**The Dean and Chapter of Llandaff Cathedral** _Registered Charity number 1159090_ **Annual Report and Financial Statements for the Year Ended 31 December 2022** The Dean and Chaptsr of Uandaff Cathodral Contsnts 14 11 lthwidontA￿llo18, Rep￿t 12-14 15 16 17 Notes to the Fthondal stateM￿ts 1&27 Th• D•an and Chapt•r of Uandaff Cathedral Rog18t•rnd Charlty 1159090 IKrRODUCnOM Tho CatWral Is thg BblK)p arKI the Mother Church of tha Dloew and al serves as tho Pwl8h CIK¥¢h th8 Parknh of Uandaff. Tho C8thodral l¥ l¢th In UarKIgff, Cardlff, CF5 2L Ihe Dwi ofKI Chafv of Llaxlaff Cathedr81 was reg16ter•J 88 8 Ihe Cknrty CorrwnlB8hx on 8th November 2014 and ha8 the cllarfty nunthr of 11590￿. Very Reverend Rk*aTd Peor6 (frryn 20 NO￿rnber 2022) The Venerablo Mlchad lmwathy ftythosewho hav8 faL¥d Iln•88 rrflrni8tk)n 9180 abio to bo h81d. Tho Calhedral Is recogrd88d loc*lty a￿1 nalhThlty ￿r Its NVFQrtfor Chrfstlan Ald. Before Iho pantsmlo £20.3rx) was rals•J In 2019,, kn 2022 ovw £10.0(M) wa8 ralsed desplb pandem resbl¢b¢Jns. and fixthor rn(tyery Is 8xpthJ In 2023. We are gratdul b Kate Bate8 who leads th18 lable In the gouth al81e of the Cathedral am￿081$e$ our commStrTPrttothls*rrt and10￿rIUpp￿fiY0th9rch8r[tI0$. Collectlor*8re lakon atAdvent Kl In Len( th8 Lent Lunches Talsod over £3.IyJO tr S￿Ort for mklthe thJrche5 In J￿Y over tsjr days. we held the Uandaff Cathethal F8811val. the first fesuval to be held at Cathedral for many yéarn. 22 d the 27 events fr80 to allend. kn¢1￿lIng SO￿￿. The Famlly F(m Day, Induthy Ilve muslcln the CalhthT griwnds. ￿￿¢￿en,0 athltkns. a uaft f8lrand focKI. attr*#8d over200 p*. T￿rn￿ere 300 entrkn from 11 Schoo￿a¢r￿SS South altraGting now membors, and th8 Guld of Rkngé￿ gave demcmstrallons. The Fosthl was (Yganl8ed ty 011404 Mowa w)d a ofc4)Ilws and vc4unteer8, to *tKffiI Chapter Is very athl. We very mwh h)ok *y¥vard to th8 Fesllv81 on M July 21r23. On the ngW8 of fv death ol Queon Ellzab8lh 11. the Cattr￿dre1 d08ed In pr8par8lk￿ fur 8er4ke d relle¢tkn and ttrAnksgMng, attèndod by the and Queen Cons(rt broadcast Th• Dun and Chapter of Uandaff Cath•dral R•gl81•r￿ Charity 1159090 thve on the BBC. TNS was a mahx undertakkng It¥ the Cathedral, Uar￿1 and Cardlff, was Governm8nt 8rwJ Clth lffe. In N8 Sarnw￿ the Ar¢hbisW pold tr#xrte In both Welsh and Engllsh to the l* ¢knen's Ife of s￿, and offfjr•d prayw8 for Kkng Charl95 CamtlL9. 2W22 a year of grnat translllon tstho DeparknenL It vra6 t)nty at th8 be£Innh￿ of February that bgck In thelr cldrstall8 8ft8r th8 p￿dern1& Fr(xn Septenknr, Ihe dull8s of tha boy aThJ glrf dKYbtws ￿￿Te ￿u911s8d. Th18 requirad Somo palen¢e 81 new reswBbllltl8s b8dd•d In. The fnl CtThAI Scknlors apwlnted. ft was also oxcepth)nally kny y8Br- recordtry ln June r818ase1gter In ￿23, t1￿ 88rkn for Ihe Klng, S(w of Pra18e {CM8th181 rffjd Nw• Yw}. ts Ik¥t Ceth•dr81 Ctrdr Chrbtsr• con(xrt for a Nn*J8r of y•w8. We arg gratèful lo tho Dwector of Musk. PJtsFth8n Nknore, the Asslstant DYerAor, Aaron SNIX￿. ¢*ortster8 and Ihotr parents. Wterk8 and s(*K)larB *Jr 011 th91r V•Y)rK 8Th1 for exf*plkxally hbh 8twtrSard lty0￿l￿t the year. Chaptw to 88tabll8h a Mu8lc Foundallcffj, 8ppc*IW Uz Att￿rtOn to make tho epargkns for Its launch later In 2023. Llz hgs rrod8 great 8lrldes kn buldtng relalloThshl wmh lood 8th)ds, colloges aNI m￿1¢ F(wndallon6, wlth events kn tho Cathedral aThJ at schools I￿¥8381n9 In 202& We arn wateful to Uz for hor ￿rd brfngkng tha Our Swthy SdKd leaders. ably Ged 8th8. contIn￿l to wovlde •xcall8nt P￿S1On for our young p8Q We contlnued to Improve WKI dvrtop the Il%wtr88nlng of 8erth4s and Ot￿ events, 8 (X)nnec1K￿ mthlch ￿ arn Iwlng to In 2023. T1￿ ch￿cellOr ¢(￿nUeS b wtyélde a frx the ChapknT Is Immen8éty gralBful to Chrls pr?