**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
3. 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