Norwegian Church Cardlff Bay Charlty Numbw 1195926 Annual Rep¢rt & Flnanclal Ststements For the perlod Endtd 31 MARCH 2024 isi Flu . Brwk Roal itctrvJrth Cardrfl CF14 1DU Page I I
Nonwian Ojurch Ca¥DSff knv Chartty Ilumber 1195926 Annual Repct & Statements of finarcial ActSlieS For the PEFEod Ended 31 MARCH 2024 Report of the trustees (including Strategic reportl for the year ending 31 March 2024 Chair's report The trustees are pleased to psent their annual trustees, Teport together with the financial statement5 of the charity for the year ending 31 March 2024 whlch are also prepared to meet the requirements for a trustees, report and accounts for Companies Act Purposes. The financlal statements comply with the Charities Act 2011, the Companies Act 21J)6. the Memorandum and Articles of Associath'on, and Accounting and Reporting by Charities- Statement of Recommerided Prartice applicable to charities preparing their accolrnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. PaEe12
Nonvegian Churth Cardiff 8av Charity Number 1195926 Annual Report & Financial Statements For the period Ended 31 MARCH 2024 1st Floor Brort Htyjse. Br( RoaLt Vvhitthurch Cardrff CF14 1DU PagEII
No¥wlan ChuTth CaTdiff B tharrty Number 1195926 Annual Report & 518tements ol ffnanoal Aciithes Ftythe peiiod Ere 31 MARCH 2024 Report of the trustees (including strdtegic report) for the year ending 31 March 2024 Chair's report The trustees are pleased to present their annual trustees. report together with the financial statements of the charity for the year ending 31 March 2024 which are also prepared to Fneet the quirements for a trustees, report and accot$ for Companies Art purposes. The financial statements comply with the Charities Act 2011. the Companies Act 2006, the Memorandum and Article5 of Association, and Accounting and Reporhng by ChBrities- Statement of Reiommended Practice applicable to chartrie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ITeland IFRS 1021. Page12
14orweglan thurth CaTtliff BJ Charity Number 1195926 Annual Rewl & Statements of Finahtral Atiiv4be5 For the period Ended 31 MARCH 2024 Contents Members of the Board and Professional Advi50r5 Trustees Annual Report Governance and Public Benefit Future Oevelopments Statements of Financial Activities Statement by Independent Examiner Pa Pè e5-6 Pa Pa e8-13 e14-15 Page13
Nc*wtyan thurch Cardlff Bay thavlty Nurnber 1195926 Annual Repwt & SlaLement5 of Finanual Acthiie5 For the pewiod Ended 31 MARCH 2024 l. Members of the Board and Professional Advisors Members ofthe Board Or. Marhn Rees-P¥ice Ichair) Mr. Cato 5yversen Mr. Mike Parkinson Registered Address Norwegian Church Centre HarbDur Drive Cardiff CFIO 4PA Telephone 029 2049 2261 Email ianchurchcardiff.com Web51te wWW.noe ianchurchcardiff.com Legal Advisors Geldards 4 Capital Quarter Tyndall Street Cardiff CF104BZ Bank Barclays Bank I Churchill Place London E14 5HP Pa8e14
NM¥eEI thurth Car(ff B3y CharÈty Number 1195926 Annual Report & Statements of Ftsa£ial Acifvities For the perioJ Etyded 31 MARCH 2024 Norwegian Church Cardiff Bay Trustees Annual Report April 1°. 2023. to 31 March 2024. The Norwegian Church Card6ff Bay INCCBI was registered in 2021 as the successor charity to the Norwegian Church Preservation Trust. The Norwegian Church Cardtrf Bay is a Elstered as a Charitable Incorporated OanisatiOn (charity number 11959261 and has a wholly owned trading ¢ompany- Norwegian Church Cardiff Bay Trading Limited registered with Companies House (registration number 139049061. As trustees we took responsibility for the Norwegian Church in March 2022 from Cardiff Council who had been the sole trustee of the Preservation Trust_ The Church opened to the public in April 2022 50 the financial year ending 31 March 2024 marks our Second full year of operation. The rationale for establishing the NCCB was to bring the Church back into community control and establish the Church as a communsty, heritage. art5 and education centre a5 well as a venue in which to celebrate the long-standing family. cultural and educational links between South Wales and Norway. The highlights of the FY 2023124 were= Securing a three-year grant of £186k from thÈ National Lottery Herttage