￿ and hts tsam of helpors ts 811 Ihetr work on thlg fronL Th8 IxJnpl&ed h16 last Ojlrrtwennlal ￿eW kn 2021 and Chaptsr18 worklng thffjwJh the Id8nUned. AIttKwh the Cathedral Is In relaWI sO￿d conthtkn folluwkng the rab￿ldIng of the Cathedral after the Sec(m￿ W(N*J W￿, In￿•blY al elomont8 n•gd r kKh of tho fatth Work ¢arrbJ 4Xrt In 2022 addressed wwkne68es In the roof 0￿r the r•Jrlh ofth8 C8trth1. •xl kn the Ja8p8rTcmN8r￿or0 there has b8en water Ingr888 for ff*nyyear& The S(*KJoI has u81ng Ihe Pwish Hall thrfng tho h*8k durr￿ parKlom< and frt S•ptembor w• opened It f(Y U8e by (x)mmunlty groy on Monday4. We have also seen th? relum of ovonlw and ￿￿kerKI bookings. In Prepara1k￿ for thts. the Hal was re￿(1)r and Ihe healkng was replawl mfjklw tlw Hall much nYKe altra(th• for uws. The Cathe(tral Is typlcally a wann K4ac8 beLau88 of the underfioor hèallrvJ lrntslled In th& 195Os, buithe ga8 bolhrs aro wthl twrKI thBlr Lmful Itfe. TNswas unc(xnfort8bly Illustratod In oarty DOwn￿r v•lwi bollern falled corywl for Several da￿ 2021 epar*r￿ wern made for Iho of a sy8tsm arKI contractiiYJ for Ihe n￿$s8ry Th• D•an and Ch*r of Uandaff Cathethal R•gI￿or0d Charlty 1159090 8y¥kn. A fea3Sbllty St￿ kmjked at the rr#xo Athln8ble opthns avdlatkn. FollThvlng th18 our hoatlrKJ ar8 a new *tAch wlll tAI Implan8nted In ases: the rOacemeM of the ga8 Ixllerg 12023). and of alr 80urce heat pump8 kn a futyre yew. to f￿￿1ThJ. CIHpter hopes to make prrorw8 a new 8J*am starting in Ihe suwrner ￿ 2023, allho It18 l*ety that Ihe worf¢ wlll bo dependTrJ on tho deslgn of sy8tem. We are grateful totlKJse who hm continued. ar￿ IndeeAI start•d. lo glv• rOg￿8rfY to the CaUWral. ￿thOut thls SUPFrf A would *avo been 80 mud) mrye Llfflallt lo contthue the Cath•Jrnf8 Thlnlsty. and on tho uso rf the Cathedral fty and other exlemal O￿Tr￿. Ind￿JIng spedal serkns. Colledk)ns uthJ ts plate reglartod at Eastw txrt have falled to rntyjm lo thelr PT p￿den* lavds, as fa￿ pe(¥h carry ￿8h. Donaucm onllne aThJ Ihrough our naw Ig TnHthlng have rlBen. Th• 0￿1 pc*kn on unrustr1rt￿ gwal fvnth for 2￿22 was a 8urMw: Unr••trlctod Unre8trha•d Gen•ral G￿￿ra1 Funds Funds Total Income (619284) (464016) In 2022 ThP rgceknj tho final COVID granl from the Dkx*se of £14,161 Chaptw put morAy aslde kn 2020 and 2021 for mtht0nan(￿ of th8 Cathedral and other propety. kn %)22 Dean Chaww ￿n￿lad and ajdrnsslw tho 88fety of In the PaTbh Hall. repl8cYu alt bulbs and as8(thtsd In PrBb8ndal H￿$0. rellghung th8 Slw. repalr8 lo the rDof and Ihe Jasper In the fAthedral. oxanknlng tho Trfpylth follrywlng fv p8ndemlc and a fewlblllty on replacThnl of th8 Cath•knl der g>)nomlc aThJ Imoperty envlronmrt any result￿ galns and los￿ oulgkle of the Chapws c(thl. Any such galns and l¢wes V4wld only b8 r8811ged If the Charity xqd ￿ c the Invesknent WOFertlos. Ovew 2022 th8 Chty r￿0rdad a pln Orb revaluatkffl on unre611k￿ furKI8 to £505.71012021: £4392101 On restrlcW ftThls the Caltthl roollBed a d8lldt beforn galns and Ios688 on 1rNestM￿ c( £17,765 (2021: d•nclt c1£22.709 Tho Dun and Chapter of Uandaff Cath•(tral R•gl8tsred Charlty 1159090 Full d*lls of thg assets arKI IlablllU88 of I￿ CÉthedrd (￿￿[ned In Ihe Balance ShBeL Total unrestrkled 9￿￿81 ￿rrfed for•Rrd at th8 swr4rKI ￿lOL￿ted to £7,316.$97 <2021: £6,803.699). Total funts amounbj to £7,841076 (2021: £7.181A731 The Cath8dr818fKI Parfsh of UaThlaff18 Pwt of the DIoc080 of Uandaff %4thln the Churth In Wale& Th& Churth In Wales18 a Pn)vln(% wNhln thg Angllcan Commw￿oTr and, as 8uth, ex*ts io a01*n￿ thè Chrf8dan Rellgh)n through *￿r1d4￿108 MI￿n. The itycllve of the Chapter Is to ensure that th91118 and of the Cathedral halps to fulfil that mSsslcn. both eally more wllely. bj en8blkvJ a8 many people 88 F#x8lbie to *rrtilp, v161t arKI be the Ilfe of the C*hadrnl. FolloKts4ng the reslgnatlon of tho f(¥mer Dean on 6 June 2022. the Blsfrw June appthtad tho venerab￿ Mke lQJThJr as Acaing vthlle a recrLllment pro(xs8 was underway. The Very Reverond Rlchard wa8 i￿￿110d Dean cm 21 Nov8mbw 2022. Dean and Chaptsr Is grateftd to can<￿ Gward Ella6 KC for hls thalmwn* of thtrter YO￿ kn th& rfm, through th8 parKkn Bislw June retked at ts end of 2022. and wg were able to 8ay her kn a 8er¥*e In N￿entsT. We wlsh hor all the besl ￿r r8Or8m* The Cl*and the LCCCarè r*)t