Charrty registrallon number 1195865
THE FRIENDS OF LLANDAFF CATHEDRAL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE FRIENDS OF LLANDAFF CATHEDRAL
COhlTE14TS
Tiustees report
Independent examiners ￿port
Statement of financial aCti¥￿e$
Balance Sheet
Notes to the financial statements
9-19

THEF
IENDS OF LLANDAFF CATHEDRAL
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual rewt and financial ￿aternerts for the year ended 31 December 2024.
The ftn8nual ststements have been prepared in accordance wth Ihe accounting poliues sel OLrt in note 1 to the
financial statements and ujmpty th the thari￿s goveming docjjmenl. the charib.es Act 2011 and "Ac¢ounting and
Reporting by Charities.. Statemi ent of Reconmended Practice applicable to chanties preparing their accounts in
accordance wth the FinanGial Reporting Standard applicable in the UK and RepU￿1C of Ireland {FRS
1021" (effective 1 January 2019).
Objectives and activities
The objects and aclivti*s ofthe CIO are...
To help 2nd finanaally sU￿)rt to Chapler of Uandaff Cathedral for the provision, maintenance and
enhancement of the Cathedral Church of Uandaff.
To support and devdop the tradth.ons of wowship in Ihe (xthedral. induding suppo￿"ng and enhanang ils
choirs and musiG to support the life. worship and ministy of the Cathedral.
To encourage the furtheran￿ of Social, edU￿tional and cJJlbJral oPF(rf￿nl1Ies for the benefft of rnembers,
Llandaff Cathedral's wmmunity and society as a vthole.
Public Benefrt
The trustees have paid due regard to g(ridan￿ issued by the Chanty Commiwon in deciding what actwit.ies the
charity should undertake. and in ￿annIng fulure athibes. In p2rticular. the truSt￿S consider how planned aclivtties
will contribute lo the objects.
Trustees raise money and make grants ar￿ donations to U8ndaff Cathedral. Llandaff Cathedral is a place of
historiral and culttjral importance. It holds Con￿rtS. maintains choirs. and hosts national everrts. It is open lo the
public.
Grant maklng policy
The Cathedral Chapter submit grant applicabons to the trustees for speafic proie¢Ès that they have prior51ised.
These are consÉdered by the trustees and rf they are approved. granis are paFd to the Cathedral.
Achievements and perk)rmance
During the year Irvstees met wth representstives of Ihe Chapter to o)nsider their plans and how best the Friends
could support them. Decisions %Yere tsken to award grants of£45.000 to supwjrt CAthedral musio
Financlal Trview
It is the policy of the charity that unrestricted funds which havo not ljeen designated for a specific use should be
maintained at not less than one year's expendrture. The tnjstees consider that resetves at this level will ensure th81,
in the event of a significant drop in funding, they wll be able to conth.nue the charity's wrrenl activities while
consideration is gNen to vrays in which addttional frjnds rnay be raised. This level of reserves has been maintained
throughout the year.
The financial ststements show invethents at market vall￿. Gr3nts paid oth during the year amount￿[ lo £45.000.
Unrestricted reserves at 31 December 2024 were £842,850 (2023". £814.9371.
The charity has no employees and has no FAans to recnmt any in the foreseeable future. Mbrk on behalf of the
charity is carrred out by vdunieer5 and therefore, no unnecessary costs a￿ being incurred.

THt FRIEND
LLANDAFF CATHEDRAL
TRUSYEES REPORT (CONTINUED
FOR fAE YEAR EIVDED 31 DECEMBER 2024
Structur". governance and management
The chanty is a Chartsble Incorporated Organisation
The trustees who served during the period and up to the date of Signatu￿ of Ihe financlal statements were"
President
Captain Sir Nomaj) Lloy&Edward5
Chair
Mrs L D Quinn
Trustees
Mrs L D Quinn
Mrs M E G AJxlerson-Reed
Captain Sir N Lloy&E(Iwards
rAAD Rees
Mr B Robin50n
Mr D Gwesyn Smith
OrA J Edwards
Mr D G Collins
MrAC Impey
Mrs S A Davies
Mr t>L Jones
None ol the trustees has any beneficial interest in the CIO. AJI of the tnJstee5 ate mem￿$ of the CIO and
guarantee to contribute £1 in the event of a vnnding up.
The CIO seeks to recruit trustees widely. from both inside and oulstde of the Cathedral community, from among
Ihose with an interest in the heritage, culture tradth.ons of the Cathedral.
Trustees are appointed al the Amual General Meeb"ng. Dunng the year existrng trustees may appotnt new trustees
who will be required lo rettre and slarKI for r&appointM￿t ai the nextAGM.

