2022-12-31-accounts - The Dean And Chapter Of St Davids Cathedral

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		Page
Report ofthe	Trustees	3- IO
Report ofthe	Independent Auditors	11-14
Statement of	Financial Adivities	15
Consolidated	and Charity Balance Sheet	16
Cash Flow Statement		17
Notes to the	Cash Flow Statement	18
Notes to the	Financial Statements	19-32
Detailed Statement of Financial Activities		34-36

				2022	2021
		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
	Notes	E		f
INCOME AND ENDOWMENTS
FROM:
Donations and Legacies		336,238	1,298,792	1,635,030	550,298
Other Trading Activities		597,566	0	597,566	195,244
Investment Income		41,281	4,878	46,159	39,098
Other Income		15,142	0	15,142	3,035
Total Income		990,227	1,303,670	2,293,897	787,675
EXPENDITURE ON:
Raising Funds	5	819,189	1,964	821,153	200,361
Charitable Activities	6	693,062	253,746	946,808	798,279
Total Expenditure		1,512,251	255,710	1,767,961	998,640
Net Income before gains/(losses)		(522,024)	1,047,960	525,936	(210,965)
Net gains/(losses) in investments	13	(75,228)	(50,737)	(125,965)	68,842
Net Income/(Expenditure)		(597,252)	997,223	399,971	(142,123)
Transfers between funds	19	(5,030)	5,030
Net Movement in Funds	19	602,282)	1,002,253	399,971	(142,123)
RECONCIUATION OF FUNDS
Total funds brought forward
As previously reported		1,234,545	444,252	1,678,797	1,865,125
Prior period adjustment	23	44,205	0	44,205	0
As Re-stated	19	1,278,750	444,252	1,723,002	1,865,125
TOTAL FUNDS CARRIED FORWARD	19	676,468	1,446,505	2,122,973	1,723,002

			Group	Group	Chevy	Charity
		Notes	2022f	2021 f	2022 F	2021 f.
FIXEDASSETS
Tangible Fixed Assets		12	10,984	13,128	1,107	7,212
Investment Assets
Investments		13	512,353	795,895	512,353	795,895
Investment Property		14	267,500	267,500	267,500	267,500
			790,837	1,076,523	780,960	1,070,607
CURRENT ASSETS
Stocks		15	47,824	94,473
Debtors		16	87,176	68,262	252,220	189,054
Cash at Bank			1,487,414	560,428	1,462,219	509,844
			1,622,414	723,163	1,714,439	698,898
LIABILITIES:
Creditors: amounts	falkng due within
one year		17	(290,278)	(76,684)	(263,688)	(58,909)
NET CURRENT ASSETS			1,332,136	646,479	1,450,751	639,989
TOTAL ASSETSLESSCURRENT LIABILITIES			2,122,973	1,723,002	2,231,711	1,710,596
Total Net Assets			2,122,973	1,723,002	2,231,711	1,710,596
The Funds ofthe Charity
Unrestricted Funds		19	676,468	1,278,750	785,206	1,266,344
Restricted Funds		19	1,446,505	444,252	1,446,505	444,252
TOTAL FUNDS		19	2,122,973	1,723,002	2,231,711	1,710,596

			31.12.22 f	31.12.21 f
Cash Flow from Operating	Activities
Net cash (used in)/provided operabng activities	by		759,460	(203,722)
Cash flows from investing	activities:
Purchase oftangible fixed assets			(5,057)	(3,794)
Purchase offixed investment	assets		(55,465)	(121,766)
Sale offixed asset investments			213,042	126,102
Interest received			204	81
Dividends received			14,802	13,550
Net Cash provided by/(used Investing activities	in)		167,526	14,173
Change in cash and cash equivalents the year		In	926,986	(189,549)
Cash and cash equivalents	at the beginning
ofthe year			560,428	749,977
Cash and cash equivalents ofthe year	at the end		1,487,414	560,428

