REPORT OF THE TRUSTEE8 AND THE CON8CLIDATED FINANCIAL STATEIIENTS FOR THE YEAR alOED 31 DECEMBER 2023 FOR THE DEAN AND CHAPTER OF ST DAVIDS CATHEDRAL Pw1 k.. 115911B THE DEAN AMD CHAPTERQF 8T DAVIDS CATHEDRAL coiirENTS OF THE FINAMCk4L 8TATEIIIEPffi8 FOR THE YEAR ENDED 31 DECEMBER 2023 Rowt ofthe TrLWt8•8 3-10 flep￿t olthe Inder4n(knnl AudrfrK8 Strt￿ ofFIn￿dat￿tiyl￿Pl 15 Con801hlatsd 8rKI Chodty B•lafKe Str 18 Cash Fltrrf Slatenwnt 17 )t•8 b the CaBh Flow St8tw•nt 18 We8 to the FinanoaÈ Slaterrnnts 19-34 Delalad StatoM￿t01 Fthsnc￿ Acil¥lUos 35-38 P•w2 1159118 THE DEAN AND CHAPTER OF ST DAVD8 CATHEDRAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Th• tru8tees pr￿n1 th*r report wKh the flnandal ¥totsMents Of tho ¢h*rtty rDr the year ende(J 31 DpwTrber 2023. The Iw8ts•s have adooed th8 provbionj of P£¢ount¥u and Reportlng by Charltios.. Stal•Anent of Re¢L¥n￿￿￿ed Pr8cUce ¥*pl(cabf• to tharlUt$ pr¢p•Ang Ihelr •¢ceunts In accordance with the Repwling &aTra8rd apyicalye kn the UK and R¢pubtkol Ireland IFRS 102) (eff•th¢ 1 thIu*y 2019). OWECTIVES AND AcrNmES O*Gtlv•• and alffl8 Thg Charft8We obRcfvts of Doan and Chapttr of St D•vtds Cathedr41. Lth •hort tem and long term ar8: 1. to ad￿nCe tho Chrlgllan Relision of the Church In Walqjj for￿ b•n•fiL 2. to promote the m5Bsf¢>n Church In Wale* 81gnMcort •Gllvlll•s T￿ Ch•rtty athlwe8 th9s0 obje¢￿￿ by, amorg dhfjrthlng8'. 1. we8￿ted to Ihe highest •tandard• InCI￿aIng a saqu•nc• of op•¢lal oeMe•8 frum Advent k+ Cand18mo8, and thrO￿h Len¢ Holy Week and E¥8ter. 2 +xtha¢h irtluding tlwh s>Jr fjducatk￿ And pllgrknage Gentre to sclwol$ and tg vli]tor8 aTrJ pllgrlms. mlnbty ofw*ome lo wsitorn to the Cathe(Iral and th• prornotknn of •rt and mu* Ihro exhibitron¥ and ¢OfKerts. Publk B•n•fit We have ref•rrnd to th? gLldaru ¢ontslned in the Charty C¢mmissions general guidanc• on publk ber*fft when revifjwlng our alms and Ob￿¢￿ and In plonnlng oul t)Jture activth¥. The folbvAng activh18¥ are ￿ns￿lI[0d to fthr the ChW• purpose ft>r the publlc ben•fit 1. daity aNJ oK4¥ional Se￿¢8¥ cthiThiation8 ranglng from undorS trj ov•r 500 outr•ath a8 detailed ab¢ve re*fyllng overfvo thousand young people adums each y83r. 3. ministy ofwet¥ine b over hundred thouiand vl8ltors ea¢h y•¥. S•DJt¢e $ttend¥noe and vi&knr numbers hav• bgen rnonrtoredto an of achievements ol goa18. wth thè fiowe8 atvJve rdallng to the pr•-PAndernSc perfod. tthvardo %thich there 1$ grathjal, and contlnulng, rewm. P4•3 thathP*ratknNo'. 11591 THE DEAN AND CHAPTER OF 8T DAMD8 CATHEDRAL REPORf OF THE TRU3TEE8 FOR THE YEAR ENDED 31 DECEMBQR 2023 Volunt••r* The Dean and Chapt•rvakwlha 8normrAn con1r1t￿btin ol¥c4untèerswho let￿ •tèward8for#er¥l¢e• and conc•wts. ￿pport oureduGgtiorwl 0￿reach kwrdm and ourn¥jiicdap•rtn￿L •1818t h thé Ibr8ry, arrangg knvorn. ring b•li, run w COTrfflu￿ty garden, and In many Llherymy ACHIEVEMENT AND PERFORMANCE Charitsblo Actlvltl•• Through 2023 th• Cathedrnl ¢oniknLb•d to conwlhd4t¢ a prfrpandemk15fv. The (￿kn￿red by th• ￿abr3tk￿ ty bolh Catrwdral and txocwe of St Davkl$, from Alfve 2022 to Athenl 2023. ofthè gjoth am￿rgory ofthe 1123 de¢IwatiC￿ by Popo Calllxkni11 WKI thalts pilgrimagu to St Davkl8 w•r• of equal ¥￿￿ts to one to Rome. A ranga of s￿1 wlcas, ￿19r￿a9 ond plluYimwrel•ted *ctfvitie*. PartIc￿0￿Y includlng dlo¢e8an and parflh gYoup8 - Interncllve dwplays, exhibthi. cM¢erts and olher events were run or hothd by th• Cath8dral, The educali and pllgrlrrAge c•ntre, TP'r Pererin. let this work, supported by tho muslc and litur9y t¢am. The hl polnl w8$ a Wales44id• f•BknI ￿NICe celeLYating Salnt Dthd. Devh Sanl by the Ard)bi8ly of IthIp8. and attonded by the rEgt clth• b•Kh ofblBhcp8 the range ol eC￿e￿al aThl dtgnitaries from acrw Ihe nation. vknlth hdd on 25 J(ty. the fe88t d8y of Salnt James. thè patron Saint af pllgrfrn$. Th￿e ￿n$la0[ab￿ coveTrge fDr th• yearf& e￿ts, ￿rtIc￿e￿ from BBC Radlo Special cel•bratiOn8 ￿re dso hekl to rna￿ th• cororatkn of lfjng cl￿desI1[. vAlh k•y Items from the coron8llon 8ervke repeated by Cathedrnl Cholr In thoral thafdkwjwig fflomir4. Th*r Roy41 Hlghne5888, the Pfince aNJ PrfnG¢¥$ of W8te8. on 8 Soptsmber. for a Short 8enil¢e, Ad of Reflectlon on AceesBlon Da￿ (orlhe fir8t8nnlvern8ry ofth& d•ath ofHorLate MaSe8ty, Queen ElrLab•th 11, wlth flawws bld befDre an offic4ol portra6t of the lats Quwi. The royal couple then toured L¥thèdral and mat memberB of Ihe lu¢al communjty. uslc thrlved rTh)re ¥%lddy, In wmhSp jnd In ccne8rt8 wo offw or ho#( thoLW no Fe8tW hoid followw4J the fiMncl*l (Afficuldes 012022. The CHthedrnl, its Ilw￿¢, pllgrhnag• and hÈrftw featwed mfft tKAdly rm TV, r•JK). and other medl& Tg'r Pererln, hKludlng Dut not onty Ihrwgh th• Y•8r c Pilgrirwe. devetoped its re￿rceS ¢8pacty. Tri# YM8 hdptrd by th• artval rf a new full tim• marnL*r Df th• dBrgy team. the CAMn Ptstor for Parf$h and Pli grlffl890, a ffiu8nt Wel¥h wakw. Our rang• of tours for vi8iim ecrtlNed to exteThJ, in¢ludlng J¢lfvtYesto maTk Ine 800th annfv•￿ary of th• death of Gerald of W*1￿, tyurlrfl in th• Cathedral. Erw ￿ Kle*l'• A¢rè. the eammunty gorden •stsbli8h•d und•r thkdowm. thrivad fvth•r. Th¢ Rlghl R￿ore￿JJO￿na 8 P•nb•rthyretir•d 8# Bi$hopofStDAvlth ¢Jfi 31 Jtsty2tr23. Her8ucuuor, thpn the ArchdsaGon of ¢am#rth•n l• M•￿bar of Chapter, Ind otso i Trustee). tht Venerabl? Pffj•4 TrE DEAN AND CHAiYfER OF SY DAVIDS CATHEDRAL REpoKf OF THE TRUSTEE8 F(kg THE YEAR ENDED 31 DECEMBER 2023 Dothen P D￿les, el•cte(l on'17 Oclvlxr W23, at an sYr￿d h•id withln the Calhedral. HIS elathn Vds ¢crthrned at a Sau¢d SyTrJd In Cardmf on 29 Nov•mber 2023, at ￿ttl¢h polnt h assumed Iho ￿gaI T￿pOnSIbIrrt￿ ol ￿1ftg of St D￿[th. H• w48 consecrated ￿ 27 Janu 2024. and &nthron¢d in the cathedral on 3 February 2024. Golry Conc•m Foll￿￿n9 ￿ dIffl¢￿ fln8nelal year of 2022, consldwabb fooji w48 given its improving the 8tbJ•tton, dgsplle the fact.that thr￿gh the y•ar a8 a whol? nurnber8 remwned almost one thtrd duwn on 2019 I￿19 (WI￿¢01 donalioni and ipending r￿n6th8￿8 rgmBln w l*wt th9Sp 8ource ot Inwmel. Fd10￿ng delayed operNng of S•ptwnber 2022, the Shop and café in th• cty Square nav8r ltr#fved and dosed in May 2tr23, and the Cathedral Refkny ￿1¢h af80 8trwl4d wlth profftabS11ty, cea8e(l tradlng In Sept•mber. the lorqgtsNllng bookjgrft ahop$ ￿thIn and ￿side the Cathedral hwe conscQdat8d thelr wofitabsif(y, 8rKI are i1gnM¢onlty increuing t¢th tumov•r and profft yearon ye•r•$ 2024 unfoEd8. Variou¥ 8tsp#ww¢ ¥uKe¥Jfvlty rnadelo enhan￿ donattons. •nd 8180 generalt thpJugh 0￿r adv1￿9. kndudlNJ cgrofufty focu8al corthrts, plgrtrnag• Ind lour8. CbBe monitorkng •nd ¢orthil of ￿th kK¢me and exp•ndtlurn ¥lgnfficanlty reduced th8 d•ffdt b•1 2022 levels. ond th• accounts ran In through IIK* ¥econd4aW of th? year. Wth r981nJdww of Cathedral flnanddg from the R•pro8enlatlve Boty olth& ChurL* In Wal*i, and thr Dlwse ol &inl