THE FRIENDS OF LLANDAFF CATHEDRAL
TRIJSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Reference and admlnlstratlve Inforniat(on
Charlty number
1195865
GoveTning document
CIO-Assoriation registered 21 September 2021
Bankers
Uoyds
1 Qlteen Street
Cardiff
CFIO 2AF
COIF Charity Funds
1 Angel Lane
London
EC4R &4B
Independent Examiner
AzetsAudtL Servi￿$
CharteredAccountanls & Statutory Auditors
Ty Derw
Lime Tree Court
Cardiff Gate Business Pa
Cardrff
CF23 8AB
Principal Address
Uandaff Cathedral
Administration Office
Prebendal House
Uandaff
Cardrff
CF5 2LA
Honorary treasvrer
Brian Robir￿¢
10 Bishops Avenue
Uandaff
Cardrft
CF5 2HJ
Honorary secretary
Arthur Impey
5 Deans Close
Uandaff
Cardiff
ember5hip secretary
Nitholas Lambert
5. Rinaston Court
Fai￿ater Roa¢J
Cardrff

TH# VRIENDS Or LLANDAFF CATHEDRAL
YRUSI"EES REPORT {CONTINUED)
FOR f&4E YEAR tNL)E0 31 DECEMBER 2024
The trustees report was approved by the Board of Tfus*ee5.
Dale.. ...

THEF
DS OF LLANDAFF CATHEDRAL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE FRIENDS OF LLANDAFF CATHEf)RAL.
report trj the trL15tees on my examTnation of the finanGial stst¢m¢nt8 of The Friends of Llondaff Cathcdral (the
chaTilyl for the year ended 31 December 2024.
Responsibilities and basls of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance wlh
the requirements oflhe Charilie5Acl 2011 (the 2011 Acti.
I report in respecl of my examination of the charity's financial statements carried out under section 145 of the 2011
Act. In carying out rlly examination I have folloyrfed all the applicable Directions given by the Charity Cornmission
under section 14515llbl of the 2011 Art.
Independent examinevs statement
Your ?ttenlion i* dravm to tho fact th2t tha charty h28 prepared fingnty81 st31•menls in aecord3t￿ urith Aeeounting
and Reporting by Charities preparing their accounts in accordan￿ Nlh the Finanaal Reporting Standard applicable
in the UK and Republic of Ireland IFRS 102} in preference to the Accounting and Reporting by Charilie5.' Statement
of Rècommended Pfactice issued on 1 April 2005 whi¢h is referred to in the extant regulations but has E)een
wlthdrawn.
l understand that this has been done in order for financial statements to proiride a tfue and fairview in accordance
with GeneralIyA￿epted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examin4tion. I confirm that no matters have come to my attentson in Connection virth tre
examination giving me cause to believe that ill any materi31 respect-
accounting records were not kept in respect ofthe charity as required by section 130 of Ihe 2011 Act,. or
the financial statements do not accord with those records," or
the financial statements not comply with the applicable requiremenis ¢Dncemirsg the form and conieni of
8c¢ounts set out In thè Charities (Accounts and Reports) Regulations 2008 other tlan any requirement that the
a¢￿unt5 give a true and fair view which is not a matter considered as part of 8n independent examination.
I have no COn￿mS and have come across no other matters in connection wrth the examination to which attention
should be drawn in thls report In order to enable a proper understanding of the financtal statements to be reached.
Andrew Howells
Azets Audit Serylces
Ty Detw
Lime Tree Court
.gJrdiff e.atÈ Busin￿ Park
Cardiff
CF23 8AB
Unlted Kingdom
Dated..
14￿￿￿1 2024