Fund following the Successful completion of a one-year grant. Obtaining Grade 11 listed building status from Cadw. Certilication of the Church as a visf(or atttaction by Vi51t Wales_ An increase in the use of the building by local communrty groups as well as local and national charities and busine5%e5. The development of the Church as a niche music venye. Well attended and high-profile lebratiOnS of Norway'5 Conskntution Day117 May) and the Festival of Light and Friendship110 December) in conjunctton with the Welsh Norwegian Society. Inteinal changes to our management of the krtchen and cafe which have reduced costs rddicalty improved our food offer. Following the SLEccessful implementation of a one-year herEtage project in 2022123 we obtained a further three-year grant120231261 from the NLHF for our"Heritage Research and Outreach Project" In applying from the grant. we received fantastic support from our'heritage" partners and local supporters who provided u5 Wlth letters of siJPPOrt. Letters of support were obtained from: The Welsh NOne ian Socie The Ro al CommissK)n for Ancsent and Historical Moruments in Wales The Victorian Socie Glamo an Histo SocÉÈt Vestland Coun wansea Univer51t Centre for Herit3 e Research and Trainin Theatr The Ro al Welsh Colle eof Musicand Drama and Creditsafe. ThÉs badth of support emphasises the Snrf1cance of the Church to a wide range of very different communitie5 and the success our first-year project lalso funded by the NLHFI. This new, longer-term grant will enabled us to consolidate our heritage work ènd invest in international, national and local OL¢treach programmes. Pa8elS
tharity Number 1195926 Annual Report & SiBternept5 of Rnandal AtlT¥itre5 Forthe period Ended 31 MARCH 2024 We also sought anil obtained Grade 11 Itsting for the building from Cadw, the We15h Heritage organisation, and obtained certtfication as a visttor attrattion from Visit Wale5. The use of the church by local charities, schools. colleges and businesses as a meeting or exhibition venue has continued to grow with a wide range of organisations making use of the church for over 200 exhibitions, half day and fijll day meetings and performances. We are espetially pleased wtth the development of the church as an Fntirnate niche music venue, larEely dLte to its wonderful setting and acou5tiC5. We hosted over 50 performances, ranging from choirs, as well as highly respected folk, jazz, pop and rock groups. We worked wtth The Royal Welsh College of Music and Drama to select our resldent ensemble. the Bute Wind Quintet who rehearsed at7d performed regularly dL¥ring the year. The church also hosted the celebration of NoTh¥3¢s Constitution Day 3nd Festival of Light and Friendship, both organised by the Welsh Norwegian Society in conjunrtion with staff. These are significant family and public event5 in Norway and both events Invoed music, the piovision of Norwegian food ènd drink. speeche5 from dignitaries from Cardiff and Vestland Counci15 and for Constitution Day, ? colourful parade through Cardiff Bay. These events proved hsghly popular with the public. The year was financially challenging. The winter and early spring weather was extraordinarily wet and this badly affertèd footfall for 34 months. As noted above. our initial start-up cost5 were greater than anticipated and, as we We unable to secure an energy SLSpplier when we took over responsibility for the church Idue to th& volatilty of prices post covid and the start of the Ukraine warl we subcontrarted energy supply from the Council ar¢d energy prices unexpertedly rose almost three-fold in the financial year to over £24k as year which was also unexpetted. This created a severe challenge to our budget and cash flow position. And while securing the NLHF grant was a considerable achievement, a condition of the grant is that we are paid quarterly in arrears and so must meet quarterly costs in advance. This added to the pressu on our cash posttion which we addressed through obtaining a loan from the Sustainable Investment Fund operated by Wales Council for Voluntary Action for which we are grateful, and which we a paying back on a monthly basi5. We are very mindful of our financial position and the