REGISTERED COMPANY NUMBER.. IEngland and Wak$l REGISTERED CHARITY NUMBER.. 1177272 R•ptyt ofthty Trust•es and Fln•nclèl Statement8 for the Ywr End•d 31 M•r¢h 2024 Afchdlow• of¢•￿111 Archdlocese of Card6ff Cortsnts ofth• FinonGial StatsmeDIS for the Year Ended 31 Mar¢h 2024 Pag R•tsr¢n¢• and Admln6Btratfv8 1)8tal Roport olth• Tru$tres 2 to 7 st•twn•nt of Tw$t•M' RMpon$lbIl￿ RerK*rt of tho Independent Audllor5 9 to 10 Stal•m•nl of FIn•￿la1 A¢ll¥RI•• stst•m•nt ol Flnanclal Po•hbon 12 to 13 Stat•m•nt olC•sh Fl 14 Noiu to th• Sla¢•mentol Cash Flrp•M 1S Nots8 to th? FlnanGhl Stat•m•rts 16 10 26 Archdk)ces• ol CardMI Refgrgnce and Administrativ8 Details lor the Year Ended 31 March 2023 Trustees R#3hl Reverend Mark OTool9 Reverend Brian Gray lappoinled 25 January 20241 Reverend Philp Maryhan Reverend John Kelly Reverend Matthew Jones Prior Dav￿ Lwellyn Jane Sh3nkLqnd Dr Nora K*lken 41143 Cathedral RoBd CAROIFF South W•ks CF11 gHD R¢gl$tsrnd ¢omp•ny numb•r EtylaNJ and wa￿$) Rogl•tered charfty number 1177272 Sollcltorn S•lford$ Soltlors J8nn6r Hous¢ la Jen￿r Ro*J Guih1ford Surrey GU13PH Stone King LLP Upper Borough Court IUSBI Umr Borough Wa115 Baih 1 1RG Investment ad¥l$•rs Bie*w) DO￿1￿ Thw¢ Flwr 2 Cernial Squ4 Cardiff CF10 1FS DI￿¢tOr of Schools and Collegos Dlr&ctor of Rtrligioys Edyc*ionlS¢hoohl Property Manager ChSel Operatlng Offlcer Dtvelopmenl M3nageT Safeguarding Coordinator H¢ad of Flnanc8 Mr5. A Roterston Rev 8 Six¢us Mr J Yeoma*) Mi D Evans Or O Collins Mr C MulL8ne M$ S Roblin Page I Afchdl(*es8 of Cardrff Report of the Truslee5 forthe Year EndE(J 31 Mor¢h 2024 Tre Iruslees presentlhÈir reportwith thefinaficl￿ ststementsoflhe chartyfortheyearended 31 March 2024. The Iruslees have adopted the provisions of Accounting ar￿ Reporting ty CharIt￿S Stalwneni of Recofnrnended PraJice applicab lo charities prepafjng IheiraccouD15 in accordancel￿th Il* Financial ReportiNJ siarmla￿ appliubk inthe UK and Republic of Ireland IFRS 1021 (effective l January 20191 Oblectlves and actlvitles The Pfincipal objects of the charity are the wservaiK)n and thane*ment of Ihe Rtynan ColholK larth. •nd Ihe provraion of prmary and secondary education. The ehurch stoks to ¥Ch￿e the fvst ollheso by Ihg lolSM"rwJ fflean$.' To pr¢xlaim the gospel To wor$hip God To lorm and develop paiish ¢wmunrt*s To offer seryKe lo the Iwder ¢ommunty and seek$10 provth pnmary and Se￿n￿lry e￿￿t10ft by.. the [¥￿Ision of catholt 5thooL4 in cfr0p•r¥t￿fi *?Ih lo￿1 aulhorii*S. man8girvJ the8• schooh Ihrwgh th• appothnl of a rnaiorityoffoundaliongovernorson the 9¢veming tr*)d￿s. ensuring ¥ sour#J Roman CatholK ethos maintained In these schwlJ. The Iruglees, $UFgOrted by the boards and coThsuttalNe bod*5. conlinL*alty re¥iow the aims. obJec*ve5 activities lo ensure they support the pnDc1p￿ obj'eclives of the charity The sutte$$ ol each key aaivty 1$ monitofed io ensure they rernain focused on those prIn0p￿ objeclw6s The Irusiees h•¥e referred 10 Ihe guidance ¢Dnia1ned In th? Charity Commis$ion'$ 9ener•l guidance on puWK benefit when re¥**ir¥J Ihe aim6 and owtwes 8Th1 In pknning luluro aGtivrti•s. thu$ *nsuiing that th¢ ¢harty continues ￿ rts slal8d purpose. Page 2 Archdi¢)¢*s¢ tsf Cardill Report of the Trustees forth8 Year Ended 31 March 2024 Achlev•m•nts and P¢rforrnance The Archdiocese of Cardrff ha$. th￿ >*ar. ¢ontifi￿ dilvjentty in it5 to promote the Go$Fel and the Catholi¢ Faith in Scuth Wa*s and Herefordshiie. Ajnongsl many of Ihe regular att￿rt￿s. one s•3nrfKaTht de%*Wxnt h•$ been thai It* Ar¢hdK>rLse of Cardrft and tha Diocese ofmenevia hove been undEryoirvJ a proce55 ofconsul1al￿n %4ilh a Vfdwlo YArf￿all0￿ The proc*ss of con5uM8lkin has involved vanou$slake-ho1ders-Tru510es, employee5. thrgy8nd lay people. in an attempllo CA)l*¢t a$ many different view5 a5 possibK8- whth conlnbuted lo a ¢omprehen$Nt th)sS￿r. The uv* trusts of the Archdiocase of Cardiff and the Dio¢eso of Menevia are C￿￿entlY lookw Into the possibilrty of unthwj ¢Nilly. arky di5CUS5ions are ongoing. As 0$ Ihe e¢xlosia$ttsl bodie5 coming Icg8lheT. Varb)￿ of the ¢uri•l ¢Jep•rtments have boen wothing together *yth the Diocese of Mewdvia. most noiobly the Saleguarding Offtce, and IhL* has proved a greal $u¢¢e$$ A new office sP8tAI for thi5 departmenl was renovated and opened In March 2024 T￿ Communulions and D￿elopment departments have also been worting wlh Merthiia Dioc4se. lo good effect. It is hoped thai lh• San￿ ellectNane8$ wcc4ss ￿11 follow wllh the olhel departm•n15. shouk4 Ihe two civil Iwsts coma t*Jg8ther Anolher aiea whKh has seen colbboraiionwith the DitK450 of Monevia ￿ the c*oitsble br•nth oftho Trusi Adding lo their te3m, they have embarked upon ¥ar￿u5 Chofitèblg proieas, a$ ￿11 a5 5UPPOrting extyling projecls, lo help Ihose m051 in need. In addrtion lo th￿. the Trust has tr￿d lo support avj to Ihe Hoty Land in B particular way, primarily Ihrough fundratsin9 Much provislon has been made lor yOUfVJ people this year. a5 th• Diocesan 'Youlh Couficil. h8$ been very a¢li¥& sir being eslablishe(t lasl year There ha¥¢ been many events. inclu¢Jiry day-ietTeats, a Yh*ekend p1kJrim￿e. and a galfveiing 01 young leadeF5. to •n5ure Ihe conlinuat￿￿ of IhB pro¥i$ion, ond tho import￿1 aspecl of the ￿hd￿￿e'S mission. This year, the Twst pui¢hased Sl Non's thapel and ietieal centr8 In St Day￿.$. Pembr0ke$hire. The tenlre is due lo open n the summer of 2024. onrA renovation ￿rkS are ￿Mp￿ted. St Non's wll provwje a Pla￿ lof people10 visit on relreal or #nd will also host eveni$ org•nised by the Ar¢hd*)¢ese. indudiry a p¢*rimage and a young k8der$' youth weekend. and ¥aFious tBlks and conlerences. Tha ceft1￿ locths sd io re¢ei¥e m¥ny moro pikJrims, and h05t similar events, In the future. olher events organised by the ATthI1￿Se have in¢kJded a pi4rirnage ta Ihe Shrine ef Loufdes. France. an ecumenical pilgrim3ge Ihrough Cardill City Cenlrn. wothing irs Ihe An91iean Chufch in Wales. a week of8waren8$s •nd $UPPOfl l(ti viaim$ ¥v￿l￿r5 olabuae enlit￿d LOUDfence. and varnus Olhor•vortts •fiharKin9 link5Wrth the avic Bnd public sphere. As ￿11 as the fecrurtrnenl ola Iwnew empWe$. • rwi pr￿1 duB to bo ordained for the Archdiocese of Cardiff in tho summer. addiw lo Ihe pre%byterate seNing missYJn One mon ts aL%o duo to beg￿ training for the pr￿sth00d. The Catholic s¢hools within sO￿h Wa￿$ #nd Htréford5hre- anothw mportanl of the woth of Ihe Archdiocese. have cont1nued lo prove popular. and provide eXcel￿Thi ed￿tiOn. wrfh good inspeclion resuhs One of the $¢hool$, the rtsvll of a recent m?Fging of three primary and one se¢ondory $¢hool. provi¢Jing educalion for 3-16-Year￿Id$. 