LKJdle8 (xryrt&, Pro￿lure and regLlated by th8 Cornlltutton of the Chur¢h In Walos as amended fmm tlme to tAm• by ils Govemkng Body 8et UP WKlor Section 13(1) of thè Walsh Churthe8 Acl 1914 and thè C(4)sltiAion of th• Cathedral adopted on 19 Jung 2019. of tho Ch* apKK*rted by the B16h El&ah)n$ to the LCCC are held at an Annual V88ty M88tlrvJ. pernon8 wh(A8 n8rn08 arn entered on the EI￿rnI Roll are enlltled to vote and sland krekClh￿. Belore awmlffj oflke, every member of the C￿n￿l wbl* rrAk•8 a d8daratkm that he or *rfll be bouThl by the Con8UtrMlon. Chopter has tharged c￿rKI1 to 8UPWrt th8 th of Chapter and T￿1￿￿ up thg IKO of Ih Cathedr The Calhodral 88Nkx8nd wornhlp wt falth Into pradlce trwh prayer and 8ry1pture. mu81c and sattam￿L The Rwesentatlvè Body of the Church In Wales hokls the land ar￿ property of the Church In Woles Ir￿1￿Ing Uandaff CoOMlral WKI other chuTr* budding8, InckKliNJ ts ¢hwchyard. an exempt Charly ond was 8el up under Sedlon 13(2) of thè W•18h Churth8 Act 1914. It behalf of the Provln(x kn payhg the stlpwth of th8 fulktIn￿ dergy arKI admlnlstsrs the Church W9198 8chern of cthien8nted arKI glft aldod glvhvJ r8wMlng tsx on beholf ol the parhhes. Th $01orles of Cathedral anpIoyees are pakl by the Dean WKI Chapt•r. AH Merrt￿ ofts ca￿￿dra1 Cl•raro Trustees ofth8 Chartly. The ChWr18 responslble tor all8 fw the MISSI￿ of Cathathd. tha paro(thl budget aNI all exp￿dIbjro The Dean and Chapt•r of Llandaff Cath•drnl R•glst•r•d Charlty I1￿090 tvw￿￿ler, the care rnalntwA￿ of Iho churchyard arKI the other wop8rt108 Th¥ned by Cathedral. and kn 8cUon on other malter reffftd to It In 8r£ordarKa wllh th8 LCCC kn ch>8on from tho Congrngakn, Its members belrvJelecled annudtyatthe Easter Vesty meelkng. by m8mbw8 of the Cathodrnl on the Roll. Th• Pw)ple'$ chuTCtrWar￿ {ele(*ed by M￿berS 81 the anrR￿ E*r Vestry) and the Vlrarfs Churcknrden (wolnted by the Incumberrt) are ex offldo ffEmb8rs of the LCCC. th an d•rgy lIc￿l•j to the parish of UarKlaff. The LCCC Is tho norrrnl chonnol cl czrfnnxmhxlk￿ be1￿￿n parish11Th￿ Ihe Chrytsr and the Blslyx) of the Dthese. Al rthy member8 are prtr4kled wrfth a Summary of th* r#￿￿1b￿lI1OS, 8ddllk)nal tsalnlng18 avalable Ir reqUIr￿1. Chapter and LCCC In1￿￿ to (X)nlIn￿ logeth¢r d(*dy, to hmpytrm the Cathedral'$ In ¢2rylng out Its $hHrpd obJeGUvts. ongp rfth& The Fbwice Commllte¢ io mado upofm•frlm of(X*and other 8ultable skllls arKI meets to morkn Ihe11nandal p(th and to kl8nty arKI aBSg88 rlths. A k rn9lster18 malntalned, regularfy aThJ updated ar￿1¥ submw for wr*lder8kn at meau￿. Folltr•aTrJ th pandon*, the Comlttee reknd the apwoac* to rlsk and Is trto￿lng ¢M a rovl8ed reglstw and T8￿rtI￿. All rna￿ rlsks have been kl•ntlfiad and • tsken to allovlate ts8e as far a818 FKA8lble. Thg m*r rfsk Is the p￿Ible Thbilty to malntsln a sunident b8vo1 ofvoluntarygtvkng arKI fundralslty to enabl8 the Cathethal to conllnu? to med Its 8nd purpose. Thls Is b8kng ktres8od ty effort8 to hKraa￿ th& regubr glvlng by Mx¥hWrs at th• Cathedrnl. Chaptw apwovad an ylated Saf•JLwdkng Policy In 2020. presantod ty K* Baleo Cathethal 8afwrdng Ofllcar. Canon Cwl Weatlwall is Tnot¢•. The fabric oflhe C8thedral18 mon5torad ty tho Cathth Archlkn The lknarKes av• contrdted by th8 prepgrallon of en annual ￿dget thè monttorfry of kKom8 and ex￿￿1￿19 8galn8t thb b￿l￿t In aecaJrt¥ we Subnllted to eonp cfh Fknan￿ Commlttee and Chapter. ' Staff aro •ppolntsd ty Dosn Chaptw to roles wlttkn th8 Cath•&al and Parlsh. The TNstees 8r8 ￿ grateful lo th8 St8ff for thek to tho effkawlt r￿￿ng of tr Cothedral. In addltlon kn Ihe emF4>yees. the Catlthl rdles on the 8knNlcant ¢(Ytrlbullon of a large und*tskon kn Ihe Cathedral *rJuld be gre8ty ￿nIn￿l￿1 arknl the Tru8tg98 Ike to thank Th• D•an and Chaptér of Lknd•ff Cathodrnl Regl•tsr•d Charity 1159090 ov*yong (x)nMtth& In anyway. l¥go In h8lpiw the Cathedral to fuN Its mlssh)n. Sknce Ihè naw was bru4ht hto effec* In June 2019. Chapt•r has •staNlthd th• folltrwlng ￿￿￿11t￿8. Fmancg Fabrfc ty Chaptsr. A st￿ *r#*iw svwp has dealt wltri Issu66 as Ihey have 8r16en. Tho [￿￿n and Ch*r habw ¥8tabl8hod o pollw knby th• nel currffit ( unre•trlcbJ shcKthI b8 rela1r￿d at a level of bel￿n 6 months and one yoar of costs of Wcant red￿ttOnS In slKXt4ern Tho Charlty Is curmty operntlng wllNn th089 parameters. The Repre?