trustees meet monthly to review finances and have worked with management on cutting costs. improved marketing and developin8 innovative income generating activities. These include a focus on maximtsing bookings for weddings, private and corporate parties and investing in more community-based income generating actÈvities, all of which are bearing fruit WFth forward bookings looking stronger from thi5 and next year. We are not yet out of the woods, but we are well on the wav. The charity has a wholly owned Trading svbsidièry, Norweglan Church Cardiff Bay Ltd, Company Number I39046. which runs the café and other commercial artivities. This had a turnover of £255,51612023: 202,5321 and transferred £33,C4XJ to the chartty. ' Someof the proje£t'50Utcorne5 3re alread¥awd1b1¢ Onlinp. 5uth a50 3D bideo olthe Churth and a 3D SketchFèb model. whi¢h can be View uri LhE Ilnk5 TTrese We[real& [neR>Ic¢M[tsthOl HI[**andAeD1mDu[TrelltS In Wa Tho NDrw Chvfih Caidilf- Yr i Idd Caerdvdy tube.iom. Page16
Charity Numljer 1195526 Annual Repryt & Statements of Fin3naal Activittes For the pÈrrod Ended 31 MARCH 2024 The Tru5tee5 also wish to acknowledge the in-kind support from Creditsafe Ltd- website design and search optimisation, HR and Finance advice. 2. Governance and Public Benefft The Norwegian Church Cardiff Bay INCC81 was registered as a Charitable Incorporated Organisation by the Chatity Commission for England and Wales on 27 September 2021. The NCCB was registered using the model of constitution provided by the CCEW. The three initial trustees were-. Dr Martin Lionel Rees-price Ichairl appointe(l on the 27 January 2021- Mr. Cato Syversen apFY)inted on the 27 September 2021- Mr. Michael John Parkinson appointed on the 27 September 2021- The constitution of the NCCB allows for the appointment ot up to nine trustees. The current Board intends to recrutt new trustees with ex[rIenCe in arts. heritage. community engagement. internats.onal links with Norway plus specialist financial and managerrent experience. Publi£ Benefit Ststement The Norwegian Church Cardiff Bay's charitable objects are for the benelT"t5 of the general publc and the publsc of Cardrff and South Wales. To furtherthis public benefit, the chartty focuses on four main areas of charitable activity-. Heritage- through research and educats.ng the public regarding the rich history of the Church since 1868 and the contribution that trdde and links between Wales and NoNiay have had on the social and economic developrnent of Soutl Wales.. Arts-through encouragÈng local artists and musicians to make use of the Church as a rehearsal and performance venue and making those performances available to the publtc,. Promoting and hosting community aciivtties - working with local or8anisations, lin particular, local schools) and hosting events to the benefit of other local charities and community groups- Promoting and encouraging stronger link5 between the people of Norway aF)d the people of Wale5. The trustees have complied with the duty in seclion 17151 of the Charities Act 2011 to have due regards to public and benefit guidance published by the CCEW when exercising any powers or duties to which the guiYance is relevant. 3. Future Developments The trustees are engagèd in maintaining and furthering the current activity 35 it is proving to be succe55ful and benefi.cial for the £ommunity. Page17
NOTh¥eall thuich Cardllf Bay Chaiity Number 1195926 Ammjal Report & Ststenjents of Kt)antial Acti%rybes For the peric fded 31 MARCH 2024 4. Statemerrts of Financial Arttvitses Income and expenditure account Unrestricted Funds R&tritted Fur*d% Total Funds Total Funds 2023 Income and endowmentsfrL Other revenue 37017 37017 582 Room hire 3942 3942 7284 Grant reiVed 38361 38361 57465 Donation5 1239 Totsl trncome 4095Y 38361 79320 66570 Eynditure on: Raising funds Charitable actlwties and administration 2391 20 4211 6511 42316 39404 81720 52845 Establishment C05t5 24933 24933 Total expendtture 69640 41224 110864 67809 Net 8ain511105sesl on Irwestments Nei incomellexpenth"turel -2863 -31 -1239 Transfer5 btheenlunL15 Other Tecogni5ed zainslllosse51." Depreciation Total irkwmellexpenditurel 829 829 99 -29510 -32373 -1339 Reconciliation olfvnds: Total funds brought forward Total fund5 (arried forward .>j -1339 -2863 -33712 PaEe18