1$ ¢urrenity developing a new Site lo accomrnod8te the %4ttole school. Woth gn thi$ Li proyressinq ￿11 #nd it is hoped Ihal il wll be compkle¢ In 2026. P￿3 Ar¢hdTroc•se of Cardrfl R8port of th8 Truste95 for the Year Ended 31 March 2024 Fundraislng and Develowvrrt In line wrth the charrty's Fundra￿1rrtJ Strategy. Ihe Twslee5 of the Archdiocese of Cardrff reeognise their Trsponsibilrty lo carry out fundraising In ways Ihal are legal, ethKal and con¥slenl wlh a Christian $pirrf tsf genero$ty In this regard, th¢ Develowbenl Tearn work5 lo support Ihe mission ond t))ini*ty ol Ihe Arthd￿se. it8 parishes. and antilias, threugh an aclwe, comprehen$Ne. and profe￿￿)nal piogiamme of fundrasir¥J. Particular 8fferts h8ve been made over the past 12 months to SUFporf Tw$toes in iheir rok* o¥•rwing funOf•i$irvJ. Thl culminaled with Ihe Creal￿n of a 'Fundraisirg Polw,. 'A¢wianr* aThJ Refu$al Qf Donation$ Policy.. 'Fundraising and Vulnerable People Policy and 'FU￿jraL%￿ Comp￿InES Polw. lavailab￿ online ai %wYw readc or Id8velo menl-an ndr ). The ¢harty regIs￿red th8 Fundraising ReguL8lor in November 2023 and has also Signed up 10 the Fundrai$ing Preferenc8 Service lo enab￿ Individuals lo opt oul from receiving lundrai51ng COTrmunicalions 5houkl they $0 wi$h. No $uch requesls have yet been recoNed. Ouring the finart¢ial >*¥r. work prww$sed lo $pre•J Davelownent Services lo the D￿98 of Menevia. Service Leve1 and Dal• Pr¢¢essing Agreements were put In place by the Twstee5 in both charrt*s Io 8hY in this process. Th• Developrwnl l¢am also woiked alongsh1e Iho FinarKe Department to on5ure that Ihe Ar¢hdK)Lxse of Caidilt ie9i$iered with Ihe Lwlng Wage Foundalion. As Arcbbishw Mark exp￿Ined, a$ a're$pon$th empk)yef IheAr¢hdKJ¢es¢ ol¢ardiff need$ 10 lead by xarn￿e Bs cal￿.¢ sooal tea¢hiNJ domanos Ih•l. rf•n org•nis¥tk+n afvd rt. rt $houbJ pay 8 Iwln9 wage lo its 818ff. £e09k was iai$¢d through gr8nl lunthng for Various caprtal 8TrJ r￿eTh￿ projec15. The majority ol Ihi5 fundiry was used lo Impiove charbly's comrnunity halLs and roLWn5. safeguard bc31 heritago ar￿ lackk th• effed5 of food pDverfy 8UOS$ tho diocese. By far the largest recipienl olgrant support Was Sl Ilttyd's Chvr¢h In MerthyrTydfil. A moior pioiect 10 re-roof this Grade11 Listed building. In5¢all solar Pvs and engage the ¢tynmunity has be8n • nolable succas$. Work rollirtg ovt partsh ¢onla¢t*$s catd readers conlinu6d wlh 19 now dislrtsuled Ihroughoul Ihe diocese. Online giviny fundionalily wa$ promoted with è new paitsh resoufce page Ég). Making rt easy fof peop￿ lo show their gonerosty Conlinues to be # core plank of the ¢h8rrty'$ fundraising endeavours. A new ￿gacY brochure wa5 created and pul online Effort$10 ptomoie aN1 develop the Sick and Retired and Pr￿st Training Fund se¢oThJ c4)ntinug(l apac4. flw¢ 8fg now 17 lrnnds of the Sid( and RetK•d Clergy Fund •n(J 20 Friends of the P￿51 Traming Fund. The Tru8l•e8 recogni5e Ihbi th& ￿r% of Ihe Churth is pos¥b* Ih¥nks lo thg prayers, ¥O￿nIeerIng and gener0811y of pari5hKiner5 and $upporters In Ihis sens¥, th¢ Church is much more Ihan an Instrtut￿n Lv bu￿ing8,. il Is the br*Jy of beI￿ver$ who bring h$ mL$s￿n to Iif?. and the TIu5tees are truly gralelul lorall Ithryy gw• Marrlage and Famlty LW• Commh•lon Celebrating and supporting the Vocal￿￿ of MaFrYage remains th6 ¢¢niral fo¢u$ ol all the woth L8one by Ihe Archdioce$on MFL leam. This Is achvdved Ihrou9h ensuring Ihal all COup￿S rnal￿n0 In ovrAr¢hUio¢ese have •¢ce$$10 quality mBrriage prepara1￿￿ 8nd that beyond their *dding tlay. ¢oup* have access lo appropTra￿ support as their m8rriage and family gFOW5 and develops, by enabliw pafi$he$ 10 accompany familvés from birth lo grave. All (sone is done wrth the cooperation ol the ¢lergy. In Pa￿c￿lar the Deans. and Ihiough colL8bor8tKn *ilh 5pecialis1 OTganisalh)ns. e.g. marria90 preparation Is provided by clergy and organisal￿n$ such as Marriap Car•. Swrt Lovin9, Marrlaye Encounier. el¢. Highlpghts of the MFL year include". ThanksgNing Mass for Mamage. A(hent Famity Ad¥enlure was held in Cardrfl Cblhedral. 8nd several Maniage wepar&tvJn days, by lay ¥olunt8ers. have supported upwards 0160 oJup105. %fOSS the Ar¢hdiocese Page 4 Archdloce80 of CardSff Rtport of th& Truste85 for the Yèai Ended 31 Morch 2024 Educatlon Sulj-committee The Educalien Sub£ommitiee has overseen a Wojeta￿h Ihe ain of k¥eserying and deveknping the availability ofcaiholic 51-16 educalion. lollowing the cknsure of a number of hwjh school sixth frrns ￿ recent years. Working In collaboration ilh Calholi¢ tryh sthooL4 across Waks, Ihe Archdiocese's ovm ex¢elkni sixlh-lorni crAège. Sl Day￿.5 taking ading role. a virtualcalholic sixth.fom ColÈge ha5 been established. This TnnovalNe arrangement ha5 enabled schools where courses are potenlialty ufi¥r4bb. lo ietrurt online *arrers from other in5trtutions and has 8150 ensu￿ that a siw huh-qualrty Reluious Education course LS offered to $ludents al all CalhDlr hKJh 5choo15 In th? Pro¥ince. The new That￿nal CatholK School Ins[*d￿n Frame*￿rt. d￿￿ned lo ensure ¢onsi$teoty in Sectwjn 48150 ingP?ction$, has continued lo be rolled wi a¢ross tli¢)¢esan 5th¢>oLs Un¢Jer th8 CSI Frarnework schoolg are a$ses$ed for the quality ef their Catholic lile and mi$$ion. Rel￿￿10y$ EtlUCat￿Tr IRE) and Colwwe *xsrship and all schooLs Inspeded thu$ far have achieved an o¥erall grada of 81 basl'Good'. A re¥ie¥Y ol the Diocesan recommended RE curriculum for schools ha$ been undertaken lo ensure Ihal it meets the requirement$ of the ne%v Re14iou5 Educalion Directory, whKh Will b6 fvlty impkmenled from