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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 1159494

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

The Dean & Chapter of S A Cathedral Grp

Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 0RN

The Dean & Chapter of S A Cathedral Grp

Contents of the Financial Statements for the year ended 31 December 2022

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 19
Detailed Statement of Financial Activities 20 to 21

The Dean & Chapter of S A Cathedral Grp

Report of the Trustees for the year ended 31 December 2022

The trustees present their annual report and financial statements for the year ended 31 December 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016)

OBJECTIVES AND ACTIVITIES

Objectives and aims

To maintain and look after the historic building of St Asaph Cathedral.

To advance the Christian religion of the Church of Wales for the public benefit.

In particular to promote the mission of the Church of Wales and through the Cathedral by promoting the statement of faith more particularly described in:

The Constitution of the Church of Wales The Royal Charter 1919 The Welsh Church Act 1914

The Welsh Church (Temporalities) Act 1991

Notably the provision of regular public worship; the provision of sacred spaces for personal prayer and contemplation; pastoral work, including visiting the sick and the bereaved; teaching of Christianity through sermons and small groups; taking of Assemblies in local Schools and holding regular local school services.

Also the promotion of Christianity through staging of events and services, and the distribution of literature and promoting the whole mission of the Church of Wales in aiding community cohesion through provision of activities for older people, mothers and toddlers and other specific groups.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Description of funds

Maintenance of Fabric of Buildings

This fund was set up to maintain the Fabric of the Cathedral Buildings. All of the assets within this fund are held within investments and therefore are not freely available. All expenditure in regard to the maintenance of the Cathedral will therefore be expensed through the general reserve until such time as there are liquid funds available within this restricted fund.

The Dean's Library

The Dean Williams Library property in St Asaph is vested in the St Asaphn Diocesan Board of Finance as custodian trustees for the Dean and Chapter and is to be used only for specific, prescribed purposes.

Choir

This fund was established via a legacy specified for the use of the cathedral's choir.

Church Renovations

This fund relates to the renovation, upgrade and repair of the St Asaph parish church building.

Page 1

The Dean & Chapter of S A Cathedral Grp

Report of the Trustees for the year ended 31 December 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Nearly half of this year's budget has been spent on the upkeep of the cathedral building, including day to day running costs and the installation of a new sound system to improve accessibility for visitors, and improve the quality of the sound for hirers of the building (such as concerts). The rest has been split fairly evenly between staff costs, parish share and music.

The cathedral has been open daily to visitors, and visitor numbers have increased since before the pandemic. Services continue to be live broadcast online weekly, as some congregation members have been unable to return to worship in person, and we have also gathered a number of viewers from further afield.

The provision of music in the cathedral has continued throughout 2022, with a new junior choir, and more choristers singing in services.

Members of the Cathedral Choir are given a small honorarium. There is also an adult choir, and a voluntary mixed choir. The running costs of the Song School also relate to the provision of music.

The cathedral has two clerics on the staff who work on a part time basis, they have the responsibility for services in the cathedral and the pastoral care of the people who attend.

The administration of the cathedral is usually carried out by the Business and Administration Officer and The Admin Assistant. Administration for services is carried out by the Canon Precentor.

The general work of cleaning and setting up and clearing for events and services in and outside the cathedral is the responsibility of the cathedral caretaker who is employed on a part time basis.

The maintenance and repair of the cathedral fabric is overseen by an appointed Architect who in turn directs the work of specialist contractors. The building and its content are carefully monitored and heated in a way that ensures the condition of the building does not deteriorate and the people who make use of the cathedral for services and events are comfortable. Maintenance and repair of the cathedral organ is carried out by a specialist organ builder.

Diocesan services and events are usually held in the cathedral its role as the Mother Church of the Diocese. The Diocese makes a grant payment to the cathedral to contribute towards the running cost.

The cathedral is made available to charitable organisations and community groups at a reduced rate for events, and 2022 has seen an increase in the number of concerts taking place in person again after lockdown.