VJ el ¢
75
¥ ￿ ¢4
(F*
Dto
75 (4
¢SJ

T5
Z5 VJ Y
lJ
VJ yp w
• ¢4

THE FRIENDS OF LLANDAFF CATHEDRAL
BALANCE SHEET
AS AT31 DECEMBER 2024
2024
2023
Fixed assets
Investments
14
641,553
608,512
Current assets
Debtors
Investments
Cash at bank and in hand
15
16
650
312.163
124.204
700
303,826
135.763
437.017
440,289
credIt￿s. amounts falling due wlthln
one year
17
(1,800)
{1.174)
Net current assets
435.217
439,115
Totsl assets less current liabilities
1.076,TTO
1,047,627
Capital funds
EndO￿1nent thunds- general
Income funds
Restricted funds
Unrestrtcted fijnds
18
23.885
22.655
19
231.469
821.416
210.035
814,937
1,076.770
1.047,627
zoi
The finanaal statements were approved by the TTUStee5 on.. ... .... ............
Thistee- Brlan Robinson

THE FRIENDS OF LLANDAFF CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting poli¢ies
Charity infonnation
The Friends of Uandaff Cathedral is a Charilatle Incormted Oryanisati¢M register￿1 21 septem￿ 2021
whose principa Offi￿ is Uandaff Cathedrdl. Administration Office. Prebendal House. UarKlaff. Cardiff, CF5
2LA.
1.1 Aeeounting convention
The finanoal sl*ements have been prepared in accordan￿ with the charl￿$ goveming document, the
Charities Act 2011, FRS 102 "The Finanaa Rewrting StarKlard ap￿icable in the UK and Republic of
Ireland" I"FRS 102.1 and the Cha¥tb"es SORP -Accounting and Reporting by Chariti"es: Statement of
Recommènded Practice ap&rficat4e to c*arits"es preparing their aCt￿ntS in accordan￿ th the Financial
Reporting Standard apF1ica￿e in the UK and RepulAic of Irdand IFRS 1021. {effecttve 1 January 20191. The
chanty is a Put4ic Benefft Enttty as deffir￿ by FRS 102.
The charty has taken advantage of the provis[c￿S in the SORP fc¢ charities r#)t to prepare a Statanenl of
Cash Flow
The financial ststements have departed from the ChaTibes {AccrrtJnts arFd Reports} Regulations 2008 only to
the extent required lo provide a true and fair view. This departure has involved followng the Statement of
Recommended Practice for tharities apth'ng FRS 102 rather than the version of the Statement of
Recommended Prath"ce whKh is referred to in Regulaticms Ixrt has gn(E been *Mthdrawn.
The finanrAal statements are prepared in sterling. whth is the functional currency of the tharity. Monetsry
amounts in these finanaal statements are rrxjnded to the I￿are$l
The financiat statements have been prepared under the historical cost convention. modified to incljde ￿rtain
finanua instruments at fair value. The prinupa accountru prAiaes adopted are set out below.
1.2 Golng concern
At the lime of approving the fin8nu81 ststements, the trustees have a reasonable expedation that the charity
has adequale reSoUr￿S to continue in operationaE e￿Sten￿ lor the foreseeable futu￿. Thus the trkEtees
conts.nue to adopt the gotng Conc￿ basis of accounting in Krywring the finan081 ststemen
1.3 Charitable funds
Unrestricted funds are avalat4e for use * the di%xetion of the Iruslees in fvjrtherance of their tharitable
objectives.
Restricted funds 8re subject to 5pecrfic CL￿1rts0Tr5 by don¢xs as lo W Ihey may be used. The PUTFoses and
uses of the restn.cted fttnds are set nut in the notes to the )Inawal *atement&
Endowment funds are subject lo spe(ific conditrons by don0￿ that the caprta must be maintained by the
charity.
1A Income
Income is recognised when the charity is legally entiued to it after any performance corKlition5 have been met.
the amounts can be measured reliat4y, and it is wobatle that income ￿11 be re￿ved.
Cash donations are recognised on receipt Other donaltons are recognised once the th3rity has been nolified
of the donation, unless performarKe Cond￿"0n5 require deferra of the amount Income tax recoverable in
rekb.on to donati¢)ns received under GiftAid or deeds of Ca)venant is recognised al the time of the donation.
Legaaes are recognised on recapA or otherwise rf the charity has been notified of an impending dstrit*rtion.
the amount is known. and re￿Ipt is expected. If the amount is not knovm. the legacy is treated as a
contingent asseL

