2021-03-31-accounts

haritable Incorporated Organl$ation No: 1177272 Report of the Trustees and Flnanclal Statements for the Year Ended 31 March 2021 for Archdiocese of Cardiff

Archdiocese of Cardiff onlenls of the Financial Statements for the Year Ended 31 March 2021 Page Reference and Administratlve Details Report of the Trustees statement of Truste85' Responslbllltles Report of the Independent Auditors 10 to 11 Statement of Financial Activities 12 Statement of Flnanclal A¢tlvltles 13 Statement of Flnan¢lal Position 13 Staternent of Cash Flows 14 Notes to the Statement of Cash Flow$ 15 Notes to the Financial Statements 16 tD 26

Archdlocese of Cardiff Reference and Administrative Details for the Year Ended 31 March 2021 Trustees M J Prior BA Solicitor BA Solicitor Archbishop George Slack Very Reverend J B03rdman Mr J A Trloniazzi FCA Canon P Collins Anne Curran Rev Dr Philip Mawh8n Dr Nofa Killeen S8t)lor Managemont Directorof SGhoo15 and Colleges Mr5 A Roberslone BA DireclorofReligious Education Isthoolsl Rev B Sixlus ProjeG15 Manager Mr C R. Jones BA Arch Tre3surer Mr D Evan$ FCCA DChA MinslLM Development Manager Dr O Colllns Safeguarding Coordinator Mr C Mullane Registered office 41143 Cathedral Road CARDIFF South Wales CF11 9HD Regl$tered charlty numtr*r 1177272 (Engla￿ and Wales) 5olleltors Sellords Solicitors Jenner House ta Jenner Road Guildlord Surrey GU1 3PH Invostment adv5s&rts Brewn Dolphin 9 Colmore Row Birmingham B3 2BJ Bankers Barcl4ys Bank PLC 1-5 St D£vid'sW8y Sl David's Cenlre Cardift CF10 2DP Ad¥l8or8 Haines Walls W81es LLP Chartered A¢ttounlanls 7 Neptune Court Vanguard Way Cardiff CF24 SPJ

Archdi(&cese of Cardrff Report ol the Tru$tee$ for the Year Ended 31 March 2021 The trustees present their report with the financial 51alernenls of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Slalemenl of Re¢ommended Pr8¢1i applicable lo charities preparing their a¢counls in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. Objective8 and activltie$ The principal objects of the chanty are the preservation and adVan￿ment ol the Roman Catholic faith, and the provision ol primary and secondary education The church seek5 to achieve the fir51 of these by the following means.. To proclaim the gospel To worship Go To form and develop parish comrnunitie5 TD offer service lo the wider community and seeks to provide primary and seconclary eclucation by". the provision of ¢atholic schools in Co-operation wth local aulhorilie5 rnanaging these $¢hools through the appointment of a majority of foundation governors on the 9overning bodies. ensuring a sound Roman Catholic elho$ is maintained in these schools The trustees, 5UPPOrted by the boards and consullalive bodies, ¢ontinually review the aims. objectives 8nd activitie5 to ensure they support the principle objectives of the ch8rily The success of each key aclivily is monitored to ensure they remain focused on these principle objectives The trustees have referred to the guidance contained in the Charity Cowmis510n's general guidance on public benefit when reviewing the aims and obieclives and in planning future activities. thus ensuring that the Charity continues In its stated purpose Page 2

Archdiocese of Cardiff Report of the Trustees for the Year Ended 31 March 2021 Achievements and Perfomiance Speaking at a banquet in London's Mansion House rnarking the 40th anniversary of her accession to the throne, Queen Elizabelh 11 said 't992 is not a year on which I shall look back with und11￿ted pleasure" In the words of one of tny more sympalhelic correspondents, It has turned out to be an'Annus Horribilis. a terrible year. We might well echo those words when reflecting on the year 2020, a year in which the r￿ular pattern of life in society al large and in the Church a150 has en disrupted in ways not eKperientsd since the Second World War. The Trusteès of the Archdiocese of Cardiff have taken seriously the many challenges 2nd opportunities p￿sented by the Coronavirus pandemic The regular patterns of gathering and worship, social contact and outreach lo others have been disrupted in common with every other inslilution in the Country. Despite the early lockdown of chur¢hes. a number of parishes in the diocese have invested in "Live Streaming equipment 50 that the celebration of mass and other services rnight be br08dcast daily. albeit to empty churches. The eventua￿ opening of churches foi private prayer dem8nded an immense amount of work, not merely In the expenditure relaliro lo PPE equipment but in the reuuitmenl of significant numbers of volunteers lo ensure Social distancing, guidance, eaning, contract trac1￿ and providing genera1 assuran￿. This work expanded when churches were permitted to open for public worship, albeit In limited way5. 01 particular significance was the ability lo Celebrate baptisms, weddings and funerals. though ne￿$SarIlY, limited numbers were allowed to attend The in¢rease in the number of funerals in chuich has been a significant factor during this latter phase. The f8cI that they We￿ allowed to be held in churches has offered a measure of comfort to bereaved families which was not 8vai18ble in the previous lockdown The additional strain on members of the cleryy should be recognised at this time. In every crisis there are also opportunities fDr Servi￿ and the parishe5 which comprise the diocese have been second lo none In the services offered to their local communities and beyond. Teams of ready volunteers have been at the forefront of'reaching out, to those in any need whatsoever. Loneliness and isolation presented Ihem5e1ve5 as major problems for the elderly, sick and housebound. Rolas of v151tors ensured th8t contact was made with calls, rnessages. shopping and food A major initiative entitled "Staying Together While Aparf, was funded by the Voluntary ServiTrs Etnergency Fund, administered by WCVA ancl funded by the We15h Government. A generous grant of £138,260 enabled th15 major programme lo be organised and sustained Child food poverty was re￿nISed early on as a major issue, not least with the c105ure of schools 8nd the absence of free school meals Working with the management of our network of Catholic schools. we were able lo identify families in need and undertake a major programme by starling lo distribute over £110,000 of digital FO￿ Vouchers This work was funded by grants from the Albert Gubay Charitable Foundation, Barclays Bank and the National Lottery Community Fund. as well as major donations from parishioner5. Not only schools were affected by lockdown. Places of Worship were also locked down for two signilicant peiiods of the year. Gradually they were re-opened for private player and then public worship. with reslri¢ted number5 depending On the capa¢ily of the ¢hur¢h builcling. the track ané trats systems, the deep cleansing and the volunteers lo implement these demanding yel necessary conditions for maintaining health yet respecting the freedom of individuals Of netessily, such measures meant 8 great deal of 8ddilional expenditure t¢ conforw to the r￿ulatiONS The diocese and parishes were supported by £202,668 provided by Welsh Government via the 'Third Sector Res11ientr Fund for W81es' and the'cultural Recovery Fund, Sirnilarly. an awsrd of £226.900 m8de under the 'Heiitage Emergency Fund, from the National Lollery Heritage Fund helped to 5UStain our 8clivilies, tryether with the furlough scheme which meant none of our employees faced redundancy. After the initial shock of the 1311 ol regular Incorne, parishes have engaged with electronic giving. standing orders, Inviting donations on their web51tes. Gradually income 15 inCfe8sing once again Similady, diotssan Investment5 Incorne, hit hard by the economi¢ effects of the pandemic, are again slowly recovering value The meaning of the Church is that it Is a fellowship, a cotnmunion of believers who exist to worship God and express that worship in love 8nd service of neighbour. Although cut off frotn regular worship, the major initiatives surrounding Live Streaming of worship and devotion, the recording of video and you tube reflections. the recording of'M8ss by telèphone, each day a5 well a5 Zoorn Coffee Mornings have all had an impa¢l in keeping people in touch and infoimed Lessons in Communications technology have been learned very we11 by parishes with equipment often funded by the di0￿Se Itself and a150 by external grants. The Diocesan website has improved greatly as a source of information and communic8tion, and the dioTrsan new5P3per has now gone digital. not least as a result of the prohibition of loose papers and magazines been left around ¢hurches In this most atypical of years. the Trustees have conducted their regular meetings by Zoom and have maintained the Spiritual. educational, legal and financial life of the éio¢e5e with great dedication 8nd expertise They look fonvard to describing the coming year as'Annus mirabilis. a wonderful year. Page 3