The cathedral is made available for local schools free of charge, and this year end of year, Harvest and Christmas services once again took place in person in the cathedral.

The cathedral usually provides an education programme for visiting schools to fit with the expectations of the National Curriculum. Schools have understandably been reticent about visiting in person, but our Activities Coordinator has been investing in educational materials and online resources for the future. She has delivered 30 free virtual workshops to schools relating to the heritage of the Cathedral.

The cathedral hosts heritage events for all ages during the course of the year which are advertised and provided free of charge thanks to the National Lottery Heritage Fund.

The cathedral was fortunate to be awarded a further emergency grant from the Wales Cultural Recovery Fund at the start of 2022 to cover essential costs relating to the upkeep of the heritage of the building. Subsequent costs have been covered by visitors and concerts returning to the cathedral and the donations associated with this.

Page 2

The Dean & Chapter of S A Cathedral Grp

Report of the Trustees for the year ended 31 December 2022

FINANCIAL REVIEW

Financial review

The trustees will continue to ensure that financial resources are managed wisely in the best interests of the Cathedral and to enable the financing of the ministry structures and buildings that support the mission of the Cathedral.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The money held in reserve by the Cathedral is for use as stated above. The trustees take the responsibility for the reserves seriously and use the following guidelines:

The reserves are not to be used for day to day expenses. The Cathedral is to meet running costs without using reserves.

The reserves can be used for projects that increase the income or reduce the expenditure of the Cathedral, in line with the restrictions above.

The reserves can be used for mission projects that further the outreach of the Cathedral, in line with the restrictions above.

Property that is held in trust for the cathedral is rented at a commercial rate on the open market when not being used for cathedral purposes.

Investments are managed by Rathbones Investment Management Limited and Ecclesiastical Investment Managers Limited and the Trustees decide the level of investment to be held for each fund.

The amounts held by Rathbones Investment managers have been allocated to use for the New Development Project at St Asaph Cathedral.

The amounts held by the Representative Body are restricted for the maintenance and restoration of the fabric of St Asaph Cathedral. The amounts held by Edentree (formerly Ecclesiastical Investment Management Ltd) are restricted for the use of St Asaph Cathedral choir.

The trustees have examined the major strategic, business and operational risks which the charity may face and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

o Effective management of operations by balancing income and expenditure.

o Prudent financial management and protection of reserves to ensure the financial security of St Asaph Cathedral.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Recruitment and appointment of new trustees

Trustees are independently nominated and appointed by the Bishop of St Asaph.

Ongoing governance training is offered to all trustees of St Asaph Cathedral.

Organisational structure

All matters relating to the day to day administration of Cathedral affairs are handled by the Dean with the assistance of the Cathedral Administration Team.

As per the Diocesan decree dated 15 December 2020, the Mission Area of Elwy committee is a subcommittee of the Dean and Chapter Mission Area Conference.

The charity is governed by the trustees who pass the day to day administration to the Cathedral Administrator and Chapter Clerk, Mrs Jackie Feak.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1159494

Principal address

Cathedral Office High Street St Asaph Denbighshire

Page 3

The Dean & Chapter of S A Cathedral Grp

Report of the Trustees for the year ended 31 December 2022

Trustees

The Very Rev N H Williams The Rev P Powell The Rev J Matthias The Rev J Hughes D McCarthy (appointed 15/5/22) J Liston (appointed 15/5/22) E W Hughes (appointed 15/5/22) K A Dixon (appointed 15/5/22) The Rev A S Jones (appointed 15/5/22) The Rev M Balkwill (resigned 15/5/22) The Rev M Batchelor (resigned 15/5/22) The Ven A Grimwood (resigned 15/5/22) The Rev S Huyton (resigned 15/5/22) The Rev N Morris (resigned 15/5/22) The Ven B Wilson (resigned 15/5/22)

Independent Examiner

Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 0RN

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ The Very Rev N H Williams - Trustee

Page 4

Independent Examiner's Report to the Trustees of The Dean & Chapter of S A Cathedral Grp

Independent examiner's report to the trustees of The Dean & Chapter of S A Cathedral Grp

I report to the charity trustees on my examination of the accounts of The Dean & Chapter of S A Cathedral Grp (the Trust) for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Aled Roberts BA (Hons) FCA

Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 0RN

Date: .............................................