￿ 8rKlyofthe In Wale8 handl8* ftxMt oftho in￿￿Onts. In addlllon. fvnds arn al80 Invested wllh sp8dallst tru* deBkned forthe seclcf. Chapter regularty n￿oI0r8 thg leveiB of the bank balan￿ 8nd the Interest rat88 recelved to Ihat thè Cathethal obtsln8 the maxknwm v￿u0 aNI Incon￿ from Its banklng arrqwgnw)ts. Th8sa can onty be used for thè purpoae8 fN whlch the fvnd8 were g1¥￿ C8lhthl ha• sover81 such funds, d8ldlB of*thlth are set out In note 11 of ts a￿KM The TNsteeB can d88lgn8te 8on* of Ihe unrestrf(thl fthyls f(Y a Part1￿lar w￿. The88 fwKls rnwAln partof the unr08tr11thl furKts. ￿ Cathedral has cffiede%gna*d fund. f(¥ F*xSc Id Pror*. detslls clwhlth are set out In note 11 of lh8 aLX*Amrt& Thls fw#J Is the b8lanc8 the pro(*eds from salo d the MerTKYial Hall, arKt h ulod lo l￿d a Tange of Tek*lng to the Cathgdral and Is proylle8. Fuiur• pk Chapter Is dev&4)r*¥ a gtratsgy whlch wlll alhyAt Sp￿1￿8nt davelofv tr the Catr￿￿ Kl tsam￿lI188. in (Ydef b8tt8rtofumi N8 rn1651on as th8 Calhedrnl kn the ￿￿tal ctyof Wal0¥. In WjdlU￿ to thls, tr*r8 on good gtyMnarKe. and on eThSerKy of dgy-tr (ky operallcm wth tho alm Ol￿tIlrO11hB costs Improvb¥J InCA￿ so th? Cathe(Iral Is a aourld InonGlal foothy. Th• Doan and Chapter of Uandaff Cathedral Reglsler•d Charlty 1159090 The Dean and Chopter of th8 Calh￿ra1 Parish cl Uandaff are resp￿￿bla for preparlng the T￿￿180# Report and the fknandal statèments In a(rOT￿nce vAth aFvllcable law and tha UnStad Ktng(bm knwntlng Starths Iunlted Kkydom Generally AciXpt￿I A(￿untIng Pra*lce Trustees are requlrgj by tho law appllcable to dwrfUe8 In Eryl•KI arxl Wales to wepgre siatementsforexh fin￿d￿l year￿th￿ gfvo a true and falrviewoftho dwws slats of affak8 and Its ￿￿omIng rel￿rCeS and applkali()n of ro8ouTh for tw perlod. In pr•parfng IIKM fjn•n(aal stat￿nts. ts tr￿te96 are Teqthd tsx 8gled 8Uttth accountky pofkaes arKI appty them c4)n81Jtenty. ob3eM Ihg n￿KKkn and prwKWe8 kn cawikn SORP 2019 (FRS 102); . make ILKtrJTr￿ts and osUmate8 that arn re88on8blg arKI pn •tato whether aFylic*)lo accounury Standards have been fdlowl. k> ony matérlal (tytsyes dlsc108ed expknlned In Ihe Ilnandal 8tatements: and prepare the fir*g1 on o golry 1Xm￿rn l)8Si8 unl•ss R is inapFroprlat• to esum8 t￿1 the Charfty wlll cOr￿nUe kn op8raUon. Teaxx￿b1e acurw Ihe knrthl ￿nic￿l of th8 (*wSty a￿1 enable them to erwure th8 fmar*(aal statements comFly wllh the Charflles Act 2011. the Charlty )rdan¢e vAth Int*nthl StWKlards (UK) (I {UK)) and appIl￿ble law. resw)nsknllUes unts th08e standards are ftrther (*sulb8d In the Audltorfs restKin&blMles for thè au(It of the lknandal 81*ema￿ soction of our rewt W• Ind8perMlent ofthe c*wlty In accordwK* the ethkal requlremenls that are relevant to cwr audlt of thè finandal 8lalemenls In tho UK Indudku Iho FRUS Ethlcal Standard. WKI trove fullllled our olher elhtcal rnsponslJilll*s In a￿Kdani* wlth theae requlrnmonts. We that the a￿*t evklen￿ wo ha¥8 obtaln*l18 8uffld•nt arKI approprlato pro¥*kn a b8s* for our oplrkn. C￿￿￿10n• rolatlng to golng conc•rn In •thng ts finwwjal ￿ateM￿￿ we o)ncluthl that tr￿18•9, us• ofthe gokng ba8lB of In the preFwakn of the 6tatemen181s approprfate. Bo8gd w the work ￿ have performed. we hm Th)t Idenufied ary ThAtertal LwKortalnleB rnE￿ to •v8nts wcon(ItKmS that, kndvkknlly or ￿￿e¢U¥%1y, May ¢a8t slwllkxnt dcArtrt on Ihe c*wW$ abllwy to contknua as a concem of at knst months frrjn whon the flnandal Slaten￿ are 0uttKxknI forlssue. IJT f•woTw1bm￿ and IJ* rfjspon8lb11th6 oftro Inthes th respoca to gpng corwm ar• The otrKr Infonr￿n conytsa8 the Infam￿(￿ Inthdad In the truthe8 rnl rewre, olher then Ihe finarKlal 8tstenxnts and our audW8 r•port th￿8￿. The tru8tee8 arn respjxlblo for olh8r