September 2024 As a result addrtional guhlance on approwat¢ resourc4 maiwi•l has been pro¥￿ed to RE curncJJlurn18•Y8rs. Discussions have 18k8n place lo exp￿re the viabilty of e$labli$hing lormal partnerships with ona er other of the four Caiholic universitie5 lo ensure that CalholK students la*in9 a P¢sigraduaio ieathing covrse could fulfill their te8ching praclrt¢ r¢quiremeni$ ifi a ￿p¢￿an xhoDI ralhor than a d*lanl inslrtu1￿n. Thra ￿Uld ¢n¢oura90 su¢¢*s$fvI students lo apply lor poSit￿n$ *n DwJ¢esan s¢hoDis and ease Ihe cU￿ent short48 of Catholic aF*I￿an1$ An increased le¥81 ofengag8w*nt ￿tISh Govemmertl has lod 10t￿ provk%*?n of8ddilio￿l captsl funding $￿¢if￿¥11Y Inlended 10 addr•$$ majrK fepair and mainlenance wort in schooL8 su¢h 4$ rnol replacemen15 Approximaloly 15% of ¢ioce$an $¢hools ha￿ bBnefillod from these giants during the cuirent yoor Departmeni foi Edusalion funding for mainlenan¢e M)rk 01 ovi Hertfordshirt sth001s i% 8Lkncaled separalely. The long4landing partn8r5hip bet￿eft Calholrc dioceses and Ihe Church in Wa*s lo provide training lor asplflng L•aders in Church schools through Ihe Church Sthool Leadersh￿ Progiammo has ¢onlinued iolo a lourth yaar. with furth81 So M￿d* and s¥nior ka(lef$ lakin9 ￿rt. Many CSLP graduates ha¥e aecjjrod promo1￿n w H•¥die•ther and Oepuly Head posts al Dio¢esan s¢h¢x*b Safeguardlng Sub¢ommltt In February 2024 Iho Saleguarding leam r•bJcated lo a at Ihe re•rofAr¢hbishow Hou5•. This has 8lkn%¥ed • greater $iabilily focus lorthe team. During the year a monlhty Safeguaiding Cafe ha$ been hekl in Cardrff volunleers or of Ihg publ¢ lo meet with the Safeguardw learn and lo discts5s a numter of Safeguard*)g iel¥ied matter5. A decision was taken the year fwit* Safewjardiry leam5 ollhe ArchdD)cese of Ca￿rf1￿nd Ihe Di0￿Se olmenevi to come together lo form a $iw* $hared $ervi¢e Cen1￿ whith wll te based in Cardrfl As part oflhis arrangement, the two stsff members wothing for the D￿c¢se of Meftevff4 be Iransfei￿d under the Transfer of Undertakings IPrcieciK)n of Ernploymenll Regulalion5 2006 (TUPEI to the Aichdvxese of Carddl and the team will provKle Safeguarding 5er¥ice lo both Lli¢¢e$es. Page S Archd{c￿e of Cardllt Report of the Trustees lorth¢ Year Ended 31 Mor¢h 2024 Strategic report FinanGial position The Slalem8nl of FinarK*al AdNrt*s on page 11 $1Th¥8 incomiry resources of £5.466m. an inue85e of£608k on the 31 M8rch 2023 year-end figure of £4.858m Incorne Irom leg3rye5 was £389k compared wlh £365k received during 2023. Donation5 to the charty durin9 Ihe year ￿fe £2,911m an Int￿O$e of E285k on the 2023 r￿Ule of £2,S26m. The SOFA ¥how5 expenditure of £6.325m, an IncTtase of £588k (x)mpared to the 2023 figure 01 É5,737m Included in expenditura is 8 Sum of £1.626m spent on piopeny repaits. The quoted 1n¥eslff*nts made a gain of É608k during the year, alongside gain on the reYalualvJn of investment property of £32dk As a resum the net incorning resources of the th8rity for Ihe y6ar shows a SUTplus of £72k compared with a b55 of£1.401m during Ihe year ended 31 M¥rth 2023 Invostment Policy The Inve$lments ar8 mèn4ed by prolessiJMI manager5. The port101￿ Vd str￿l￿red lo prov*Je income and capital 9rovAh that wll maintain r881 value lo finance Ihe obiecti¥es ollhe tharity. quoi*J in¥estm•nl$ made 8 gain 01 £608k (net of £31k inve$imenl rnanagemeni Charges) ai the bolance $hew daie R•s•Af The tIU5tees' policy is to mainlain Ire• r•sw¥•s•quw4lènito morth'$ iotaJtxp•nditur•. Th& bal•nce shell shows iolal r•5eN8s of £23.106m. TangI￿V F￿1 Assets acc￿￿ fi)r £10.ry)4m of the feserve$, £3.431m ts hekl m fesiricted fund$ managed by the Arehdiocest, and a further £1.361m B hekl In desvjnated fund$. WhiL81 ￿1 currenl assel$1£2,764ml less r¢siricled lund$ of £3.432 reprnsenls 8 defKrt of £666k In mrnedk8tely aVaILab￿ cash res?r¥os, £8.288m inGluded in inveslmenls and In¥eslmenl fund5 are available to be transf•rred into rash al one we•k's notic• ThK% fsure needs lo be Cons￿er8d in Ih•14ht ollhè inoual •xwnditur¢ of E6.325m •nd fvtwe ￿•nfi¢￿ buildiry m•lntenonc• •nd d•vgbpm¢nl. Futur• pl•n• On• of thè main focu$e$ for Ihe Twsi fft 2025 will ine¥rt¥bly be to ¢onlinu¢ the wN¥boralion with the Diocese of Menevia. oking towards a union ofthe Iwo Irusls. The resuNs ofthe currentconsumalion woc*55 will be subrnitted lo Rome in May 2024 and a decision will ltten be made as lo whelher Oiocese5 wll become unrfied As ¥s*11 as Ihis. Iho Archdiore5e of Cardiff will hope lo bu1￿ on the Wofk of this year conlinut in rt5 mis$ion ¢1 promotin9 Ihe G05pel Ihiou9h many and varied rn8an5. The retreat centre al Sl Non's ￿ due lo open in the summei of 2024 fol￿W￿g lefurb1sh￿enI works thal comrnenced in February2024.11 is anliopaled Ihal IheArchdioc•sewll appoini a manageitorvfi Ihe ¢*nI￿ prio[10 rts fore¢a$ied openin9 The charitywill¢onlin￿ lobvi￿j on undwiakentodale in meetir¥J bts oty"8dwes88581 outon p89e 2. No 8ignific8nl change$ In emph?$L8 are oxpecled in the chantys adNiliry8. Charltable Incorporated Op¥nlsatlon ICK)) On 28th Mar¢h 2019. the Ifuslees executed atransferdeed whKh tranSfer￿d assel$. I￿9bIlItya$ aTrJ undertakiry5 oflho Cardiff Roman Catholic Archdiocesan Tiusl lo the Archdiocese olcardrff, cbari18ble IncLYpof8led 0igani58l￿n ICIOI. A vesting dec&ralion $KJned by Ihe Iru$iee$ on 28th Ma*ch 2019 Ihai kgal lrtk lo permanenity endowgd property W85 vested in the CIO, to be IEld on 11$ onginal Iru$ts The ¢10 was app)inled as Irustee loi the Fermanenl endovhment tiUSl$ ond given poY*rs of a trusl C4j￿)ratIon IOT those trust8. Govefnlng document The charitabb inMrpor4ted organ158tpJn ICIOI B eslabl¢shed by a trust deed dated 28 February 2018. The Archdiocese ¢overs the area compiising the local auihorily area5 BTrJgend, Rhondda Cynon Talf. The Vale of GlarDorg8n, Cardrff, Merthyr Tydfil, Blaenau G￿nI. Torfaen, Ne%wort. Monrnoulh$hiTe and He￿f0rdSh1re. In thi$ Ofea IhÈre are 62 parish8S. eomprising 80 Euchari$ii¢ Communit*s, dNKled into seven deaneftes. Th￿ parshes ge03raph￿Il1Y bcat8d m th8 Archdio￿se a￿ owned and operaled by the Bened￿ti￿ Relpa￿u$ Order al Belmont