifts are recognised on a case-by-case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including governance costs are allocated or apportioned to the applicable expenditure headings.

20

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

Tangible fixed assets and depreciation

All assets costing more than £5,000 are capitalised and valued at historical cost. Depreciation is charged on a straight-line basis as follows:

n a straight-line basis as follows:
Audio-visual equipment 4 years
Office Equipment 5 years
Song Room Piano 20 years
Piano 20 years
Organ 100 years

Heritage assets

The Cathedral holds artwork and artefacts that are held and maintained for their contribution to knowledge and culture. These assets are regarded as heritage assets and are recorded at cost where information on their cost is available. If this information is not available and the cost of providing such information significantly outweighs any benefit to the users of the financial statements then heritage assets are not recognised in the balances sheet.

Investment properties

Investment properties are initially recognised at cost and subsequently measured at fair value as at the balance sheet date. The properties are revalued annually. The fair value is independently valued based on market value of comparable properties or the market value of rental income as relevant to each individual property. The surplus on revaluation is reflected in total unrestricted funds as recognised gains in the period. No depreciation is provided in respect of investment properties. The Trustees consider that the properties are held for investment and to depreciate them would not give a true and fair view.

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Cash

The Charity defines cash as those amounts held as cash or at a recognised financial institution at the year end.

Financial Instruments

Fixed asset investments and cash represent the financial instruments held by the Charity at the year end and are accounted as detailed separately above.

Pensions

Employees of the Charity are entitled to join a group personal pension scheme.

21

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

The money purchase plan is managed by The People's Pension and the plan invests the contributions made by the employee and employer in an investment fund for each employee to build up over the term of the plan. The Dean and Chapter has no liability beyond making its contributions and paying across the deductions for the employee's contributions.

Stock

Stocks of unsold shop goods are included at the lower of cost or net realisable value.

Operating lease agreements

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Related party transactions and trustees' remuneration, expenses and benefits

The trustees are required under section 8(5) of The Charities (Accounts and Reports) Regulations 2008 to prepare the statement of accounts in accordance with the Charities SORP, which requires trustees to disclose certain information about the remuneration and other benefits received by trustees. The Charities SORP states that all transactions with a trustee must be regarded as material regardless of size.

As to remuneration, none of the trustees received any remuneration from the charity in 2020. The Dean and canons residentiary are ecclesiastical office holders remunerated by the Church in Wales.

The Church in Wales sets out the rules under which clergy can claim for expenses of their office. In 2020 the clergy claimed £3,211 in utility costs which they are specifically entitled to under the Church in Wales rules in respect of their office, and were reimbursed £1,065 for equipment and consumables used in the Cathedral itself, from budgets approved by Chapter.

In 2021, Chapter has been investigating expenditure totalling £69,350 between 2016 and 2020 of which at least £35,551 it does not believe was approved by the trustees, as required in law. As a result of a report commissioned by Chapter (and shared with the Charity Commission) from a Queen’s Counsel independent of the trustees, Chapter has concluded that the following amounts were apparently authorised by The Very Reverend Gerwyn Capon which benefited him personally, directly or indirectly, but were not approved by the trustees of the charity:

A further £3,264 was apparently authorised by The Very Reverend Gerwyn Capon for payment to an employee in addition to salary, without the authority of the trustees.

The QC’s report recommends that the trustees seek restitution of these amounts, and the trustees are taking steps accordingly.

22

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

2. Incoming resources

.Incoming resources
Unrestricted Funds Restricted 2020 2019
Funds Total Total
General Designated
£ £ £ £ £
Donations and legacies
Gift direct 124,518 - - 124,518 128,575
Envelopes 19,235 - - 19,235 34,391
Plate 10,309 - - 10,309 39,586
CAF 230 - - 230 230
Bankers’ orders 140 - - 140 150
Legacies - - - - 2,001
Votive candles 220 - - 220 1,326
Weddings, funerals, 10,143 - 816 10,959 22,453
baptisms
Tax recoverable under gift 36,125 - - 36,125 42,623
aid
Friends of Llandaff 26,911 - 26,245 53,156 69,178
Cathedral
Special services 2,710 - - 2,710 8,012
Charity collections 1,090 - 1,308 2,398 5,179
Other donations 9,119 - 5,000 14,119 12,782
240,750 - 33,369 274,119 366,486
Other trading activities
Cathedral shop 4,380 - - 4,380 13,980
4,380 - - 4,380 13,980
Income from investments
Income from investment 54,440 - - 54,440 79,023
properties
Income from investments 1,344 - 62 1,406 2,067
55,784 - 62 55,846 81,090
Income from charitable activities
Grants and fundraising:
Diocesan contribution 60,000 - 20,000 80,000 68,402
Allchurches Trust 11,303 - 17,061 28,364 22,064
Friends of Cathedral Music - - 6,700 6,700 -
Coronavirus Job Retention
Scheme 58,285 - - 58,285 -
Welsh Government
Culture Recovery Grant - - 150,000 150,000 -
Other grants 848 - 2,295 3,143 2,500
Other fundraising - - - - 1,040
Income from groups:
The Flower Guild - - 2,082 2,082 2,933
The Choir Association - - 856 856 18,816
The Guild of Bell Ringers - - 257 257 1,989
The Guild of Stewards - - 2,280 2,280 3,167
130,436 - 201,531 331,967 120,911
Other income
Facility fees 2,678 - - 2,678 22,762
Parish Hall 10,595 - - 10,595 9,085
The Bell/Majestas 750 - - 750 650
Sundry 7,579 - - 7,579 2,839
21,602 - - 21,602 35,336
Total income 452,952 - 234,962 687,914 617,803

