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2022-03-31-accounts

Contents ofthe Financial Statements
forthe Year Ended 31 March 2022
Page
Reference and Administrative
Details
Report ofthe Trustees 2 to 8
Statement of Trustees' Responsibilities
Report ofthe Independent
Auditors		 10 to 11
Statement of Financial Activities 12
Comparative Statement of Financial Activities 13
Statement of Financial Position 14
Statement of Cash Flows 15
Notes to the Statement ofCash Flows
Notes to the Financial Statements 17 to 28

Trustees Mr MJ Prior
Archbishop
G Stack (resigned 26e January 2023)
Very Reverend J Boardman
MrJAntoniazzi
FCA (resigned 26th January 2023)
Canon P Collins (resigned 26s January 2023)
Rev Dr Philip Manghan
Dr Nore Iglleen
Anne Curran (resigned 28e April 2022)
Right Reverend
M O'Toole (appointed 20sJune 2022)
Senior Management
Director of Schools and Colleges Ms A Robertson
BA
Director of Religious Education (Schools) Rev BSixtus
Property Manager MrJYeoman BSc(Hons) PG Dip RIBA
Treasurer
Development		 Manager Mr D Evans FCCA DChA MinstLM
Dr0Collins BA (Hone) MA
Safeguarding Coordinator Mr C Mullane
Registered office 41/43 Cathedral
Road
Cardiff
South Wales
CF119HD
Registered charity number 1177272(England
and Wales)
Solicitors Seffords Solicitors
Jenner House
1aJenner Road
Guildford
Surrey GUI 3PH
Investment advisers Brewin Dolphin
9Colmore Row
Birmingham
B32BJ
Bankers Barclays Bank PLC
1-5St. David's Way
St David's Centre
Cardiff
CF102DP
Auditors Haines Watts Wales LLP
Chartered
Accountants
7 Neptune
Court
Vanguard
Way
Cardiff
CF24 5PJ

for the Year E nded 31 March 2022
2022 2021
Restdicted Total Total
Curial Parochial funds funds funds
Notes F 8 6 6 6
Income and endowments from:
Donations
and legacies		 2 114,025 3,080,763 495,103 3,689,891 3,324,345
Charitable
Activities		 3 121,899 498,884 187,367 808,150 1,455,700
Other trading
activities		 63,978 316,319 380,297 405,118
Investment
income
Revaluation
ofassets		 6 225,101
220418		 8,469
120000		 233,570
3 8«8		 224,035
37718
Total 745,421 4,024,435 682,470 5,452,326 5,446,916
Expenditure
on
Raising funds 4 3,163 15,218 3,929 22,310 19,884
Charitable
Activities		 1,682,443 3,467,910 512,987 5,663,340 5,303,270
Total 4 1,685,606 3,483,128 516,916 5,685,650 5,323,154
Net gains/(losses)
on
investments 361714 361 714 1 486370
NET INCOME/(EXPENDITURE) (578,471) 541,307 165,554 128,390 1,610,132
Transfers
between funds
Net movement
in funds		 63,117 (100,281) 165,554 128,390 1,610,132
Reconciliation
offunds
Total funds brought forward 13,892,001 7,137,681 3,276,003 24,305,685 22,695,553
Total funds carried forward 13,955,118 7,037,400 3,441,557 24,434,075 24,305,685