Nm¥wan ChuTch Carthff B Charity Number 1195926 Amual Repwt & StatemÈnts of finana31 ACtIe5 Forihe period Ended 31 MARCH 2024 2024 Balance ZU23 Sheet FIXED A55ETS TBngible assets TO ed a55ets 3,221 4051 3221 4051 CURRENf ASSETS Debtors 6.054 10.765 Cash at bank aThJ in hand 29,078 24,493 Accrued Incorne 15.352 VAT Prepawments 2938 T¢xal Currert Assets 38.196 CURRE LIABIUTIES Trade credttor5 Funds held in trust 26.498 2.451 8.882 Accn*als and deferred income 3.597 -2.959 8.666 VAT Total Curyent knaknlitbes 30516 26.IXXI 39.315 NET A55Efs IUABILITIESI -16.IZ6 16247 The Funds ofthe charity RestrTcted income Funds .2.863 -29510 3855 Unrestricted irOMetns -5193 Retained unrestricted incomefijnds 16.247 17.585 TOTAL CHARITY FUNDS -16.126 16247 Approved by thetrustees on Sed on their behaff bv Name.. &gn3ture PaEe19
orwe8itin thurth Car(fjff Bay afity Number 1195926 Annual Rewt & StatemeTrls of nn0a1 Acti¥ryknes For the period ETr7ded 31 MARCH 2024 Notes tothe accounts: ha$ of prratiOrs of the fin0a1 statements The financial siaternent5 have been prepared undert1 histoncal cot ccMWEntion and are In atcordance with trust Saw, applitable 3¢countin6 standards. the Charibe5 SDRP IFRS1021 Isecono edthcn-october 20191 and the Charitie5 Act 2011. Fund accounttrtE al Unre5triaed frJnds.' Unre51Tiued lunds are gen1 fvnds that are available for use of the trustee's discretion in furtherante of any of the objertive of the d13rttv. bl Designated funds: Desi4nètedfunds are genetèl fiJnd5 set asideat the discretion of the twsteesor 5pecilic purpose5_ cl Restrirted fisnds- Restrlrted funds arethose donated for use in a partictslar ale8 fDra 5p2cific purpose. There are no re5trirted funds. and all funds are unre5tiicted. dl TaTrgibte assets DepreriatioD: Tanwble a55ets and Depreciation are rneasured at C05t le55 accumulated depreciJbon Depreciatian Is provided at rates calculated to write off the tost of the fixed assets, lesstheir ethmated residual values, over their expetted u5elul live5. Asset category Plant and Machinery el Trustee RemulleI0n= trustee reiVed MnEratio. expenses or financially through a related party, Cato Ssversen. one of NCCB'5 trustee is Chief Exeiutive of Creditsafe, a cotTrpany regi51ered with Companies House and the trustees received prD bono support from Marketing and FinancÈ staff employed by Creditsafe during the reporting penDd. Cato selSen did not benefit financially from these transattiQns nofees or other linan¢i¥l advantage We pfowded oradvice and SupryJrt received. Related PartyTraTrsactioms'. thetnjstees have enabled a café and room hiretradingfrorn rhe pMiseS by Nopwegian Church Cardilf BayTrading Ltd. &nce the Norwegian Churth Cardlff BayTrading LILI does not hav 8 baDk account to operate from, the Nofwegiah Church Cardiff Ray chanty ha5 agreed tc> hold any rnonie5 in trust for the NOrWeaft Church Cardiff Bay Trdding itd. The funds held in trvst at 3110312023 atnounted to £8,881.65 lincluding ift the bèlance 5b.eet a5 parr of the Iiabilthesl. P40 trustees have benefited frorn remuneration t>r transactions between th- NCCB and the Norwegian Churth Cardiff 8ay Trading Ltd. orfrorn rernuneration ortrar&3Ctions from the Norbveglan Church Cardiff Bay Trading Ltd. It a150 ha5 been aged that the Norwegian Church Cardiff Bay TradinÉ Ltd will do[te part orthe totslity Df their profrts to NCC8 at the end of theirlinancidl year. gl 51aff.. Staff employed by NorwewaTrChufch Cardiff 8tyTtadin8 Ltd aTe a150 working at trmesfor the NCCB charty Bnd li has beeTr a8Feed thatthe NOrean Church Cardiff Bay TTrding Ltd would irNoice the NCCB charrty 8t C05t forthe wages ld tothÈir ernployee5 when theyare workin8 forthe NCCB charity. A pertentage of the gross salary, employers Nl and employers. pension arè shown as costs inthe chèrityto refiert the work tompleted by rtain staff membprs on the chatity's activitie> Comparative tnfomiaknon byfund nnual rate Rwrirted Unrestritted Restricted 2024 2024 2023 2023 Ir>tome and endowmentsfrcth: Other Revenue 37(th) 582 Room Hire 3,710 7284 40,no 7.866 Grant ReceNed Architertural Heritsge Fund Lottery Grant Nional Heritsge Waterloo Fuundion 15352 23009 25864 WCVA 11601 Total 38361 31,601 25*64 Pa8e 110