Archdiocese of Cardiff Report of the Trustees for the Year Ended 31 March 2021 Marriage and Family Life Cornmi8sion The Dioc*se's commitment to the nurturing and developrnent of family life as the key component of it5 pastoral work, 15 demon3lraled by the employment of a part time Family Life Worker. The purpose ol the role Is to nurture a culture of vocation lo marnage 13rnily life throughout the Archdiocese of Cardiff". ¢aring for, supporting and promoting all areas of f8mily life. lo hold up f3mily life as the primary agent of evangelisation In society and to affirm parents as the primary educators in faith." lo support parents in their sacred vocation of parenthood, by enhancing, Improving and 3ffirmir parenuchild interactions through Strengthening the skills and confidence of parents in parishes and schools wthin the Archd10cese.' to provide information and resources In family matters for 811 parishioners and clergy, to act as a link with existing diocesan agencies lo support f8milies with a particular need, lo build on the worft of previous Celebrating Family Initiatives of Everybody's Welcome, Home is 8 Holy Place and Passing on Ihe Faith in the Archdiocese., to promote and evelop national initialive5, responding to the needs and inte￿$t$ al parish and Diocesan level. relating lo supporting marriage and family life The FLVI continues to work alongside the archdiocesan Family Life Commission IFLCI, which is made up of 8 few volunteers from acro55 the deanerE5. Bereavement by Suicide has been a particular focu8 during 2020 with awareness raising workshop5, for both clergy and laity held in February, and with follow up 5ession5 for schools planned early 2021. Gialitude is expressed to Lauren Carvalho la be￿ave(S mother and subsequent bereavetnent counsellorl. Papyrus and SOBS charrties for their training and support. The Glob81 p8ndemic has had an unsurpri$ing impact on the Farnily Life work during 2020. and has enforced a period of reflection and revaluation of working practices and effectiveness. resulting in some definite benefits and increased capacity terrns of connectivity. Our Initial focus has been to produce online seasonal resour￿5 that can be accessed by farnilies and used at home, e.g 'Night of Lighf- a H8lloween resource for reclaiming the festival as a Christian event, and'celebrating Advent at Home 85 a Family- which offers Ideas for family ￿lebratiOnS of Advent. These 8re limele55 downloadable reSoUr￿S that can be used at home. in the parish or In the forming of laiger events al deaftery or Diocesan levels as and when appropriate. Thanks lo 'Staying Together Whilst Aparv roiect funding. the FLC are developing a series of online digilal resource5 to leach out and engage their audien￿S-, the ambition being to eTrgage Catholic families with the rich content. training material and support, that FLC offer, in 8 digi181 Slorylelling format that will be designed for online consumption through the website and Social tnedia Although inili8lly intended for use In a COVID-19 restncled environment. where the usual face-lo-fa approaches are no longer viable, this resou￿ is lo be non-time specific and should bècome a valuable online resource beyond the pandemic. Marriage preparation and relationship support are being delivered online by our colleagues at Marriage Care and the FLW ¢ontinues lo support them, ensuring a Strong link with the diocese is maintained. Page 4

Archdiocese of Cardiff Report ofthe Trustees for the Year Ewtded 31 March 2021 Schools Commlsslon The Archd10￿e of C8rdiff is a major provider of education In SDUth Wales and Herefordshire through ils network ol Primary and Secondary school8. The Schools Commission meets fourtiffles a yearwith members dr8wn from Primary and Secondary headteachers and governors The Chair has a background in teaching. education management and as a high- ranking civil se￿ant advising Ministers of Education in Welsh Government. Covid-19 has C￿ated many challenges for schools. One particular impact has been on the recruitment of schoo1 leaders. where the pandemic has led to a reluctance on the part of potential candidates lo apply for new posts. 811ied lo the concerns of governors about the effectiveness of conducting recruitment processes virtually. In the meantime, CfOS5-border links 8re being slrenglhened with other dI0￿Se$ In South Wales and South West England with a view to ciealing programrnes to help develop future school leaders. There is an ongoing need lo keep the provision of Catholic education across the 010￿e under ￿VIeW in the light of dernographic changes Regular discussions take pla￿ with heads and governors as well as local eduGalion aulhoiity offitsis in order to ensure that there are sufficient places In Dioceszn schools to meet the needs of Catholic families. Proposa15 to bring existing $¢hools tryether into a single school for the 3-16 age group a￿ at an advanced stage In one local authority area. are may be considered in at least two more. At a national level dI0￿san education officers and the Catholic Education ServiTr a￿ developing 8 new England and Wales canonical Inspection framework, to ensure greater consislen¢y between di0￿seS. This work is being undertaken alongside the updating of the Curriculum Directory for Religious Education. Over the forthcorning 8C8demic year existing Diocesan InSpe￿or5 will be retrained In line with the new requirements wth a view to 311 canonical inspections being ¢onducled vnder the new Framework from the start of the 2022 at8demi¢ year. The Welsh Government have introduced legislation to enable schools to adopt a newcurriculum from 2022 onwards. Their Curriculum and Assessment Bill included requirements which would have a significant negative Impact on the teaching of Religious Education in Catholic schools and ¢onlravene the Diocesan Trust Deed A m8jor campaign has been undertake irned at lobbying Ministers and senior officials in Welsh Government and elected Members of the Senedd to change their pioposals. They have been bombarded by lellers from headtea¢her5, goveinors. parishioners. and the Diocesan Bish( and at this point the Minister for Education has Fecogni5ed the cOn￿rn$ of the Catholic sector and indiealed that there will be an appropriate amendment to the legislation. In 8ddiliDn Welsh Government have provided funding to support practitioners from Catholic schools in developing curricvlurn guidance which would be specificto Catholic schools. Safegvardlng Commisslon 2020 has seen the retirement of Marlin Mahoney as Safeguarding Cooidinator and the appointment on the 3rd August of Chris Mullane as a full-time coordinator. Chris 1$ an ex Detective Inspector wth South Wales Poli￿ Whe￿ he had responsibility for Child Protection, Domestic Abuse, and sex offender5 Wlthin his portfolio. Following his retirement. he has delivered a wide range of safeguarding tr8ining for NSPCC, Barnardos and the College of Policing. He is also a former school governor al a catholic primary school. Thi$ year has seen the publication of the Independent Inquiry in to Child Sex Abuse IIICSAI on the Catholic Church The Ellioll report into Sale9uarding In the Catholic Church was published shortly after. Both reports will have long term Imp1icalion8 on Safe9Jarding within the Diocese and the wder Church. The results of this and the ieslructuring of safeguarding will probably not be wholly apparent until way Into 2021. but we can expect- A new regulatory body External Inspection and audit Integration of Safeguarding cornmissions into the governan￿ structure of a diocese A national tribunal for clergy Separation of Religious from diocese Reouirements to publish 3 yearfy safeguarding plans with annual ￿vIewS Trustees have approved 3 new adrninislrative as51s1ant post for the Safeguarding team who should be in post in the New Year. They have 8lso approved the purchase of two cotnpuler systems. S8fesy8 to manage DBS ancl CASE which is case management system. Both these systems will greatly Improve the efficiency of Safeguarding within the Diocese. The Safeguarding priority al present is lo ensure volunteers aTrd Clergy whose DBS check within the past 3 years The Archdiocese ha5 over 1600 volunteers and the pro￿$$ involves the full engagernent of the clergy and parish Safeguarding Representatives to ensure all have been checked within the p￿SCrIbed timescale. Page 5