23

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

3. Resources expended

Unrestricted Funds Restricted 2020 2019
Funds Total Total
General Designated
£ £ £ £ £
Expenditure on raising funds
Performing Rights - - - - 372
Society
Shop 3,790 - - 3,790 7,434
Investment management
costs 4,164 - - 4,164 4,374
7,954 - - 7,954 12,180
Expenditure on Charitable activities
The Parish Share 124,122 - - 124,122 168,037
Salaries 114,661 - 53,590 168,251 192,370
Clergy and employee
expenses 10,192 - - 10,192 24,905
Utilities 10,896 - 43,532 54,428 68,108
Office supplies 3,597 - 6,571 10,168 12,810
Repairs and maintenance 33,479 - 22,283 55,762 53,514
Investmt property repairs 4,396 - - 4,396 167,024
Sanctuary costs 2,861 - - 2,861 10,832
Professional fees 3,094 - 4,143 7,237 16,938
Funerals, weddings and
services 1,808 - - 1,808 9,358
Audit and accountancy
fees 6,794 - - 6,794 6,060
Sunday school 125 - - 125 153
Parish Hall 3,267 - - 3,267 2,081
Publications - - - - 24,363
Recording - - - - 4,260
Sundry 12,136 - 7,663 19,799 22,390
Depreciation 15,862 - 11,415 27,277 18,431
347,290 - 149,197 496,487 801,634
Other expenditure
Charity donations - - 2,552 2,552 6,294
Interest on loan from RB 2,345 - - 2,345
Expenditure by groups:
The Flower Guild - - 809 809 4,003
The Guild of Bell Ringers - - 920 920 1,900
The Guild of Stewards - - 1,680 1,680 2,787
The Choir Association - - 1,390 1,390 8,967
2,345 - 7,351 9,696 23,951
Total Expenditure 357,589 - 156,548 514,137 837,765

24

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

4. Staff Costs

Gross salaries
Social security costs
Employers pension contributions
Average number of employees		 2020
2019
£
£
146,260
175,143
13,372
9,101
8,619
8,126
168,251
192,370
9
9

No employee received pay over £60,000 in this or the previous year.

5. Auditors' remuneration

Included in audit and accountancy is £4,620 (2019: £4,200) in respect of audit fees.

Fees paid to the auditors for other services were £2,174 (2019: £1,860).

6. Tangible fixed assets

Cost
At 1 January 2020
Additions
Disposals
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
Disposals
At 31 December 2020
At 31 December 2020
At 31 December 2019		 The
Organ
Piano
Song
Room
Piano
Audio-
visual
equipment
Total
£
£
£
£
£
1,564,205
33,000
14,394
-
1,611,599
37,061
37,061
-
-
-
-
-
1,564,205
33,000
14,394
37,061
1,648,660
146,857
23,100
2,459
-
172,416
15,642
1,650
720
9,265
27,277
-
-
-
-
-
162,499
24,750
3,179
9,265
199,693
1,401,706
8,250
11,215
27,796
1,448,967
1,417,348
9,900
11,935
-
1,439,183

7. Investments held as fixed assets

Valuation
At 1 January 2020
Surplus on revaluations
At 31 December 2020		 Investment
properties
Other
investments
Total
£
£
£
4,303,596
135,595
4,439,191
318,228
8,233
326,961
4,621,824
143,828
4,765,652

25

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

The basis of valuation was fair value. The residential properties and the parish hall were revalued in January 2020 by independent chartered surveyors. Llandaff Cathedral School and grounds was valued by the surveyor of the Representative Body of the Church in Wales. The valuations were as follows:

Residential properties
Llandaff Cathedral School and grounds
Parish Hall
8. Debtors
Trade debtors
Other debtors
9. Creditors
Amounts falling due within one year
Accruals and deferred income
Other creditors
Amounts falling due after more than one year
Loan from the Representative Body of the Church in Wales		 2020
£
37,434
-		 £
3,621,824
900,000
100,000
4,621,824
2019
£
14,583
8,960
**37,434 ** 23,543
2020
£
26,558
-		 2019
£
35,041
590
26,558 35,631
72,955 78,166

The loan covers the work carried out by the Representative Body on behalf of the Cathedral to St Mary’s. It bears interest from 1 January 2020 at 3% and is repayable at any time before 31 December 2035.