(Comparative Statement of Financ ial Activities)
Restricted Total
Curial Parochial funds funds
f 6
Income and endowments from
Donations
and legacies		 41,627 3,057,567 255,151 3,324,345
Charitable
activities
Charitable
Activities		 68,913 518,379 868,408 1,455,700
Other trading
activities		 36,262 368,856 405,118
Investment
income		 216,058 7,977 224,035
Other mcome 37,718 37718
Total 400,578 3,952,779 1,093,559 5,446,916
Expenditure
on
Raising funds 6,408 13,476 19,884
Charitable
activities
Charitable
Activities		 1,147,872 3,028,331 1,127,067 5,303,270
Total 1,154,280 3,041,807 1,127,067 5,323,154
Net gains/(losses)
on investments		 1486370 1 486370
NET INCOME/(EXPENDITURE) 732,668 910,972 (33,508) 1,610,132
Transfers
between funds		 ~88&
Net movement
in funds		 1,280,956 362,684 (33,508) 1,610,132
Reconciliation offunds
Total funds brought forward 12,611,045 6,774,997 3,309,511 22,695,553
Total funds carried forward 13,892,001 7,137,681 3,276,003 24,305,685
2022 2021
Total Total
Curial Parochial funds funds
Notes 5 6 E
Fixed assets
Tangible assets 8 9,814,410 9,814,410 9,781,138
Investments
Investments 9 8,232,484 8,232,484 8,407,637
Investment
property		 10 1,650,000 1,650,000 1,545,000
19,696,894 19,696,894 19,733,755
Current assets
Debtors 11 570,575 570,575 660,959
Short Term Deposits 12 240,439
Cash at bank and in hand 1,973,642 2,293,822 4,267,464 3,975,693
2,544,217 2,293,822 4,838,039 4,877,091
Creditors
Amounts
falling due within one
year 13 (100,858) (100,858) (305,181)
Net current assets 2,443,359 2,293,822 4,737,181 4,571,910
Total assets less current
liabilities 22,140,253 2,293,822 24,434,075 24,305,685
Inter Fund Balances 14 (4,980,099) 4,980,099
NET ASSETS 17,160,154 7,273,921 24,434,075 24,305,685
Funds 15
Unrestricted funds 13,955,119 7,037,399 20,992,518 21,029,682
Restricted
funds		 3,205,035 236,522 3,441,557 3,276,003
Total funds 17,160,154 7,273,921 24,434,075 24,305,685

A rchdiocese of Cardiff
Cash Flow Statement
for the Year Ended 31 INarch 2022
Notes 2022f 2021
5
Cash flows from operating activities
Cash generated
from operations		 ~446,818) 394,951
Net cash provided
by/(used		 in) operating activities ~446,818) 394,951
Cash flows from investing activities
Purchase oftangible
fixed assets		 (610,000) (4,500)
Purchase of investment
property		 (310,000)
Dividends, interest and rents from investments 233,570 224,035
Proceeds from the sale ofinvestments 502,705
Proceeds from the sale or transfer ofproperty, plant and equipment 371,876
Net cash (used in)/provided by investing activities 498,151 ~90,465)
Change
in cash and cash		 equivalents in
the reporting
period		 51,333 304,486
Cash and cash equivalents at the
beginning ofthe reporting period 2 4,216,131 3,911,645
Cash and cash equivalents at the end of
the reporting
period		 2 4,267,464 4,216,131

for the Ye for the Ye ar Ended 31 March 2022
1. Reconciliation
ofnet income/(expenditure)		 to net cash flow from operating activities
2022 2021f
Net income/(expenditure)
forthe reporting
Statement of Financial Activities)		 period (as per the 128,390 1,610,132
Adjustments
for:
Depreciation
charges		 320,270 314,092
(Gain)/losses
on investments		 (432,552) (1,454,914)
Profit on disposal of fixed assets (115,418)
Dividends
&interest		 from investments (233,570) (224,035)
(Increase)/decrease
Increase/(decrease)		 in debtors
in creditors		 90,384
~204,322		 (61,126)
210,802
Net cash provided by/(used
in) operations		 ~466,818) 394,951
Analysis ofcash and cash equivalents
2022 2021
6
Cash in hand and at bank 4,267,464 4,216,131
Total cash and cash equivalents 4,267,464 4,216,131
3. Analysis ofchanges
in net funds
At 1.4.21
5		 Cash flow
6		 At 31.3.21
f
Net cash
Cash at bank and
in		 hand 4,216,131 51,333 4,267,464
4,216,131 51,333 4,267,464
Total 4,216,131 51,333 4,267,464

Donations and legacie s
2022 2021
F
Donations 2,503,955 2,154,566
Gift aid receivable 284,358 207,630
Legacies 901,578 962,149
3,689,591 3,324,345
Income from charitable activities
2022 2021
Activity F 6
Grant received Charitable Activities 742,697 1,386,787
Commission Chadtable Activities 20,722 38,076
Sundry
income		 Chantable Activities 38,562 28,042
Courses and counselling Chantable Activities 6,169 2,795
808,150 1,455,700