THE FRIENDS OF LLANDAFF CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
1.5 ExpenditUTe
Expenditure is recconised On￿ is a lega ￿ clTht￿ve otlgatton to traT￿ ￿nOmiC to a
third party. it is probatle that a transfer of economic beneffts wtll be required in settlement, and the amount of
the obligation can be measured rdiabty.
Expenditure is dassffied by actiwty. The costs of each activity are made up of the total of dIr￿t costs and
shared c05t5, indLKding supwrt costs invdved in undertakn.ng eath ath"vrty. Direct costs attributstAe to a single
activity are allocated direclly to that activity. Shared costs which contribute to more than one acl'vity and
support Costs whith are not attn"butable to a s?ngle al￿￿ are ar4)orts"on*J befvRen those acb'vites on a basis
consstent wth the use of resource& .
1.6 Fixed asset investments
Fixed asset investments are inrb.dty rneasured at tr3nsaclion prtce exdudiThJ trartsaction costs. armj are
subsequently measured at fair value at each reporting dat& Changes in fair value are recognised in net
incomellexpeiKliture) for the year. Transac*on costs we expensed as incuThed.
1.7 Cash and cash equivalents
Cash and cash equivalents indude cash in hand, deposits held at C811 wth banks, other shOr￿teTrn liquid
investments w¢th original maturities of three months or less. and bank overdraft& Bank overdrafts are shown
thin borrowngs in current liaknliti'es.
1.8 Financial instruments
The tharity has elected to apFty the proviwons of secti￿ 11 'Basic Finanaa] Instnjments, and Section 12
'Olher Finanoal Instruments1&8ues' of FRS 102 to all of its financial insbuments.
Financial instrument5 are reccgni5ed in the chantys b￿an￿ sheet the ¢*anty tecomes party to th8
contractual provisions of the instruTnent
Financial assets and ￿ab￿rtIeS are olTset, the net amounts Presented in the finanual statements, when
there is a legaljy enforceatle right lo set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liabrftty simsJtaneou*.
Ba51¢ financial assets
Basic financAal assets. which indude debtors and cash and bank balan￿5, are intb'ally meastjred at
transacts.on price induding transaebon eosts and 8re subw]uenty carried at amorbsed cosl using the effeth've
Inte￿St method unless Ihe arrangemenl conslriutes a finanung tsan5adion, vthere the transaction is
measured at the present Value of the firture receipts thscounted at a market tate of rteresL Fina￿￿ assets
dassified as rec*vabte within one. are not amoitised.
Basic ffnancial Ilabllitles
Basic financial liabl1￿.es, induding creditors and bank kjans in￿alty rerA)gnised at transactirffl pri￿ unless
the arrangement (￿sit￿teS a financtng transath"on. where the debt instrument is measured at the present
value of the fuiure payments discounted at a market rate of interesL FInana￿ liabibkn'e5 das5ffjed as payabk
wthin one year are not amOr￿sed.
Debt instruments are sub5equenty carried at amortised rt usiNJ the effective interest rate method.
Trade creditors are obligations to pay for goods or Serv￿ thal have been acquired in the c￿dIn&Y COUTse of
operations from suppliers. Amounts payable are dasstfied as current liabilities if payment is due wthin one
ye8r or less. If not, they are presented as nonwCUTrent habiltiies. Trade cre(lrtors are recognised iniJ"ally at
transath.on pnee and subsequenty measured at amorts.￿ cost using the effeth.ve interest method.

THE FRIENDS OF LLANDAFF CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
Derecognftion of fina￿181 IITaknliiies
Financial liabilibes a￿ derecognised when the charitys Contrac￿ oLligabon5 expire or are distharged or
cancelled.
CrSUcal accounting estimates and judgements
In the 8pplicatson of the ctsrrvs accounting wAiues, the trnstees are required to make judgements, estimates
and assumptions a￿ut the carrying amount of assets and liabilitses that are TK)t readily apparent from other
Sour￿$. The estimates and assoaated assumpb'ons are based on historical experien￿ and other factors that
are considered to be reievanL Actual results may dtffeifrom these estimate&
The eslimales and underlw.ng assumptions are revie￿ed on an ongoir¥J basis. Revisions to accounting
estimate5 are recognised in the pericmj in vthich the estim*e is revised where the revision affects Lnty that
period, or in the period of the revision and firture pericrtys where the re￿￿On affects both current and futu
periods.
Donatloos and legacie5
Unrestrlcted Unrestricted
fund5
funds
2024
2023
D¢)nalions and gifts
Legacies rewvaL4e
7.156
8,396
112,003
8,196
120,399
Donations and glfts
Donations
7,156
8,396
7.156
8,396
Charitable activities
2024
2023
Events income
1,939
1.257