DavK18, resuftlng In 8 n#t lortrterm irKTrase, cornlng on stream th January 2024, 8uiplus Is wolKtsd for 2024 8$ a vttK+￿. TN* additional fvr￿ng I￿lud•S M allotxbon uf £45,000. h vthl bo rry￿d kn 2025 and 2026 onty. Therg wwe no Ma1￿ Imjllilty requlomnts d￿n9 tha year. trth9h advantage vrd• taken ol grnnl fvndu)g lo undertake wuk on thg tyJt¢r wall of tho SoLth Prn8bytery. Rwtne malntsnanGe continue Preparatbn¥ began ft*r atharemng tho malry futur# work on the tower other areal high￿Ihted In Ihg W£$1 q￿qU￿nn¢￿ Insp8ctlon r•porL Thgugh 2023 renMkn•il a Chall￿g￿qYtor. the Tru8tees ar• sthsfifjd that the aC0v￿88 ofthe yearhov? l•ryely •chleved the Charty's otykn•s, whil? in pwaTrel •n8urlngthaltht underfykngfinancBI sltu* has been slgntfieandy improved h the short twm, The longer twm goal of Impmmng financid stabNty 18 nom belrwJ pursL*d vlth wno canfidence, Itrt)uqh ￿411 ¢orttnuo to n*1 con8lderabl8 e4re Ihwh Ihe n8xt few yearl, Tho Tfu5tee8 ha￿ Ixrduded that there a reasona￿8 expectstron that the charlty and ￿ tradkng Sub￿dIary h88 •Jequate resE¥urces tr) contlnue fof the fore8eeablB fvtwe arhj havB continuod t¢* adopt th• golng eonG•m ba5[4 in preparing th• flnanclal 8tatsrrth. Pag¢ 6 rItyRe￿Ath)￿N￿i1591l• THE DEAN AIKI CHAPTER OF ST DAVIDS CATHEDRAL AWRT OF ThE TRUSTeE8 F(JR ThE YEAR ENDED 31 DECEIABER 2023 Fifw4CIAL REVIEW Flna•Elal pO￿n resurtsforltte￿arertd•d 31 December2023 aT• •hoth lrt theconsolidaled Slaternent of Hnancial ActW¢s on page 16. Thi$ $hM th•flnand&l resultsforTh Dgan and Cl)aplerof8t D￿4￿8 Cath•thl d its trathng s￿91￿8ry Sl Dthds Cathedral 8o¢kthop Umlted. ￿ 4t th• 31 De￿nber 2023 Ihe ¢harty hdd totslfiJnd$ of£k916,01512022 É2,122.973) vthlch Indudos ￿restri￿Cdfund0 of £689,585 12022£676.4881. T￿ CUThEnt16val offrea reseNes aMoV*3thetruste8Sto(￿tinU?￿thIthren￿v(Wr1 to wrnue th• obJectlNu ofts tharfty. IncoTh.' Th? tclal TrKom r•¢xfv•d In 2023 wae £1.209,534 (2022 £2,293,897). The m*n leas￿ f the decrease compwed to the p￿￿ou¥ y8ar VAS due to draw down of In 2022 ¥nd red￿￿d s￿68 trNn tte tra1￿9 $ubsldLqry. ExpthKllturn.' Tho total expendtture for 2022 wa8 £1,393,78412022 £1,787,961). ￿ fflaln ru48on for the decrea8e ¢ompwad to the prwin8 y•ar due to r¢du￿d o)sts In the trodlnq subBidlary overall effieiencles. The TrLMts•$ •nnudty rnonitor the rf8k8 both frAneial and faclng th• tharfty and us•. appropri•t*, sP￿alSt consuttalts to mnlorlhè ri8k8 and adv180 upon any ne¢esw. Invo•tm•nt pollcy and obi•cli¥•• Truitaes 88ak to maximiw ffinan¢i#l re￿M frfffj re8erye$ ov¢rthe long lern. Resemg ttjal Ore nOt￿ticIpa￿d to b• called upon in the *hort tsrrn are held h portlollo In￿￿￿6￿￿ ￿je1 the ¢orrtrol of le￿gnIS8d Invostmenl man•gers to •chlev• captsl groth, vthll3t at ts •ome time, minini8e th• rf&k of los R•wvM polley The Chaptar pLqn to mAintaln free re￿￿5 m4intwjan￿ ofth• fa￿1¢ ofth• Cathe(tral. •nd also the deveknpment of musk In the catheth￿. and other Cm 8thtk•s. The level tsf Im re8erves a8 •¢ 31 DeK8mber 2023 arnoun￿ to £395,639 (2022 fA47,9851. 8••rk)g In mind that th• amual ¢xpendthr& ranges betsveèn £750.000 £gSO,000, tr* twst•es r•cogniie Ihat tha C￿T￿nI lewl of free re8erves181é88 than klealty ccffigtrLthd. •nd there*)re ar• GonlkniAng to tske to •nsura that the charty be abl• to C4rynllnutt In th•futyr¢ to rneat Its charltabk obJ¢theg. FUTURE PLAMS Focug on ts core oblecuveg C¢KrtInu￿. t•the ebB• attenllon o)rrtlnug8 to b• to thn9th￿l flnanoAI ¥u$tsin•blNty. Th18 bKludes furth•r d•v•kwment of Opportun1ti￿ tr ￿81t0r gl¥lnJ kn¢ludi through Contactk￿ points 8nd tr￿￿Ork ofthewalcomlng ts8m' Ihe careful •ncourwwrt ollh• t4x>kl grft shops: a TrtpJn of the Fest￿al., and othar c8r•ful inAiatives. THE DEAPI AND CHAPTER OF 8T DAVID8 CATHEDRAL REPORT OF THE 7RUSTEes FOR THE YEAR ENDED 31 DECEMBER 2023 Malntenance wtyk on tho Cathedrnl buildlng13 &￿y$ gly￿ carnfvl thntion. Furth8r 8lep8 ￿11 be laken tovrfd• prcgressiryd the maJor I￿￿dIn9 proJ•ct T￿tsed on th8 tmr that was Ind*at•d in the Qulnqu•nnlal In8px¥cft. Th14 wll requw• iigr4fir2ntfurrtlrots5ng. kn Fqrtn•r¥hip m￿orgrant t#)th•s. Th8 context ol thè **l•r oconomle dimat• h Ilkely to require the tru8ta•s ID gfve parttcularty ¢1080 •ttention tg lh8 flnanclal underFdnnlng ofth• tharW$ acUvltt•s the coming ye•r•. STRUCTURE, GOVERNANCEAMD IA4NAGEMENT G(v•mlng do¢￿￿tt ¢Wty ts COMroJled by it$ 90¥6rNng d￿merI • dead Dftru8t, and ccn•thit¢* an unl￿¢(p￿8t•d chaty. Th? Cathedral is govern￿ by Its Dged of Consti￿￿On ￿k* adopted on 31 Juty 2014. Tfte Dean & Chapl•r ad)pt8d a govamaw do¢urnonl, •imod al fflovjng Ihe Caihedrn]* ovwsighli govemarKe. aThJ m•nagemtrnl toNwd# Arfent best prncthce on 19 AMI 2018, and mad• mir4x ￿￿Slon9 on 28 Jvly 2018. Furth•ramgndThnt8vRre mad• on 30 Juty 2020torKovthforeJeGtrontG meelngg and de¢lgion makln9, ano onllne meetlngs wwo accordngty h•ld by both th• D&•n & Chapter gnd by the Flllanc¢ su￿cOMMIttee. to rnnltor eThY guld• the trough the chiNenye8 ollhe pand•mic. Tho Dwi & Ch•*er St Da￿d8 Cath8dral a rngst8r8d ¢harfty on Tr knmber 2014. Oryanl•atk￿al *truciurv The (*-to.day rnanagemwtt ofthe Cathedrnl18 th• r•JponslbW ofth• De•n, dx+ enwr•8 th8t decis1￿8 of Ihe Chapter are pul knlo acyon. Major 5tratsglc and fln¥nclJl decl8iMs arè tska) by the Chapter vknlch m•ets four Ym•8 eath yeor, 118 main m•eting being held d08e to the Fea81 ol St Jam¢8 in J￿y. The Chapter hai sutFcommrttKs to adv&• on matt•r& of Financ•, HR aThJ Pllgrfmage. Educatlon and Outre*i. Th• Bi6hop is not a m•rnt•r ofthvj Chaptsr Ixrt l• th• Vlglor undwth* twm• of dy* Calhedrd Sckn¢m&. i••hen malcr pmlwA4 ar• a￿•geo. lu1>￿mM￿￿ qrn get up to meet on 8 more rEgular bally than Chapt•r. Tha sukommaieesth•n f•ClI￿e•n￿ Monlk¢ yole¢ts aTKI rewt backtrJthe full Chapter. The Cathedral ctsopwalo8 YAth the G¢vemlng 8th and Repr•8entativE Body ofihe Churth in W8le8, and the Dioce8an ContsrenGe ofthè DIoc98ts0fSt Da￿￿3, tog•ifrervAth the Dloc•n 8oarnl ofFhn¢e, kn Lyder to fijlfll ministry alld rri88lon of the Cathedral. TM CaTh)ns arn appolnted Blshop olthe Oioc888 vtho, by wrtue oftheir rote, beome TrwBtee? ofthe D•an and Chaptgr. N•wly 8ppointedTN8ts08 ar¢ offerèd 8UPP¢rtand guldanGe upon theirduti •rA rtspon$iblUI]e• by lel(AvTru¥hoB. Pag• 7 CharftyWstThkn Its9118 THE DEAN AND CHAPTER OF ST DAVIDS CATHEDRAL REPORT TRUSTEE8 FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCEAND ADIINI8TrAT1￿E ￿AlL5 REGISTEREO CbLARifY Nuf¥lBER'. 