Archdiocese of Cardiff Report of the TrusteÈs forlhe Year Ended 31 March 2021 Strategic report Financial position The Statement of Financial Activities on p8ge 12 Shows incoming resources of £5 447m. a reduction of £572k on the 31 March 2020 year-end figure of £6.019m Income from legacies of £962k compared with £399k received during 2020, however. donatlOnS to the charity have reduced by £728k The SOFA shows expenditure of £5 323m, a de¢re8se of £926k compa￿￿ to the 2020 figure of £6 249m Included in expenditu￿ is a sum of £1.526m spent on property repairs The quoted investments made a gain of £1.455m during the year A gain was realised on the revaluation of investment properties of £38k. As a result the nel Incoming resources ofthe ¢harily Iof the year shows a surplus of£1.610m compared ith a deficit of £1886lk during the year ended 31 March 2020. Investment Poll¢y The investments are managed by professional managers. The portfolio Is Structured to provide in¢ome and capital growth that will rnaintain real value to finance the objectives of the ¢harity. The quoted investments made a gain of £1455m (net of £31k investment management ¢h8rgesl al the balance sheet dale. Reservo5 The tnJstees' policy is to rnaintain free reserves equivalent lo six month's total expenditure. The balance sheet shows total reserves of ￿4.305m. Tangible Fixed Assets account for £9 781m of the reserves, £3.276m is held in restricted funds managed by the Archd10￿se, and a further £1399m 15 held in design8ted funds Cash reserve5 which are available to meet the day-ltrday expenditure on ils charitable work and aclivities are shown In the balance Sheet and amount to £4,572m. This figure needs lo be con$1dered in the light of the annual expenditure of £5.323m and future planned buildings maintenance 8nd development Page 6

Archdiocese of Cardiff Report of the Trustees for the Year Ended 31 March 2021 Future plans In the coming year, the Trustees are planning a strategic revrew of Diocesan properties, including churches. church hall$. presbylerie8 and rental propertie5. This Is a significant portfolio and needs lo be maintained In the best possible way not lea8t to conform to health and safety legislation. The di0￿8& is responsible for 3 sigTrilicant of listed buildings and these need special care. This Important part of our patrimony is sUPPOrted in no small way tsy grant5 this year from the N8tional Churches Trust, Albert Gubay Chaiitable Foundation, Welsh Church Act Fund. Allchurches Tiust. Garfield Weston Foundation, National Lottery Heritsge Fund and Wolfson Foundation and pari8hioners are generous in providing matched funding for their much loved chur¢hes Rental properties provide a significant proportion ol parish and diocesan income now that they have been rnoderni8ed It is planned that the diocesan projecting for the housing of ￿lUgeeS in conjunction wth local authoritie5 will take a step fonmard in 2021. The dI0￿san Education Department. on behalf of the Trustee5, and the Catholic Education Service continue to have dialogue with Welsh Goveintnent on their Curriculum proposals for Religiou5 Education and these will have particular implications for Catholic s¢hool5. Having recently appointed a new Safegu8rding Officer, the di0￿e is in 3 good position to participate in the decision ol the Catholi¢ Bishops Confeients of England and Wales to implement wide r8nging ieforrns to Saf￿VardIng structu￿$ In the Catholic Church. This Is the resuK of the IrKSependenl Elliott Review whose recommendations the bishops have accepted to implement the'one Chur¢h approach which lie5 at the heart of the safeguarding endeavour. The TIu5tee5, through the diocesan Edu¢alion Department and the C8tholic Education se￿lTr, continue to have dialogue wth Welsh Government on the proposed 'Curri¢ulum and As5es5ment IW8lesl Bill, which Is proposed to become law in 2020-2021. If il becomes 18W, this Bill wll have serious implications foi Catholic school Instead of the current'Religious Education. and 'Personal. Social ancl Health Edu¢ation" curriculu￿, a curriculum described as 'Religion. Values a￿d Ethics together wth 'Relationships and Sex Educst50n" will be mandated. Parental rights of removing their children frcKn these ¢lasses will, In turn. be prohibited by law. Charitable Incorporated Organisation ICIOI On 28th March 2019. the truslees executed a transfer deed which transferred the assets. liabilities and undertakings of the Cardiff Roman Catholic Archdiocesan Trust lo the Archdiocese of Cardiff, Charitable Ineorporaled Organisalion ICIOI. A vesting declaration signed by the trustees on 28th March 2019 ensuied that leg81 tille to permanently endowed property was vested In the CIO, lo be held on ils original trusts The CIO was appointed as trustee for the pemianent endowment trusts and given powers of a trust corporation for those trusts Structure, governance and managernent Governing document The charitable Incorporated oryanisation ICIOI Is established by a tiust deed dated 28 February 2018. The Archdiocese Covers the area cornprising the local authority areas Bridgend, Rhondda Cynon Taff. The Vale of Glamorgan, Caidiff, Merthyr Tydfil, Blaenau Gwent, Toifaen. Newport, Monmoulhshire and Heiefordshire In this are8 there are 62 parishes. comprising 80 Eucharistic Communities. divided into seven deaneries. Three parishes geographically located In the ArchdioTrse are owned and op&r8led by the Benedi¢line Religious Order at Belmont Abbey an¢ a￿ not included In these financial slalements. Page 7

Archdiocese of Cardlff Report of the Trustees for the Year Ended 31 March 2021 Structure and Governan¢e The CIO 15 managed by an unpaid board of trustees, which meets regularly. The managewnent of financial and legal responsibility is vested in the trustees. They are advised by professional staff. in¢lJding voluntary professionals and outside consultants when required The appointment and remov81 of Iruslees rests solely with the Archbishop of Cardiff. The number of trustees may not exceed Six and are 8ppointed for their professional knowledge or for their knowledge and understanding of the aims and objectives of the trust. New trustees are briefed on issues, prO￿￿u[e$ and priorities on their appointment and are urged to familiarise themselves with the charity commission's guidan￿ notes and updates on the duties and responsibilities of charity trustees. The trustees a￿ assisted in the discharge of their responsibilitie5 by the followng boards and consultative bodies. Schools Cornmis$ion Religious Education Commission Pastoral Strategy Board Safeguarding Commission Clergy Welfare Board FinanTr and Property Comrnittee Investment Committee Diocesa￿ Cofflmission5 The work of two of these Commissions Is highlighted in the report. These groups make recommendations to the trustees on prioritie5 and strategies, and are responsible for managing the implemenl8tion of approved 81rat￿les. Members a￿ a mixture ol Jr¢hdioce5an employee5 and volunteer5 appointed by the Aichbi5hop for their expertise of their subject. A full time director leads the Schools Comffli5sion, Is temporarily respon51b1e for the Religiou5 Education Commission. pending the appointment of a new director. A part titne oftiTrr manages the Safeguarding Commission. In addilion the trustees and boards, through the Afchbishop, consult widely with the Col￿ge of Consultors and Council of Priests whose responsibilities are defined by Canon Law. The pastoral oversight of the charity is conducted by the Aichb15hop in ￿gUlar ￿nsultation with the College of Consultors This body consisting of senior clergy assists the Archbishop in all decisions affectin9 the Di0{￿Se. The Council of Priests meets periodically with the Archbishop lo discuss and give advice on a wide range of issues. The Council 15 composed of clergy representing each of seven cleaneries l(NJether with other senior diocesan cleigy and representatives of the re5igious orders working in the diocese. Al parish level, the par15h prie5115 iesponsible for all aspects of running his parish Parish priests are not employees-, in HM Revenue and Customs terms they are Holders of Religious Office and effectively act as agents for the Trustees in all bul the purchase and disposal of property and Inveslnenl assets. Each parish Is required to have a finance commitlee that meets periodi¢ally to support and adv5se tre parish priest on the topics of finance and property A Parish Adrninistration Manual has been issued by the Diocese to parishes and form5 the basis of good parish financial controls. Auditors The auditois. Haine5 Watts Wa185 LLP, wll be proposed for re-appointment at the lorthwming Annual General Meeting. Report of the trustee5, incorporating 8 Strategic report. approved by order ol the board of trustee5, as the company directors, on 26 January 2022 and signed on the board's behalf by.. Trustee Archbi op George Stack Trustee- Ca n P Collins Page 8