Abbey and are not induded in these nanoal 8talen*nts. Page 6 Archdlocese olcardllf Report of the Truste05 fwthè YÈar Ended 31 March 2024 Stru¢turo and Governance The CIO i% managed by an Unpa￿ boord of tru$tees. meets ffjgukrty. The management of financk81 and legal r05pon5ibilily isvesled in thetruslees Theyafeadvi8ed byprofessK)nal 51aff, Induding voluntary professionaLs and outside con5Urtanls when required The arpointmenl and removal Df tN$tee$ rests So￿ty wlh the Archbishop of Cardiff. The number of iru51ee5 May nol ex￿e¢ and are appointed for their profess￿nal knowwe or for their knowledge •n(I understanding of the aims and obieclive5 of the trust. New tIU5tees are brÈfed on ssues, wocedures and prioriligs on their 8ppointmenl and are urged to familiari8e theMSe￿e$ *ilh tharty commi5s*?n's gu￿anCe notes and updates on the duties and ie5ponsibililies of chanly Iruslees The tru$tee$ are as$151ed in ltte dLscharge oftheir responsibl1rt￿ by lo1￿"n9 l)04rts •nd ton$u#atw• bodie$'. Schools Sub¢ommittee Ssfeguarding sU￿cOMmI18¢ Cler9y Welfare Board Finance and Pioperty C•mmthe Investment Sut*Cornmittee The work of thé EdUcat￿tin Su￿0MM￿le* aTrJ Ihe Safeguarding Sub£omrnrtte¢ 1> hohhghled in the report. These grotsps make ￿¢0￿Me￿I8th)ns 10 Ihe ITu$ie¢$ on pnorit￿ and strateg*s and are iesponsibte lor managing impkrnenlalion of approved slraleg*s Members are a mixture ¢1 ar¢hdk)ces•n empbyeos and wolunleers app01nled by the Archbishop for their expertise of their suwt The EducalK￿ Sub-Commrt*e. the Safe9uarding Sub-commiltee and Ihe Investment Su￿CC￿￿1l10e are chaiied by trustees oltha ArdtrJ￿ In addit￿￿, the truste¢$ and bo•rds, through the Ar¢hbi$hop. consuft Iwdvtywith Iho C￿￿9? of Consullor5 and Coun¢4 of Pr￿SIS whose re%pon81ts1iI￿ ar¢ defined by Conon Law The pastoral oversghl oflhts charity i5 Cond￿lert by Ih•Archts5hop ￿ reguiareons￿at1On wjth the CoHey olConsuttar$ This body, ¢onsi$ling olsenbr der9y, as$ist$ the Ar¢lthhw in all ￿￿￿n8 affeclitYJ Ihe Dvx89e. The Coun￿1 of Prie51s mee15 pemdulty wlh Ihe ArCh￿hOP lo dB¢y$$ orKI yi¥e advic* on a w¥Je range of i5suos. The CounGil ts composed ol tkryrgy represenliry eac* of so¥en dgar¢erEs Iowher other senioi di￿Sart clergy and pre$enialive$ ollhe feh)iou$ ord￿1 in Ihe d￿￿8•. Al parish level. Ihe parish pnest 18 responsible for all aspe¢ls ol iunnin9 hts pari%h Partsh pr￿115 are not ernployeos.. in HM Revenu• and Cuslorns lerms they ale Hohjers ol Relvap)us Office and 8$ agents lorthe Tru51•es in all bul the purchase disposal ol pioperfy and investment assets. Each pai¢sh is required to have a finAnc¢ ¢omrniiiee th81 meels per￿diCallY 10 $UPPOrt ond advw Ihe parish prie$1 on Ihe top￿S ol finance and proreriy A Parish Adminislralion Manual has been r&8ued by Ihg to Polis￿$ •fi6 foms Ihe ba$i% olgood parish fin8nckql controls. Audltors The auditors. Hiirn5 Watts Wakn LLP, propo*d IOT re-appJinthwnl ai lorthcomiNJ Amrtual General Meeliw. Report ollhe trustees, incorp0￿m9 a str*eg¢ reptyt. aFwoved by order olthe board ol Iru51aes, as the o)mpany Irec￿r$. on 30 J•nuary 2025 8nd $wn•d on the boards tehaff by.. Ar¢hbi%hop- Mo$1 Rev Mark OToole TFU5te8- Ja e Shankland Page 7 Archdioc•se of Cardrff Statement of Trusteos. ResponslbS1iti85 for the Year Ended 31 March 2024 The tn151ees are responsibk for prepariry Ihe Report of the Tty$1￿ and IhÈ financial si•iefflents in •¢¢Ofdance with applicable law and United KingdDmAccounting Standards Iunttad Kingdom Generalty Accepl8d Accountjng PractKel. The law arplicable to charit￿5 in EThJland and Wa*s, Ihe Charit*s Act 2011. Charity IAccwnls and Rwrtsl Regulations 2008 and the provi$K)n5 of the trust deed require$ Ihe Iru$tee$to prepare finanoal $taiemenis forea¢h financol yearKthi¢h 9ive a twe and fair v*w of Ihe $tsie of aifair$ ef the ¢haiity and of the In¢(ming iesource$ and appli¢aiK)n of resources. Including the Incom8 and eX￿nd￿￿re. of the chanty fcrf Ihal perK#J. In Pfeparw¥J those financial statement8. the tru51e85 are required lo.. 5ekncl $Urtabl• a¢counling pok*s and Ih&n apply Il*m e¢Jrts$*rtty. observe the rrMJlhod5 and pnncyle5 M the Charty SORP, makejudgemenls and est￿aleS Ihal are reasonab￿ pwdent". prepare the finan￿31 5tatemenls on the going ￿Ceffl ba5B Unle55 it * inaFpr¢)pri*te to pre5urre that tho tharty 11 continue in business. The Iruslees are re5pon51ble for keopiry propjr accounliry records whth di5tkn5e ￿1th rea50nabkry accuraGy ai any lime the finanGial ptssrtion of the ¢harty and 10 enab￿ IF*m 10 eThsu￿ Ihal the finat)¢Aal st•iemenis comply with the ¢harrt*$ Aci 2011, the Charity (Accounts and Reportsl Regulaiion$ 2008 and the provis￿￿9 DI the Iwsl deed They are a190 $ponsible l¢1 saleguarding the assets ol th8 charrty and henc* foi la*iw leasonab￿ steps for the Prevent￿}n and detec1￿)n offraud Bnd other iThegUL8rIt￿. Approved by the eo•rd ¢fTwsle•s on 30 January 2025 •nO yJr*d OA Is t¢h•M by.. Arehtx'shop. Mo$1 R•v. Math OTMI Page 7 Report Of￿ Independent Audliofs to the Tn￿te88 of Archdiocese ol Cardift Qplnlon We have audited thÈ finantsal slatements of Archdh)tÉse of Cardrff IlhÈ 'tharitsNe ujmpanll for the yeaf ènded 31 March 2024 which comprse the Slalement of Finanfaal Athitw. the siatemÈni of Financ￿1 Position. the Statement of C85h Flows and notes lo the finanoal stalemenls. IndL*1in9 a summary of signifrtant accounting pol￿￿5. The financial reporting frarnework that has been appl*d in Iheirpreparalion LSapplrab* lawand United Kirydom Accounting Standards (United KirvJdom Genera1ty Accepled Accountir¥J PraclKel. In our opinion the financial statements give 8 true and fair W￿W of the slalo of the charlat48 cc4np8nYs affairs as al 31 March 2024 and ol its incomsng resovrce5 8nd appI￿allOn of re50urce5, inclL#Jiry rts Income and ex￿nd{l￿re, for the year then ended." have been property prepared in •c¢ordanr* wlh United Kirwom Generalty Attepied A¢¢ounling Praeti¢¢,' and hav¢ been prepared in aru)rla￿ with ￿ iequirements ollho Charl￿$ ALX 2011. Basis for oplnlon We conducted our audit in aCco￿anCe wih Int•mal￿n81 Standards on Authw IUKI IISAS IUKII and