1159118 ADDRESS Tho D•an•ty Sl Davlds P￿ly0k•shi[• SA62 6RD BISHOP The Rlght R•v•r•nd J S Panbwthy, MA. Mih, PAD- relrfjd 31 Juty 2023 The Rlght Reve￿￿ D P D•th, BA - olw*tn ccnfirmod 29 Noven*8r 2023, 27 Janu•ry 2024 and enthroned 3 F£brugry 2024 OEAN & PREc￿oR Vw Ravar•nd S C RoYAand Joneo. LVO. OBE. MA, PhD ARCHDEACONS 2017 2010 2018 2019 Venerable D P Da¥le8. BA-to 29 Novwnb•r 2023 Th• vener￿1& P Mackne$$. BA Venernbl• R H E ￿￿les, MBe BTh. FWS StDavKI¥ Cardlgan Now ChTIBtlan Communltse• Tlo Vfjnwabkn IA A F*ah, B4 MA {c¢cuples sts11 of M￿hrf) CANOMS 1ST ¢￿al Sobwelgfi Canon D J Ll Roberts LlandysUl¢)gogo Canon S E Jonu. &4. BTh ffr•a8ur•rl Sl N1¢h¢1￿. P•nyffo8 Canoh J P Lthw$. &4 Coerfarchgu Canon Rh M Johwn. MI. PhD, BD, DPT 4• Cursal Canon L L RlchardaM. ￿ BTh. PGCE C8ncn 141 H R¢thlAnts, ￿. BD 3rd Curs c￿On S Bate. 8A, BTh Cmal Canon M A R Hill, B& BD. Mphll. PhD Ca•rfai Canon A G LoaL BD, MTh Uanfa•8 Canon M L Ojbome RGN. BTh 5th Cur¥al Cafton J R Ce¢il. ￿ PGCE Ctydau Canon M S knsdl. B.Lb, PGCE, NPQH, Dip Thed LkntJd*•A c￿On S A Jame•. BAIHons). PGCE. MPhll, PGDIJ 112 Febrnary 20231 Vataftt Vacant 2013 2009 2014 2016 2016 2018 2018 2019 2019 2019 2022 2022 2023 Uan8an 6 Cursal P4g•8 fith"Iisg118 HONOIIARY CANONS Canon A M Cha¢**kk Canon D Dav￿9 Irtitirad 29 Novembèr2023) Canon A Htrwel CANOM uBRA￿AN C•non Rh M JDhnwn, W PhD, BD, DPT Mil• A J Lelgh Ho CHIEF OPERATIONS OFFICER CHAPTER CLERK MrA B C DavT•& LLB DIRECTOR OF MU81C Mr S P•ar¢e 3Mu# DEAN8 VERGER Mrc. Cffo)k• CANON8 VERGER Mr M l DavleB14pFdnle¢l 1 JaThJ*y 2023) 8Alm8 UDyd$ ewk Pk 7 Victorfa Pla Havwfordw PembrokesNre SA812JX REGISTERED ALIIXTORS Be￿ Bucklthnd UP CharteredA¢ccAmtart• & R¥g￿t91•d AwJlkn¥ 45 High Strp8t Pernbrokeghlre SA612BP SOLlI>TORS Jcp Go0￿Ck Hw90 Chamlxrn 19 Ktsst Street Rthguard P•mbrok88hfr SA65 9AL EVENT8 SINCE THE END OF THE YEAR IntomWon rElatkng to events ilnce the end ofth• y88r Is g￿n In the notss to the fin8nelal STATEIIENT OF TRUSTEES RESPON818ILmES The Iru8tee$ re8pJnslbkn far preparfng Ihg Report ofthe TnJ$tees and the flnanejal ¥tal*mnt& In >)rdan¢ewtth applica￿* ￿w1nd Urlted ￿ng￿orn ￿n1{na Standard8 IUnl8d lan￿*)M (knr81ty Accepted AccoLFnts'ng Pradce). PAO8 9 thm1e*L￿HD..Il59l Th• appl"cabte to Gtr(gritres tn EngL4nd Walè*. c￿r￿e¥ 2011. Cl%tr..ty IA¢te¢mts •nd Rep￿￿)RegUL91b)n$ 200B and <helwstdeÈd wtrVgthEtr￿freSlO prep¥efin4Th￿ ststeM￿foreath fln#ntsalyearvthich gr4* alFue ai01* v*ofthe8lJte otlhe thrs4fthe ctharity and of Ihe r¢10Ltrces BFgJcalkn iffAthg Ibe Ir￿me and 8xpÈnditure. ot tr*d•fc¢ihalFrtd. In ￿P4￿n9￿088 rIrhThd￿ Ihv ar•re¢¥theil fv. 4eltyrt wtt•bie accounmg pc4*1#5 ar¥J Ihm ¢pFlythem ￿nsISt￿ly. cb%ry¢ tho M￿hod$ 4nd th• C￿llY SORP.. m•k• 5udu•mÈnts asbmththat8re Frn￿, &le wtteth& #pplKakn #tandarth b*n f¢4W. wbj¥t to any artseo gxFlalnwJ fth*Ki414•teTh)8nts.' p¥•w& Itnantial sfatwntrts on th• yni Lx>rvm unl•s8 inapwpriats to P¢8sum8 Ih#t wiu ￿%)￿n￿e in bu8kn05$. The trustees are rtsrmbie fty keep*0 2ttounih)o re¢oTds ￿•¥Ch dtsclDse wltyt reasonJbl• Jracy Yrrtth8f4nanchql posthm Oll￿¢￿arfty ￿¥￿1￿1h￿Mto ensuré thatthÈ In*i•l st*ementsconwywth th• ch*￿e¥ kn120t1. th2Chxrty (Acc￿￿19 ind Rep0ft51 Reg1,'Ial￿fiI and th¢ otthetsustdeo￿ They aRakityrnspM¥thfoT$af8gvaNl￿g the a88ètsOfthec￿iIty 11a￿ ftyth8 yevenbwaryd detKlbn attr￿12￿doth8rknrryI￿1ths. tn M tsr 8Nthe aware.. l¥ rdwant audrt1nformgti￿I¥s d•fMed by Sectson 418 ofts Coryanl#É ?OCAg1. of¥Jhkhthe tharty aud(tc¢lBwaware.' 0￿j trusi¥¢g bawp18tsn dl stépsthatthey ¢X￿￿tIO hawetakefj to make Ihem ofany re￿¥*nI wtr+'t 4nd lo abtsbHththall*È athDr •ware oflhat Infom)¥liffi. Th• wusteu *e rwonsiblefvxthe and irt¢gtlydlhè fmancial Informal¥Jn fiwluded om th• thrhy w•bsiie. Logi$l*on kn lh& Unltad sv4•Mg of financial statE￿rI￿ MEY dfvfrtyn ¢Egdth*tsn in otherrJs*dKtion3. The9￿￿0rn. a￿￿￿ LLP. wil bo wiwdlcf rn•pptynbngrtat Ihe b]rth¢omlr4 gener•1 Tho Vory Reverwd Dr Sarah Rth4landJ)n85- Char ofTNstees P*D 10 Charty Reg15tration No.. 1159118 REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE DEAN AND CHAPTER OF ST DAVIDS CATHEDRAL Quallfled Oplnlon We have audlted the financial statements ofThe Dean and Chaptor ofSI Davids Cathedral Ithe'¢harity') and for the year ended 31 December 2023 whlch Comprise the Consolldated Ststement of Financlal ActiVit￿s, the Consolidaled Statement of Financial Position, the Consolidated Cash Flow Statement, and notes to the financial statem8n18. includlng a summary of S￿nIfIcant accounlng poltcies. The financial reporbng framgwork that has been applied in th8ir preparatlon is applicable law and United Kingdom Accountfng Standards, (United Kingdom Generally Accepted A¢¢ounting Practice) including Financial Reporting Standard 102 The FinancSal Reporting Standard appllcable In the UK and Republ1¢ of Ireland.. In our opinlon, except for the possible effoct$ of the matter described in the Basis for Quallffied Opinion $￿tiOn of our report the accompanyln9 consolidated finan¢ial Statement.. 9fv8 a true and fair view of the state of the group's and of the parent charitys affairs as at 31 December 2023 and of the group's d8ficit for the year then ended have been properfy prèpared in accordanGe with Unlted Kingdom Gen8r8lly Accepted Accounting Practke have been properly prepared in accord8n¢e wlth the requirements of the Companles Act 2006. Basls for qualifigd opinlon We were not appointed as auditors of the Group until after the 31 D￿ernber 2022 and thus we dl¢J not observe the counting of physical inventories at the beginning and end of the year. We were unable to satisfy ourselves by allernallve means concerning inventory quantitles held on 31 December 2021 and 31 December 2022. In addition, we were unable lo observe the counting of physical Inventories on 31 December 2023 We conducted our audit in accordance wth International Standards on Auditing {UK) {ISAs (UK) and applicable law. Our r85ponsibilities under those standards are lurther described in the Audlto¢8 responsibilrties for the audit of the financial ststements section of our reporL We are independent of the charity in acwrdance with the ethical requlrements that are relevanl to our audit of the financial statements in the UK includlng the FRC'S Ethical Standard and we have fvlfilled our other ethlcal responsibilities In accordance with these reqU1￿mentS. We believe that the audh 8viderKe we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons r•lating to golng ¢on¢ern In auditing the financial Ststemonts, we have Concluded that the trustees, use of the golng concern basi$ of accounting in the preparation of the financial stslements 15 appropriate. Based on the work we have porform•d, we have not identifi8d any material uncertalnties relating to events or condltlons that Indivldually or collectively, m8y ¢a5t significant doubt in the Group'$ and the parent charity to continue as a going concern for a perlod of at least tsvelve months Irom when the finan¢i81 statements are aulhorised for Issue. Charty ReOsLl3t5on No.. 115Y118 Our ￿spOnsIbIl￿e$ and the reBponsibilities of the trustees with reSp￿t to going concem are dwribed In the relevant sections of this report. othor IDforniatlon The trustees are responsible for th8 0th8r information. The other irrformation compri$&s th8 infomiation