Informat1￿ o)ntalned wlthEn the anNal rop0￿. Our oplnlon on tt fina￿al stat8m8nts dr￿ vK)t ￿ver the other Infonnatkjn aThl. exwt to tho exlent othen The Dean and Chapter of Uandaff Calh•dral Ro918t•r•d Charity 1159090 (>Jr resportsWJllty Is to read the other knformauon and. In ddng so. consld•r ￿knother11 other Inforrmlion Is mat•rlaUy incon8lsknt w6th th8 flnanclal statem8rts orour know obtatr*d In th8 ry)LW¥g of or oth8NA60 appears to be maieri81ty mtsststed. IfTA• Idenffji such materlal inc￿5￿1en￿es or apparent n*tsrfal ml88toteThnts, ￿ are r84wkod to detemilre whothw thi¥ swves ri88 to a materlal nkntatem8nt in fina￿￿ statsThnts thems¢lveg. If, based an the work we perft)rn*d. ￿ a)nd￿je that there Is a materfal We nothhy k+ rewt In th18 reg&d. IA•tt•rn on ar• r•wlr•d to rnport by •x¢•rtlon We have ngtr4ng kn report kn re8P8ci of tho folIty￿ ry4tter8 In relatkn tohl** Ihe Charllles (Aciyxrts Raport8} RwJul￿on8 2ffj8 requlre us to re￿ to 5ou11. OFlnh)n: . chwlty has not kept adequ*é aeix)unllro rgcords: or • the flnwKlal 8tstamorA8 afe Mt In agramnt wth tr* accou￿r￿j re&)rd8: or . ￿ have not rncthed all the InfomiatTh and explanallon8 we roqutre for ow wdlL R••poMlblllll•• of tru•t•g• A8 exFlalned Th￿re fully In thé trustÉÉs' ￿ponSIbIlI￿9 slatwnent Set lxrt M page 11. the tr￿le8& are respo￿￿19 for tho preparalion of flnanci81 staternents gfve a and falr vltrw, arKI for swh Irrtemal control as the Iru8tees determlne 18 n8Cessary to enabl8 Ihe frwd w wror. the flnarKlal slatements. th8 trustees arn r•9pon81ble for 8ss8sslTrJ the ¢harVs aimlty to contlnu• as a golTrJ concem. dlscloslng. as appil￿bkn. mattern related to gol concern and uskng th8 golng 1￿Cern ba815 of 8(x>)untlro unle88 the trustegs elttw k*8nd to Ikuldakn tho or to c*ase owatrm, tt hav• no rog11th oltemthè trArtto do so. We have b88n apwAnted 88 8￿J[ts ￿der 8ecllon 144 oflhe CfArlUes fvA2011 and rewxt In authan(t wllh [egL￿atIOnS m8d8 ￿d￿ra8(Alon 154 of that A OLr obJeckn are to obtsln rusonabl• ass￿ance about Ihe fmndal 8ts1emen18 88 a *thole are free frcrfn materfal Mls8t*em￿t. wPftther due to fra￿1 ￿ error, to t&gu• a￿JItO￿8 rnwtthat Indwjes our op1n1￿. Roa￿nable a86w8n￿ h a hlgh level of assuranc•. but Is not a warathe Ihat an awjlt COrKlu￿ed In ac£Ordan￿ vAth ISA8 (UK) wlli aknys d*t materlal mlsstatement vth•n ￿ exlsts. MSsStatements Ixn arlse frorn fra￿j or effor and are consklor8d matsrial rf. i￿j[WIdU9Ity or in the aggrffjate. th•y CA￿d reasonabty bg expKted to Infiuen(% the ecortr)mlc ded$k￿$ of users tsk￿ cK> th8 bas18 ofth8s0 1Tr)8rKlal stater￿ts. Irrngularllie¥. includlry fraud, are Inskncw of rmwcfjmpllm Mrfth laws aDd regutalityi$. We deslgn prcM*durns In wfth our re8ponsllAlttios. outlned abovè. kn •X*ct meterfal mls6lat*nants In rw•ct of Irregularllles, k¢ludlng frawj. The SFwYlc pro(%durn8 for th16 engagBm8nt and the 8Xtent to th08e are capable of dotodkv IrregLAar11185. Indudkng fraud16 detolled bokw. Th• Doan and Chapt•r of Llandaff Cathedrnl Re Isl¢r•d Charlty 1159090 trot sJ*ms kn ￿ar￿. tho st￿￿8rd of record koapirwj. and an assessment of tho Irffluent% a￿1 role of Ihe stakeholdérs Involved. tsiAe transaclh)n wa8 made ￿ the FIBk arna8 of th8 rTh￿¥s1 state￿ents •xplaiakn as rewhed durkng the ¢OLm cl the audit and ffjntenlkn* arnas Beeause of Inhererrt Ilmltatkms of an aud¢ thore ￿ a rlsk that we detect al irregularftles, Inc4LKllrKJ th068 leodlTrJ lo a materfal MISSts￿ In the 8t8tsm or n(Tr￿m￿lIanCe wlth regulalk)rn TN8 rknk Incrwes the more that ¢>)mpllance Th4th a Iwi OT regulallon18 frNn tho events and trensaclkrt ro11￿d in the finarxaal 8tatarn￿ts. as wo wlll bo186s Ilkoty to b0¢¥)￿ aware of hi8tarKw of nor￿pIlence. The rf8k Is a160 gr8ater regardlng Irregularldes occurrfrg du• to fraud rather than error. a8 fraud A fiJthw do8eApkn d our respon8lbMltlas for tho auth of lh8 flfian(% 81ateme￿I3 kx¥tgd on ts FInar￿al Rep￿￿n9 cO￿d1'S webslto at., ¥wYW.froory.uWa￿jltMs￿bIIIII￿￿ Thls d6xriptson fomTh port of w aLkJI￿$ reporL ol liur r•port Thls report Is