Page 5

The Dean & Chapter of S A Cathedral Grp

Statement of Financial Activities for the year ended 31 December 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Core Activities
Other trading activities
3
Investment income
4
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Core Activities
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
308,609
53,327
115,173
1,688
478,797
88,400
407,710
496,110
(4,822)
(22,135)
1,116,086
1,093,951		 Restricted
funds
£
-
-
-
-
-
-
2,662
2,662
(24,085)
(26,747)
454,182
427,435		 2022
Total
funds
£
308,609
53,327
115,173
1,688
478,797
88,400
410,372
498,772
(28,907)
(48,882)
1,570,268
1,521,386		 2021
Total
funds
as restated
£
455,127
12,041
58,061
1,869
527,098
50,177
319,994
370,171
131,866
288,793
1,281,475
1,570,268

The notes form part of these financial statements

Page 6

The Dean & Chapter of S A Cathedral Grp

Balance Sheet 31 December 2022

Notes
FIXED ASSETS
Tangible assets
14
Investments
Investments
15
Investment property
16
CURRENT ASSETS
Stocks
17
Debtors
18
Investments
19
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
21
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
18,406
49,163
678,000
745,569
4,630
40,201
20,000
342,589
407,420
(59,038)
348,382
1,093,951
1,093,951		 Restricted
funds
£
-
202,892
107,350
310,242
-
-
-
117,193
117,193
-
117,193
427,435
427,435		 2022
Total
funds
£
18,406
252,055
785,350
1,055,811
4,630
40,201
20,000
459,782
524,613
(59,038)
465,575
1,521,386
1,521,386
1,093,951
427,435
1,521,386		 2021
Total
funds
as restated
£
22,764
280,697
785,350
1,088,811
3,986
24,522
20,000
468,537
517,045
(35,588)
481,457
1,570,268
1,570,268
1,116,086
454,182
1,570,268

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. The Very Rev N H Williams - Trustee

The notes form part of these financial statements

Page 7

The Dean & Chapter of S A Cathedral Grp

Cash Flow Statement for the year ended 31 December 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2022
2021
as restated
£
£
(9,831)
65,326
(9,831)
65,326
(612)
(19,963)
-
(5,053)
-
2,173
498
796
1,190
1,073
1,076
(20,974)
(8,755)
44,352
468,537
424,185
459,782
468,537

The notes form part of these financial statements

Page 8

The Dean & Chapter of S A Cathedral Grp

Notes to the Cash Flow Statement for the year ended 31 December 2022

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
Net (expenditure)/income for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Losses/(gain) on investments
Interest received
Dividends received
Increase in stocks
Increase in debtors
Increase/(decrease) in creditors
Net cash (used in)/provided by operations		 2022
2021
as restated
£
£
(48,882)
288,793
4,970
1,385
28,642
(134,954)
(498)
(796)
(1,190)
(1,073)
(644)
(3,986)
(15,679)
(16,740)
23,450
(67,303)
(9,831)
65,326
65,326

2.

ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/22 Cash flow At 31/12/22
£ £ £
Net cash
Cash at bank and in hand 468,537 (8,755) 459,782
468,537 (8,755) 459,782
Liquid resources
Deposits included in cash - - -
Current asset investments 20,000 - 20,000
20,000 - 20,000
Total 488,537 (8,755) 479,782

The notes form part of these financial statements

Page 9

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements for the year ended 31 December 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment - Over 10 years Fixtures and fittings - Over 5 years Computers - Over 5 years

Investment property

Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date. Changes in fair value are recgonised in the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Page 10

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

1. ACCOUNTING POLICIES - continued

Financial instruments

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there in an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market value of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