				31.12.22		31.12.21
	1	RECONCILIATION OF NET	INCOME/(EXPENDITURE)
		TO NET CASH FLOW FROM OPERATING ACTIVITIES
		Net income for the reporting	period	399,971		(142,123)
		Adjusted for.
		Depreciation charges Losses/(Gains) on investments Interest received Dividends received Decrease in stocks Decrease in debtors Increase/(Decrease) in creditors		7,201 125,965 (204) (14,802) 46,649 (18,914) 213,594		6,768 (68,842) (81) (13,550) 7,749 10,281 (3,924)
				759,460		203,722
					Cash
2		ANALYSIS OF CHANGES IN	NET FUNDS	At 01.01.22	Flow	At 31.12.22
		Cash at bank		560,428	926,986	1,487,414

				2022	2021
2	DONATIONS AND LEGACIES			6	6
	Collections Gift Aid Votive Candles Legacies Grants Friends - re wages Friends —re Choral Scholars Cemetery Account Rower Donations			162,375 10,359 25,114 1,131,824 226,024 25,297 8,250 7,433 826	92,193 6,416 21,803 49,001 320,196 24,665 8,250 7,137 170
	Other Donations Cefnogwyr Ty'r Pererin Millenium Appeal Donations Festival Donations and Sponsorship			18,222 1,245 1,192 16,869	12,618 1,112 1,231 5,506
				1,635,030	550,298
	Grants received, included in the above, are as follows:
	Diocesan Board of Finance Representative Body ofthe Church Representative Body ofthe Church	in Wales In Wales	—Development	48,310 53,000 18,000	47,363 30,000
	All Churches Trust Limited Christian Arts Trust Grant Listed Places ofWorship Scheme Wales Cultural Recovery Scheme Cathedral Music Trust Grant			22,064 18,000	22,064 1,000 1,243 150,000
	Arts Council Wales			10,000
	Enhancing Pembrokeshire Fund			16,650
	Lord Bishop ofSt Davids —Thomas Coronavirus JRS Grant Coronavirus Support Grant CADW	Beckett		15,000 25,000	58,526 10,000 0
				226,024	320,196

OTHER TRADING INCOME	OTHER TRADING INCOME	2022 f	2021 f
Shop income Concerts and Exhibitions		498,407 30,964	159,886 13,149
Filming Fees Tours, visits and library Ty'r Pererin Education Refectory Income	Centre	1,867 10,337 5,510	2,300 1,596 3,494 14,819
St Davids Cathedral Festival		50,481
		597,566	195,244
INVESTMENT INCOME		2022 f	2021 f
Rent —Goat Street		24,840	20,415
Rent - Aerial		6,313	5,052
Dividend income		14,802	13,550
Deposit account interest		204	81
		46,159	39,098
RAISING FUNDS		2022 f	2021 f
Raising donattons and	legacies
Goat Street property Donation charges	costs	38,386 3,573	5,106 4,012
Porth YTwr		388	0
		42,347	9,118
Other trading activities
Bookshop Running Costs and Porth y Twr purchases Festival and Concert Expenses		628,072 146,889	170,648 14,700
		774,961	185,348
Investment management	costs
Porffolio management		3,845	5,895
TOTAL COST OF RAISING FUNDS		821,153	200,361

6	CHARITABLE ACTMTY	CHARITABLE ACTMTY	CHARITABLE ACTMTY	COSTS	COSTS			Direct	Support
								Costs	Costs
								(see note 7) f	(see note 8) f	Totalf
	Ministry							285,074	123,430	408,504
	Cathedral and Precinct upkeep							386,987	78,547	465,534
	Education and Outreach							50,328	22,442	72,770
								722,389	224,419	946,808
7	DIRECT COSTS OF	CHARITABLE ACTIVITIES						2022		2021
	Organist, choirmaster	and		choir				122,923		97,795
	Choir Expenses							6,952		3,657
	Concert Expenses							4,590
	Organists Lodgings							22,483		5,357
	Scholars Lodgings —Wayside							9,507		5,418
	Treasury House running		costs					661
	Organ tuning &other	organ expenses						5,881		8,219
	Music Deparlment Costs							5,148
	Ministry wages							78,906		91,879
	Performing rights society							3,211		915
	Staff expenses							(560)		1,939
	Canonry expenses							4,827		5,782
	Wine, wafers and candles							3,170		3,680
	York Project							620
	Vergers' accommodation							16,755		4,737
	Heating and lighting							52,210		52,678
	General repairs, renewals			8 cleaning				16,368		35,342
	Contractors							92,188		64,724
	Bishops Palace							4,953		4,912
	Cathedral wages							77,580		78,299
	Rent, rates, water and insurance							35,050		40,639
	Security and Alarms							5,404		7,091
	Flowers							3,267		1,821
	Cloisters running costs							8,513		8,144
	Quinquennial costs							6,000		1,424
	Library Costs							6,437		5,116
	Capital projects							79,017		8,951
	Ancient and Modern							0		2,000
	Ty'r Pererin —Wages	and		running		costs		50,328		47,040
								722,389		587,559
	Capital Projects Comprise:
	Repairs to Organists	Lodgings								4,300
	Electrical work to the	Cathedral								4,651
	Thomas Beckett Chapel							10,300
	East End Parapet Wall Repairs							42,952
	York Project							17,365
	Repairs to Organists	Lodgings			boundary		Wall	8,400
								79,017		8,951