rKAd8 s(A8ty to the (*arW8 tr￿ta•s, 88 a body, in a¢￿dAnc• wlth Part4 crflh Clwrlie5 (AccoLmts and RoF*yls) R£gulallons 2t#)8. a￿%11 w(Jrk has b80n undertkn 80 thal we mEghl 8tate to ¢harWs trustees those matter8 wo are requtred to state to tlffjm 8uditorf8 report and other wrp080. To th8 fulleBt exlert Pe￿Illed by law. wg do nc acf*pt or owme roop¢￿8)bIl￿Y to awono ¢Jther than IhB tharlty and t1￿ tr￿Stee5 a5 a boty. for (xr 8(Klli for th16 rnptyl. cxforthe (￿On8 ￿ fAv8 forn*d. 4K 2) X•lMdln Audlt Llmltsd Floor BKk•t HM• 36 Old J•wry London EC2R 8DD Dean and Chaptw of Uandaff Cathedrnl Regkntsrod Charf 1159090 8latornoM of Flnancl•l A¢lMUM for th• yw •nd•d 31 Doc•m￿2(r￿2 On¢ludlng *Kom• and Exp•noltswo Axcount) Fur X6,912 IOB78 103A27 103277 7&12 iow e8m4 197MI 197.395 11Jl0 T.742 7143•4 $42M T22 1W *285 2.132 14.712 101 111.1701 117,n61 11 .710 10171• (8A701 1Y,148 511055 111.170) (232351 17247) 078 125 11 11M 11 Th• D•an and Chapter of Uandaff Cathodral 18tsr•d Cha Balanc• Shoot M at 31 De￿nb￿r2D22 1X),W8 1A3&825 45*744 4M744 4CII,034 13A84 131 04A73 WY,78• 5214.778 45e6.744 6931 131m2 1.331 4375 141124 Cwh atknK￿ kn l•xl: 47.027 47 177 177 671 11 19 171 17 (67.7441 128 11 11 11 7,31W 114824 12&894 Iri1.1 11 11 11384 Oth* fvnd• 79J35 7 181473 Approved by Dèan and Ch*r on 4 July 2023 and signed (m As behaw ty urnr and TriMt•• Th• D•an and Chapter of Llandaff ¢att￿dra1 Regl8lw•d Ch 1159090 Stat•fft￿ of Cash Flaws for th• thd•d 31 2022 12 074 r20.7141 rf￿￿prn•ftk 1•3 47 (5212) Tfthlwh •nd u•h•ryl¥•l** •tth••TrJ ￿th•y* SS1 17 The Dean and Chaptor of Ll0nq￿ff Cath•dr•l Regl•tK•d Ch 1159090 Not￿ to the Flnanclal 8tat•m• l. Accountlng ￿11¢10$ The acLounts (fbbandal 8tatemonts) boen pmpated urKler the hl8tcfl￿l COBI t))nveth *lth recopntsed at (x)st or trarwlkn value unles$ 0thgThth Btstsd In th8 rglevart noteB to these accoun￿ The fiwKa81 stateM￿ts ha4* bo￿ wyred In acl¥xda￿ wllh th8 Staterngnt of PMGU(¥: Ac(xwnthy arnl by Charllks preparlrKJ th* acc¥)unts In 8(y*rdan(x wlth the Flnandal Reporling StaThJwd awlcable In the UK and Rewblbc of Ireland (FRS11f2) (effethe 1 July 2019). the Fln@ncial Slandwd appM¥blo kn th• UK Rap￿1¢ of IrelaThl (FRS 102) and CIKqrbllos Act 2011. D￿n artd Ch8Pttrof Uandaff c1)nsU￿￿6 a pU￿C b8neffil a￿ty as d8fiMd by FRS 102. defldi of£109,(￿. Th& key assumpti￿ were that ￿vIng MJukJ be as In 2022 at ￿￿anned19Y8Is of *aff co#. on a serl88 of pla￿￿ble Ixrt pe86lnlth agsumpkn& glvlrKJ not rKvvgrfr¥J hlghw udllty and other o)sts alttwh Chaptsr 15 ￿nfidfjnt that the Cthedral surpa88 of aBsumptkm mado. On thi• ba818. cash fall tr) o wlrbt belwwi 3 and 6 mDnth8 of turrwr. o lovel outskkn tho ra8erv88 lyJl ￿11 In ex(*88 (rfwhat Is Nulred to contknue to opwatè. Thg orty 81gnmcant ren*lnkng rfgk18 that gMrvJ f8118 8ub81antlaly. W9 ¢(X)tlnu8 tr> ￿ gratafijl lo all thctse wtK> fA)mmlt to regulw gmng, and altrttwgh there was a fall In olt*r gl4ty be￿U$e of the Lqdt of s8N1c￿, rew1* gi¥wwJ li l•rgoty unoffxt•* •rKI ￿ hm to •Y4Jgd ilto fall sljfftantly fiJrther. On thi$ b8818 th? trustsw cond￿led that Ihere are no pla￿l>le rfsks wllch rendor th• Cathethal unable lo ￿Tr￿nue to operate ts at least the noxt 12 month8 and thereth prepared tha In prewlry the awjunts. the Doan grKI ChaFtsr cortsklered wt*r there are any wea8 of e8tfmaUon ￿￿ertaInty. In thls wocesg thoy hwe made eslknates of the leryth ol Ille cltsngb* fixad a88•t8. log8ther*th tho value of invostM￿ pyopeths is based Ir￿ndant val￿110n. Th• Dean and Chapter rrf Llandall Cathedral R•gl8tor•d Charlty 1159090 Unre5trktsd trKome funds comw those *thtch the and Ch*r we free to use tor any wrpose In fvrtherance of the of Ihe charftable ¢JbJects. Unre8trk*ed ftmd8 Include Furtlw det819 of aath furrfj ore d8d08ed kn nots 11. All I￿ame 18 oncotho Chwtty has en111￿ant to tr* IrKaTh, It18 prob8blo thol Iho Irrtune 11 be recefved. the aftM￿nt of Incrn T8￿¥th can bo mOa￿red rnltably. DOnaU[K￿ ￿ reL¥)gnlsed bthen Ihe Charty has bw) ru)tI￿ In wrAlTrJ of Ix)th thè amount ar Bettl￿date. In ￿8V0ntthat a th)nallon16 8ubJe(*to condlllcfis thaire¢y*e a18val ofpwfmn befepredallon Is L4wrygd a 8traltht4k)g basb 88 foltr4A: AudI￿vISu81 equlwmnt Chllce Eqtiwient Room Plano 20 yoars PLano 100 srars Th8 Cathedral holds artwork arKI ￿Cl3 thatare hekl arKI malntslned forth•lro)ntrlbub¢n to kncwAodge and cultswe. Therye 8g90ts are regardéd as h•rtt8ga 88ryets and r8cordod al ccffji thore Informthn thotr cost 18 available. If tNs Infom￿nIS r•)t avallablg and ts vxt pf provhjlng stth Infonn •knilficanlly OLthWs any benefft to the u8er8 d the fflnarthl stalom•nts lh￿ a880ts are not reujgnlsed In Iho ba￿nce sh Investment prwrU88 are InlUaNy rec￿sSed at cost and subsequently m&88ured at fatr value ag at the balance sP*et date. Prosxrtles %Mlh ￿ a(lJve market are profossk￿aIY r8v8lued annually. Tho fatr valuo is kndependenly valuod based on market valug of propertkn or th8 math•t value of Mlal InL¥)me as relav8rt to e&h INlvfdual PTWY. The Cathedral owns Ihe slte of the Sthjol. th8 plafvu Ildd8 WKI 8une b￿ldIng8. 1118 on I lease to ts SclKx)l under an agreernent Itrwh ¥thlth the sch(xJl edu￿ tho chor*4 provkllrtrJ 8ch(Aar8tr4p8. TF*ro b no aclfve maTknt fLY1ho proth beca￿ f( is In a ry)nseNatkn aToa ar￿ Its u80 Is Cryrfenan￿ for WTw>seJ c(wnant the Church In Wale& The rent Is reasses8ed evoryfj%* years, rrK￿l recenlly In 2019. preVk￿ praclce to apFolnt IrKlependent valLm for Ih reo8sesThnC I￿t It w agreed In 2019 the oSWOted CN¢ was diBpr(yortknate k> It Iirds aweed atthat poknt to Incr8a68 tho rnnt ty RPI. A8 a r88uIt of th1& d￿kn. and dhpro￿rtlonata cost of speclallst Valuatk￿ adv1￿. Chapler dedded to allw the vaSuath)n ba* to the basls for ront a8885smenL and th8 wopwty value Is rKW indexed ty RPI. The ￿$1008 ore sa05W tst thfs prv41de8 approprfots b￿¥ for valulTrJ the asset. Tha 8uWu8 on r•valth18 refie(Xed In lotsl ￿lestr1thd fvnd8 85 recogn188d galns kn the pwhxl. No dewKlatlon Is provkhj In respect of lnvosth￿nt properuab. Thé Tmtéés ¢onsfd•r that thè arn held for IrNa6￿ arml to depredate thwn W￿k1 not gfvo a tr￿? and falr vlew. In￿lMentS are a fomi of ba•tc finanrjal IMtyurrMt and Inltlaly reow18•d Atth•tr tr¥*actk¥n valua d sub80qugntty moa6ured at th* fdtr value as at the balan￿ Shoot dat8, The statorrnnt of Ilnandal acllvltles Includes the net gaIr￿ and108888 arl8lng (x) revafuallon and dlsptsals throughout the year. Al galns and Ios8e8 arn tsken to 81818w*nt of Fknandal Ac¥vltl88 as tw arfw. Reallsed galns and kxses on Inve8knwts are ￿lCulated as the d1fferen￿ beiYAen sales pmceeds ar#J I￿[r opwrfr C4Trylng value or tholr purtha8e value Ir wulred subseqwit to th8 fjr8t day of the finarKaal yew. galn6 aTrJ kmes ara (zlculated 88 Ihe dlfferenrn bthwn va￿8 al the yearend the Tho Dean and Chaptor ol Ltsndaff Cath•drnl Registered Ch• ng val￿. Reali80d unr8aWBed In￿S￿ent and kw89 are comblned In tho Slatsm8nt The Ch8rfty delkx ca8h a8 Iho80 heha 88 at a rery)gn18ed lknlal In8Otulknn ot the Fwd a88et Inv8strm8nts aThl Lwh rfjpre8entl￿ lfrkgrKlal InstrwMnt6 held ty the Charfty atlhe yew end and arn acoxmlgd as detaled eepw8tety abow. EnW¢we¢s of the are enluod to a group p￿n01 9￿810n 8ch8me. The nw plan18 manapj by The PeorAe'8 P8n81on and tho plan Invests thè Cl￿trIbUll0￿ mado by the omploye8 and enwloyer In an InVeStm￿t fund 8mpb>pe to t￿Ik1 up ovor tho term of the Tho D•aft arKI Chapknr has no IlabHIty boy￿1 m8klng Its (x)rtrMons and payky across the dgduclKin6 for the •mploya8'8 Stoths of wwld Blw are IK4udod at th8 of ojgt or net reallsabl8 valu Renta18 pald urKleroperallw ar• chwgod to prrltt or on 8 8tr8bJtrt4kn8 bABkn ovgr the pertod (rfth81088•. to Pr￿re ts slatsmont irf acC¥)￿ts in accordm Kryth th8 Charfaes SORP. Ythlch requtres tr￿￿0• to dsclo4e (xrtaln InfOrn￿lI0n at￿rt tho Tenyjneratlon and 01P￿r banellts recelved by trusteos. The Charttkn SORP 8tatès trot all transactlon8 wllh a tru8tee be regartsy as nxterW of A8 to remuneratth. none ofthe rece1￿￿ any renxmerallon from the tharfty In 2(r22. Tho Dean and Cancms