2. DONATIONS AND LEGACIES

Gifts
Donations
Legacies
Grants		 2022
2021
as restated
£
£
(1)
-
89,340
70,975
25,041
82,173
194,229
301,979
308,609
455,127

Grants received, included in the above, are as follows:

DCMS
The National Church
St Asaph Diocesan Board of Finance
All Churches Trust
Listed Place of Worship Scheme
RBCW
Coronavirus Job Retention Scheme
HLF Emergency Fund NHLF
Welsh Cultural Recovery Fund
Miscellaneous		 2022
2021
as restated
£
£
-
10,040
-
2,650
77,568
79,754
11,031
11,031
881
622
53,000
30,000
-
4,574
-
16,599
-
99,497
51,749
47,212
194,229
301,979

Page 11

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

3.
OTHER TRADING ACTIVITIES
Shop income
Rental income
Room hire
Ceremonies
4.
INVESTMENT INCOME
Income received from listed investments
Deposit account interest
Interest receivable - trading
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Other income
Core Activities
6.
RAISING FUNDS
Raising donations and legacies
Goods for resale & shop costs
Shop wages costs
Shop admin costs
7.
CHARITABLE ACTIVITIES COSTS
Core Activities
8.
GRANTS PAYABLE
Core Activities		 Direct
Costs
£
407,852		 2022
2021
as restated
£
£
72,853
42,388
31,803
14,600
2,562
440
7,955
633
115,173
58,061
2022
2021
as restated
£
£
1,190
1,073
274
4
224
792
1,688
1,869
2022
2021
as restated
£
£
53,327
12,041
2022
2021
as restated
£
£
20,945
11,898
54,580
30,792
12,875
7,487
88,400
50,177
Support
costs (see
note 9)
Totals
£
£
2,520
410,372
2022
2021
as restated
£
£
-
10,406

Page 12

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

9. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
Core Activities 2,520

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

11. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Administration
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
402,337
Charitable activities
Core Activities
12,041
Other trading activities
58,061
Investment income
1,869
Total
474,308
EXPENDITURE ON
Raising funds
50,177
Charitable activities
Core Activities
311,337
Total
361,514
Net gains on investments
97,699
NET INCOME
210,493
Transfers between funds
68,661		 2022
2021
as restated
£
£
85,016
83,907
5,770
5,232
90,786
89,139
2022
2021
as restated
9
8
Restricted
Total
funds
funds
as restated
£
£
52,790
455,127
-
12,041
-
58,061
-
1,869
52,790
527,098
-
50,177
8,657
319,994
8,657
370,171
34,167
131,866
78,300
288,793
(68,661)
-		 2022
2021
as restated
£
£
85,016
83,907
5,770
5,232
90,786
89,139
2022
2021
as restated
9
8
Restricted
Total
funds
funds
as restated
£
£
52,790
455,127
-
12,041
-
58,061
-
1,869
52,790
527,098
-
50,177
8,657
319,994
8,657
370,171
34,167
131,866
78,300
288,793
(68,661)
-
527,098
50,177
319,994
370,171
131,866
288,793
-

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Page 13

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
279,154
836,932
1,116,086		 Restricted
funds
£
9,639
444,543
454,182		 Total
funds
as restated
£
288,793
1,281,475
1,570,268

13. PRIOR YEAR ADJUSTMENT

The trading results of the wholly owned subsidiary, the Translators' Tearoom Limited, previously omitted from last years figures have now been included in the comparative figures as follows:

31 Dec 2021
as previously
restated		 adjustment as restated
£ £ £
Changes to the Balance Sheet
Fixed assets
Tangible assets 17,673 5,091 22,764
Investments 280,797 (100) 280,697
Investment property 785,350 - 785,350
Current assets
Stock - 3,986 3,986
Debtors due within one year 18,805 5,716 24,521
Investments 20,000 - 20,000
Bank account 458,836 9,701 468,537
Creditors due within one year
Creditors due within one year (19,993) (15,594) (35,587)
Net assets 1,561,468 8,800 1,570,268
Total equity 1,561,468 (8,800) 1,570,268
31 Dec 2021
viously restated adjustment as restated
£ £ £
Changes to the Profit & Loss Account
Income and Endowments from
Donations and legacies 407,915 47,212 455,127
Charitable activities 13,114 (1,073) 12,041
Investment income 1,869 - 1,861
Other trading activities 14,600 43,461 58,061
437,498 89,600 527,098
Expenditure on
Raising funds - (50,177) (50,177)
Charitable activities
Core activities (319,994) - (319,994)
Net gain/(losses) on investments 131,866 - 131,866
Net income/(expenditure) 249,370 39,423 288,793

Page 14

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

13. PRIOR YEAR ADJUSTMENT - continued

Total funds brought forward 1,312,099 1,312,099 (30,624) (30,624) 1,281,475
Total funds carried forward 1,561,468 8,800 1,570,628
14. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 January 2022 17,195 6,300 9,445 32,940
Additions 612 - - 612
At 31 December 2022 17,807 6,300 9,445 33,552
DEPRECIATION
At 1 January 2022 9,157 210 809 10,176
Charge for year 1,821 1,260 1,889 4,970
At 31 December 2022 10,978 1,470 2,698 15,146
NET BOOK VALUE
At 31 December 2022 6,829 4,830 6,747 18,406
At 31 December 2021 8,038 6,090 8,636 22,764
15. FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 January 2022 280,697
Unrealised Investment Loss (28,642)
At 31 December 2022 252,055
NET BOOK VALUE
At 31 December 2022 252,055
At 31 December 2021 280,697
There were no investment assets outside the UK.
Cost or valuation at 31 December 2022 is represented by:
Listed
investments
£
Valuation in 2022 (28,642)
Cost 280,697
252,055

Page 15

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

16. INVESTMENT PROPERTY
£
FAIR VALUE
At 1 January 2022
and 31 December 2022 785,350
NET BOOK VALUE
At 31 December 2022 785,350
At 31 December 2021 785,350
17. STOCKS
2022 2021
as restated
£ £
Stocks 4,630 3,986
18. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
as restated
£ £
Trade debtors 3,910 3,120
Other debtors 34,546 19,887
Prepayments and accrued income 1,745 1,515
40,201 24,522
19. CURRENT ASSET INVESTMENTS
2022 2021
as restated
£ £
Unlisted investments 20,000 20,000
20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
as restated
£ £
Trade creditors 35,013 10,778
Other creditors 24,025 24,810
59,038 35,588
21. MOVEMENT IN FUNDS
Net
movement At
At 1/1/22 in funds 31/12/22
£ £ £
Unrestricted funds
General fund 1,116,086 (22,135) 1,093,951
Restricted funds
Maintenance & Fabric of Buildings 302,366 (24,085) 278,281
The Dean's Library 107,350 - 107,350
Choir 40,000 - 40,000
Project 4,466 (2,662) 1,804
454,182 (26,747) 427,435
TOTAL FUNDS 1,570,268 (48,882) 1,521,386

Page 16

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

21. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
478,797
(496,110)
Restricted funds
Maintenance & Fabric of Buildings
-
-
Project
-
(2,662)
-
(2,662)
TOTAL FUNDS
478,797
(498,772)
Comparatives for movement in funds
Net
movement
At 1/1/21
in funds
£
£
Unrestricted funds
General fund
836,932
210,493
Restricted funds
New Development
68,661
-
Maintenance & Fabric of Buildings
280,549
21,817
The Dean's Library
95,000
12,350
Choir
-
40,000
Project
333
4,133
444,543
78,300
TOTAL FUNDS
1,281,475
288,793
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
474,308
(361,514)
Restricted funds
Maintenance & Fabric of Buildings
-
-
The Dean's Library
-
-
Choir
40,000
-
Project
12,790
(8,657)
52,790
(8,657)
TOTAL FUNDS
527,098
(370,171)		 Gains and
losses
£
(4,822)
(24,085)
-
(24,085)
(28,907)
Transfers
between
funds
£
68,661
(68,661)
-
-
-
-
(68,661)
-
Gains and
losses
£
97,699
21,817
12,350
-
-
34,167
131,866		 Movement
in funds
£
(22,135)
(24,085)
(2,662)
(26,747)
(48,882)
At
31/12/21
£
1,116,086
-
302,366
107,350
40,000
4,466
454,182
1,570,268
Movement
in funds
£
210,493
21,817
12,350
40,000
4,133
78,300
288,793