							Governance
8	SUPPORT COSTS					Management	Costs	Total
						E	E	E
	Ministry Cathedral and Precinct upkeep Education and Outreach					119,003 75,729 21,637	4,428 2,818 805	123,430 78,547 22,442
						216,369	8,050	224,419
	Support costs, induded	in the	above,	are as follows:
	Management				Cathedral
					&Precinct	Education	2022	2021
				Ministry	Upkeep	&Outreach	Total	Total
				E	E	E	E	E
	Salaries and wages Recruitment expenses Staff Training Telephone PP &S			71,528 2,652 743 1,781 6,860	45,518 1,688 473 1,134 4,366	13,005 482 135 324 1,247	130,051 4,822 1,350 3,239 12,473	130,906 3,065 0 6,340 13,453
	Conference and Meetings Computer Expense Legal Fees Marketing Sundry expenses Bank Charges Professional Fess			651 3,789 1,126 2,611 4,817 216 6,549	414 2,411 717 1,661 3,066 138 4,167	118 689 205 475 876 39 1,191	1,184 6,889 2,048 4,747 8,759 393 11,907	2,448 8,904 7,651 4,487 3,339 525 5,066
	Prof fees - HR Consultant			3,358	2,137	611	6,105	6,035
	Hospitality/Events Donations made			935 0	595 0	170 0	1,700 0	0 0
	Depreciation Bad Debts			3,358 1,140	2,137 726	611 207	6,105 2,073	6,109 0
	Non recoverable VAT			6,888	4,383	1,252	12,524	8,192
				119,003	75,729	21,637	216,369	206,520
					Cathedral
					&Precinct	Education	2022	2021
				Ministry	Upkeep	8 Outreach	Total	Total
					F	E	E	E
	Governance Costs
	Auditors Remuneration			4428	2,818	805	8,050	5,050
9	TRUSTEES REMUNERATION		AND	BENEFITS			2022	2021
							E	E
	Trustees Remuneration						Nil	Nil
	The Aggregate amount ofexpenses			paid to Board member			949	321

STAFF COSTS	STAFF COSTS	STAFF COSTS				2022	2021f
Gross wages						438,320	381,626
Social security		costs				30,315	23,012
Pension Contributions						20,479	16,292
						489 114	420	930
No employees		received emoluments	in excess off60,000.
The average	number ofemployees		during the year	calculated	on full time equivalents
was as follows:
Festival
Ministry
Music
Cathedral and		Upkeep
Education
Administration
						18		17
						2022	2021
The average head count ofemployed			staff members	for the year		25		24

			Group		Charity
11	NET INCOMING	RESOURCES	2022	2021 f	2022 f	2021 f
	Net income is stated after charging/(crediting):
	Auditors remuneration		8,050	4,200	8,050	4,200
	Depreciation		7,201	6,768	6,105	6,109
	Rents receivable		24,840	25,467	24,840	25,467

TANGIBLE FIXEDASSETS
	Office 8 Othei	Refectory	Treasury	Bookshop
Group	Equipment	Equipment	Equipment	Equipment	Total
	E	E		E	K
Cost
As at 01 January 2022	96,923	123,224	146,563	19,939	386,649
Additions				5,057	5,057
(Disposals)
As at 31 December 2022	96,923	123224	146,563	24996	391,706
Depreciation
As at 01 January 2022	89,711	123,224	146,563	14,023	373,521
Charge	6,105			1,096	7,201
As at 31 December 2022	95,816	123224	146,563	15119	380,722
Net Book Value
As at 31 December 2021	7,212			5,916	13,128
As at 31 December 2022	1,107			9,877	10,984