included in the Annual Report, other than the financial statements and our Report of the Auditors thereon. Our opinion on the financkql statements d08s not cover the other Inf0rn7ation, and. except to th8 extent othew5e explic1￿Y stated in our repo]t wa do not express any fomi of assurance Gonclusion thereon. In conne¢tK)n wilh ouraudit ofthe financial statements, our responsibility is to read the other information and, in doing so, consider whether th8 other infom)ation is materially inconsistent with the finan¢lal Statements, cr our knowledge obtained in the audit or otheNise appears to be materially misstatsd. If we identify such material inconsistencies or apparent materral mi$$talemenls, we are required to determina whether this gives rise to a material misstatement In the financial statements themselves. If, based on the work we have perfomi&d, we conclude that there is a material mlsstatement of this other information, w& are required to report that fa￿. We have nothing to report in this regard. Mattern on whleh w• arè roqulrod to rnport by oXC6Ptlon We have nothing lo report in respect of the followng matters where th& Charities (AC￿Unts and Reports) Regulations 2008 require us to reFQrt lo you rf, in our opinion: The information given in the Rewt of the Trustees is inconsistent in any material respect with the finanual ststements., or Sufficient 8ccounting records have not been kepL or The parent charity financial statements are not in agreement with the accounting records and retums We not received all the information and explanatlons we requlre for our audit R•sponsibilities of trusl•oS As explained more fully in the Statement of Trustees, Responsibilities, the trusl88s are ￿sponsIble for the preparation of the financial $latements whlch give a true and fair vw, and for such inlemal control a$ the tru$te&s detemine is necessary to enable the preparatlon of fflnancial slatements that are free from material mi8Statement. whether due to fraud or error. In Preparing the financial 8ta18m8nts, the trustees are responsible for assessing the Group's and charity's abilty as a going concern, disclosing, as applicable, matters relating to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic altemative but to do so. Our rgsponslblllllos for tho audll of the Ilnanclal statements We have been appointed as auditots und&r Sèction 144 of the Charities Act 2011 and rep)rt in 8¢¢ordance with the Act and relevant regulatSons made or having effect Ihereunder. Our objective5 are to obtsin reasonable assurance about whether the ffnancial statements as a whole are free from material misstatemenL whether due to fraud or emr, and to issue a Report of the Independent Auditors that includes our opinion. Raasonable assurancè is a high level of assurance but P•Je 12 CharltyReÉiitration No.. 1159118 is not a guarantee that an audrf( conducted in accordancè wtih ISAS IUKI will aws detect a material misstatement when it exists. Misstatements can arise from fraud or error and a￿ Considered material rf. individualty or In the aggregate, they Could reasonabty b8 expected to influ&n¢e the economic d￿l$lon5 of us8ts taken on Ihe basis of the ffinan¢ial st*ements. The extent to which our procedures are capable of detecting irregularities. includSng fraud is detailed below.. Our approach to tdentifying and assessing the risks of material misstaternent in respect of irregularities, including fraud and non-compliance with faws and ￿￿lationS, was as follows: - we identified the laws and regulat￿n8 appltable to the Company through dk%cusstons with directors and other management -wefocused on specffic laws and regulations which we considered may have a direct material effe¢t on the financial statements or the operations of the company. - we a8sessed the extent ofcompliance with the lavis and regulations Identified above through making enquirres of management and inspecting legal corresFx)nden¢e.' and - identified laws and regulations were communicated within the audit team regularfy and the team remained alert to instances of non4tmpliance thrcwgh the audit we assessed the sus¢eptibilty of the company's financial statements to fflaterial misststemenL including obtaining an understanding of how fraud mght cccur, by: To addr8SS the rtsk of fraud through management bias and override of controls, we: - performed analytical procedures to identrfy any unusual or unexpected relationshlps,. In response to the risk of irregutarities and non-compliance with laws and regulations, we deswned procedures which included. but were not limtted lo .' - ajreeing finan(aal ststement disclosu￿$ to undertying supporting do(wmentation'. - reading the minute5 of meetings of those charged wtth g0vema￿. There are inherent limitations in our audit pr￿edureS described above. The rrthe removed that laws and regulations a￿ from financial transactions, the less likely it thal we would become aware of nor)- compliance. Aud￿ng standards also limit Ihe audit procedure ￿qUIred to Klentify nonrycompliance with laws and regulations to enquiry of the diwlors and other management and the inspecth)n of regulatory and legal r£Jrrespondence, if any. Material misstatements that arise due to fraud can be harder to detect than those Ihat arise Irom error 8S they may involve deliberate concealment or collusion. A fijrther description of our resp)nsibilities for the audlt of flnancial statements is k)cated in the Financial Reporting Council's website at www.frc.or .ukJauditorsres n5ibilities. This d￿ription fom)s part of our Report of the Independent Auditors. Pap 13 Ch3vityRegNkn*bJft No.. 1159118 Uge ol our rnport This rep)rt is made solely to the charity's trustees. as a lyxly, in accordan* with Part4 ofthe Charits'es (Accounts and Repjts) Regulations 2008. Our audit work has been undertaken $0 thatwe might state to the ¢harty's trustees those matters we are Tequired to state to them in an auditors, report and for no other pur￿Se. To the fullest extent permthd by law. we do not awit or assume responsibility to anyone other than the charty and the ch8rity's trustee5 as a t¥)dy, for our audit work, for this report, or for the opinion we have fom￿￿. Alun Evans {Senior Statutory Auditor) For and on behalf of Flpvan BuckLand LLP sta￿tOry Audltors Chartered Accountants and statut￿ Auditor5 45 High Street Haverfordwest Pembrokeshire SA612BP Page 14 Nv. 1159118 THE DEAMAND CHAPTER OF ST DAVID8 CAThEDRAL CONSOLIDATED sTATEm￿lT OF FINANCIAL AcnviTIE8 FOR ThE YEAR ENDED 31 DECEMBER 2023 2023 Unr••trf¢thd ftmtrfcted fo Fund• Fund• Fund¥ 2022 Tot41 Fund• INCQIIE AND ENDOWMENT8 FROIL. Don8U¢ft8 Lagac 515,443 441,206 . 50.466 49.691 147,379 882.822 441,3e8 65,855 49,691 1.