Page 17

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

21. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
New Development
Maintenance & Fabric of Buildings
The Dean's Library
Choir
Project
TOTAL FUNDS		 At 1/1/21
£
836,932
68,661
280,549
95,000
-
333
444,543
1,281,475		 Net
movement
in funds
£
188,358
-
(2,268)
12,350
40,000
1,471
51,553
239,911		 Transfers
between
funds
£
68,661
(68,661)
-
-
-
-
(68,661)
-		 At
31/12/22
£
1,093,951
-
278,281
107,350
40,000
1,804
427,435
1,521,386

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 953,105 (857,624) 92,877 188,358
Restricted funds
Maintenance & Fabric of Buildings - - (2,268) (2,268)
The Dean's Library - - 12,350 12,350
Choir 40,000 - - 40,000
Project 12,790 (11,319) - 1,471
52,790 (11,319) 10,082 51,553
TOTAL FUNDS 1,005,895 (868,943) 102,959 239,911

22. RELATED PARTY DISCLOSURES

Key management personnel are not employed by the Dean & Chapter of St Asaph Cathedral and therefore do not receive any remuneration from this organisation.

23. FINANCIAL PERFORMANCE OF THE DEAN & CHAPTER OF ST ASAPH CATHEDRAL

The consolidated Statement of Financial Activities includes the results of The Dean & Chapter of St Asaph Cathedral and its wholly owned subsidiary Translators' Tearoom Limited and the St Asaph Parish Church.

The summary financial performance of The Dean & Chapter of St Asaph Cathedral alone is:

2022 2021
£ £
Donations and legacies 74,398 115,080
Other trading activities 31,803 14,600
Investment income 1,190 1,073
Grants 188,175 242,077
Other income 53,601 12,045
349,166 384,875
Expenditure on charitable activities (118,176) (76,645)
Support costs (233,067) (198,096)

Page 18

continued...

The Dean & Chapter of S A Cathedral Grp

Notes to the Financial Statements - continued for the year ended 31 December 2022

23. FINANCIAL PERFORMANCE OF THE DEAN & CHAPTER OF ST ASAPH CATHEDRAL - continued

Net incoming resources - (deficit)/surplus (2,077) 110,134

24. FINANCIAL PERFORMANCE OF ST ASAPH PARISH CHURCH

Included in the Statement of Financial Activities is the trading results of the St Asaph Parish Church.

The trading results of the St Asaph Parish Church alone is:

2022 2021
£ £
Donations and legacies 39,984 38,068
Other trading activities 10,517 1,073
Investment income 224 792
Grants 4,054 12,690
54,778 52,623
Expenditure on charitable activities (20,658) (15,011)
Support costs (38,471) (30,242)
Net incoming resources - (deficit)/surplus (4,352) 7,370

25. FINANCIAL PERFORMANCE OF THE TRANSLATORS' TEAROOM LIMITED

The Dean & Chapter of St Asaph Cathedral owns the entire share capital of the Translators' Tearoom Limited (company no.11254656), which operates as a tearoom adjacent to the cathedral.