¢00
**w o

THE FRIENDS OF LLANDAFF CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Ralslng funds
Unrestrieted Unrestrieted
funds
funds
2024
2023
14
Other fundraising costs
3.580
2,954
3.580
2.954
Charitable aclivilies
2024
2023
Insuran
Other Expenses
157
156
130
157
286
Giant fijnding of activities {see note 81
Share of governan￿ costs (see note 91
45.000
1.790
314,351
1.004
46.947
315,641
Analysis by fund
Unrestricted fvnds
Restricted ftjnds
46.947
53,865
261,776
Grants payable
2024
2023
Grants lo institutions-
Music of the Cathedral
Major upgrade of Cathedral Heating System
Garden of Remembran
Cathed￿1 Archives
45,000
45,000
261,776
7,000
575
45,000
314,351

THE FRIENDS OF LLANDAFF CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs
Support Govemance
2024
2023
Independent examinatvjn fees
1,790
1.790
1.790
1,790
1,004
Analysed be￿een
ChaTri8tle activ￿e$
1.79Q
1,790
1.004
10 Trustees
None of the trustees (or 3ny persons corwEcted wryih them) recwved any remunerntion or benefits from the
charity during the year.
11
Employe8s
The average monthty n¥Jmber of emFloyees ￿rIng the yearwd5:
2024
Number
2023
Numbgr
Tirtal
There were no empbyees vthose annual remuneralion was more than £60.0(ML
12 Net gainslllossesl on inveslments
Unrestr1d￿ Endowment
nds
funds
general
2024
Totsl Unrestricted Endo￿nent
fund5
funds
general
2023
2024
2024
2023
2023
Revaluation of
investments
40.148
1.230
41.378
57,499
1.173
58.672
The revaluation gain comprises a gain on fixed asset Investm￿ of £33.041 12023 gain of £31.499) and
revaluation gain on ￿rrent asset investments of £8.337 {2023 gain of £27.1731.
13 Taxatlon
The charity is exempt from tax on income and gains falling vithin serthon 505 ofthe Taxes Act 1988 or sects'on
252 of the Taxatpjn of Charyeatle Gwns Act 1992 to the extent that these are applied to its charttabte objeGts.

THE FRIENDS OF LLANDAFF CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Fixed asset investments
Unlisted
investments
Cost or valuatlon
At 1 January 2024
Valuation changes
608.512
33,041
At 3lDe￿Mber 2024
641.553
Carrying amount
At 31 De￿mber 2024
641,553
At 31 December 2023
608,512
IS Debtors
2024
2023
Amounts falllng due within one year.
Trade debtots
650
700
16 Current asset investsments
2024
2023
Unlisted investments
312.163
303,826
17 CreditOf5: anM)unts falling due within one year
2024
2023
Accruals and deferred income
1,800
1,174

THE FRIENDS OF LLANDAFF CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Re5trtcled funds
The income funds of the d￿rity indude restricted tunds the frAlcwing unexpended balan￿ ot
donations and grants held on trust for 5peufic purposes..
Movement in funds
tncominy
Trnn5fw5 Balanc8 at
31 1)ecember
Legaey received- Rita
Tyrrell
471.811
1261.7761
210.035
6.245
15.189
231,469
Mrs Rita Twdl legacy was [￿l¥ed for the upkeep aThJ Maintenan￿ and improvement of the Cathedral
Transfers are an ac4'ustment of interest received rel* to the re5trirAed fund since the fvnds were
re￿IVed.

¢4
S ¥J

THE FRIENDS OF LLANDAFF CATHEDRAL
NOTES TO THE FINANCIAL STATEPaENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21 Related party tr4nsactiorts
In the prior year the net assets of the chanty The Friends of Llandaff Cathedral (charity number 501362) were
transfeTred to this tharity. There were no rAher related paty transacttons during the prior year.