aFpl1￿b￿law. Our 1•5ponsibilitvas under those standard5 are lurther described in the AUdrtO￿. respon5011rt￿ for the audil of ltte finaDGial $latemeni$ se¢tK)n ol our report. We are Independeni ol Ihe tharrtaiAe tL)mpany in ac£ordanGe %Mlh Ihe eihie31 reouiremants that a￿ rdevanl to our audit ofihe finanrjal slalements in the UK. including the FRC'$ Ethical Strnd8￿. and we have fulfil￿ oui other elhic41 iesponsibilrtie5 in accoidance ￿1h these 18quiremenls. ￿ beI￿Ve that tha audit •viden¢e ￿ have obtained is suffic￿nI and Oppfopriate to 8 bas15 for our wnv)Th. Con¢lu$lon• r¢l*lno to #olng ¢on¢•m In oudiling the Iinanual $iaiements. haw ¢ondu(led th¥1 tn¢t•M' use of Ihe golrg concem b•$i$ of a￿O￿n￿n9 In thè preparation olthe finanual 5tale¢rnnls appropriale. Based on the work ￿ have performed, have not bJentrf*rf any malerial Uncerfaint￿S relating lo events or conditions thai. indwidually or ¢ol*cti¥ely, may ca51 $4nrftant doubl on the tharitsb￿ wmpanY5 8bilily lo ￿nIInue #s ¥ going COn￿1n for o pertod ol al ￿•$1 month$ from fin¥rKwl $talem¢n¢s outhor4od for i$$w. Our respon8ibililies and the iesponskni1rt￿ of lh• tsu5tees resFod lo concarn aro dascnbed in the relevant Beclions of thi5 report. Olhgr Inform￿0Th The Iru$tee5 are re8pon5ibk for Ihe olhèi inlorrnat￿n. The oltw inf0rnal￿n compri58s the inlormat¥Jn included in the Annu81 Report, other than the finanttal Slaiem6ni$ and our Report of Irthperthnl Audrfor5 IhereoTh. Our otynion on th6 fInar￿al slalements does not eovw the other inlom)al•)n and. excepl lo the ektsnl olh8M$8 expllcilty slaied in our report, do not ex￿￿ any lom ola8sUrnn￿ conduS￿n ther80n. In connect￿n with our audrt of the financial siaiem•nis. our rosponsibilty is to read the other inloTm8titsn and, in doing $0, $ider whether Ihe Olhei inlom)alion maierialty In¢onsL%ient wrth the finonrJ81 $iaiements or our knowledge obtained n the 2udiler olheN4L8e appearslo be malenallymissialed Ifwe hyenlrfy such material IncA)ns1slencies orapparenl malenal misslalemenls. we are Fequifed to delermine whethei this gives rise 10 a material misstalemenl In Ihe finanoa1 slalemenls theMse￿OS. 11. based on the work ￿ have pertormed. ￿ condLKlo Ihal there is a rnalerial mis5tal•mont of Ihi¥ olher informalion. are requtred 10 Ihai ia¢i ￿ has* nOlhirt9 10 report in Ihts regard. Mattern on which we are requlred to report by exception We have nothing lo repori in respect of the followng Matte￿ where the charit￿ (Accounts 8ThY Report81 Rogulalions 2008 requires us lo report lo you if. in OUT opinion the inloima1￿n given In Ihe RekX)rt ollhe Trustee$ is in¢on$i$*ni in any maierial ￿SpeCI with the financial $talemeni$', or the charitable company has nol kept adequale accountiThJ iec4JTds'. or Ihe finanaal slalemen15 are nol In agreement wlh the accounling record5 and relumi.. or we have nol receive(J all Ihe Inlorrnal￿)n ar￿1 expL4nalw5 we requim lor our3udrt. Responslbilities of trustees As explained more fulty in the Slalemenl of Tiuslees. RespOnsibth￿$. the Iruslees (who are also the directors of the charitable company for the puwse5 of company Wl are iesponsib* for Ihe pieparation ofthe finanryal slater￿n15 and for being sali$fied Ihal they give a Iwe and fair v*w. and for such iniemal Control a5 the Iruslee5 determine is ne¢e5Sary tv Enable the pFeparat￿n ¢f Iinan¢ial statements ihat are free from maienal rnisstsiemenl, whelher due to fraud ¢r error. In prepariry the financial slatery%n15, thetW5tee5are respon5ibl&lorasse551rvJthe charitablecompanlsabilily lo continue a5 a 90ing contem. di5cbsiry. as applicabk. matters re￿Ied to going rorvm and u51ry the going concern ba515 Of accgunlirtg unless thÈ tru$iees either interK1 to INu￿atÈthe ¢haritable cwany or lo ￿8$e operations. oi have no reali$lic ahernalive but lo do so. Page 9 Rèwt ofthe Indwndèni Avditors 10 the Tntst8es of Archdlocese of Cardlff Our re5pon$ibllitie5 for th*audil of th¢ financiol $tstem¢rrts We have been appointed a$ audrtors under Section 144 of the Charit*$ A4 2011 and ￿pOrt in a¢¢Ordan￿ ￿1h the A and le￿¥2n1 regulabDns made or hal￿n9 effed thereur#Jei. Our obsective5 3reto obtain r8asonaNe assural￿e *)oul whettsrthefinanoal slatem￿lS as awholeare free frorn material misslalemenl. whether due lo fraud iy *￿tsr. and 10 L%5ue a Report ollhe Independent Auditors thai include$ our opinion. Reasonable as$uFan¢e Is a high le¥el of assuiance. bul ts nol a guarantee Ihal ars audrt conducted In aecordanc8 ISAS IUKI %MII a￿ayS detecl 8 material mssslatement when rt exists Mtsslaleff*nts can anse from fraud or error and are considered material if. indivti#ually or in the a99regale, they could reasonabty be exFected to influence the eMThom deci$ions of users taken on the basis of these financrol siafrmenis The e*enl to wfiich our pro¢eduw aty ¢4pabk old¢t6th"ng irreguLgfitW. I￿¥thr￿j fraud B delaikd below. Our planning procedures Idenlifythe lagal and regulatory fraff*works applicablelolhe opeiallins and finana815talemenls of the charrty. These are re¥￿d internally wth the au¢Jrt learn including le￿want industry eXPer￿nce and e¥pectslions 85 ￿11 a5 exlernalty wlh the dienl manage￿nI. The key la*t and regulabons * ¢on$thred In tho ¢vnIe￿ were the, Charit￿$ SORP IFRS 1021 'A¢¢ounling and Rekx)rtin9 by Ch•rrt*s slaten￿￿ of Recomft￿nded Pra#ir* èppli¢able to tharities piepanng their accounts in accordance wlh the Financk81 Reportiry Standard in the UK and Republic of Ireland., UK GAAP ancs rek8Yanl tax 1egLSlat￿n on￿ ideniified, assess the r•k$ ol material missta*menls kn r¢Wth) to t￿ l•ws •nd reguL4li¢n$, *regul•iitiM. Sncluding frau¢ and a¢iu$i our i&$lry actoidingty. Our audrt pro￿Ul¥S inclu Oiscu$$ing wilh Tfuslees and management ￿1¢h areas of the busines8 Ih8y b818¥* to be ￿r9 sU$c6￿.ble to fr8ud. and wh8lheF they have any know*th3e or suspicion of fraUdU￿nI aclwrf￿S Oblainin9 an Unde￿¢andIng ofthe key control$ put ￿ p*e by the tharty to address r*k$ ¢eOirf￿d. a$$ès$in9 the eif•¢ii¥eMs$ 0fth0￿ and disc￿$￿9 how Ihese afe maffi￿lThed and mty)rttyed iN¢rn•Ity Asse$$ing the ii$k of m¥n¥9em•nt overrKle and ￿VIeW ¥nd le$￿ty of