10. Financial Commitments

Operating leases

Amounts payable:
Within one year
In two to five years		 2020
2019
£
£
6,064
6,064
12,074
18,138
18,138
24,202

Other commitments

The Cathedral had no other commitments at the end of the year (2019: £Nil)

26

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

11. Movement in Funds

Unrestricted funds
General funds
Designated funds
Total unrestricted funds
Restricted funds
The Flower Guild
The Guild of Bell Ringers
The Guild of Stewards
The Choir Association
Music/Organ Appeal
Sale proceeds of library
Piano gifted by Llandaff
Festival Ltd
Restoration of Bishop
Marshall Panel
New altar frontal
Piano gifted by Friends of
Cathedral Music
Friends of Llandaff
Cathedral for music
Audio-Visual Equipment
Friends of Cathedral Music
Cultural Recovery Fund
Lady Chapel Organ
Churchyard maintenance
Maintenance of the bells
Charity collections
Total restricted funds
Permanent Endowments
The Jasper Tower Fund
Friends of Cathedral Music
Llandaff Cathedral Scheme
Fund
Daniel Radcliff Trust
Ivor John Thomas
deceased
The Cathedral Flower Fund
The Woodman Trust
Total permanent
endowments
Total funds		 Opening
balance
Incoming
resources
during the year
Charitable
expenditure
during the year
Other
recognised
surpluses/
(losses
Closing balance
£
£
£
£
£
5,911,717
452,952
(357,589)
318,228
6,325,308
23,580
-
-
-
23,580
5,935,297
452,952
(357,589)
318,228
6,348,888
7,324
2,082
(809)
-
8,597
5,723
257
(920)
-
5,060
4,843
2,280
(1,680)
-
5,443
17,360
856
(1,390)
-
16,826
11,348
62
(1,092)
-
10,318
42,896
-
-
2,603
45,499
9,900
-
(1,650)
-
8,250
4,816
1,245
(1,494)
-
4,567
5,468
-
-
-
5,468
8,291
-
(499)
-
7,792
-
25,000
(25,000)
-
-
-
37,061
(9,265)
-
27,796
-
6,700
(6,700)
-
-
-
150,000
(100,400)
-
49,600
-
5,000
-
-
5,000
-
816
(802)
-
14
-
2,295
(2,295)
-
-
1,244
1,308
(2,552)
-
-
119,213
234,962
(156,548)
2,603
200,230
22,162
-
-
1,346
23,508
43,181
-
-
2,621
45,802
5,650
-
-
343
5,993
1,361
-
-
83
1,444
1,962
-
-
120
2,082
11,934
-
-
724
12,658
6,450
-
-
392
6,842
92,700
-
-
5,629
98,329
6,147,210
687,914
(514,137)
326,460
6,647,447

Designated funds relate to funds set aside for maintenance of the Property and Fabric of the Cathedral and its properties.

27

The Dean and Chapter of Llandaff Cathedral and the Parish of Llandaff Registered Charity 1159090

12. Reconciliation of movement of funds to net cash flow from operating activities

Net movement in funds
Loss on disposal of fixed asset
Depreciation charge
Income shown in investing activities
(Profit)/loss on investment assets
Expenditure funded by loan (note 9)
Decrease/(increase) in stock
(Increase)/decrease in debtors
(Decrease)/Increase in creditors
Net cash generated/(used) in operating activities		 2020
2019
£
£
500,237
(144,864)
-
1,559
27,277
18,431
(55,846)
(81,089)
(326,460)
(76,658)
-
78,166
1,242
2,054
(13,892)
39,638
(9,073)
9,501
123,485
(153,262)

13. Analysis of prior year by fund

Notes
Income
2
Donations and legacies
Other trading activities
Income from investments
Income from charitable activities
Other income
Total income
Expenditure
3
Expenditure on raising funds
Expenditure on charitable activities
Other expenditure
Total expenditure
Net (outgoing)/incoming resources
before gains and losses on investments
11
Net gains and losses on investments
Profits on revaluation of investment
properties
11
(Losses)/gains on investment assets
11
Loss on disposal of fixed asset
Net income and expenditure for the year
Total funds brought forward
11
Total funds carried forward
11		 Unrestricted Funds
Restricted
Funds
Endowments
2019
Total
General
Designated
£
£
£
£
£
297,308
-
69,178
-
366,486
13,980
-
-
-
13,980
80,960
-
130
-
81,090
91,506
-
29,405
-
120,911
35,336
-
-
-
35,336
519,090
-
98,713
-
617,803
12,180
-
-
-
12,180
562,985
162,460
76,189
-
801,634
6,294
-
17,657
-
23,951
581,459
162,460
93,846
-
837,765
(62,369)
(162,460)
4,867
-
(219,962)
58,600
-
-
-
58,600
-
-
6,234
11,824
18,058
(1,560)
-
-
-
(1,560)
(5,329)
(162,460)
11,101
11,824
(144,864)
5,917,046
186,040
108,112
80,876
6,292,074
5,911,717
23,580
119,213
92,700
6,147,210

28