Archdiocese of Cardiff Statement of Trustees, Re5ponsibslities for the Year Ènded 31 March 2021 The trustees are responsible for preparing the Report of the Trustees 8nd the financial slalement5 in 8ccordance with applicable law and United Kingcsom Accounting Standards IUnite(J Kingdom Generally Accepted Accounting Practice) The18w applicable to ch8rilies in England and Wales, the Charitie5 Act 2011. Charity IAc¢ounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prep8re financial slalements for each fIna￿CIal yearwhich give a true and fair view of the state of affairs of the chaiity and of the in¢orning resources and application of iesources. including the in¢ome and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required lo select suilable 8ceounling poli¢ies and then apply them consistently-. observe the rnelhods and principles in the Charity SORP. make judgements and estimates that are re8sonable and prudent, prepare the f￿nanCIal statements on the going concern bas15 unless it 15 inappropriate to presume that the Charity V￿11 continue In busine5S. The Iruslees are responsible lor keeping proper accounting records whi¢h dis¢lose with reasonable accuracy at 8ny time the financial position of the charity and to enable them to ensure that the financial slaternen15 comply with the Charities A¢1 2011, the Charity (Accounts and Report51 Regulations 2008 and the provisions of the trust deed. They are also sponsible for safeguardin9 the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities Approved by the Board of Trustees on 26 January 2022 and sig￿e￿ on its behalf by.. Trustee-Ar bisho George Stad Trustee- Can P Collins Page 9

Report of the Independent Auditors to the Trustees of Archdiocese of Cardiff Opinion We have audited the financial slalemenls ofAr¢hdiocese ol Cardiff Ithe'charity'l for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financi81 statements. including a summary of significant accounting policie5. The financial Feporting framework that has been applied in their preparation is applicable 18w and United Kingdom Ac¢ountiDg Standard5, Including Financial Reporting Standard 102 The Financial Reporting Standard 8pplicable in the UK ancl Republitr offl￿18nd (United Kingdom Generally Accepted Accounting Practi￿1. In our opinion the financial 5tatemenls-. give a true and fair view of the state of the charity's affairs 88 at 31 March 2021 and of ils incoming resour￿$ and 8pplic8lion of resources, for the year then ended-. have been properly prepa￿￿ In accordance with United Kingdom Generally Accepted Awounling Practi￿". and have been prepa￿d in a￿ordanCe with the ￿quIre￿&￿t5 of the Chaiitie5 Act 2011 Basis for opinlon We conducted our audit in a¢¢ordance with International Standards on Auditing IUKI IISAS IUKII and 8pplicable18w Our responsibilities under those standards are further described In the Auditors, responsibilities for the audit of the financial statetnents section of our report We are independent of the charity in a¢¢ordan¢e with the ethical requiretnents that are relevant to our audit of the financial 51alemenls ITr the UK. including the FRC'S Ethical Sl8ndard, and we have fulfilled our othei ethical responsibilities in accordance with these requirements We believethatthe aud1t eViden￿￿e have obtained 15 sufficient and appropriate to provide a b85is for our opinion. Con¢lu$lon$ relatlng to golng ¢oncem In auditing the financial slalemen15, we have concluded that the trustees. use of the going concem basis ol accounting in the p￿paratIOn of the financial statements Is appropriate. B8sed on the work we have performed. we have not Identified any tnaterial un￿rtaIntieS re18ting lo events or conditions that, individually or collectively, may cast signifi¢anl doubt on the chHrity'5 ability to continue as agoing concern for a period of al least twelve months from when the financial ststements are aulhorised for issue. Our iespon5ibi11tie5 and the iespon5ibilitie8 of the Iruslees with re$pe¢t to going concern ao described in the relevant sections of this report. Other Information The trustees are responsible for the other information. The other information cornprises the information included in the Annual Report, other than the fin8n¢ial statements and our Report of the Independent Auditors Ihereon. Our opinion on the financial ststements does not cover the other information and, ex￿pt to the extent otherwise explicitly stated in our report. we do not express any form of assuran￿ Condusion thereon. In connection with our audit of the financial statements. our responsibility is to read the other inforrnation and, In doing SO, eon5ider whether the other Informatlon is materially inconsistent with the finan¢ial stslements or our knowledge obtained In the auESitor otherwiseappears to be tnaterially misslaled Ifwe identify such material inconsisten¢ies or apparent materi81 misstatements, we are required to determine whether this give5 rise to a material misslalemenl In the financial statements themselves If. based on the work we have perfortned, we conclude that there is a material misstatement of this other information, we 8re required lo report that fact. We have noth￿￿9 to report in this regaid. The impact of uncertainties due to COVID-19 on our audit Ljncertainties relaling to the effects of COVID -19 are relevant to understanding our audit of the financial 51atemenls. All audits assess 8nd challenge Ihe reasonableness ol estimates made by the trustees, such a5 valuation of assets, appropiiatene5s of the going concern basis of preparation of the finan¢ial statements and associated disclosures. All of these depend on as5es5rnents of the future economic environment and the charity's future prospects and perfomance. The COVID-19 viral pandefnic 15 one of the most significant economic events for the UK, and at the dale of this report its effects are subject lo unprecedented levels of uncertainty of outcomes. with the full range of possible effects unknown. We have applied a standardised approach In response to that uncertainly when assessing the company's future prospects and performance. However. no audit should be eKpecled to predict the unknowable factors or all possible future implications for a company and this is particularly the case in relation to the COVID-19 pandemic. Matters on which we are required to report by exceptlon We have nothing to report in respect of the following mallers where the Charities IA¢count5 and Reportsl Regulations 2008 requires us lo report to you If, In our opinion. the information given in the Report of the Trustees is inconsisienl in any rnalerial respect with the financial slalements,. or the charity has not kept adequate accounting records-. or the financial slalemenls are not In agreement with the acctrunting recor($5 and relums.. or we have not re￿iVed all the information and explanations we require for our Èudil Page 10