journal entrles mad• Into •c¢ounllng system Discus5irrfJ I￿1h Tru5tee5 and manageronl lh• ￿81 and wegulalory Obl¥at￿l￿ of the busirnss #nd whether th•y ha￿ any knv*fedg• Of ¥Usp￿￿n ol fv)n eomplu?nrJJ. Desp￿8 the audrt being planned and conduded In aCc￿ttanCe wlh ISAS IUKI Ihefe rem81ns an una¥oidabk8 risk th81 material m15Stalernenls in the finana81 slate￿nIS rnay nol bo delected owing lo inherenl limitations of the audil. and that by their v•ry n•lure. any $ueh insian¢e$ ol fr•LKI ty wre9u￿￿••s l*ety ¢fjluswJfi, forgery. Inienlion•l mi%repre$enlatK)n. or Ihe overNJe ol ￿ternal ¢onlr¢ A further descrplion ol our re5pon3ibl1l￿$ for the audil of Ihe fi￿At1•1 siaiomonts ts b¢aied on Fin8nual Reporting Council's web$rte 81 Irc ory.uklaudrtorsrespons1bilrt￿ Thi$ descrwiion loms p•fl of oui Report oflhe Independent Audrtors. U80 ol our report Thi5 reporf 15 madé sokty 10 Ihè thaniabje ¢ompan¥$ tivstses. •$ • bth. in valh Part 4 of Ihe Ch8ri1iè$ IA¢¢ounis and Report$l Regulations 2006 Our aLK1rt woth has been undertaken so that we mvjhl slate to the charitable mpany's Iruslees those rnallers wa are required lo stale lo them in an 8udflors' report and for no other purpose. To Ihe rulle$l extent permrtted by law. do no¢ accepl cr assu￿ responsi￿.IrtY to an￿ne other Ihan the charitab* company and the Charitab￿ comp8nls trustees Bs a bojy. for ow audd ￿rk, for Ihi5 rèport. or for Ihe opinions we havè foTmed. Vicloria Carter ISenTor Slatulory Audflorl Is elig1ble lo act as an audrtor In tern5 of Sectson 1212 of the Cry8nN35 Ad20C6 Foi on behalf of Hairtt Waits Waks LLP. Statutory Audito 7 Neptune Court Vanguard Way Cardiff CF24 5PJ Pa&e 10 ArChdic￿e ofcardilf Statement of Finan¢ial A¢tivitios Ilncorporatlng an Incc*x8 and Exp8nd6tur* Accounti forth? Year Ended 31 March 2024 2024 Total fLtnds 2023 Total fund$ R•striGtfjd funds Curfal Parochla Nots5 In¢om• •nd endowments fro Dcnalions ond *gooes 53.385 3.093.318 537.0 3.683.799 3.419.391 Charltablo actl¥itl8S Charitable Aclwilies 132.511 720,409 88,315 941.235 633,38> Other Ira¢k)g a¢tw￿leS Inveslmenl in¢ome Other income 84.no 237.1x6 486.197 5.237 28.LbJO 570.967 242.303 555,561 249,522 Total 507.731 4.333.161 625,411 5,466.304 4,857,863 Exp*ndltur• on Aaisino funds 5,647 34,453 34,301 Charltable actlvlt1•5 Charitable Activit￿$ 1,979t15 3.645.444 666.396 6.290,955 5.702 933 Tot•1 3 674 250 8 325 408 5 737 234 N•1 gaIn￿lIa$S•$I on #i¥e$iments Gainsllk)$ses ort i•v•lv¥lion of 0$88ts e07,501 324.409 607,501 324.409 1521.49SI NET INCOMEIIEXPENDITUREI 1545.1201 658.911 140.9851 72.8C6 11,4LKJ,8671 Reconclllatlon ol fund• Total fun¢Js brought lo￿ard 12.605.515 6.953.8( 3.472.887 23.033.208 24.434,075 rotal lund8 carded forward 12 ffi1395 7912717 3.431902 231C6014 23 033 208 The notes fomi part of Ihese finan¢yal $tal￿ents PagB11 Ar¢hdi¢>¢èsÈ of Cardlff ststement of Financial Acti¥iti85 1lncorporats.ng an Income and Expenditure A¢couoti Cornpar*ivo Statement of Financial Acttvlli¢$ Re51ricled nd5 Tolal fvnds Curial Parrxh4al Income and ondovnnents frtyn.. Donat￿￿$ aNJ lega¢*s 25.535 2.871,319 522,537 3,419,391 Charitable Acl1vit￿5 139.854 402.349 91.186 833.389 Other Iroding 8di¥ilies Investment Income Revaluat￿n of assets .870 244.259 464.691 5.263 555,S61 249,522 Total 500.518 3.743.622 613.723 4.857,e63 Exp8ndlturo on Raising funds 5.318 28.983 34.301 Charrtabb A¢li¥rt 1,963.895 3.1%.645 582.393 5.702.933 Totsl 1,969213 3.185.628 582,393 5,737.234 Nei gainsllbssesl on Inve51ment8 5214961 5214961 NET INCOMEIIEXPENOITUREI 11.990.1911 557.994 31.330 11,4f¥J.6871 Reconclllatlon of fund* r•tsl iunds brought lO￿ard 14.S96,7C 6.395.812 3.441.557 24.434.075 Total fund8 caThled lo￿ard 12606515 6.953.8C¢ 3.472.887 23,033 208 The notes forn parl of Ihese financial statements Page 12 Arthdioctrse of Cardilf (Rtgistsred numlxr.. 11772721 Statemènt of FSnancLql Posrtlon 31 March 2024 2024 Total lund$ 2023 Total fvnds Curial Paro¢hial Fixed a55ets Tangible 355els Inv¢$lm8nts Invesimenls In¥eslmenl property 10.C4)4.346 10.LX)4.348 9.494.941 10 8.287,839 2.050.c￿) 8.287.839 2.050.(M)o 7,680.338 1.650.000 20.342.185 20.342,185 18.825.279 Current •Mets Cash 01 bank a￿1 in hafyl Deblorn 1,361.282 591.644 1.(rfJO.912 2.362.194 591.644 3.661,016 885 058 Total Assets 1,952.926 1.OC#).912 2.953.838 4.326,074 CrBdlttsrn Amount$ falling due wrthin ofie year 13 119J.IX91 19).009) 1116.1451 Not current a85ets 1.762 917 l.(knJ.912 4 207 929 Totsl ••s•t• kn•$ ¢urrnnl 22.10S.102 I.1)CO,912 23.IOS.014 23.033.208 Inter Fund 8oline 14 16.271.5231 6.271.523 NET ASSÈTS 15833579 7 272.435 23 1c6 014 23.033 208 Fund8 UnreslrKled lunds Restricted lund5 1$ 12,(k81.39S 3.162.446 7,612.717 269.456 19.674,112 3.431.902 19.560.321 3 472.887 Total lund& 15,223,841 7,882.173 23,106.014 23,033.208 The finanthal slat•m8nl$ *Tr• appro¥•d by Iht 8oard ofTwsle8s and aulhtirised for insu• on .. and *ere swed on ts behall by.. Ar¢hb￿hop- P1051 Rew. Mark OToole iuslee Jane Shankland The notes forni part o111￿ financial stalemenls Paye 13 ArchdictoT$ Deblor$ are $taled at Ih•ir tran$adb)n Its5 any pr0VpJ￿n fcrf non rttovernb19 4TrvJunls Cash Cash balance5 are slated al their ￿ar •nd r•cowbd amounls whith t¥ke 4ccouni of y•ar ènd Iraniadions Ihal will ¢*or th¢ bank wi yèar Or￿. Credllors Creditor5 80 5t818d 81 Ihew transac1￿ prK•. Donatlon• •Thd Iy¢l•s 2024 2023 Donat￿n$ Gth 8k1 ￿Ceiv8 LegacAes 2.910.748 384,194 388,857 3,663.799 2.625,839 426,487 365 265 3,419.391 Intom• Irtsm ¢harftabte actlvlt 2024 2023 ACtiv￿Y Charitable AC￿¥￿ie$ Charitable Aclivrtie5 Charitable Aclivilies Ch•tilab￿ All1v￿e5 Grant received Commi55ion Surtdry InGome Courses and counselv)9 808.724 24.320 69.483 36 708 493,535 26.322 68,501 45.031 941.235 4 625.034 4.052.780 Page 17 continued. Ar¢hdio¢¢s* ¢)f Carylilf Notes to the Financial Statements- continuod forthe Year Ended 31 March 2024 EX￿nditUr• Inot¢ Sl Allocated Support Diw¢t Personnel Dlr8¢1 Premlses Direct Total 2024 Totsl 2023 Charltabl8 Actl¥ltl8S Provision for Worsttip Mini51ry Support Pastoral & Communty Education Raising Funds 1,C#)5,734 76.136 2.930,489 201.673 