FIXEDASSET INVESTMENTS			As Restated
		2022	2021
		E	E
Market value at 01 January 2022 (2021)		795,895	687,184
Prior Period Ad)ustment (note 23)		0	44,205
Additions to investments at cost		55,465	121,766
Disposals Realised and Unrealised gains/(losses)	on investments	(216,396) (122,611)	(114,468) 57,208
Market value at 31 December 2022 (2021)		512,353	795,895

	will be obtaining a valuat	ion		in the year ended 31 Dece	mber 2023.	mber 2023.
					Group		Chewy
15	STOCKS				2022 f	2021 E	2022 f	2021 f
	Stocks ofgoods purchased			for resale	47824	94473
					Group		CharIty
16	DEBTORS				2022 E	2021 E	2022 f	2021 f
	Trade debtors				2,154	22,834	2,154	22,834
	Gift Aid receivable				1,568	5,760	1,568	5,760
	Other debtors				2,194	11,859	2,194	11,674
	Prepayments and accrued Amounts due from trading		income subsidiary		81,260	27,809	74,550 171,754	27,344 121,442
					87,176	68,262	252,220	189,054
					Group		Charity
17	CREDITORS; amounts one year	falling due within			2022 f	2021 f	2022 f	2021 f
	Trade Creditors				5,566	32,006	4,198	18,709
	Other Taxes and Social Security Costs Accruals and other deferred income				18,575 266,137	17,188 27,490	15,060 244,430	14,867 25,333
					290,278	76,684	263,688	58,909
18	ANALYSIS OF GROUP FUNDS	NET ASSETS BETWEEN				Unresbicted f	Restricted E	Totalf
	Tangible assets Investments					10,984 354,050	158,303	10,984 512,353
	Investment Property Current Assets					217,499 325,341	50,001 1,297,073	267,500 1,622,414
	Current Liabilities					(231,406)	(58,872)	(290,278)
						676,468	1,446,505	2,122,973

						Net	Transfer
19	MOVEMENT IN FUNDS				As Restated	Movement	between
	Unrestricted Funds				At 01.01.22 f	In funds f	funds F	At 31.12.22 f
	General Fund				1,210,958	(534,701)	(8,366)	667,891
	Designated Funds
	Library Fund Rower Fund				4,545 4,469	(5,823) (2,485)	1,278	0 1,984
	Organ Fund Dr Judith Hilton Bequest Deans Discretionary Fund Festival Fund				565 57 53,938	(565) 2,000 (51,092)		2,000 57 2,846
	Deans Expenses					(368)	2,058	1,690
	Canon Watkins Legacy				4,218	(4,218)
					1,278,750	(597,252)	(5,030)	676,468
	Restricted Funds
	Choir Music Fund				668	(668)
	Property and Equipment Friends Scholarship Fund Friends Flower Fund				50,001 22,625 3,247	(10,855)		50,001 11,770 3,247
	Friends Giber Funds				55,652			55,652
	Tudor Church Music				34,146	10,000		44,146
	Organist Fund Millennium Fund				200,731 3,859	(47,458) (3,859)	5,030	158,303 0
	W M Jones Fund				970	(970)
	Organ Scholar Fund Ty'r Pererin Friends Fund				39,931 21,172	(8,597) (8,000)		31,334 13,172
	Edward Parks Legacy Bevan Locke Legacy				10,000	(10,000) 1,064,294		0 1,064,294
	Representative Body Cathedral Choir Fund	ofthe	Church	in Wales		0 14,586		0 14,586
	Lord Bishop ofSt Davids - Sister Order ofthe Military		Thomas Beckett & Hospitaller Order of		1,250	0 (1,250)		0 0
	StThomas Aeon
					444,252	997,223	5,030	1,446,505
	TOTAL FUNDS				1,723,002	399,971	0	2,122,973