4. Expenditure
(note 5)
Direct Direct Direct Allocated Total Total
Personnel Premises Other Support 2022 2021
6 6 6 6 6
Charitable Activities
Provision for Worship 364,262 2,789,072 704,001 328,558 4,185,893 4,237,005
Ministry Support 70,150 229,494 335,799 54,126 689,569 634,945
Pastoral & Community 57,493 528,783 49,937 636,213 304,723
Education 138,010 11,755 149,765 124,516
Raising Funds 1,900 1,900 2,083
434,412 3,076,059 1,706,593 446,276 5,663,340 5,303,270
Raising Funds
Appeal Costs 22,310 22,310 19,884
22,310 22,310 19,884
434,412 3,076,059 1,728,903 446,276 5,685,650 5,323,154

Provision Pastoral
for Ministry & Raising Total Total
Worship Support Community Education Funds 2022 2021
E E. E E E
Governance 61,603 10,148 9,363 2,204 356 83,675 29,814
Finance 44,517 7,334 6,766 1,593 257 60,467 54,473
Information
Technology 27,625 4,551 4,199 988 160 37,524 47,344
Premises Costs 45,946 7,569 6,983 1,644 266 62,408 56,740
Human Resources 148,865 24,524 22,626 5,326 861 202,202 316,322
328,558 54,126 49,937 11,755 1,900 446,276 504,692

Investment income income
2022 2021
E E
Arising on quoted investments 220,960 213,862
Bank Interest 12,610 10,173
233,570 224,035

Staff costs
The average number oftotal employees (not full time equivalents) ofthe Archdiocese during
the		 period and their
aggregate
emoluments		 are shown below.
2022 2021
Staff Costs E E
Curia 747,235 742,674
Government grant (35,259)
Parishes (inc. Clergy Allowances) 479,190 445,435
,5 0
Allocated
HR support staff		 costs including in the above:
Wages and salaries 172,851 269,820
Employers' Nl 29,351 46,502
202,202 316,322
The average monthly number ofemployees during the year was as follows 2022 2021
Departments 26 26
Parish 16 16
42 42

Tangible fixed assets
Freehold
Land & Furniture
Cost
At 1 April 2021
Additions
Disposals		 Buildings
6
& Equipment
f
15,002,093
988,559
610,000
~i~
~ 6&		 Totals
5
15,990,652
610,000
~0i
At 31 March 2022 15320709 985933 16306642
Depreciation
At 1 April 2021
Charge for year
Elimination
on disposal		 5,289,652
306,417		 919,862
13,853		 6,219,514
320,270
~3
At 31 March 2022 5,561,143 931,089 6,492,232
Net book value
At 31 March 2022 9,759,566 54,844 9,814,410
At 31 March 2021 9,712,441 68,697 9,781,138
Fixed asset investments
Quoted
Investments
8
Market va!ue
At 1 April 2021 8,407,637
Disposals (502,705)
Revaluations 327,552
At 31 March 2022 8,232,484
Net book value
At 31 March 2022 8,232,484
At 31 March 2021 8,407,637

Notes to the Financial Statements
for the Year Ended 31 Starch		 - continued
2022
10. Investment
property
Market value
At 1 April 2021 1,545,000
Revaluation
gains/(loss)		 105,000
At 31 March 2022 1,650,000
Market value
At 31 March 2022 1,650,000
At 31 March 2021 1,545,000
11. Debtors
2022 2021
5 6
Amounts
falling due within one year:
Other debtors 143,515 215,771
Unsecured
concessionaryloans
to priests, etc. 9,317 7,445
152,832 223,216
Amounts
falling due after more than one year.
Other debtors 417,743 437,743
Aggregate
amounts		 570,575 660,959
12. Short term investments
2022f 2021
Bwlding Society Accounts 240,439
240,439