124.286 722,222 504.699 162.795 58.174 403.236 5.C61,681 85Q.870 312.139 63.256 3,010 4,115.399 767,745 634,e71 161,536 3.619 25,078 5.082 3.010 1.081.872 3.256.527 1,447.891 504.765 6,290.956 5,702,970 Ralslng Funds Appeal ¢o$ts 34,453 34,301 34.453 34,301 1 081.872 3.256.427 1.447.891 504.765 6,325.408 5.702 970 S. AllocJt•d Support Cos Provlslon Pastoral Mlnlstsy Support R•l•lnq Fund• Tot•1 2024 Tol¥l 2023 Wornhlp Cornmunmy Educatk GO￿rnan¢• Finance Inform81ion Technology Premises Cosi8 Human Re50urc•$ 36.775 41.080 8.177 459 513 272 45,950 51,328 144,872 47.758 2.531 41.958 60.81S 222.618 2.585 3.746 13.947 524 759 2.827 301 450 1.674 52,413 75.988 279,086 49.140 66.020 239.599 10.216 38,020 403.236 25 078 5082 S04 76S 547 389 I￿95tment Incom• 2024 2023 ArisirvJ on guot8d inve51¥n8nt5 242.303 249.522 Py18 Continued... Archdiocw&e of Cardiff Notes to the Flnanclal Statemènts. ¢ontlnu•d lor the Year Ended 31 March 2024 Staff costs Th• average of total empbyeos (not ful twno equNa*ntsl of the A￿￿￿10C6s• during the period and their aggregate emolvmtrnis are Sh￿ bel¢)w. 2024 2023 Staff Costs Cvria Pari$he$ li￿. C*igy Aknncesl 1,074.967 523.966 866.235 523,653 1598 933 1.389 888 Allocated HR support staff costs Includlng In abow.. W8ges and salaF*5 Employ•ts' Nl 241.968 37.118 204.857 239.599 The average mottlhly number of ¢mploy•M during the ye•rw•s a$ follow&. Departments Parish 2Q24 23 15 2023 16 42 In oggregale. 6 key m8nav￿￿nl F4rnonnd rKei¥ed remur*ernl*)n lotslling £396.04412023." t312.2631. The thurn￿r of•MpWe$ Ytho* eryl¢)yee b•Mffts l•xchJth'ng empl?￿ cos¢81 exceeded £60.000 2024 2023 £60.C#)1 . £70,riJo £70.001 . £80,Q)o £80.001 - £￿.CPJO Trusie88' rnmuneratlon and benelhs There wew no trust￿. iemuner¥iion orother benefits lor the y￿1 erthd 31 M8rds 2024 nor for the year ended 31 March 2023. T￿$100%. expens•# T￿re were no trustees. expenses Pa￿ forthe year eThleO 31 M•rth 2024 nor for yèar ended 31 March 2023. Page 19 ainlinued... A￿hdi1Xe￿e of Caydrfl Notes to the Flnanclal Statements- contfjnued for the Year Ended 31 March 2024 Tangibk fixed assets Freehold Land & Bulldlngs Fumlture & Equlpm8nt Tots55 Cost Al 1 April 2023 AddrtiDn$ Tlansfei from investwtsnl pmpety Al 31 March 2024 16.221.375 461.209 310.CA)O 16.992,584 85.266 30.775 16.306.641 491.984 310,000 17,108.625 116,041 Dopreclation At 1 April 2023 Chaige fol year 6,731.341 80.359 6.811,700 292 579 At 31 March 2024 7.022.284 81.995 7 104,279 Net book ¥aluo Al 31 Mar¢h 2024 9.970.3 10 004 346 Al 31 March 2023 4.907 The Archd￿ce￿ ¥lso o%¥n6 a n￿ter ol proF4rtw. oro 0￿P￿d and run ty ind¢￿Tr￿n1 ¢h4riliei in th¢ loim ofvolunlary AkJ8d S¢hooL%. The Trnstees con$K1er that these propertN8s h8¥e no c4pilal value lo the charity. see Ihe accounting policy for T￿ngkn￿ Fixed Ass•ls A 115t of the schook in the Arthdiocose is Sel oul on the Oioeesan ￿bsrt•. All fixed assets are used in dffecl furthwarKe of lh8 CharK*8 Otyds. 10. Flx•d Inv•iim•n QLboi8d Unllsled In¥estmertA Invo•tments Total Market valu8 Al 1 April 2023 Gain1llo￿l on In¥eslm¢nl ypar 7.676.338 4.ty)0 7,fj80.338 607.$01 At 31 March 2024 8 287 839 Not book val Al 31 Mafch 2024 8.283.839 8.267 839 Al 31 Maffjh 2023 7.678.3$9 4,OQJ 7,680,33e All Quoted inve$tmeni$ Ioiher Ihon ushl a￿ qyoied on a reoyjntsed UK Slod4 Ex¢h•*vJe or •re valued ty rglergnce lo In¥eslments listed on a ieoJgni8ed Sloc* ExchaThJe. Paye 20 continued... Archdioc858 of Cardiff Notes to the Financial siatements- continu tor the Year Ended 31 March 2024 In¥estment prope Falr Valu• Al 1 Apnl 2023 Additions Revaluation TransfeT io ffreeh0￿ prowrty At 31 Marth 2024 1.650,000 385,590 324.409 3100DO 2.050.WO Falr value Al 31 March 2024 2 050 000 Al 31 Marth 2023 1650 000 Fair v8luo at 31 Mar¢h 2024 k4 rnprnsenied by.. V•lu•lion in 2024 2.050.000 In¥e$lff*nl propgrtyw•$ v•lL*d on an m•r*¢l b•sis OA 31 Marth 2024 by Herbert R. Thcmas. 12. Debtorn 2024 2023 Amounts lalling *￿h1n ono J*ar'. Olher deblors Un5ecuFed conrAsI￿n8ty ba lo priest$. Otc. 2C6,421 260.798 7.480 267315 Amount$ falllw due 8fter more Ihan ￿or. 01tt8r debtors 377.743 397 743 Aggregale am￿nts 591,644 665,058 13. Cr8dltor8.' amounts lalllng due whhln on8 y￿r 2024 2023 Olher c￿li0r$ Short Tefm Loans Accrued expaThse8 175,209 700 14,100 103.345 700 190.009 118.145 14. Intsr fund balan¢ 2024 2023 Parish Oep05it Accounl5' P#ri$h Loan Acwunts 7,569.045 1.297 5221 8.$45.565 1,560 4221 8.271 $23 4,985.143 P898 21 conlinued.. Archdiocese of Cardiff Notes to tho Flnanclal Ststements- ¢ontIn￿l for the Year Ended 31 March 2024 15. Movemnt in funds Net movement In lunds At 31.3.24 At 1.4.23 Curial general Housekeeprs, Pens*Jn Fund Sea Mission C￿rgY Weware Fund School$ Developrr*nt Fund CaMPa￿n Fund Propety Fund Insurance Rese￿8 Fund Cathedrè￿ Oevelotyrtefii Fund Total cunal 11.224,930 183,843 18.397 70.239 196.768 659.837 107.261 24,240 1545.12Ql 10.679,810 183.842 18.397 70.239 196.768 659.837 107.261 24,240 120.000 12,060.395 12.605.515 545,120 P8rochKg1 6,953.8C6 7812717 Totsl Unr•strfct8d 19,559.321 1113,7911 19.673,112 trlcted f Priest Training Fund Poof Mi$$ion$ En¢jO￿*d miss￿$ & Masses 0￿r5e8$ M15sion Fund Sick 8 Retired Clerqy FUNI Ar¢hbi$hop Murphy Fund Men$al Fund OUF Lady ol Vocations Fund Cathedral Re510rat￿n Fund Pastoral Slraie9y Fund C•tholi¢ co￿ pf the De4lFtsnd Sensory Gaiden Syrian Refuge• Famity Support Specia1 COlkryCt￿Ds Third Se¢lor Aegili¢n¢e Fund WCVA Cultural Recovery Gianl Nation81 Schools Siroing Programm• wor￿ Yothh Doy Ukrain8 Famity Rel￿¢ Fwd 1.128.372 746.240 59,gJO 75.073 205,381 624.533 52.5ts6 2.713 7.520 21.610 202.543 7.899 6.851 290.416 13.110 17.794 1,144.168 746.240 59.900 75.073 205.381 624.533 52.5e6 2.713 7.901 21.610 202.158 7,059 381 13851 18401 18.0001 120.9611 111.8461 11.6C(11 15.5181 16.8291 269,456 1,264 11.6001 19,482 13.8391 25.llC4] 2,990 2149 Total Re8trlcted 3.472 887 40.985 3 431902 TOTAL FUPIDS 23.033 208 251,6031 22.781605 Page 22 continued... ArGhdto¢•s¢ of Cardilf Notss to th8 Financial StatemeTrts- contfjnued for theyeaf EThded 31 March 2024 15. Movement In fund5-¢ontlnued Net