NLYweglan CfvuTth Carthft Bay Charity Number 1195926 Annual Report & Statements Finaniial Artrwtres Forthe peTiod Ended 31 MARCH 2024 D31505 Just Giving Small donations io 239 1177 Total 249 1.239 Total Incarne 40.959 38.361 40,7[ 25.864 Uestr¢ted ResiriLted Unrestriaed Re#ritted 2024 2023 2023 Resources expended fvnds A(Svertising Di8ital collection pte Bank Feesjust GivinE Visual interpretation 2062 2989 327 150 47Q 180 1,820 254 5280 Total 1392 1.231 5,280 thariiable activltles and administration Salaries and stsf costs 31,694 30.962 24.266 15549 Travel and subsistence 1713 1436 839 Hotel 470 341 Mgtorexpen5e5 Printin8, POSta8e. and Stationery Telephone Accountsncyfres Staff training Legal Fees Bank charge5 Insurance 32 78 27 21 23 1078 1,069 103 17 asss Subscription5 General expenses ard sundries 1998 791 3,SIKJ 2741 3804 Total 42,314 36,318 36,116 16,729 E5tabfishment Costs Light and heat Repairs and rnantenance eaning Rates 10.171 5,542 565 1.256 4224 632 8.656 2341 Total 24.934 8.453 Page 111
Norwwan thurth Cardlff B•f Cbar5ty Number 1195926 Annual Repul & Stalernents of nanCial Actiirylies Fcr the period £nded 31 MAROI 2024 Other ie ns 10s5es Depreciation Total 830 Total expen5e5 70.470 41,226 45%99 22,009 Net kncc•ne/lexpendituref*ythe yearl This is statÈd aftercharprg.. 2024 Depreciation Accountancy semces 830 583 3,011 Total 3.011 Note5 tothe accounts It11ed TsibleXed8ssets-(harity Plant and Mathinery Co AE at l April 2023 Adrfitions 4.149 4,149 A5 at 31 Marth 2024 4.149 4.149 Depreaation As at l April 2023 Chargè for theyear As at 31 March 2024 830 99 929 Paae 112
NThegiaTr thurth Carthff B Charty Number 1195926 Annual Repwt & Statements of finanoal Acti¥fjt6es Forthe perioo Ended 31 MARCH 2024 Net book value A5 at 31 March 2024 3.220 3,220 As at 31 March 2023 4,050 2024 2023 Oebtor5 054 10,765 2,938 Prepayments Accrued Income 15.352 VAT Tot•S 21,406 13.703 C•sh * bank and In hand 2024 2023 Current account 29,078 24.493 Petty &sh T•1 29.078 24.493 Credkw5.' amountsfallln8 duewithkn lyear 2023 Trade Credltors Funds held in tru# Accruals 26,498 3,381) 3,597 -2,959 2.451 8.882 8.666 6,001 VAT Tth•l 30,516 26WI Pa8È113
P4cfwwan card183¥ Charity Nvmber 1195926 mual Rep(xt & 5tatemeiits of finanual AcLiIry15es For the perÈod Ended 31 MARCH ZU24 5. Statement By Indendent Examiner CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examinerfs Report Report to the tntsteesl members of NoThvegian Church Cardiff Bay On accounts for the year ended 31st March 2024 Charity no lif any) 1195926 Set out on pages I report to the tfustees on rny examination of the a¢counts of the above Charty {Yhe Trusf) for the year ended 3110312023. Responslbllltles and As the charty twstees, you are responsible for the preparation of the basis of report accounts in accordance with the Charfties Act 2011 ('the Acr). I report in respect of my examination of the Trust's accounts carried out under seclion 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under sertion 14515llb} of the Act. Independent I have completed my examination. I confim that no material matters have axamlner's statement come lo my attention in connection wrth the examination which gives me cause lo believe that in, any material respect, the accounting records Vre kept In accordance with section 130 of the Act.. or the accounts did not accord with the accounting records., or the accounts did not compty with the applicable requirements concerning the fonn and conlent of accounts set out in the Charities {Account5 and Reports) Regulats'ons 2008 other than any requirement that the 8ccounts grve a 'true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wrth the examinalion lo which attention should be drawn in this report in order to enable a proper understanding of the accoLEnts to be reached. Signed: Date: 2310112025 Name: MIKE TANN P3ge114
Ncrfwezian Chr(h CardtitBay Ch3r¢ty Nurnber 1195926 Annual Report & Statements ol fittanaal Actl¥ilie5 Forthe period Ended 31 MARCH 2014 Relevant professlonal quallficationlsl or body (If any): ACCA Address: Ltewellyns Ltd 1" Floor, Brook House, Brook Road Whilchurch, Cardtff. CF14 1DU Page115