						Incoming	Resources	Gains and	Movement
19	MOVEMENT IN FUNDS (continued)					Resources	Expended	Losses	in Funds
						E	E	E	E
	Unrestricted Funds
	General Fund					889,382	(1,348,855)	(75,228)	(534,701)
	Designated Funds
	Library Fund Flower Fund					2,119 929	(7,942) (3,414)		(5,823) (2,485)
	Organ Fund Fesbval Fund					95,797	(565) (146,889)		(565) (51,092)
	Deans Expenses Dr Judith Hilton Bequest					0 2,000	(368)		(368) 2,000
	Canon Watkins Legacy						(4,218)		(4,218)
						990,227	(1,512,251)	(75,228)	(597,252)
	Restricted Funds
	Representative Body	ofthe Church		in Wales		71,000	(71,000)		0
	All Churches Trust Limited						(22,064)		0
	Friends Wages Fund Friends Scholarship Fund					25,297 8,250	(25,297) (19,105)		0 (10,855)
	Lord Sishop ofSt Davids - Cathedral Choir Fund		Thomas	Beckett		15,000 18,000	(15,000) (3,414)		0 14,586
	Bevan/Locke Legacy					1,092,995	(28,701)		1,064,294
	Ty'r Pererin					1,383	(1,383)		0
	Cadw					25,000	(25,000)		0
	Ty'r Pererin Friends Fund						(8,000)		(8,000)
	Choir Music						(668)		(668)
	WM Jones						(970)		(970)
	Organist Fund Millennium Fund					4,855 1,487	(1,576) (5,346)	(50,737)	(47,458) (3,859)
	Tudor Music					10,000			10,000
	Cemetery Fund Edward Parks					7,444	(7,444) (10,000)		0 (10,000)
	Vox Choir					895	(895)		0
	Organ Scholar Fund Sister Order ofthe Military		&Hospitaller		Order of		(8,597) (1,250)		(8,597) (1,250)
	StThomas Aeon
						1,303,670	(255,710)	(50,737)	997,223
	TOTAL MOVEMENT	IN FUNDS				2,293,897	(1,767,961)	(125,965	399,971

A summary oft	he results ofSt Davids Cathedral Bo	okshop Limited is given below.
		2022	2021
Profit and Loss Account
Sales		420,597	159,886
Cost ofsales		(238,306)	(85,040)
Gross Profit		182,291	74,846
Overheads		(389,766)	(81,668)
		(207,475)	(6,822)
Other Operating	Income	77,810	19,136
Profit for the financial year		(129,665)	12,314
Gift Aid donated	to Charity		(9,086)
(Loss)/Profit carried forward		(129,665)	3,228
Balance Sheet		2022	2021
Fixed Assets		9,877	5,916
Stock		47,824	94,473
Debtors		6,711	465
Cash at bank		25,190	50,570
Due to Dean &Chapter		(171,754)	(121,442)
Other creditors		(26,591)	(17,775)
Retained Reserves		(108,743)	12,207

				Unrestricted	Restricted	2022	2021
INCOME AND	ENDOWMENTS			Funds f	Funds f	Totalf	Totalf
Donations and	legacies
Collections				162,375		162,375	92,193
Gift Aid				9,938	421	10,359	6,416
Votive Candles				25,114	0	25,114	21,803
Legacies				28,829	1,102,995	1,131,824	49,001
Grants				74,960	151,064	226,024	320,196
Friends - re wages					25,297	25,297	24,665
Friends —re Choral		Scholars			8,250	8,250	8,250
Cemetery Account					7,433	7,433	7,137
Flower Oonabons				826		826	170
Other Donations				17,327	895	18,222	12,618
Cefnogwyr Ty'r	Pererin				1,245	1,245	1,112
Millenium Appeal Donations					1,192	1,192	1,231
Festival Donations		and	Sponsorship	16,869		16,869	5,506
				336,238	1,298,792	1,635,030	550,298
Other trading activities
Shop income				498,407		498,407	159,886
Concerts and Exhibitions				30,964		30,964	13,149
Filming Fees				1,867		1,867	2,300
Tours, visits and	library			10,337		10,337	1,596
Ty'r Pererin Education			Centre	5,510		5,510	3,494
Refectory Income				0		0	14,819
St Davids Cathedral		Festival		50,481		50,481
				597,566	0	597,566	195,244
Inveshnent income
Rent - Goat Street				24,840		24,840	20,415
Rent —Aerial				6,313		6,313	5,052
Dividend income				9,947	4,855	14,802	13,550
Deposit account	interest			181	23	204	81
				41,281	4,878	46,159	39,098
Other income
Sundry Income				15,142		15,142	3,035
VAT Recovered
Bank Account introduced
Insurance claim
				15,142	0	15,142	3,035
Total Incoming	Resources			990,227	1,303,670	2,293,897	787,675
This page does	not	form part ofthe statutory accounts