&15,030 1597,se8 46.IS9 15,142 Invethont Ine4w 5.189 row Incorne 1.058.968 152,568 12Cfj,534 2,293,897 EXPENDITURE ON., R*lng 470,108 471.105 821.153 Charilabl• Activit 612.278 310J83 948,808 Totsl Exp¢ndltw• 1,082,364 311J80 1.393.764 1.707.961 Nel befty• gaknJI{l￿￿OI PSA18) 1158,812) (184.2301 SZ5,938 N•1 galatsllkJ8•e¥) in inwlments 13 Vnrndised npt ￿￿?100￿68) on propoty Il•t Incom￿lEm￿nd￿ur0 5.310 8.982 14272 (57,108) (149060) (2Cfj.9581 399.971 Trnn6f•rs bolwn fund Q9.775 29.775 Il•t Fund• 19 883 120.070) 399,971 RECONCIUAnON OF FUNDS Total *jr￿S brought fThBrd A8 pr8vbJU￿Y fo￿rted Prior Frfod ￿luStm￿￿ 678.488 I.448￿C¢s 2,122.973 1,e78,797 19 .488 1A6,505 2,122,973 1,723,[￿2 TOTALFVNDSCINIIED FORWARD 19 Th• nrte• on p•w 18 to 34 fom) part ol th01o&¢counts P¥• 16 ThE OEAN APIU CHAPTEII OF $7 DAMDS ¢AYIIEDILIL CONSOUDATÈD STATEIAÈKfoF FIP4AII¢IAL PQWTION AT31 OE¢EMeEft 1023 Group 2023 Ch•rfty ChÈlty 2023 2022 2Q32 FIXED￿SEr& Tang￿ Fk•d A%4tl• 12 f1447 10ffi4 1,1 13 14 517.684 230,600 512JSY 517.ee4 512,363 267.SW tsI.$00 267IQ) Iv88trnenlPw•rty 761.811 P*J,837 748.185 15 18 ,373 63881 1,071.978 47.824 8T.176 1.487.414 Dob eash * 8ank 327.278 1,044.L111 252,220 1,188.&52 l.f2,414 I￿72.130 I,71￿439 uA8￿mE9. Creditors. d￿¥Attr yw 17 4,Qffj p￿278> 130,4711 (263,e8al Nrr UJRREMY*SSETS 1.1U,404 1.￿.1￿ 1.341.718 1,450.751 TOTAL ASSET¥ LESY CIIRRE147 LIABiufiES 16.016 2.122,973 2,L*g. q.711 6.01 Unr•atrl¢ted Fund8 R•8trithd 19 589A85 676,4e8 763.453 1.328.430 IA48,505 1.326.420 7852&8 1.446.505 TOTALF￿1V3 51thY*rts w*ro approb*l by IhoBo8idofTwshes•A Il¥behoV by. pnd The V•rykneftnd DrSIT Tn•tro P*• f6 11591x1 THE CeAN ANO CHAPTER OF ST DAVID8 CAThEDRAL CONSOLIDATED CASH FLOW STATEMENT FOR TrE YEAR ￿DED 31 DECEMBER 2023 NotsB 31.12.23 31.1Z22 Cash Flowfrcffi Op•rallng A¢tMI Net¢45h (used Inyprovided ty op¢roJNJ (440,943) 7fjB.4eo PUr¢￿$t 0ftan9￿￿ ￿ed ¥¥s•ts Purthase offixed iwestm￿l a880ts Sgla of fix￿ assetlnv88tmont8 {5.085) 180,9911 69,952 7.826 13.785 15,rA7) {55.466) 213.042 14.802 N•tC••h wovWed byUu•gd Inl Inv••llnB a￿mt1 25,507 187.526 Clwip In ca•h and eaah •qulval•nt* in th• y•&r {415.438) Cuh Ind ¢tsh •qultAl•nts at the b¢qlMITVJ ofth•y 1.487,414 .428 Ca•h and calh •gulval•nl# at th• ertd oftsymr P•ae 17 DENX AND CHAPTER OF ST DAMDS ￿TheDRAL IIOTES TO THE CONSOUDATED CASH FLOW 8TATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 31.1123 31.1122 1 RECONCIUATION OF NET 14COINEXPENfATUREI TO NEf CASH FL(WI FROM OPERAfMG ACTIVITIE8 N•t Incune frxlhg roportln9 pe￿d PO8.958) 399.971 7201 12S.96S {204) I14.8￿1) 48.849 118.9141 218￿94 Lo8588IIGom) on in¥esime Int8TèSt r¥dved rAvldeDd5 rgceived Dom8e In Jtock8 DOCr•a￿ ffj d¢bb)rs Irttea8#1{t)eueaBe) li ¢rgdltcKs iA>sge8l1G￿￿8) ¢)n wopety <14,272} (13,785) (6.6491 23,896 1250.850} 37,IXO 2 AMALY818 OF CHANGE8 IN NEf FUNDS Atfj1.01.23 Flryw At31.1123 Ca¥h sl ba￿( 1.487,414 1071978 P•3• 18 ¢hthtReO*￿QTh No.. 1159111 DEAN AND CHAPTER OF ST DAVIDS CATHEDRAL NOTES TO THE FINANCIPL STATEMEIIT8 FOR THE YEAR ENDED 31 DECEPIBER 2W13 1 ACCOUPrnNG POLICIE8 Th• blo%%lng 9th￿Inling Olcles have be•n •PFl￿d o)n8btsnty In doth9 *￿th itrAn8 whtch ¢xMldwe¢l matedal In rdalton to thè chaW$ finand#l Italernent l• ¢fpv•￿rfng th• flMncr•T •tstwnonts The ffftÉnclBI 8tatom8nis of ts chwlty. 18 a wt•e t•r*fft ￿tity undw FRS102. t*v• boBn prnpared In aerAx*anco th lh• ChBrt08 51)RP n￿9rarts may Spoc￿C lo a type of ¥c*Mty1oslrthd) or for the general wnnlng of t￿ calhedrd. Inwme vlq kngacle8 ￿11 b• dèdtwilh on 9 caae by ¢x80 bas18. The Cathedrnl utlb¥es grfl 6¢homg ￿re apFvoprfat ExpFndltu 'abllM•• are rectynlwJ a6 •ynditurn •0 K*)n a8 Ih•r4 IB a *al or c•ntlnth otslgalon (xjmmiiting th• thwitylo that ey4)enditw•.11 is that a tr4nsf•r ofec4Jnomi¢ tenth be wu*ed In 4ettknm￿I and the unl of the ¢t4lgafjon be mea3ured ￿maNY. Expenditure 18 accwnted for on an ba*$ ha bew clgsslft¢d under heading8 Ihat aggr•gate ￿1 co8t ralaled to the Ca￿ry. Wher• rnmot be dirBcty attdbuted to Pa￿.￿1&T headkngs tw have been dloc¥tsd to *trMe¥ ry> a b88[$ wllh th? of Allo￿tIon •pportloTun8nt olcosts Support and gov•manc* costs have been alJoc4tsd to actNtha b8s•d UFon th• •sllfflaiad time d¥￿ted ty SUFWt8taff to the acdvW•s. ThoÈ• arcounts hav• pre• Y￿n9 tha folowlng apportthments: Minl8try Cath&lr418nd Weep T•n¥bl• flxed a￿ets Dep￿ciation L8 ￿ded 01 lh8 folww annuol rate8 in orderto ￿ off ￿ch asg¢t over 18 •8tirnated useful Ufe. om<* and othér w4uiJmwrt Rotsctory •oJ1pm￿t 25%. 20% wnd 10% stralgm Ilne Treasury •￿￿l￿on 20% stralghl llno Book4hop •qulpm8nt 10% slrnighlll l￿A r•thJclng bjlarte Pag• 19 THE t)EAN AMD CHAPTER OF ST DAVID8 CAThEDRAL NOTES TO THE FIIIANCIAL STATEMENTS FOR ThE YEAR ENDED 31 DECÉMBER 2023 ACCOLii¥llNG POUCIES IGonL> Grants Grnrts recd¥abb, in¢lL•Ytiig grnnts fty the purthaee of Ix•J aro rwjn1￿ In fd In thg 8￿m0[rt of FIr￿nd￿l in the ypar In whkb Ilw are f*Wrtbl•. Doferred IncoTh* and paym8nts recelved Ir¥ athanc• 1•pr￿Tht amwts ￿1Val for fithjre pthods are rel&ae•d to th￿rnIng r8gtrJree8 kntho wl(Kl forthich they reeehed. ca￿al wants 4r¥ lrnatad ￿ re$kn(aed fund8 and are ￿leased lo genwal fvnds by equal inslalmanis iffl ltte same basss as Ihe Ilwdatlon tharga applicabh lo the asset ￿¢Thd. Grants wthich ArFJ I￿aVed to fimd ¥J•tyl¢ pwposea are trfraknj aB reslrlGted Incam• h Iho vthkh Ihe Chadty ￿ enbued lo Inmstmanl wopwty at ts r¢￿t val￿h￿. aggreg•te surF4u8 lx d6fjeil t￿￿ng from in matstvalu• as A galn oro Ic*s on Inve8tmthtt propw In the stateM￿t ol FlnAndo1 ACu￿tIes. Awt8 hdd for Inveglment p￿p0￿ ¥41upd attsirvalue Ithelr market value) at tho balance Fheot datg. R•aliwJ gali$ artd10#8•8 on Inv•gbnents are CO￿181*d a$ th• drflerence between $81e8 proceeds olthe8e Inve31mwthand I￿1r rnarw vakn• 8t th• 8tartofthe yèar. orth•tr 8ub8aqu8nt LY)6ts. and gre charged orcrBdlk to the slatement of ffinancral actNili•s In tho poriod of di8posffl1.unre￿lS•d ￿nI and losses r•pre8¢nl th• MO*m￿ In m*kel Val￿* durini th• arKI Bre uedlbj or ctspjed to ts*8lèmant olfin*)cial 4(*¥it*8 tésed on the markBlv8Juè at ts yearend. Stockg Ar• valued at the lo*tr of crJOt aTrJ MI Malts•bla value. after makkng due allow￿¢8 fortholets ¥nd el M￿ng itom$. Taxalio Th8 (*arly l* 8x8mpt from tax OTr b tharttable actiwliè8. Golng eoftetrn The Tw8tse$ c4>rffjlder lh* there are no m*wlal un¢rfaintl06 alJov¢ t￿ Dtan aTrJ Chwer of St DAvid# Cath•dr•f¥ •bl￿ty19 oJnliiu• ab a golng c(¥wn. FurthudetAIIs 8rn pn>vkknJ kn theTru*88 ReporL Op•rAUny ha•88 Renlal8 payablg In ros￿& of owatlng 1048e• where $ub•tsntoty al th• b•nofft• and rfsks o14MWgNp r•rnaln th8 tessor, arg chars8d to th• Slthnerrt of FIn￿l81 AraivilbeB ai in¢wred. Fund accountlng Unmstrtctèd fvnds. arn fur¥JB vAdi u8od vthi Ihe charita￿8 0tr4eGt8 at the daLYdon ofthe TpJ8lee8. D8￿gnated l￿dE - thèÈè fundB arn Sat afldo by th• ot wrnstrfrA•d sp•dfic purFW¢S. Pbose see note 20 ft¥ furttxr detslli of11￿ fund8. fL￿d8-the9¢ ar•fvnds that ean (￿lY bo u8ed for partlcuw r8StrlL*ed purpLw8vAthln the obhcts ollh• arSty. Restr￿￿0￿9 arl6• speafmd by the dDn¢f or vthen lund8 aro r818ed for ￿￿1￿r r8strlGtsd PU￿0$e6. Pkaae s•& nct? 20 tsfvrth8rd•lAits of1￿* *Jnd&. P•n•l¢)n ¢￿ts other ￿t4P11￿1￿ert Th• tr¢rity op8rnt•8 a dolthed contrknulitin ltheffle admn1￿[•j by Th PgcWe8 Penilon. Corrtrtbutsc￿S payable to the ch8rWg pen8i(X) 8r*ame Are •d to the Staiemth of Fknandd the pwlod ¢0 thoy relth. 