R06fvJentiwy aro offico r0rnW￿rth by the Churrkn In W*6. The Church In Wales tho rules undw whlch dergy can clalm for oxp8naes of tt￿r offlce. ID 2022 the cb8rgy dakned £5,201 (2021: £5217) kn ullllty c(*ts vA)tth thoy arè spedfically a￿118d to wjer Ihe ChLYth kn Wai88 rules In r•specX dthalr ollk%, 8nd relmburGed £1.172 {2021: £W) for pment and consunwblo8 used In tho C￿h0(traI W. fr￿ft budgots approved by Ch8ptr. 21 Dean and Chapter of Ll•ndaff Cathedral Ragl8l•red Charity 1159090 FurK* TDtsI (r•ra a416 17.074 120 26,451 3,087 19A74 1&145 37. T•[ 3S011 51N5 21*6 1611 n1 12 31 31 10378 10 10 12 12 I￿.9￿1 1,15S 1,165 103.427 aTrJ l￿d￿￿Thj.. 22W 146 1016 •1MI 2S.1411 145 120 I￿11 7204 Tr* 100 11 16 1•7 197 17.748 P*tsh Hal 21716 23.192 71 Trthl hMm• 1.818 719 22 Th• Dean and Chapt•r of Llandaff Cath•dral R Istered Charfty 11￿0 Fwd• F￿d) Tatsl InAsJ 187,432 192JU 114A80 $7,515 21m 130083 STJ16 61. ,508 66.103 14￿15 1,016 47243 11.T11 11.722 9,771 1,7 29.601 21.180 21.180 10 17￿1 18 12 X164 14285 29MS 13.610 16 12 1712 514 1189 Eyw#lMurn gI(￿p￿.. 8￿5 Th? rA•J ofB•n Rlry•rn Th• of8tow•rds 619 16 cF￿rfty donakn kndude £3.812 colle(knl at L￿t Lunc*￿. Membgrn of the Cathodr81 ConNNnNy organlsè publldty and tS)or to door colections In Chrbtlan Akl Week. Ihg proce8ds of whlch we reffdttad dr•caly to Chrlstlan Ald arKI do not aFpe8r In Ilwe a(wunts. There Is a fojd colledkn [￿nt In the Calh&lral for Iho Cardlff Food Bank. 23 ￿an and Chapl•r of Uandaff Cath•drnl Rog1s1•r￿ Charlty 1159090 Stsff Costs (kn salarf88 Soci•l 88(xrity ceAts 169,284 9,158 114.580 Avw number of empbyeel audlt arnl aLrountanry18 £5W (2021: PA.980) In Teq)8ct of audtt108s. Fets p4d to tho awJtor6 for cther 8erYl¢os ￿r• £1.558 (2021: £1.624). T•wlbl• lIx￿ a•• Plano song Au￿￿1￿•1 •qulpm•nt Eq￿PMan1 Totsl Plano At 1 January 2022 AfklitiOnB 1,5842(kS 33.0(Kl 14.394 11.938 1.869.374 At 31 Dec￿ 2022 1584 33 Iyxi 14.394 11936 1669374 LWecl•tlon At 1 January 2022 Charge for the y 178,141 26,400 3,899 15M42 1,850 19,628 11.480 l A81 229.649 2.984 At 31 De(wknr 2Q2 At 31 D•¢8mber 2022 At 1 January 2022 71 1 10455 1439 825 1386064 8 10495 26 11 24 Th• Dean and ChaFA•r of Llandffl Cathedral 1159090 IThv•s1￿ Other Total Valuadon Al 1 January 2022 Dlsposal8 Surplus on revalua 5,081,034 153,742 5214.776 {37.497) (37,497) 14,780 520,490 505.710 At 31 D•cwnb•r 2022 744 131 Tha r6s*Jentlal propert￿ and Iho potsh troll warn rovalued 2023 ty I￿per￿1$nt Bwvgyorn. As d8suW In the accAyrfry pollcl8s on page 20. ts value of u￿KIRff Cathedral S¢P¥)Dl and Resldanual wop8rUes Uondoff Cathedral SC*￿ 8rKI w(Kmd Parkh Hall 4.119.344 1.247.400 200.000 2022 Trad8 debtors lknr debtors 141124 53,815 143.124 57.5rd Cr•dltor• 21r21 19A32 19A32 Loan frLYn the Rwe8Ortat5ve Bc* oftha In Wala8 The loan o)ver8 the th orrknd (xrt by tre Repre8entaUve Body on behalf of thé Cath8dr81 to St Marf& It 14 bearn Intere8tfrom 1 January 2020 at 3% axl is repayablo at any twno bofor8 31 DKember 2035. Th• DHn and Ch*r of Ll•nd•ff Cath•drnl Istornd Charfty 1159090 2021 ATrMxmts payablè". Wlthkn year In trhr* to IIv8 yeara 5.989 13A78 19,465 Othor(Mxnntht&' Thé Cathedr81 had no other c¥rnltment8 at Ihe end ofthe ￿ar (2021: £NH) 11. Mov•m•nt In Fundo 13 16192841 .710 7JlW Th• FknArGu 9.111 1615 fJ255) (1J)Xl) 375 1CQ 1&676 18) 1&rn (45mJl (W51 (3ffi111 4611 11,69Jl 792 rr.8T21 2.742 Sl12Z Aknrfrvntsl 2018.. south WMtkn4r• 14470) 28.211 I11,4￿) 14751 1.1•0 104X•)7 Th•J•spar ToA•r Fund 1016 (11.ri2) 15,3141 (q951 14.$02 {1,S221 12J 341 Tol•lfirdl• 7 1814TJ Deslgnated fvTKIB Tolate lo furMl8 Éet 0skl8 for of the Propgrty aKvJ Fobrk ol ts Calhethd WKI Its prppgrUe8, and ks wgbrjts. 26 Tho D•an and Chaptsr d LLqndaff Cathadral Reg18tered Charl 1159090 1Z R•Mndllallon of MoveMw￿ offunth to not ca•h Ilow 0￿1¥￿￿ actlvMI (1ZeU21 120 11 An•ly•l• ol prfor y••r by fund 47Jag 49 274.11• 7M12 74 125A45 18 13 le￿74 1•7JW JI.167 18 21 7.742 404371 7.74 •JA11 10 11 1111414 917tyJl QA34} 7TM• 174717 210 4wio 3182 17.14fy 11Y1414 If0,086) 7NII 478 10 27