Report of the Independent Auditors to the Trustees of Archdiocese of Cardiff Responsibilitie$ of trustees As explained more fully in the Slalement of Trustees, Responsibilitie5, the trustees 8re responsible for the p￿par￿tIOn ol the financial statements and for being satisfied that they give a true and fair view. anrj for such internal contiol as the trEsslees determine is ne¢es$3ry lo enable the preparation of financial statefflenls that are free from material misslalement, whether due to fraud or error. In preparing the financial statements. the trustees a￿ responsible for assessing the charity'5 ability to continue as a going n¢ern, disclosing, as applicable. matters related to going con￿rn and using the going concern basis of arKounling unless the trustees either intend to liquidate the charity or lo ￿ase operations. or have realistic alternative bul to do $0. Our responsibilities for the audit of the financial statements We have been appointed as auditor under section 1443 ofthe Charities Act 2011 and report in accordan￿ with regulations made under section 154 of that Act.. Ourobjectives areto obtain reasonable assurance aboutwhether the financial statements as a whole are free frorn matefial misstatement. whether due to fraud or error. and to Issue 8 Report of the Independent Auditors that indudes our opinion. Reasonable assuran￿ Is a high level of assurance, bul Is not a guaianlee that 8n audit conducted in accordan￿ with ISAS IUKI will always delecl 8 m8terial misstatement when it ex15ts. Misstatements can 8rise from fraud or error and are COn51deied rnalerial if. individualSy or in the aggregate, they Could reasonably be expected lo influence the economic deeision5 of users taken on the basis of these financial statements. The extent to which our procedures are capable of delecling If￿gUlarItIes, Including fraud is detailed tEIow". Our planning procedures iclenlify the I￿al 8nd wulalory frameworks applicable to the operations 8nd financi81 ststements of the ¢harity. These are reviewed Internally with the audit team including relevant industry experience and expectations as well as externally wth the Client managernent. The keylaws and regulations we considered In this context were the. Charities SOFIP IFRS 1021 'Accounling and Reporting by Charities. Statement of Recommended Practi￿ applicable to charities prèparing their accounts in accordance with the Financial Reporting Standard Applicable In the UK and Republic of Ireland,. UK GAAP and relevant lax legislation. on￿ identified, we assess the risks of material rnisslalements in relation lo Ihe laws and regulations. irregularities, including fraud and adjust our testing accordingly. Our audit pro¢edures Include-. Discussing with Trustees and manag&menl which areas of the business they believe lo be more susceptible to fraud, and whether they have any knowledge or su$pi¢ion of fraudulent activities Obtaining an understanding of the key contro15 Put in place by the ¢harity lo address risks identified, assessing the effectiveness of those and disCUSSln9 how these are maintained 8nd monitored Internally Assessing the risk ol managernent override and review 8nd testing of journal entries made into the accounts. system Challenging assumptions and judgements made by the charity in relation to the significant accounting estimates employed in the preparation of the financial statements Desplte the audit being planned and conducted in accordan￿ with ISAS IUKI there iemain5 an unavoidable risk that material rnisslalements In the financial slalements may not be dete¢ted owing to inherent limitations of the audit. and that by their very nature, any such instan￿5 of fraud or irregularities likely involve collu510n, forgery. intentional m15fepresenlalion, or the override of Internal controls. A further description ol our responsibilities for the audit of the financial statements is located on the Financial Reporting Coijncil's website at ￿￿.fr¢.or9.ukAajQIt0rsresponslb1lltle5. This description forms part of Dur Repori of the Independent Auditors Use of our report This report is made solely to the charills trustees. as a body, In accordan￿ with Pait 4 of the Charities (Awounts an Reports) Regulations 2008 Our audit work has been undertaken so that we might state to the charity's Iruslees those wnallers we ale required to state to Ihern in an auditors. report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to 8nyone other than the ¢harity and the eharity'5 truste8s as a body. for our audit work, for this report, 01 for the opinions we have formed Stephen Lucey Isenior Statutory Audilorl Is eligible lo ¥¢1 as sn 8udiiofyn tenns of s$¢tion 1212of th6 CO￿panIeSAcI 200& for and on behalf of Haines Watts Wale5 LLP, Statutory Auditors 7 Neptune Court Vanguard Way Cardiff CF24 5PJ Dale.. 28 January 2022 Page11

Ar¢hdlo¢e$e of cardiff ststement of Financlal Activities Ilncorporating an Income and Expendlture Accounti for the Year Ended 31 March 2021 2021 Total funds 2020 Total fund5 Restricted funds Curial Paiochial Notes IncoTne and endowments from.. Donations and legacies 41.627 3,057,567 225.151 3.324,245 3,636,006 Charitable Activities 68.913 518,379 868,408 1.455,700 895,158 Other trading activities Investment income Revaluation of assets 36.262 216,058 37,718 368,856 7,977 405,118 224,035 37,718 540,924 272,798 673,950 Tot81 400,578 3.952,779 1.093,559 5,446,916 6,018,836 Expenditure on Raising funds 6.408 13,476 19.884 54,547 Charitable Activities 1.147.872 3,028,331 1,127,(E7 5.303,270 6.194.393 Total 1.154.280 3,041,807 1,127,067 S.323,154 6,248,940 Nel gainslllossesl on investments 1,486,370 1.486,370 657.8821 NET INCOMEIIEXPENDITUREI 732,668 910.972 133,5081 1,610,132 1887.9861 Translers between fund$ 548,288 548.2881 Net movement In funds 1.280,956 362.684 133.5081 1.610,132 1887,9861 Reconcilialion of funds Total funds broltght fo￿l2rd 12.611,045 6,774,997 3.309.511 22.695,553 23,583,539 Total funds carried forward 13.892,001 7,137,681 3,276.003 24.305.685 22,695.553 The noles form part of these financi81 stslements Page 12

Archdlocese of Cardiff Statement of Financial Actbvities for the Year Ended 31 March 2021 Icomparative Statement of Flnanclal A¢tlvitiesl Restricted fund5 Total funds Curial Parochial Income and endowments from Donations and legaoe5 42,655 3,110,326 483.025 3.636,006 Charitable activities Charitable Activities 151.346 723,812 20.000 895, 158 Other trading activities Investment income Other in￿rne 51.754 258.529 673.950 489,170 14,269 540,924 272,798 673,950 Totsl 1,178.234 4.337,577 503,025 6.018,836 Expendlture on Raising funds 1,526 49,870 3,151 54.547 Charitable activities Charitable Activities 1,572,521 4,122,477 499,395 6,194,393 Total 1,574,047 4.172,347 502,546 6,248,940 Net gainsll105se51 on investments 657.8821 1657,8821 NET INCOMEIIEXPENDITUREI 11,053,695) 165,229 479 1887,9871 Transfers between funds 650.228 650,2281 Net movement funds 1403,4871 1484,9981 479 1887,9861 Reconciliatlon of furtds Total lunds brought fotward 13,014,511 7.259.995 3.309,033 23,583.539 Total funds carried forward 12,611,044 6.774.997 3,309.512 22.695,553 The notes form part of these finanual statements Page 13

Archdiocese of Cardiff IRegistered number.. 11772721 statement of Financial Position 31 March 2021 2021 Total funds 2020 Total funds Curial Parwhial Note5 Flxed assets Tangible assets Investment5 Investmen15 Investment property 9,781,138 9,781,138 10.090,730 8,407.637 1,545,000 8.407,637 1.545,000 6,952,723 1,235.000 10 19,733,775 19.733,775 18.278,453 Current asset$ Debtors Short Term Deposits Cash at bank and in hand 660,959 240.439 1,724.730 660.959 240,439 3,975,693 599.833 238.243 3.673.403 12 2,250,963 2,626,128 2,250,963 4,877,091 4.511.479 Creditors Amounts falling due within one year 13 130S.1811 1305,1811 194,3791 Net current assets 2.320.947 2,250,963 4.571,910 4,417,100 Total assets le55 current 22,054.722 2.250,963 24.305,685 22,695.553 Inter Fund Balances 14 15,147,1381 5,147,138 NET ASSETS 16.907,584 7,398,101 24,305.685 22.695.553 Fund5 Unrestricled funds Restricted funds 15 13,892,001 3.015,583 7.137.681 260,420 21.029.682 3.276.003 19.386,041 3,309,512 Total funds 16,907,584 7,398.101 24.305.685 22,695,553 The financial statements were approved by the Board of Trustee5 and aulhorised for issue on 26JaMary2022 and were signed on its behalf by.. Truste Arch hop George Stack Trustee- anon P Collins The notes fonn part of these financial statements Page 14

Ar¢hdlo¢ese of Cardlff Cash Flow Statement for the Year Ended 31 March 2021 2021 2020 Notes Cash flows from operatlng a¢tlvltSe$ Cash gener8ted from operations 394.951 1721,8671 Net cash provided byllused inl operating activities 394,951 721,8671 Cash flow$ from Investlng activities Purchase of tangible fixed asset8 Purchase of investment property Dividends. interest 8nd rents from invesbnenls Proceed5 from the sale or transfer of property. plant and equipment 14,5001 1310,0001 224,035 1390,0001 272,798 749,400 Net cash (used inllprovided by investing a¢tivities 90,4651 632,198 Change In cash and cash eoulvalenls In the reporting period Cash and cash equivalents at the beginning of the reporting period 304.486 189.6691 3,91 1.645 4.001,314 Cash and cash equhvalents at the end of the reporting period 4,216.131 3,911,645 The notes fom part of these financial ststemenls Pa9e 15