1109118 THE DEAN AND CHAPTER OF 8T DAMD8 CATHEDRAL MOTe8 TO THE FINANCiAL8TATEhleNT8 FOR ThE IEAR ENDED 31 DECEMBER 2023 2 OONATION8 AND LE&ICIES 2023 321,658 12,802 19.852 21.578 220.813 24,(QO 8.e70 8.025 1,889 17.352 2,172 1.015 182,375 10.359 25,114 1,131.824 228,024 2S297 8.2SO Votr4• C8rKII&• L•gg Frknd8- r8 *7ge$ Frfend8. re CtrbN•l S¢hokrs C•mel8ry Ats￿t Donations Other Don8tkns CgfnogwryrTy'rPererin MIUonlum Appeal DoneNc￿¥ F¢8tJv81 0onattt￿s and SP￿￿r￿1p 18,222 1,245 1.1W 16,869 Gr•Ati re￿I¥•d, Ind￿00 In the abov4 are a8foThrm'. Lloca8an BDard ol Flnon¢e ReprnG•nttiti￿ 80ty ofth• Chur¢* bb Wal68 R•pres•ntthe B(* olthe C￿1th #i Wql88- DoveknkThnl Al Churthe8 TruBI Lknrt•d Chrisuan Arts Tyust Grfjnl Llblod P￿CeS ofworshlp Sthem• Walw Cumurnl Rel￿V￿ry S¢h¢me C8lhodr&l ￿$1¢ Twt Grnnt Art8 Coundl Wal06 Enhandng Pombrpkeshlre FurKI L¢rd Bishop of Sl Da￿d$. Thom#8 B•&ett CofonaMru8 JRS Gran¢ conn4v￿1 support Grant CADW 100.QOO 48.310 53,000 18.O)0 18.0 19,306 15.rAo 18.QCQ 10,OCQ 1e.&50 15,307 26.000 P*Jg 21 R•¥•irnknNx 1169118 Th£ DEIJI AI40 CMAPTER OF 8T OAVIOS CATHEDRAL MOTE8 TO ThE FINANCIAL 8TATalEPU5 Ft)R ThE YEAR ENDED 31 DeCEMBER2023 J OTHER TR￿G INCOME 2023 2Q22 Sh]p Ino)ffje Conwts and Elhi￿.1* Fltrnlng Fee6 TE5ur8, vtsils and Ibrnry Tvr Pworfn Edu¢xth)n ￿tra Rofoctory Inry)me st D8vk18 Cathedr•l Fa815val 339.952 36.673 1.489 23,673 498,407 1,867 10,337 5,510 34,534 ),481 597,586 4 INVESIMENflNCOME 2023 2022 Rent- GDal Stréet 28,120 S￿4 13,785 14.802 08posMacownt knterwl 56,$0 8 RAkSIK FUNP8 2023 R•%ng dontst￿ legadas 20,752 5,483 38,386 3573 . C*nallon rt*rgo5 .PthYTwr 28,23S 41,347 Other trading a￿￿tIeS . Bookthcp Runniwj Cr4ts ond Porfh YTVK . Festivgl aNJ Co￿￿rt ExpeAw 405.07 37,587 628,072 146.889 441863 774.981 2207 3,845 TOTAL COST OF RAISINO FUNDS 47 P•Jo 2Z THE DEAM AND CHAPTER OF ST DAVIDS CATheoRAL NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR EMI)ED 31 DECEMBER 2023 • cHARrrA￿ ACTMTY COSTS SuppDrt c*￿ts (¥M nots n 1•¢9 81 Tot•1 efithe￿ al￿ Prncin￿ upkegp Educaticfi and Outr88th .W 127,8S8 280,488 81.173 49,2B8 23,192 488,61B 1.661 72,480 7 DIRECT COSTS OF CHARITABLE ACTIVrnES (Trggnmt, thokma9ter c*a 2023 2Q22 133,543 20,009 11.385 29.283 122323 8,952 4.SD) 22,483 9.507 661 5,881 5,148 Orgpnlgts Lod3ing8 Stholarn Lod￿ng$. W8y8ide Tr•asury Houje nmnwrg costs t)gan ttsnlng & (Aher oryn expens•¥ Mknistry vMBe• p•rfo(M￿9 rights *Jdoty Slgff eyns8 C￿￿￿ry oxpen8•x 27.881 5.972 247 80,193 1W5 325 14.549 5.092 {S&J} 4,827 3.170 York Project Tuth)r Mu* VeryerB' acoommodgtion Heaong and lighling GBn8ral repalr6, renè￿0[3 & COn￿LI0r3 Blslw8 Pale C41hedTal w8ges Rent. ratss. watsf and inwJrnn Se￿rIY pnd Alamx Flowor8 Clol6tffS wnnlng costs Qulnqwnnlal cost• Libwy Cpsts Capit* prclects Andant •¥J Modgrn Tyr Pererln- Wag8s ¥ntl runn1￿ ￿ta 97 22,184 47.421 16,833 98,345 ?6,755 52210 16.*B ¥Y2.188 43.7B4 32,512 8.158 3.571 35.cfjo 3287 8.613 6,¢J)O 6.437 79.017 14,10 8,039 49.288 50,328 Capltsl F*ol•¢ts Comprfw: South Porc4VNorth c1￿$t￿l E￿7¢￿ to the C8th•dr Thomas Beckett Chupel Ea8t End Par8F•t Wall Ropgh Yefk Re￿1￿1? Orgarflls Lodging¥ Wall 439 1D.300 42.952 17.385 6,￿0 ThE DEAM AND CHAPTER OF 81 DAVID8 CAThEDRAL NOTES TO THE FINANCIAL sfATEMeNTS FOR THE YEAR ENDEO 31 DECEMBER 2Q23 IlanAgement Cov Total Mhl 124,8C* 70,413 218*2 2.7FJ) 1,79) 500 127,558 81,173 23.1 Ed￿allon and Outrofjth Suppjrt costs. IrKfudad In the atoue, 09 fOllu￿.. CAth•dr & Prnclnct Educ•Uon 2023 IAntstry &Outre*¢h Totsl Total SaL9rfes wag•• Recruitnwnt expens¢¥ Staff Tiairrirrfj Tokph pp&s Confarnnce *MI Meoting$ Comwtw Exw)80 Lègal F806 Marketino Sundry •xpen8•8 Bank Ghary89 Pro1￿on￿l Faas Proffees- HR CNsurta HospltalthyEvents DonatKy)¥ mad• Dwd8th)n Bad Debts rneo￿r*l• VAT 78,e42 3.847 1,651 ,172 2,448 1.C61 1.325 4.713 14.338 700 300 379 1.347 143,349 6.99J 130.051 1,350 3,788 13,487 12.473 1.184 1114 6.041 414 1.202 4,144 12.020 4.747 8.75 6,811 4.207 209 1,153 11,$31 11.907 6.105 2.100 197 310 387 111 1,1C 6.105 6.579 4.187 11,982 12.524 & Pf•clnct Educatl¢)n Mlnl•try Upk••p &Outreaeh Totsl 2022 Audllcn Remuneralkn) 9 TRUSTEES RElaUNERATIOII AMD BENEFIT8 23 2022 Twst*s R•m￿er¥I¢m) Th• Aggwatè aM0￿rt01 PBKI lo 8oefd menthr 10 trusteesww¢ frJr ow8es that knLurod duthng the cY(Irwyc0ur￿ oflhe Charty ￿SIneSS f2U22. 81. Pag•24 Nu. 11611119 THE DEAN AND CIIAPTER OF ST OAMDS CATHEDRAL NOTES TO ThE FIIIANCJAL sfATEAEln8 FOR THE YEAR ENDED 310ECEMBER 2023 la STAFF CO8T8 20rJ 2022 Sudd ￿rtty co Pmslon Conthutions 428,8e3 31,fj48 23,355 438,320 30,315 20.479 No •nykty•Bo r•cthd •Molum￿S of£80,(th. Tho averap nuthr0fury1oy￿ durlng th• Y•arra1wlgt￿ ￿ tknl tlm• erwlvaknts Mn18ty u• C8thedr818nd Edueatson Admln*atlon 2023 2tr12 Th& average ￿lln1 Ol￿p￿Yed itaff mwnbern fu the The awrng8 Mrtrrf*Jlunleorn invo￿9￿ rewloty on Chgrlty bwirK88 h 3012tr22 28). 11 IIEf INCOMINO RE80UACES Group 2023 202Z 2023 2022 N8t i¥ stat&l after¢hwgtnW(er&attlW: Audkn8 remuneral Depredatlon Rent• ￿e1Vab S.C*JO 8.050 7201 24,840 1.108 28.120 28.120 6.105 24,840 PAgg2S DEAN AND ¢H*PTER OF 8T DAMDS CATHEDRAL MOTES TO ThE RNANCIAL STATEMEIITS FOR THE YEAR EMDEO 31 DECEMBER 2023 *J 12 TAMGIBLE FIXED ￿SEr8 Offl￿ a IJth•i R•ts¢tory Troa*ury Book¥hop Equlpment EqulpN*nt EqulpThent EqidFThent Group Totsl A6 at 01 Janvary 20rJ Addldon$ (DIsPOsalsl ¥￿,923 123,224 146,583 24. 391.706 Aq at 3108C￿￿2o23 As al 01 Jartu•y 2023 Chwg• 95A18 1.108 123,224 146,563 15,119 380.722 2A02 AS Al 31 D￿ember2023 383. Net BookValu• 81 31 C•¢wnlJeA 2Q22 1,107 9,8ri lo,￿4 AB ￿ 31 De&8mber2L 13.446 13,447 The Tongib￿ FW A88ets recLYded aLK¢¥•, otherthanTr¢k*h¥¥ •W￿nI. afe owned bylhè thaAy paront company. The b¢￿k¥hOp ￿ul￿n￿l Is by tho IradiNJ sub$l¢*ory. 13 FIXED A8seT INV&8TMENTS 2021 MOrkgtva￿ &101 Janw 2023120221 511353 795AeS Add￿"on$ to 1nV8•br￿ts at Di1po￿lS RaAllsed and Unr¢aiW gain81008geB) on kweslrnertts eo.ogl (69,952) 14.272 55,48S (216,Y {122,8111 Math•t¥alue •t31 D•cember 2023120221 17. Ust•d IrNeJtrnerrt•4rn Tha8urad at f*)6tand ¥th•querty atfairvalu& 01 th• ballr￿ Sheet dat¢. These inv•6lThDts ¥r• twre￿Y mwged ty tvJth 8re&th Dowkn & G * fw valuallon attha ènd of eath firThNciAI quarter. THE DeAN AND CFIAPTER OF ST DAMDS CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR The YEAR ENDeD 31 DECEMBER 2023 14 DIVESThIENT PROPERTY Mabknt valu? al 31 December 2023 Rovaluabon dLYkn9 y•8r VArk8t value al 1 J#nuary 2023 C¢•t 267,500 2440 Th• investr)ent propty forms