					Unrestricted	Restricted	Restricted	2022	2021
EXPENDITURE					Funds f	Funds f		Totalf	Total f.
Raising donations and legacies
-Goat Street property	costs				38,386			38,386	5,106
- Porth YTwr Expenses					0		388	388	0
- Donation charges					3,573			3,573	4,012
					41,959		388	42,347	9,118
Other trading activities
—Bookshop and Porth	y Twr		purchases		628,072			628,072	170,648
- Festival Expenses					146,889			146,889	14,700
					774,961		0	774,961	185,348
Investment management		costs
Porffolio management					2,269	1,576		3,845	5,895
Charitable Activities
(i) Ministry
Organist, choirmaster		and choir			93,584	29,339		122,923	97,795
Choir Expenses					2,643	4,309		6,952	3,657
Concert Expenses					4,590			4,590
Organists Lodgings					22,483			22,483	5,357
Scholars Lodgings	-Wayside				9,507			9,507	5,418
Treasury House running			costs		661			661
Organ tuning &other organ expenses					5,881			5,881	8,219
Music Department	Costs				5,148			5,148
Ministry wages					53,609	25,297		78,906	91,879
Performing rights society					3,211			3,211	915
Staff expenses					(560)			(560)	1,939
Canonry expenses					4,827			4,827	5,782
Wine, wafers and candles					3,170			3,170	3,680
York Project					620			620
Vergers' accommodation					16,755			16,755	4,737
(ii) Cathedral and precincts			upkeep
Heating and lighting					52,210			52,210	52,678
General repairs, renewals			&cleaning		10,081	6,287		16,368	35,342
Contractors					84,744	7,444		92,188	64,724
Bishops Palace Toilets		Cleaning		Materials	4,953			4,953	4,912
Cathedral wages					77,580			77,580	78,299
Rent, rates, water and		insurance			35,050			35,050	40,639
Security and Alarms					5,404			5,404	7,091
Flowers					3,267			3,267	1,821
Cloisters running costs					8,513			8,513	8,144
Quinquennial costs						6,000		6,000	1,424
Library Costs					6,437			6,437	5,116
Capital projects					8,400	70,617		79,017	8,951

				Unrestricted	Restricted	2022	2021
				Funds F	Funds 6	Total 6	Totalf
(iii) Education and outreach
Ancient and Modem							2,000
Ty'r Pererin —Wages				8,956	30,064	39,020	37,158
	—Year of Pilgrimage			135		135
	- Other running		costs	9,790	1,383	11,173	9,882
				541,649	180,740	722,389	587,559
Governance Costs
Auditors remuneration				8,050	0	8,050	4,200
Support Costs
Management
Administrative services
Salaries and wages				64,051	66,000	130,051	130,906
Recruitment expenses				4,822		4,822	3,065
Staif Training				1,350		1,350
Telephone PP &S				3,239 12,473		3,239 12,473	6,340 13,453
Conference and	Meetings			1,184		1,184	2,448
Computer Expense				6,889		6,889	8,904
Legal Fees				2,048		2,048	7,651
Marketing				4,747		4,747	4,487
Other expenditure
Sundry expenses				8,759		8,759	3,339
Bank Charges				369	24	393	525
Professional Fees				4,925	6,982	11,907	5,066
Prof fees —HR Consultant				6,105		6,105	6,035
Hospitality/Events				1,700		1,700
Donations made
Depreciation				6,105		6,105	6,109
Bad Debts				2,073		2,073	0
Non recoverable	VAT			12,524		12,524	8,192
				143,363	73,006	216,369	206,520
Total Resources Expended				1,512,251	255,710	1,767,961	998,640
Net (Expenditure)/income		before gains	and losses	(522,024)	1,047,960	525,936	(210,965)
Realised recognised	gains and losses
Realised gains/(losses)	on	fixed asset	investments	(75,228)	(50,737)	(125,965)	68,842
Transfers between funds				(5,030)	5,030
NET INCOME				(602,282)	1,002,253	399,971	(142,123