movement in fund5. Miclud8d in the ab￿ are as folW.' Incoffting Resources rn5¢)urc•s •xpBnd•d Galn8 and 1055es Movem8nt In funds Llnr88trlct8d fund8 Cunal Paroch￿1 507.731 4.333,161 11.984.7621 3.674.250 931,911 1545.1201 4.840.892 15.659.012) 931,911 R•strl¢t•d fund• Piie5t fiaining Fund Sid< & Retired C￿rgY FuThJ Cathedral Restoration Fund Catholic Care of the Deaf Fund Sensory Garden Syiian RelL￿a F•mity Swrt Special Collect￿n6 HLF Building R•5ilKrK* Tnird Sedor Resi1￿n¢6 Fund IIVVCA cultural Re¢owy Gfanl National SchooL8 Singiw ProgronN Worh8 Youlh Day UKRAINE REFUGEE FAMILY FUNO 63.093 69,019 381 1.095 145.2991 169.0191 17,794 3B1 13851 18401 18.0001 120.9611 11.4801 18401 18.0001 1398,3251 143.6471 111.8461 11.fj001 15,5181 177.6411 377.365 43.647 111.8461 11.6001 15.5181 16.8291 70,811 625,411 ee6 396 40 985 TOTAL FUNDS 931.911 72 8081 Pa9e 23 continued... Archdloc88e of Cardfft Not85 to the Financial Statements- conbnued for the Year Ended 31 Mar¢h 2024 15. Mo¥*m¢nt In fun¢ts Net movement In funds At 31.3.23 At 1.4.22 Un tilcted tund8 13,212.017 187.947 18.397 70,239 196,768 659,837 107,261 24,240 120.rA)o 14.596,706 11.986.0861 14.1051 11,224.930 183,843 18,397 70,239 196,768 659,837 107,261 24,240 120.000 12.605,515 Housekoeper5' P•Th$￿n Fund Sea MLSsion Clei9y Wewère Fund S¢hool$ DeVelOp￿nI Fond Campa¥Jn Fund Propety Fund Insurance Reserve Fund Catheilral Developr￿n1 Fufid Total Curi81 Paf¢chK•l 6.395.812 557.994 6,953.8Q6 Total Unrostrlctod 20.992.518 11,432.1971 19.￿9.321 Prosi TTainillg FuThJ Poor Missions EndMd M155ion5 & Masse5 Overseas Mission Fund Sick 8 Rèiired C￿r9Y Fund Archbtyhop Murphy Fund Men581 Fund Our Lady of Vocalions Fund Calhedral Reslor8tDth Fund PaslOf•l sir•iegy FunLI C8tholK C81e ofthe DealFuTrJ Sen50ry Gaiden Syrian Refugeo Famity Support Special Colle¢t￿n$ Thlrd Sector R¢8ilr¢nce Fund National Schools SingirrfJ Proyramm• Workl Youlh Oay Ukraine F•mily Rel￿e Fwd 1.119.8 746.241 59.9QJ 75.073 205.381 624.533 52.586 2,713 7,Q99 21,610 204,316 9.255 14.851 236.521 36.672 25.lY]O 1.126.372 746,240 59.900 75,073 205,381 624,533 52,586 2,713 7,520 21.610 202.543 7.899 8.851 290.416 13.110 25,000 2,990 421 11,7731 11,35SI 18.0001 53.895 123,S621 2.990 2.149 Total RoBtrfctod 3 441 S57 3 472 e87 TOTAL FUNDS 23 033 208 P¥24 contsnued... Archd￿Ce88 of Cardrfl Notes to the Financial StAtÈmÈnts. conbnuad for the Year Endtd 31 March 2024 15. Mov•ment in funds. ¢onllny•d Compar8tNe net movement In funds, irKhJded in Ihe abovt are as loltrrt". In¢omlng resourc88 Gaim and losses Movom8nt In funds expended Unrest￿cted funds Curkal Parochial Housekeepers, Ptfi$K)n FU￿ SC#).518 3.743.622 11.965,1081 13.185,6281 1521,4961 11,986.0861 557,994 4,105 4.244,140 15.154.8411 1521.4961 11.432,1971 R8Strlcted fund5 Prvasl TfainiTrg Fund Sick & Retired C*rgy FUNI Calhedial Re$iofolion Fund G¥lholi¢ Care ollhe Deaf Fund Sensory Garden Syrian Refuge8 Famity Supporf Specia1 Collodb)n$ HLF euildin9 Re$il*n¢* Thlr¢ S¢¢lor ReSi1￿nC* Fund wor￿ Youth D Ukiaine Refug•e Famity Fund 41.925 77.182 421 21 135.3591 177.1821 6,566 421 11,7731 11.3561 18.0001 53.895 11.7941 11.3561 18.0001 1342,4531 155,6551 135,4531 124.6121 396.348 55.655 11,891 24,612 123.5621 2.990 2.149 013.723 582.393 31,330 TOTAL FUNDS 4.857.863 15.7372341 1521.4981 11.400,8871 Page 25 conlinl￿d.. Archdioc858 of Cardiff Notes to the Flnanclal Slatem?nts- co￿nu9￿ for the Year Ended 31 March 2024 CURIAL Priest Training Fund- for the trainiry and orvjoiry lomat￿n of pr*sts Poor mis5￿n5- lor iwikjing atKI improving ¢hvr¢hes and s¢hoots In Ihe poor a￿a$ ofthe di0￿$e Endowed missions and ma$￿- donatp)ns and lagao8s for cknurch￿ and masses Overseas Miss￿)n5- for the support 0fmiss￿n% ID Alnca and S.Americ4 Sick 8nd retired clergy- to sUPPOrt pne5ts in relirerrenl ar¥J ￿ ill heatth Archbishop Murphy- for the Iraining of pne5ts and laty Mensal- lor the $uppon ol Ihe Ar¢hbi8hop Ouf Lady ofvocalions- for Iha plom0t￿n olvocabjrs lo Ihe prnsthcoy Cathedral restorat￿n- donations lor the proposed resloratThi Pastoral str8tegy- to supprKt Ihe pastoral tiainirvJ of der9y and laty Catholt Care ofthe Deaf. to promote the edu¢aix)n. **11oie arnl spirrtual *llbeirg of de•f *llhin W¥le• National Loiiery HLF Grani. 101 Ih? resloralKJn olihe Cornerstone ehaF Sensory Garden- donations lo provh1e a Sen50ry Gafden al Cornerslone Wortd Youth Day- donations for Ih• Oiocesan group to V15rt Krakrtwfo¥Wodd Youth Day Syrian Refug￿ F8mity Support- to wpport a SyTu3n Rell￿1*t lamity Ir￿n0 in tho P•ri$h of Our Lady Star of Ihtr S•a. Porfhca% WCVA ¢uMural rKowy grant . o pjst Cov#1 grant to wist dyJtali$alKJn ond improvemgnts to ST and Communicatrorss. PAROCHIAL Special Colk¢iion$- ¢olk¢lk)n$ taken fft p*rV4￿$ DESIGNATED FUNDS Housekeepeis peTrsKin - loi th• pensions of rétired parish housekeew Se• Mi$sion- for Ihe $ypport olihe Apo$iie$hip of Ihe Se¥ Ckrgy weWare- funds o11ocaled 10 SUPPOrt reiired ènd Infinn clergy Scheols de¥elok¥Thnl- lowards the future devebpmenl of dI￿san schoo Campaign fund- unreslricled donalion5 for c*pJy weWare, calhedra1 rt$tOT81itin •rtd p•siorèl Strategy Property fund- gr¥nt¥ 10 be amorftsed over It￿ Irfe of the l)uikJings Insurance reseNe fund- lo equalise premiums and fund pansh nsk managemnl Cathedral develo￿ent fuTrJ- lor the repair relwbL4hment of Cardffl MetropJlilan Calhedral FUNDS OVERORAWN The charity had overdiawn restrh#ed I￿￿13 88 at 31 2024. Posl yeai end Ihe ch•nty has re4islribuled In¢gm¢ In relation 10 Ih8se funds. 10. Tr•ns•G¢lons wllh twstM• Certain ollhe TNstee5 are akn pr*sl$wrthiThthe 0tt08e. As IW ree•ve incoTh from their office together with living accrynmodaiion. Iww expenses an¢t ￿1mburneMeAI of ¢osi$ in¢utted on behalf of Iheir parish on ihe same ba5i% as olher pr*$is wilhin its Dx)¢e$e No Tfu$iee$ wewe any ￿MvnerotiOn or benefrfs from their Iru$iee$hip$ No tw$*es **re paKI for kYofes$K)no18¢rvK¢$ io Dvx¢s¢. 17. Cornerstone lease The restouranl and cafe ￿Irt*S at Cornerslone afe *ased lo a third party. The ￿8$8 has be8n granted for 8 period of 25 years wrth a (￿*wtO be undertaken every 5 yearn.