part oflhB unr#trfrt¢d and r•thth fvrKls balonL%. The valuatlon vm Lweted by R K Lu¢a8 and Sons, RICS fvgl•i¢rod v•luer 15 STOCK8 Qroup 2023 ChArfty 2022 2022 Stodti of purchased forr888 18 DEBTOR8 Group Cha 202) 2022 2022 Trade *J¢btor8 3.96S 2,184 1￿88 2,194 81.2 h8r debiorn PrePa￿nI¥ and 8cau•J IrKome Amount¥ du•from trttding 8ubsl(Iwy 2,154 1,8G8 35,000 22.887 263.917 2,194 74.550 171.754 22,e87 17 CREDMRS: •m*xini• falllffj du• T one y•ar Gmup 2D23 2022 2023 X122 Trnd• Credltors 1.21S 7.078 21178 7,373 25.011 4,198 15,C￿0 244,430 18,575 266,137 34A 71 18 ANALY813 OF OROUP NEf A8¥ET8 BEfbyEEN FUNDS Unr••trlctad Rt•lrl¢tsd Totsl le ais•ts Inveslmènls Invesbiwrt Prop?Fty CuwonlAss8ts C¥Jrrenl U8bri￿OI 13.447 345,537 172.127 180,499 50.0)1 81.024 1,107.808 130.922) (3,508) 1&447 517,964 230.5(M) 1,188.632 (34,428) P•J827 N￿ 115911a THE DEAN AND CHAPTER OF ST OAMDS CATHEDRAL NOTES TO THE FiNAHCI*L STAIEM£NTS FOR ThE YEAR ENDED 31 DECEII8ER 1013 Tran•f•r 19 MOVEMENT IN FUNDS. GROUP At¢1.0123 In fund• Al 31.1123 Unrn•trlct•d Fund• GetseTal Fut>l 667,891 153, 132.228} 681.975 D•slgnatsd Fund• Ubrary Fund Flower Fund I￿gan Fund Dr Judith Hilton 84UeSt Deans Dsualw)nary Fur F•stN￿ Fund Deans Canon Waiklli8 Lffja P.OB 2,087 1.B84 (1,3791 1101 1,153 (732) 621 47 1848 676.488 157,10n 129,77S) Re•triGted Fund• Pfo)th and Eq￿￿1￿1 Frlands Stholarshlp Fund Frfend$ Fwd Fr￿TrY8 Funds Tud¢y Church m￿1¢ OrgaAst Fund Ihnnlum Fund Oryan ScholarFund Tlf Pwln FrfwKls Fund Edwatd P•rks Legacy SO,CK11 11.770 3347 50m1 {11,770) r2,087) <7.685) 1.160 47,W7 44.050 172.127 1,154 31,214 0.172 44.146 158.303 13,824 1.164 11201 (8.¢XQ) 31,334 13.1n 1,Cfj4.291 (106.740) Repie8ontsdv? Boty altrw Chwth inwal Calh8dral Chow FLnd Tyr Pererin Camknry FuThJ Chryr Mu510 Fund 14A88 15.OTrJ (28,V•31 1431 IA46OOS (149,8611 29.7r6 1,328,429 TOTAL FUNDS 1.91 015 (IwltyRvJwJ41onP* 115•111 ThE DEAM ANDCH*PTER op sr DAVIDS ￿THE)It￿L NQTES TO ThE FINAMIJAL8TATEMENT8 FOR ThE YEAR ENDED 31 DECEMBER 2023 19 MOVEMENfiN FUNfA- 13ROUP (¢onttnu•dl Unr••trlci•d Fund• I￿ornIng R•¥ource• Galn• Qnd R••ou￿ Exp•nd•d Lo In Fund Gwwal FuThl 1,011.331 {1,033,331) 131,89)) (53.fj901 Dvlgnatsd Fwid¥ Ubrary Fund Flw Fund Oryan F￿d F•￿￿81 Fund 6206 1.BS7 (6x69) <3,744) {383) p,cBn 37,T12 (38,819) ¢732) (1,379> 110) 1,153 Cv Judmh Hstton Bequ Degn8 tlijuthnary (1.379) {101 R••ttht•d FurwJ# I,056,￿ 11,082,364} 131. {57,10n Repr•wtatiye Boty cflh• Chur¢h ￿ Walol Al Chwd*•Tru8t UmStod Frfend¥ Wages Furx Frienth Schdar¥hlp Fund Lord 8i3hop of St Davld8- Ttrts)ma8 Be¢kglt Catha(tral Gho¥ Fund Legacy 71,Lf 19,308 171,CllO) {19.306) P4.Ciio) 120.440> 8.670 (11.770> as,oJo (14.58 (105.740) (29,3311 414 <105,740) f28.9881 Tyr P•r¢wln 2,383 Tvr Pernwi Frf•rwh Fund Cholr Mu8lc Fl¢Jwr• Orgatht Fund MI￿nniUm Fund T￿r Mu8lc Cam￿￿ry Fund Frlends Olher Chthr Mu5 Or9An Scholar Fund Slst•rC¥deroflhg MilWI & Hol￿t￿l￿oI￿r01 SIThorng8 Acon (8,(MJO) {8.0 12,rAn 4,882 1,154 .08n 13,824 1.154 (98} 6213 18,258) .655) (2,7e4) 11201 12,784> {1201 152.58 (311,3811 (149￿51) TOTAL MOVEPAEiif w FUNDS P•gt 74 THE DEAN AND CHAPTEROF ST DAVIDS CATHEDIIAL N¢7f&8 TO THE FINANCIAL STATEMEtrITS FOR THE YEAR ENDED 31 DE¢EMBER 21123 Tran•ler Re•tat•d Mo¥•m•rt l>•tw•oTr At01.0122 in funds fufidl 19 COmPARITp￿ FOR MOVEIIENT IN PUM)6 At 31.1122 UnYeJtrl*d Fund• Grn•l 1.210.96B (534.701) 18.2e61 fj67.891 DMlgnat•d Fund• Library FuTrJ Ixwr Fund gan Fwid orJ￿1th HIM￿ B￿u•ll De8n8 Di8(¥thnary F￿d Festivd Fu￿A D￿n5 Experffje8 Co￿1 Waikim L•w 4.S4S 4.489 IS.823) (2,485) 1.278 2.fAIO 57 53.936 {S1.C (368) (4218) 2.&88 421 1,278.760 {$97252) (5.030) R••trt¢t4d F￿￿¥ Cholr ML*lcFund Propwty and Equipmènt F￿ndS s￿0￿rShIp FuThJ Frbends Fund Fdends Oth￿ Fund8 Tudor Church Organbt Fund K4illonnlum Furk W M Jon•B Fund Organ Scholar FuThJ Tvr Pereiin F￿10 EthArd ￿Ik& Legacy 50.001 22.626 3247 50,001 11.rio 3,247 $5.852 44.146 158.303 110.8551 34.148 2￿,731 3,B5 10,0 (47.4581 P,869) (970) <8,6971 {8.OCrf)I {10.CKKJI 1.084.294 39.931 21,172 10,0 31 J34 1a.172 1.W294 R6pre8enlattve Boty ofth• in W Cath¢dAI Choir Fund Lord Bi8h)p of & Dawds-Thoma8 B8c&•tt Sister Onler of Mlliary& H06pilallw Ordw of StThcTh￿A(xjft 14.$86 14W8 {1.25)> 444252 997223 6,IM 1A46,506 TOTAL FUIIDS f169118 THE IIEAN ANO CHWfER OF ST DAV108 CATHEDRAL NOTE8 TO THE FINANCIAL STATEMENTS FCIR ThE YEAR ENDED J1 DICEMBER 2023 20 PURPOSE OF RE8TRICTED FUND8 Proporty and Eq4lwTrgnt TNS res*v¢ reprnwnts thg ¢Jon*lon from ￿ FrioTh1• of Sl I?￿d8 Cathedral try￿rdS thg pur¢ha6è of Iho Inve8trn•rd proparty In Goal Str•pt th St Da￿d$. Frknd• s¢1￿11T￿lp Fund Thls fund wa5 e*trAlshad in 2017 and rnwesonts assl8tsnc• from the FrSèThY4 of Sl Da￿d5 8nd18 c¥jntr1b￿n towanl& tho co8t oflho c￿ Schoknhtp Nn th• ￿thedral. Frknds Flo*Yr Fufid firnd est4bN8W kn 2017 repr•wrt3 asjlslance ffom th• FFtend$ of St Da¥ld$ Cathgthal and Is 4 cuttrltsjtton toward$ thfr colt ofknTS In Ihe cathedrol. Frt•nd• Oth•r Fund• The FrkndB olst eAlhetkal r•sOlv￿ to ￿t￿bUt* £25.CKIO In 2017, £10.OC#) In 2018 £10,IJ)J in 2019 trM*rd¥ the Calhodral Prol•ct. Thtr balanc• fvnd rgprewt8 thè yet UllSF•m. TudorChur¢h Mu•l¢ Tr16 Teoorve8 rePr•￿ts fundB donllted tth4trdB Ihts perfomwnce ofTudor(lyur¢h mv81¢ •t ¢knrd8tFund Th& Oryani8t FuThl mpr•wits kKomo 9eThJr8ted from reslrlthd knv•stment8. Th1$ fund i• used ID OW8t MEI of the orgaThlsf8 r￿una￿ll9n and rapre8ents the rn8trletad irN•Stsnpnts hokj in lh8 bolan gan S¢1￿14TF￿ftd Thi¥ WB8 88t4bll5h¢d In 2Q18 wfth • danauon knm Fthds gf Cath•drnl and Tuth)r Church mwc and li used furlh• wFport Ollho u9an 8thcl8rnhk attho rathedral. P•r•rtn Frl•nd8 F￿)￿ ThIB regorve represents a donatlon mad? In 2019 by Friend¥ of Sl Da¥Ods Cathedr814nd wo%4d• to lh• St DAwd8 Day Educ•tional Wtyk8hopG and tts 8UPPOrt I￿ ￿rI¢ d Tvr Pwerkn ts th• ne￿ flve >t8r Th18 fijnd wa8 yew to 2022. *F￿ld thal the rnonoy 8hould be u¥od f¢r Ihg f*ric oflh8 C•th9dral txdhJln9. Repruontsth B¢>thJ ofth• Church In Wal•s Thls f4md wa8 awdrtsJ to avilt ￿ dov?Wn￿t ¢0118 ￿1 tthvardj the 501&ry costs of •8nlof PXt3 V*ithin11 chairty. P•a• 31 Ch** N¢r 1118118 The DeAM AND CHAPTER OF ST DAIADS CATHEDRAL NOTE8 TO THE FIIIAI1C￿sTATE￿ENT5 FOR THE YEAR ÉNDED 31 DECEIffjBER 2023 20 Pirn)SE OF RESTRIGTeo FUNDS l¢onL.I Clthedrnl Cholr F￿d Th18fvnd r¥C￿ed ￿ amirtwth the tra¥ol •xpenw8 Otthc¥i$t•r The TnJ8tse• l￿n11d￿r1he lo ￿ a going 22 RELATED PARTY TRAN&4CTIC*48 T￿(01￿MIng tN8t•￿ ar• mtsmbers offvex&L￿￿Carnffl￿aflh6 chgrty Fritr)d8 ofst Da￿d8 C&Th•drnl Tho Very R8vorend Ltrswxh RU￿1&fid Jor The Venerable D P Dgv Conon J L•*18 Tha Venw8ble P Mgthne Canon L L Rithardf4Jn Canon M H Ao%*landg C•non M A R Hi4 Th• ia lh• Chapter. Is a th• twl fm JCP ¥dkJior8 vkni provid• kngal advice to ￿ charfty. Th* arncwntsd l0£6,Q)) In th• yew (2022 £6,1061. Mr M. £24.877 in parfor dutkn• c•rfod ¢opadty 8e a ¥wg8r. D•vie4 1$ of The