The trading results of the Translators' Tearoom Limited alone is:

The trading results of the Translators' Tearoom Limited alone is:
2022 2021
£ £
Income 74,853 89,600
Goods for resale (20,945) (11,898)
Support costs (46,607) (30,792)
Admin costs (12,875) (7,487)
Net (deficit)/surplus (5,574) 39,423
Amount donated to The Dean & Chapter of St Asaph Cathedral (7,973) -
(Loss)/profit in subsidiary (13,547) 39,423
The assets and liabilities of the subsidiary were:
Fixed assets 4,572 5,091
Current assets 12,360 19,403
Current liabilities (21,580) (15,595)
Total net (liabilities)/assets (4,648) 8,899
Aggregate share capital and reserves (4,648) 8,899

Page 19

The Dean & Chapter of S A Cathedral Grp

Detailed Statement of Financial Activities for the year ended 31 December 2022

INCOME AND ENDOWMENTS
Donations and legacies
Gifts
Donations
Legacies
Grants
Other trading activities
Shop income
Rental income
Room hire
Ceremonies
Investment income
Income received from listed investments
Deposit account interest
Interest receivable - trading
Charitable activities
Other income
Total incoming resources
EXPENDITURE
Raising donations and legacies
Goods for resale & shop costs
Shop wages costs
Shop admin costs
Charitable activities
Wages
Pensions
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Parish share
Chaplains expenses
Deans Library running costs
Music costs
Choir expenses
Song school expenses
Car park management
Office expenses
Carried forward		 2022
2021
as restated
£
£
(1)
-
89,340
70,975
25,041
82,173
194,229
301,979
308,609
455,127
72,853
42,388
31,803
14,600
2,562
440
7,955
633
115,173
58,061
1,190
1,073
274
4
224
792
1,688
1,869
53,327
12,041
478,797
527,098
20,945
11,898
54,580
30,792
12,875
7,487
88,400
50,177
85,016
83,907
5,770
5,232
1,469
2,047
18,519
18,017
65,479
31,646
1,241
1,049
91
116
-
499
87,595
71,513
459
422
3,283
2,505
9,973
1,924
6,894
11,330
5,450
4,011
5,567
606
4,725
1,532
301,531
236,356		 2022
2021
as restated
£
£
(1)
-
89,340
70,975
25,041
82,173
194,229
301,979
308,609
455,127
72,853
42,388
31,803
14,600
2,562
440
7,955
633
115,173
58,061
1,190
1,073
274
4
224
792
1,688
1,869
53,327
12,041
478,797
527,098
20,945
11,898
54,580
30,792
12,875
7,487
88,400
50,177
85,016
83,907
5,770
5,232
1,469
2,047
18,519
18,017
65,479
31,646
1,241
1,049
91
116
-
499
87,595
71,513
459
422
3,283
2,505
9,973
1,924
6,894
11,330
5,450
4,011
5,567
606
4,725
1,532
301,531
236,356
455,127
42,388
14,600
440
633
58,061
1,073
4
792
1,869
12,041
527,098
11,898
30,792
7,487
50,177
83,907
5,232
2,047
18,017
31,646
1,049
116
499
71,513
422
2,505
1,924
11,330
4,011
606
1,532
236,356

This page does not form part of the statutory financial statements

Page 20

The Dean & Chapter of S A Cathedral Grp

Detailed Statement of Financial Activities for the year ended 31 December 2022

Detailed Statement of Financial Activities
for the year ended 31 December 2022
Charitable activities
Brought forward
Computer expenses
Gifts and donations
Books, candles etc
Flowers
Catering and refreshments
Legal and professional fees
Conferences
Repairs and renewals
Bank charges
Subscriptions
Miscellaneous expenses
Ministers fees
Depreciation of tangible fixed assets
Grant funding
Support costs
Governance costs
Auditors' remuneration
Total resources expended
Net (expenditure)/income		 2022
2021
as restated
£
£
301,531
236,356
1,187
1,196
-
300
2,985
1,923
112
51
915
459
2,940
12,698
469
1,188
90,905
42,325
283
232
471
305
2,215
7,740
-
909
3,839
1,386
-
10,406
407,852
317,474
2,520
2,520
498,772
370,171
(19,975)
156,927
317,474
2,520
370,171
156,927

This page does not form part of the statutory financial statements

Page 21