nter fund balances
2022 2021
Parish Deposit Accounts
Pansh Loan Accounts		 F
E
6,599,971
6,644,119
~i~96.9»
4,980,099 5,147,138
'Parish
funds invested		 by the Archdiocese
Movement
in funds
Net Transfers
movement between At
At 1.4.21 in funds funds 31.3.22
E E E E
Unrestricted
funds
Curial 12,493,306 77,122 641,588 13,212,016
Parochial 7,137,681 (100,280) (641,588) 6,395,812
Housekeepers'
Pension		 Fund 191,953 (4,005) 187,948
Sea Mission 28,397 (10,000) 18,397
Clergy Welfare Fund 70,239 70,239
Schools Development Fund 196,768 196,768
Campaign
Fund		 659,837 659,837
Property
Fund		 107,261 107,261
Insurance
Reserve Fund		 24,240 24,240
Cathedral
Development		 Fund 120,000 120,000
21,029,682 (37,164) 20,992,518
Restricted funds
Priest Training
Fund		 1,068,169 51,636 1,119,806
Poor Missions 746,241 746,241
Endowed
Missions
&Masses		 59,900 59,900
Overseas
Mission Fund		 75,072 75,072
Sick & Retired Clergy Fund 126,506 78,877 205,383
Archbishop
Murphy
Fund		 624,533 624,533
Mensal
Fund		 52,586 52,586
Our Lady ofVocations Fund 2,713 2,713
Cathedral
Restoration		 Fund 6,667 431 7,098
Pastoral Strategy
Fund		 21,610 21,610
Catholic Care ofthe Deaf Fund 206,337 (2,021) 204,316
Sensory Garden 10,398 (1,143) 9,255
Syrian Refugee Family Support 14,851 14,851
Speaal Collections 260,420 (23,898) 236,522
National Schools Singing Programme 25,000 25,000
Third Sector Resilience Fund for Wales 36,672 36,672
3276003 165554 3441 557
Total Funds 24,305,685 128,390 24,434,075
Total Curial 16,907,584 17,160,154
Page 23 continued. .

Net movement
in funds, included
in the abo		 ve are as follows:
Incoming Resources Gains and Movement
resources
f		 expended losses
f		 in funds
6
Unrestricted
funds
Curial 745,420 (1,030,012) 361,714 77,122
Parochial 4,024,436 (4,124,717) (100,281)
Housekeepers'
Pension
Fund
Sea Mission		 (4,005)
~10,000)		 (4,005)
~10,000)
4,769,856 (5,168,734) 361,714 (37,164)
Restricted funds
Priest Training
Fund		 75,897 (24,261) 51,636
Sick &Retired Clergy Fund 214,679 (135,802) 78,877
Cathedral
Restoration
Fund		 431 431
Catholic Care ofthe Deaf Fund 4,108 (6,129) (2,021)
Sensory Garden (1,143) (1,143)
Special Collections 240,987 (264,886) (23,898)
NLCF Food Poverty 35,848 (35,848)
HLF Building Resilience 48,847 (48,847)
National Schools Singing Programme 25,000 25,000
Third Sector Resilience Fund 36,672 36,672
682,470 ~516,916 165,554
TOTAL FUNDS 5,452,326 ~5,685,650) 361,714 128,390

Movement
in funds - continue		 Movement
in funds - continue		 Movement
in funds - continue		 d
Comparatives
for movement		 in funds
Net Transfers
movement between At
At 1.4.20
F		 in funds
5		 funds
f		 31.3.21
Unrestricted
funds
Curial 11,208,384 736,633 548,288 12,493,306
Parochial 6,774,997 910,972 (548,288) 7,137,681
Housekeepers'
Pension
Sea Mission		 Fund 195,918
28,397		 (3,965) 191,953
28,397
Clergy Welfare Fund 70,239 70,239
Schools Development Fund 196,768 196,768
Campaign
Fund		 659,837 659,837
Properly
Fund		 107,261 107,261
Insurance
Reserve Fund		 24,240 24,240
Cathedral
Development		 Fund 120,000 120,000
19,386,041 1,643,640 21,029,682
Restricted funds
Priest Training
Fund		 1,122,687 (54,517) 1,068,169
Poor Missions 746,241 746,241
Endowed
Missions
&Masses		 65,700 (5,800) 59,900
Overseas
Mission Fund		 76,072 (1,000) 75,072
Sick &Retired Clergy Fund 126,506 126,506
Archbishop
Murphy
Fund		 624,533 624,533
Mensal Fund 58,586 (6,000) 52,586
Our Lady ofVocations Fund 2,713 2,713
Cathedral
Restoration		 Fund 6,236 431 6,667
Pastoral Strategy Fund 21,610 21,610
Catholic Care ofthe Deaf Fund 209,276 (2,939) 206,337
Sensory Garden 10,723 (325) 10,398
Syrian Refugee Family Support 14,851 14,851
Spewal Collections 223,778 36,642 260,420
3276003
Total Funds 22,695,553 1,610,132 24,305,685
Total Curial 22,054,720 16,907,584