Archdiocese of Cardlff Note5 to the Cash Flow Ststement for the Year Ended 31 March 2021 Re¢on¢lllatlon of net 1ncomellexpenditu￿l to net cash flow frorn operating activities 2021 2020 Net incomellexpenditurel for the reporting perlod la$ per the Statement of Financial Activities) Adjustments for-. Depreciation charges (Gainlllosses on inve5tmentS Prof510Tr disposal of fixed assets Purchase of investments Dividends & Interest from inve5ttnen15 Ilncfeaselldecrease In debtors Increasellde¢reasel In ¢redilors 1,610.132 1887,9871 314,092 11,454.9141 315,887 690,349 1352,2041 1321,7461 1272,7981 120,441 13,809 1224.0351 161,1261 210.802 Net cash provideil byllu$ed inl opeiations 394.951 721,8671 Analysis of cash and cash equivalents 2021 2020 Cash In hand Cash In hand and at bank 240.439 3.975,692 238,243 3.673,403 Total cash and cash equivalents 4.216,131 3.911,645 Analysss of changes in net funds At 1.4.20 Cash flow At 31.3.21 Net cash Cash al bank and in hand 3,911,645 304,486 4,216,131 3,911,645 304,486 4,216,131 Total 3.911,645 304.486 4,216,131 The notes form part ol these financial statements Page 16

Archdiocese of Cardiff Notes to Ihe Flnancial Statements for the Year Ended 31 March 2021 Accounting policies Basis of preparing the financial statsments The financial stalements of the charity, which is 8 public benefit entity under FRS 102. have been prepared In accordan￿ with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of RecommeTrded Pr3clice applicable to charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191,. Financial Reporting Standard 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial slatetnenls have been prepared under the histDric21 cost convention. with the exception of investments which a￿ included at market value, a5 modified by the revaluation of ￿rtain 88sels. The finan¢ial statements have been prepare£l on a going con￿r￿ basis. The Trustees have reviewed and ¢on8idered relevant information, including the annual budget and fulurt cash flows in making their assessment In Particular. in response lo the COVID-19 pandemi¢. the Trustees have tested their cash flow analysis lo take Into ac¢ount the impact on the charity of possible scenarios brought on by the impact of COVID-19. alongside the measure5 that they can 18ke to mitigate the impact B8sed on these assessments. given the measures that could be undertaken to mitigate the curienl adverse conditions. and thè Current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and 8¢counls. Income and Expenditure Incoming iesources are Included in the Ststement of Financial Activities on the basis of the amounts receivable for the year and resources expended are Included on the bas15 of the amount5 payable for work done and services provided in the year. Charitable expenditu￿ Consists of all expenditure directly relating lo the objects of the Charily. Certain central costs, which cannot be directly allocated. are apportioned on the basis of the Twstee's estirnate of the time spent on the relevant functions. Raising Funds consists of 311 expenditure incurred by the Archd10￿Se lo raise funds for Its charitable purposes. Certain central c051s. which cannot be direclly allocaled, are apportiorted b&￿ert direct charitable expenditure and governance costs on the basis of the Trustees, estimate of the time spent on the relevant functions Support ¢osts Include Governance costs which cotnpiise the costs of running the Charity, including strategic planning for ils future development, also external audit. any legal advice, and all the cost5 of complying wilh conslitulion81 and statutory requirements. such as the costs of Tru5tees' rTreetings and of preparing statutory accounts and satisfying publi¢ ac¢ountabilily. al Legacies, Donations and Grants Legacies and donations are recognised when receivable or when the Diocese becomes legally entitled to them and they can reasonably be measured in financial terms. Receipts of property. investments or other gifts In kincl are Included at fflarkel value. Grants zre iecogn15ed when receivable.me will be received and the amount ¢an be measured ieliably. bl Investments and Investment Income Quoted investments are valued al their middle price on the balance sheet date. Investment propertie5 are stated al a Trustees, v81uation. as advisèd by a qualified Chartered Surveyor. Investment Income Is accounted for a5 It accrues. cl Government Grants Governrnenl grant represents incoffle re￿1vable in relation to the UK government COVID-19job retention scheme. Taxation As a registered charity, the Archdiocese is exempt from tax. corporstion tax and capital gains lax derived from its charitable activ￿lIes. Recovery of tax deducted at source is credited to the category of income to which it r&lales. Tanglble Flxed Assets Prior to 6 April 1996 the cost of fixed assets was written oft In the year of acquisition and no cotnprehensive c05t record5 were maintained. In order lo arrive 8t a reasonable valuation of parish property, taking Into account age, type, condition and life expectancy, the Trustees considered that the then insured values should be discounted and in Subsequent years be depreciated al 20/1 per annum. on the building value only. Properties acquired after 6 April 1996 ale capilalised al the cosl of acquisition. Page 17 conlinue£l...

Archdiocese of Cardiff Notes to the Flnanclal Statements - continued for the Year Ended 31 March 2021 Accounting policies- continued Tangible Fixed Assets The Di0￿Se owns a number of propertie5 that are occupied and run by independent Charities in the form of Voluntary Aided Schools. Thus these properties have not been capitalised There 1$ a potential value, or contingent asset. in the event ol a closure of a school leilhei connected to 8 re-organi88lion or notl Such an asset is re¢ognised only upon the occurrence of a closurelre-organis81ion and the sile's development value becoming Certain. suGh as upon the granting of planning perrnission The recognition of this value is ac¢ounled for as an Incoming resour￿ in the year which th15 value becomes measurable and certain Depreciation is C81cu18ted by the straight line method to write off the cosvvalue less anticipated residual value, over the expected useful lives of assets as follows".- Freehold property lexcluding landl Furniture and equipment 50 years 4t0 10years The charity's policy ogarding capilalisation of assets is as follows Expenditure in relation to freehold land and buildings Is capilalised atcost. expenditu￿ In relation to fixtures 8nd fillings is expensed lo the statement of finanaal actiwties. Galns and Losses Gainsllos8es on investments are calculated 8$ the differen￿ between opening market v81ue and closing market value after adjusting for additions and disposals during the period. No distinction is made behveen realised and unrealised gains in the finan¢ial statements. Schools Building Programme Any grants obtained orn behalf of school governors are netted off against total usts and only the residual cost to the Archdiocese Is Included In the financial statements Paro¢hial Funds Each parish is considered by Canon Law to beiuridi￿l person with corresponding rights and obligations, including the holding and use of funds. The use of these parochial funds is the responsibility of the Parish Priest The Trustees in varying w8ys depending on the amount and sign1ficance of the fund5. However. for the purposes of eivil law parishes are not distinct legal entities and, unless there a￿ distinct and express special trusts clearly evidenced In law, parochial funds are therefore shown as Un￿strICted fund5. Pemianent Endowment Funds The capital of Permanent Endowment Funds must be main181ned intact with any Income arising being available for reslficled or general charitable purposes of the Archd10cese, according to the terms of the original gift Fund A¢¢ounllng Unrestricted funds comprise accumulated surpluses and deficits on general funds They are availaue for use al the discretion ol the Trustees in furtheran￿ of the general charitable objectives. Designated funds are funds set aside by the Trustees for specific purposes Isee note 111. Restricted funds 8re used for specifi¢ purposes as stated by the grantor. Expendituie which rneet5 these criteria is charged to the fund (see note 101. Pefisions All eligible staff mayjoin the Diocesan pension plan lo whi¢h the Archdiocese makes a contribution. No liability falls upon the Archdiotsse. as employer, to make good a shortfall of funding other th8n contributions due Debtors Debtors are stated at their transaction price less any provision for non recoverable amounts. Cash Cash ba18nces are staled at their year end reconciled amounts which take account of year end transactions that will clear the bank post year end. Creditors Creditors a￿ stated al their transaction price Charltable Intorporated Organisatlon ICIOI The transfer deed executed by the trustees on 28th MarGh 2019 transfe￿ed the assets, liabilities and undertakings of the Cardiff Roman Catholic Ar¢hdiO￿9an Trust to the Archdiocese of Cardiff, Ch8rit8ble Incorporated Organisalion ICIOI. Merger accounting under FRS102 has been applied and a5 a result the financial slalemenl$ incorporate the results of the Old ch8rity for the years ended 31 March 2019 and 31 March 2018 as if the CIO had been operating as the charity at that time. Page 18 continued...