V•n*thle D P DA¥￿. ArthdoAts)n ¢fCamwlhon6lir• tru8t•• oflhl8 charly. Kts. H. Rlchard6M ewned £844.80 In tho In rnsF4Ct of chjrnl dutt¢g. M¥ Ri&wdgon Is the daughttr of Canon LL Mdmrdson tru¥W 01th18 cthority. lth S. P•afC*, the Dlrnthr of rw¥JN•d lor prowd•d during Ihe Moy 2023 rnu*loebvo1 a￿j m3 •d￿tional lee. L. JOM. Ihe As&6tanl Dlr•ctr* olm￿￿ r8c•wl £483treducahJng1 fo8. P¥a 32 CIJwStyR¥ik4kn 115WI• THE DEAM ANO CHAPTER OF ST DAVID8 CATHEDRAL NOTE8 70 THE FINANCIAL STATEMENTS FOR THE YEAR ENI>ED 31 DECEMBER 2013 23 SLBSIDIARY UNDERTAKING-ST DAMD8 CATHEDRAL BOOK8W LWTED St Da¥td8 Catt￿￿r4 Book8hcp Lxnlled {r¥gl¥lgrfjd In &wland and Wths 4xmp bw 02474487115 a wnpany Ilmltsd by 9uttr8r￿ aTrJ nol h￿n0 a irwr• c*1. Tho Oean and othertruvtee8 ara dJrethr¥ of th• ¢omp•ny whb* Ir4de8 from Pfwnlae8 Ihp Cathedrd preon(* The wofft8 of th• Company are pald lo ihg Dean and Ch*r ur¥J•rthe gW ald 8y8tem. A gift aKI donatlDn ol £NILwa8 made to thè Dean & Chapttrln the y•4r (2022 £NIL). Tlt• Dean & Chapter and Bookshop are rggithred fc¢VAT a• a group and $ubmll o group VAT retum. Th8 8ftK)unts o•Ang from th? 8ubskll8ry to tho p3rwrtcgmpany18 rec**ded in Jrrèni 88sets in the p*•nt c4mpany bI￿ne• BheeL Th• olst David> Cathedral Books￿ Lirnlted have b¢¢n c¢noolldated into th•19 ￿n￿de1 6tat8monl8. A •w￿rnary ofthe r06th ofst Oa¥ids Cathedrnl 8ook6hcp Lintted is uIv8n b¢*)w.' 23 2012 s￿•$ 338,448 420.597 Coat of￿1 1143,908) 1238,3C81 194.840 182.291 (281,1Sg1 1389,7eé) (&3,828) (207,475} ClherOperatlnB Income 1,504 77.810 Prvfitfor ts Ilnanclil y8•r (85.124) (129,ees) ft donthdto Char {LoMyProfit forward Ea1￿c• Sh•et 2023 2022 FW knets Stsd Debtorj Cash It b•nk to E*an & Chapter her uedftors 13,447 53,373 120 27.C67 I283￿1n 13.95n 9.87T 47,824 8.711 25.190 1171,754) (2e,5911 Ratsir￿d Re8wve8 )Ing Conc•m NotsvrthstandTrJ tho deficf( of •so•t8 al th& b81an¢e 6h8atdote, IF•eo Itha￿581 thatenknts hw? been pr•parnd M•tln¢4Mn¢1lExp•ndl￿rnI (897,2521 997,223 399,971 Tran8f•r8 bthen fly i• (5.030) Not M+)wment kn Fu#d• 1• 1.&J2,253 399,971 RECOMCILIATIOM OF FUNDS Total lund8 b￿￿ght f¢rward A8 prevlously r8PNted PTk)r pwbj adju6tm8nt 1,234.545 44,205 1,27& 444252 1M78.797 19 Pap 34 Nth iiMI18 ThE DEAN AND CHAPTER QF 8T OAVID8 CATHEDRAL 140TESTO THe FIIIANCM STATEAIENT8 FQR THE YEAR ENDEO 31 DECEMBER 2023 25 RELATED PARTY 018CLOSURE Thè Charfty 1$ qxempl from dls¢106ing transaL*lonswith h S￿11d10￿•S uThJgr th6 p￿￿On afFR8102. •sthe the Is ICVJ% cthlled ty the Th• fOlkn￿ng pooe6 do not foym ofthe 8tthory￿UThts tArtare Inc1￿led as an akl to InteTpfthffion PHg• 35 THE tEAN AND CIIAPTER OF ST DAMDS CATI*ORAL DETAILED STATEIIEMT OF FINANCIAL AcnvmE8 FOR THE YEAR EMDEQ 31 DECEMBER 2023 IN¢OMEAND ENDOWMEIITS FundB Tot•1 Totsl DonAtlon• and l•g•cie• Colb8dlons GIftAd Vokn Candte8 321.056 12,411 19,852 21,578 115,307 321,858 12.&Y2 19.852 21.678 220,613 24.tsjo 8.670 8,025 1,￿8 17.382 2.172 1,01S 162,375 10,359 25.114 1,131.824 226,024 25297 8250 7,433 Friends- rn w8ge• Frfands. re Ghcttl Sclw)1¥8 Cèmgt¢ry Ac£tyJnt 24.LN)O 8.870 (Xher Dona￿On$ C8lnog%YyTTYT Pe￿rin WknlumP¢p•al Danadons F•5ti¥al DonatloFM arnl Sponsorstrip 17.352 18,222 1.245 1,192 ie.e89 2,172 1,015 5.598 51S,443 147,379 e62.822 1.635.030 sI￿P CtyK¢rts and Ethibthns F¢08 Tourd. vlstts Ilbrary T￿r Ppr8rin Edueallon C Refedery Incomt St 04vl(ls Cthdral Fethal 339,952 35.673 1.489 23,673 339.962 49&407 30.W 1,887 10.337 5,510 34.034 50,481 441.366 441.30S 597.586 Inv•%kn•nt Incom• Rent- Goat strost Rènt. Aerial DiYldeTrJ w*orno Dèposit acawnl intsr¥Jt 28,120 28.120 24.840 0,313 14,802 13,786 7.fj28 327 4109 48.169 Othér In¢om• 49.891 49,891 16.14Z VAT Recowed B￿kAG9)Unt INrodu¢•d 1fi8W8llCg 49,691 49,691 18,142 Totsl Ineomlng Rmourc 1.051,911 182,568 1,209J34 12•3,197 TNS p8g• dom not lomi part ofth• •trtutory •¢c¢wnts P¥J• 30 TME DEAN AND CHAPTER OF ST DAVIDS CATHEDIiAL OETAJLED STATEAIEMT OF FINANCIAL ACTMTIES FOR TIIE YEAR ENDED 310ECEMBeR 2023 EXPENDITURE Urntrld4d R••trl¢ted 2023 Fund• Fund• Tol41 2022 R•l•lng doft*t10￿ •nd1ogacl•• .GDat Strnetpropety costs . Poth YTMT Ew¥e - [lo￿tiOn ¢h8r9e* 20,7Y2 20,752 38.388 5.483 3.483 3,573 2e.235 42.347 rtradlng Acli¥lUeg - Bookshvp &nd P¢)rth y Thr purc*a8es - FeubvaE Eyngei 405.078 37,587 405,076 37.687 828,on 148,889 Inv••th•nt man•g•m•nteosts 4416S3 442.683 7T4,￿1 PortfolK¥ manag•rnenl 1210 Chrll•blo ktlvld•i 111 Mlthty organ￿1. and choir Chor Expenses Corwl EAperw$ LTrgani8ts Ladglngs Scholar8 Lo&Jlnus- Waysld• Troasury runnwlg c08ts Organ tsjnlng & oth•T ¢rgan éxpons8S MLtgt Oèpartrnenl CoBts Inlsty YiariB¥ Perfomiing rvih15 ¥iyety staff 8xponBes Canoryy ey￿￿￿8 re, Werg and cendL•8 York Pr4•ct Veryer8' gc¢¢mmod&tlon Tudor rnuJ* expens•s ee.437 17245 11.385 292e3 525 47,11i3 2.784 133.543 ZO,OJ9 11.385 29.283 8.445 27.881 5,972 247 80,193 1.805 122,tr23 6,9ts2 22,483 9.507 S.881 5.148 78.908 3.211 15601 4,827 3.170 620 1e.755 31 218 53.189 14,549 14.549 5.OV2 15. 22.154 Ill> Cathgdr•l #nd pr•cfnet¥ upk¢•p Heating and ttghlng Genoral repalre. renewa￿ & ¢l￿nITrg B55hops P8lact TrAl8ts Claaning Mat8rfal8 C•Lhedr¥l w89¢8 RenL Tates. 4Vat¢r and In8urarKo Securdy and Aam%8 12.221 8.315 47,421 18,633 98.345 2,068 43,794 32,512 8,158 3,571 52210 8.518 92.089 2,068 30,769 32,512 8,158 1,484 92,188 4,963 77.580 35.050 13.025 Ck)IBterB running o)8t8 QUInquertnk￿ Costs Llbrary Costs ca￿ 3.267 8,513 7,655 14,796 14.109 8.039 (8,787) 6,437 79,017 Th1* ply do•• notform part of the •tatutory #ccounty Pag• 37 Chwi4fR•ithknltr 1159114 THE DEAN AND CHAPTER OF ST DAlthlOS CATTrEORAi DET￿LE0 3TATEMEMT QF F1144NCIAL ACTP4triE8 FOR THE YEAR EIIDED 31 DECEMBER 2023 Unrn•trlthd R￿trIct•d Fund• 2023 Tot41 2022 Tt)lal 011) EthJc&tlon and outr•aBh dent and Modeffl Tvr P￿eth. Wage8 - Y•Ar of pl￿5￿ - Othor ruTr￿ eo8lB 118,8&91 1,10 9,272 67,775 38.907 1,109 9272 135 11,173 443,273 247.463 690,n7 722.3 Go*man¢e Co•t• 050 Slwort C(*ts PAIrn￿M*nl Athlnl8tr4tfw w¥lca8 SaLgrf8s and wag08 ReCrimtm￿t 8xp8nM8 StsIITrgknlTrJ Teléphon¢ pp&s c￿re￿n¢& and FfAe1ina6 Cwnwgr Eyn L￿81 Fees Mark•tlng othr gxpeThll￿r0 Sundry eypan688 Bank Cha Profe8$b)n￿ F••8 Prolfeas- HR c(￿￿￿0￿ FWitlitylEv•nt8 Donat*Jn8 mad8 99,349 6,995 3.OJ2 3,786 13.467 44,￿0 143.349 130,031 4022 3239 12A73 1,184 8,889 13.487 2.381 6,041 6.041 4.144 4144 4.747 2.337 12.020 8,759 $74 (5,0201 18,561 11.531 6.000 883 11.W7 8,105 1,71)) 1.11 1.1( 6.1C15 2.073 11524 Bad Debts Non iecovw8bK* VAT 11,962 11.962 184.CQ3 20 226.923 21¢, Tot41 ft•sourcM Expend•d 1.OB2.384 311R80 1,393,784 1.787, Net (Eypendknt￿n¢aYnt before galn• ar￿ h)5888 (244181 1158,814 1184230) 525,93S R•alhed oeoqnl•ed galm and I*xB•8 R•a1168d Bah￿0￿¥¥08) Dn fi￿d a68et IrNMtsn•nl Unrealised loss in fnve8fvnl property Tron8ferB fLnd1 5.310 (37.OlJ)I 14m 137,1)JO) (125.9651 NeT INCOME 149.J5Q 399.9 Thli ppg• notlorni P￿01￿* •l#tutory acoount•