Comparative
net movem		 ent
in funds,
incl		 uded
in the above are		 as follows:
Incoming Resources Gains and Movement
resources
f		 expended
E		 losses
8		 in funds
6
Unrestricted
funds
Curial 400,578 (1,150,315) 1,486,370 736,633
Parochial
Housekeepers'
Pension		 Fund 3,952,779 (3,041,807)
~3,965)		 910,972
~3,965)
4,353,357 (4,196,087) 1,486,370 1,643,640
Restricted funds
Priest Training
Fund		 20,774 (75,291) (54,517)
Endowed
Missions
&Masses		 500 (6,300) (5,800)
Overseas
Mission Fund		 (1,000) (1,000)
Sick &Retired Clergy Fund 15,057 (15,057)
Mensal Fund (6,000) (6,000)
Cathedral
Restoration
Fund		 431 431
Catholic Care ofthe Deaf Fund 759 (3,698) (2,939)
Sensory Garden (325) (325)
Special Collections 207,630 (170,986) 36,642
Albert Gubay Food Poverty 170,595 (170,595)
Barclays Food Voucher Scheme 100,000 (100,000)
NLCF Food Poverty 26,901 (26,901)
HLF Building Resilience 25,335 (25,335)
Staying Together Whilst Apart 138,260 (138,260)
Third Sector Resilience Fund 56,250 (56,250)
WCVA Cultural
Recovery Grant
Heritage Emergency
Fund		 116,667
214,400		 (116,667)
~214,400)
1,093,559 1,127,067 33,508
TOTAL FUNDS 5,446,916 ~5,323,154) 1,486,370 1,610,132

Movement
in funds - continued
Curial
Priest Training
Fund
—for the training
and ongoing
formation
ofpriests
Poor Missions
—for buildmg
and improving
churches
and schools in the		 poor areas of the diocese
Endowed missions
and masses
—donations
and legacies for churches		 and masses
Overseas
Missions - for the support ofmissions
in Africa and S.Amedica
Sick and retired clergy - to support
priests
in retirement
and in ill health
Archbishop
Murphy
-for the training
of priests and laity
Mensal - for the support ofthe Archbishop
Our Lady ofVocations - for the promotion
of vocations to the priesthood
Cathedral
restoration
—donations
for the proposed
restoration
Pastoral strategy - to support
the pastoral
training
ofclergy and laity
Catholic Care ofthe Deaf —to promote the education,
welfare and spiritual		 wellbeing ofthe deaf within Wales
National
Lottery HLF Grant - for the restoration
ofthe Cornerstone
Chapel
Sensory Garden - donations
to provide a Sensory Garden at Cornerstone
Syrian Refugee Family Support - to support a Syrian Refugee family
living
Sea, Porthcawl		 in the Parish of Our Lady Star ofthe
Third Sector Resilience Fund forWales —provided
by WCVA for post-COVID fundraising		 recovery activity.
National Schools Singing Programme —supported
by the Hamish
Ogston		 Foundation to develop choral singing
amongst
young people.
Parochial
Special Collections
—collections taken
in parishes
for specific appeals
f
Housekeepers
pension - for the pensions ofretired parish housekeepers
Sea Mission
—for the support ofthe Apostleship
ofthe Sea
Clergy welfare - funds allocated to support
retired and infirm clergy
Schools development
—towards
the future development
ofdiocesan schools
Campaign
fund - unrestricted
donations
for clergy welfare, cathedral
restoration		 and pastoral strategy
Property
fund - grants to be amortised
over the life ofthe buildings
Insurance
reserve fund - to equalise
premiums
and fund parish
nsk management
Cathedral
development
fund
—for the repair and refurbishment
ofCardiff Metropolitan		 Cathedral
Transfer between funds
Fund transfers
for the reallocation
ofthe parochial costs.