Archdiocese of Cardiff Notes to the Financial Statements continued for the Year Ended 31 March 2021 Donatlon$ and legacles 2021 2020 Donations Gift aid receivable Le9acies 2,154,566 207,630 962,149 2,882,100 355,278 398,627 3,324.345 3,636,005 Income from chaiitable actrvities 2021 2020 Grant received Commission Sundry income Courses and counselling Charitable Activities Ch8rilable A¢livilies Charitable Activities Charitable Activities 1.386,787 38,076 28,042 2,795 895, 158 1,455,700 895,158 Expenditu Inote 51 Allocated Support Direct Personnel Direct Premises Direct Other Total 2021 Total 2020 Charitable ActivÉties Provision for Worship Ministry Support Pastoral & Community Education Raising Funds 142,213 74.363 2.457,761 213,775 47,219 1,235.317 286,606 228,703 112.711 401.714 60.200 28.891 11.805 2,083 4.237.005 634,945 304.723 124,516 2,083 4.706,101 872,259 397,816 213,203 5,014 216.578 2,718,664 1,863.338 504,692 5,303,270 6,194.393 Ral$lng Funds Appeal Costs 19.884 19,884 54,547 19,884 19.884 54,547 216,576 2.718.664 1,883.222 504,692 5,323.154 6,248,940 Page 19 continued

Archdiocese of Cardiff Notes to the Financial Statements- continued for the Year Énded 31 March 2021 Allocated Support ¢05ts Provlslon Pastoral for Worship Ministry Support Raising Funds Total 2021 Total 2020 Community Educallon Governan Finan Infortnalion Technology Premise5 Costs 23,730 43,358 3,556 6,498 1,707 3,118 697 1,274 123 225 29,814 54,473 95,644 53,735 37,684 45,163 251,778 5,647 6,768 37.731 2,710 3,248 18.108 1,107 1,327 7,399 195 234 1,305 47,344 56,740 316,322 38, 193 60, 144 278.386 Human Resources 401.714 60,200 28,891 11,805 2,083 504,692 526.102 Investrnent income 2021 2020 Arising on quoted investments Bank Interest 213.862 10,173 248.415 24.383 224,035 272.798 Staff costs The average number of total employees Inol full time eouivalentsl of the Arehdioce5e during the period and their aggregate ernolurnent5 are shown below. 2021 2020 Staff Co$t$ Curia Government grant Parishes linc. Clergy Allowan￿) 742.374 135,2591 445.435 652.758 585.583 1.152.55Q 1,238341 Allocated HR 5UPPOrt staff cost8 including in the above.. Wages and salaries Employers, Nl 269,820 46,502 237, 159 41,227 316,322 278,386 The average monthly number of employees during the year was as follows". Departmenls P3r15h 2021 26 16 2020 18 19 42 37 No ￿nployeeS received emoluments in ex￿$$ of £60.000. In aggregate, key rnanagernent personnel received remuneration tolalling £245,07312020". £171.2181. Page 20 conlinued...

Ar¢hdio¢e$e of Cardiff Note5 to the Finantial Staternents continued forthe Year Ended 31 March 2021 Tanglble flxed assets Freehdd L8nd & Buildings Furniture & Eouipment Tota15 Cost At 1 April 2020 Additions 15.002.093 984.059 4.5009 15,986,152 4.500 At 31 March 2021 15,002,093 988.559 15,990,652 Depreciation At 1 April 2020 Charge lor year 4.989,608 312,684 905.814 1.408 5,895.422 314,092 At 31 March 2021 5,302,292 907.222 6,209,514 Net book value At 31 March 2021 9,699,801 9,781,138 At 31 March 2020 10 012,485 78.245 10.090 730 The Archd10￿Se also owns 8 number of properties, which are occupied ancs run by independent Charities in the form ofvoluntary Aided Schools. The Trustees ¢onsider that these piopertie5 have no capital value to the charity, see the 8WOUllting policy for Tangible Fixed Assets A list of the schoo15 in the Archdiocese is sel out on the Di0￿$8n website. All fixed assets 8re used in direct furtheran￿ of the Charity's objects Fixed asset investments Quoted Investments Market value At 1 April 2020 Revaluations 6,952.723 1.454.914 At 31 March 2021 8,407.637 Net book value Al 31 Mar¢h 2021 8,407.637 At 31 March 2020 6,952.723 All quoted Investments (other than cashl are quoted on a recognised UK Stock Exchange or are valued by reference lo investments listed on a recognised Stod( Exchange No investrnent5 incl￿ed wthin the investment portfolio al the yezr*nd represented more than 5°A total Portfo110 valuation. Page 21 CO￿tinUed...

Archdlo¢e$e of Cardiff Notes to the Financlal Statements . Continued for the Year Ended 31 March 2021 10. Investment property Market value Al 1 April 2020 Additions RevalJation gainslllossl 1,235,000 272,282 37.718 Al 31 March 2021 1.545.0(K) Market value Al 31 March 2021 1,$45.0(K) At 31 March 2020 1,235,OOD 11. Debtors 2021 2020 Arnount5 falling due within one year.. Other debtors Unsecured concessionary loans to priests, etc. 215,771 132,893 7,445 9,197 223,216 142,090 Amounts falling clue after more than one year". Other debtors 437,743 457,743 Aggregate amounts 660,959 599,833 12. Short term investrnent5 2021 2020 ilding Society Accounts 240.439 240,439 238,243 238,243 Page 22 continue

Archdiocese of Cardlff Note5 to the Financial Statements contlnued for the Year Ended 31 March 2021 13. Creditor5- amounts falling due within one year 2021 2020 Other ¢reditors Short Term Loans Accrued expenses 247,935 700 56,546 72,705 700 20,974 305,181 94,379 Short term loans held within creditors are p8yable within one year. 14. Interfund balances 2021 2020 Parish Deposit A¢¢ounts" Parish Loan Accounts 6.644,119 1.496.9821 6.348,816 1.341,4611 5,147,138 5,007.355 'Parish funds invested by the Archd10￿e 16. Movement fund5 Net movement in funds Transfers between funds At At 1.4.20 Unrestrlcted fund$ Curial Parochi81 Housekeepers. Pension Fund Sea Mission Clergy Welfare Fund Schoo15 Developtnent Fund Catnpaign Fund Property Fund Insurance Reserve Fund Cathedral Developnent Fun 11.208,384 fj.774,997 195,918 28.397 70.239 196.768 659,837 107.261 24,240 120.000 736,633 910.972 13.9651 548,288 1548,2881 12,493,306 7,137,681 191,953 28,397 70,239 196,768 659,837 107,261 24.240 120.000 19,386.041 1,643,640 21.029.682 Restrl¢ted fund$ Priest Training Fund Poor Missions Endowed Missions & Masses Overseas Mission Fund Sick & Retired Clergy Fund Archbishop Murphy Fund Mensal Fund Our Lady of Vocations Fund Cathedral Restoration Fund Pastoral Strategy Fund Catholi¢ Care of the Deaf Fund Sensory Garden Syrian Refugee F8mily Support Special Collections 1,122,587 746,241 65,700 76,072 126,506 624,533 58.586 2,713 6.236 21,610 209.276 10.723 14,851 223,778 154,5171 1,068.169 746.241 59.900 75,072 126,506 624,533 52,586 2,713 6,667 21,610 206,337 10,398 14,851 260.420 15,8001 11.0001 16.0001 431 12,9391 13251 36.642 3,309.512 33,5081 3.276,003 Totsl Funds 22,695,553 1.610,132 24,305,685 Total Curlal 22,054,720 16,907,582 Page 23 continued.--

Archdiocese of Cardiff Notes to the Financial Statements- continued for the Year Ended 31 March 2021 15. Movement in funds- £ontinued Nel movement in funds, induded in the 8bove 8re as follows. Incorning reSour￿S ResoiJr(ts expende(I Gains ancl losses Movement in fund5 Unre51ricted fund5 Curia Paro¢hial Housekeepers. Pension Fund 400,578 3,952,779 11,150,315) 13,041,807) 13,9651 1,486.370 736.633 910.972 3,9651 4.353,357 14,196.0871 1,486.370 1.643.640 Restrl¢ted fund$ Priest Training Fund Endowed Missions & Ma$$es Overseas Mission Fund Sick & Retired Clergy Fund Menssl Fund Cathedral Restoration Fund Catholic Care of the Deaf Fund Sen50ry Garden Special Collections Albert Gubay Food Poverty Barclays Food Voucher SGheme NLCF Food Poverty HLF Building Resilience S18ying Together Whilst Apart Third Sector Resilien￿ Fund WCVA Cultural Recovery Grant Heiitage Emergency Fund 20.774 500 175,2911 16,3001 11,0001 115,0571 16,oix)I 154,5171 15,8001 11,0001 15.057 16,Q)01 431 12,9391 13251 36,642 431 759 13,6981 13251 1170,9881 1170,5951 1100,0001 126.9011 125.3351 1138,2601 156.2501 1116.6671 214.4001 207,630 170,595 100,000 26,901 25,335 138,260 56,250 116,667 214.400 1.093,559 1,127.067 ,5081 TOTAL FUNDS 5.446.916 5.323.154) 1.486.370 1,610,132 Page 24 continued..

Archdiocese of Cardiff Note$ to the Flnan¢lal Slatements- continueil for the Year Ended 31 March 2021 16. Movement in funds- continued Comparatives for movernent in funds Net movement in funds Transfers tween funds At 31.3.20 Al 1.4.19 Unrestrlcted funds Curial P8rochial Housekeepers. Pension Fund Sea Mission Clergy Welfare Fund Schools Development Fund Ca￿Paign Fund Property Fund Insurance ReseNe Fun Cathedral Development Fund 11.607,879 7.259,995 199,890 28.397 70.239 198,768 659.837 107.261 24.240 120.000 11,049,723) 165,330 13,9721 650,228 1650,2281 11,208,384 6,774,997 195,918 28,397 70,239 196,768 659,837 107,261 24,240 120,CQO 20,274,506 1888.4651 19,386,041 Restricted funds Priest Training Funi Poor Missions Endowed Missions & Masses Overseas Mission Fund Sick & Retired Clergy Fund Archbishop Murphy Fund Mensal FuTrd Our Lady of Vocations Fund Cathedral Resloraiion Fund Pastoral Strategy Fund Catholic Care of the Deal Fund Sensory GarrSen Syrian Refugee Family Support Special Collections 1,133.365 746.241 70,7(NJ 76,072 126,504 624.533 58.586 2.713 5.790 21.610 195,913 11,054 18,334 217,616 110.6781 1,122,687 746,241 65,700 76,072 126,504 624,533 58,586 2,713 6,236 21,610 209,276 10,723 14,851 223.778 15,0001 446 13.363 13311 13.4831 6.162 3,309,033 479 3.309.512 TOTAL FUNDS 23.583,539 887,9871 22.695.553 CompaFative net movernent in funds. included in the above are as follows". Incorning resource5 Resources expended Gains and losses Movement in funds Unrestrl¢ted funds 1,178,234 4.337.577 11,570,075) 14,172,347) 3,9721 1657,8821 11.049.723) 165.330 3,9721 Paiochial Housekeepers Pension Fund 5,515.811 15,746,3941 1657,8821 1888,4651 Restricted funds Priest Training Fund Endowed Mis510ns & Masses Sick & Retired Clergy Fun(5 Cathedr31 Restoration Fund Catholic Care of the Deaf Fund Sensory Garden Syrian Refugee Family Support Special Collections 57,741 168.4191 15.0001 176.1851 110.6781 15.0001 76,185 446 20,967 250 1,517 345,919 446 13,363 17,6041 15811 15,0001 339,7571 13.4831 8.162 503.025 1502,5461 479 TOTAL FUNDS 6.018.836 887,9871 Page 25 continued...

Ar¢hdlocese of Cardiff Notes to the Financial StatÈment$- continued for the Year Ended 31 Mar¢h 2021 16. Movement In funds. conlinued Curtal Priest Training Fund- for the training and ongoing fortnation of priests Poor Missions for building and improving churches and Schools in the poor areas of the di0￿Se Endowed missions and masses- donations and legacies for churches 8nd masses Overseas Mi5510ll5- for the support of miSSiDns in Africa and S.America Sl¢k and retlred clergy- to support priest5 in retirement and in ill health Archbl$hop Murphy- for the training of priests and laity Mensal for the support ol the Archbishop Our Lady of Vocatlon$- for Ihe promotion of vocations to the priesthood Cathedral restoration- donations for the proposecl iestoration Pastoral strategy- to 5UPPOrt the pastoral training of Clergy and laity Calhollc Care of the Deaf - to promote the education. welfare arKI spiritual wellbeing of the deaf within Wales Natlonal Lottery HLF Grant- for the iestoialion of the Cornerstone Chapel Sensory Garden - ¢Jonations to provide a Sensory Garden at Cornerstone World Youth Day- donations for the Dioces8n group to visit Krakow for World Youth Day Syrian Refugee Famtly Support- lo support a Syrian Refugee farnily living in the P8rish of Our Lady Star of the Sea, Porthcav Covld Relief Grants- lo support the DI0￿Se and provKle relief lo parishes from the effects of COVID-19 Paroehlal Special Collections- collections taken in parishes for specific appeals Desi nated funds Housekeepers pension- for the pensions of retired parish housekeepers Sea Mission- for the support of the Apostleship of the Sea Clergy welfare- funds allocated 10 5UPPOrt retired and infirm Clergy S¢hool$ development- towards the future development of dI0￿$an schools Campaign fund- unrestricted donations lor clergy welfare, cathedral restoration and pastoral strategy Property fund- grants to be amortised over the life of the buildings Insurance reserve fund - to equ81ise premiums and fund parish risk fflanagement Cathedral develtsprnent fund- for the repair 8nd refurbishment ol Cardiff Metropolrtan Cathedral Transfer between fund Fund transfers for the reallocation ol the parochial costs. Page 26 continued...

Archdio¢ese of Cardlff Notes to the Flnancial Statements contlnued for the Year Ended 31 March 2021 16. Transactions with trustees Certain ofthe Tiustees are also priests within the Diocese. As piiests they receive income from their office together wilh living accommodation, living expenses and reimbursement of wsls Incurred on behalf of their parish on the same basis JS other priests within the Diocese. No Trustees re￿1ve any rernuneialion or benefits from theii trusteeships. No tru51ees were paid lor pioviding professional serVI￿S to Ihe Diocese. 17. Cornerstone lease The restaurant and cafe facilities at Cornerstone are leased lo a third party The lease has been granted for a period of 25 years with 8 review to b& undertaken every 5 years Page 27 continued..