Nonvegian Church Cardiff Bay Charity Number 1195926 Annual Report & Financial Ststements For the perfod Ended 31 MARCH 2025
Report of the trustees linduding strategic report) for the year ending 31 Mar¢h 2025 Chair's report The trustees are pleased to presenttheir 3nnual trusteeg repDrt together wfch the financral statements of the charlty for the year ending 31 March 2025 which are also prepared to meet the requirements fr>r a trustees, report and accounts for Companies Art purp05e5. The fi.nancial statements comply wtth the Charities Act 2011, the Companies Act 2006. the Memorandum and Articles of Association, and Accounting and Reporknng by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
Members of the Board and Professional Advisors Members olthe Board Dr. Marhn Rees-Price IChair> Mr. Cato Syver5en Mr. Mike Parkinson Registered AddrÈss Norwegian Church Centre Harbour Drive Cardiff CFIO 4PA Telephone 029 2049 2261 Email hair@norwegianchurchtardtff.com Website www.norwe ianchufthca Legal Advisofs Geldards 4 Capital Quarter Tyndall Street Cardiff CFIO 4BZ Bank Barclays 8ank I Churchill Place London E145HP
Norweglan Church Cardiff Bry Trustees Annual Rewrt April 1°, 2024. to 31 March 2025. The Norwegian Church Cardiff Bay INCCBI was registEred in 2021 as the successor charity to the Norwegsan Church Preserwdtion Trust. The primary purpose of the NCCB is the physical preservation of the Norwegsan Church, first built in 1868 to support the Norwegian community in Cardiff. The Tattonale for establishing the NCCB in 2021 was to bring the (hurch back into community control nd estsblish the Church as a community. herrtage, arts and education centre a5 well as a venue in which to celebrate the long-standing famsly, c(Eltur31 and educ3tionèl links between South Wales and Norway. The NCCB is a gIstered as a CharFtable Incorporated Organisation Ichar¥ty number 11959261 and has a wholly owned trading company- Norwegian (hurch Cardiff Bay Trading knmited registered wh Companies House lregistrats.on number 139049061. The Church opened to the public in April 2022 so the linancial year ending 31 March 2025 marks ourthird full year of operation. The main achievements of the year were the continued success of our heritage work Isupported by three-year grant from the National Lottery Heritage Fund), the use of ourfacilities by local communÈty groups. the continued development of the Church as a niche music vent5e, our hosting of exhibitions by local chartties and the increased use of our meeting rooms for public and private events. Much of our heritage work is now available thrtsugh open-source archives and through our web site. An exarnple of this work 15 a digital version of our exhibition"A people's story of Cardiff Docks" htt eniall .com 67c2tif33eftJa260422993a3 interattsv -content-& eo Sto -of-cardtff-ba We continue to invest in the produthon of online herttage materials arkd in the development of our web site as 3 reliable resource for schools. colleges and the general public. During the year, we 2150 obtained a grantfrom the Welsh Government to repair and paint the exterior of the Church. We continue to maintsin and develop strong links with the local business communFty through our membership of the Waterfront Partnership, local history groups. schools and the acaderrhic ommunity through our herttage work and with Cardiff Counal from whom we lease the land on which the Church stands. The lease 15 due for renewBI in April 2027, and we have obtained Èssurances that the le3se will be renewed for a further 25 years in April 2026. Ensuring an onoipg long-term lease is essential not just for the preservation of the Chur(h but for securing grants from some potential donors. We appointed tr40 additional trustees during the year. One is a chartered accountant, the other a dÉgital marketing expert whith provide5 the Board and mat7agement with acce55 to specialist expertise. Financially, we Increased our turnover in the financial year wtth our trad(ng cornpany making a small proftL but overall. we contiftued to make a loss. As a result of this, and after the period covered by this report, we initiated 3 fÈStructuring of the staff, losing one senior full-time management post and creaung a slTrgle leadeiship rDle of Commercial Managtr. In addition to these cost cutting measures. we have increased our focus on income generating activities Such as hosting private parties, communtty events such as our now very popular"Reggae Dav and wedding5. We recently obtained a licenceto FK)Id weddings at the Church and with this re-focu5 we should generate stronger and more predictable income streams. As eviden of this we have begun to develop repeat bookings for half-day and fu114ay events and our~booV' going ft>rward look5 strong. Specialist 5tBff from Creditsafe- a large Norwegian global busine55 based in the Bay- have worked wÉth us to develop our website in p3rticular rtrworking conterÉt to help achieve"search enEine optiTniS8tion- and the berkefrts of this work are beglnnlrB to Show In Increased bookings and booking enquiries.
Our café remains a tx)pular destination in particular durirÈg the wamier weather and during school holidays. The increasing use of our exhibition space and room bookings also boosts use of our café and kitchen resources. Hawng our ¢)wn café and krtchen Isub-contracted to Cardiff Caterer51 enables us to Provide a wide menu to service commercial booknngs, parties, weddiEW as well as our café customers. We are confident that we have now18id the foundations for the Norwegian Church Cardrff Bay to flourish both a5 3 financially viable business and Successful communsty-oriented charity-
ststements of FinanclaS Actlvities Income and expendFture account teslrted Fwd5 1strir Furx15 Total Tthl Funds 2024 CLYn• and other revenue 37017 Room hire 11248 11248 3942 Grant recewed 737 62737 38361 Donations 1089 Totrl Incorno 3Q937 62737 83674 79320 Expendltwe o): Raisin8funds i7) 414 1295 4211 Charitsble a¢twitie5 and administration 3639) s10 81720 Establishment costs 30416 14133 44549 24933 Total expenditwe 68525 63729 132254 110864 Net gainslllossesl on investTr*nts Net irme/[eenUleI 47588 -992 48579 .315 Transfeys beten Other r8¢cfni5gd B•11{1}.' Depreckition 830 829 Totsl itrKomellewendibJrel -Y2573 RecorKiSlationoflunds: Totsl funds broughtforward -13265 -16127 16246 Tottl fuMtsr•niedforward -61684 .3854 -65536 -16126
Balance Sheet )25 X124 FIXED ASSErs Tangiblè assets 2,391 3.221 Total Fixed awts 5 2.391 3,221 CURREMFASSEfS Debtors 6 9,268 Cash at bank and in hand 13.834 29,078 Accured Income s.4 15.352 VAT Prepayments Total Current Ass•ts 29.026 CURRE LIABILifiES TTade creditOTs8 10.857 26.498 Funds held in trust 25.464 Accruals and deferred income 25.122 3.597 VAT 2,419 -2,959 Totsl Current knabilthes 63.862 30516 Loan 33.091 39.315 NET Assgfs ILIABILMES) -65536 The Fund5 ofthe chartiy Restrirted incorne Funds Unrestricted income funds -61583 -13263 TOTAL CHARITY FUNDS -65.536 -16.126
Lknr2strirted Restri¢ted 2025 2024 other Rev2nue Room Hire 11.248 3710 Total 40.710 Gram RecefN*d Architectur81 HeritaEe Fund Lottery Grant 15352 hJd416wytrt National Heritage 49737 WCVA TLIt41 62.737 38,361 Donatlons Just Giwng Small donations 9.61 io 1,079 239 Total 249 Total IoETr 20,937 62,757 40,959 38.361 Nots5totra accaunts Icorrtinuodl v•strid•d Resit¥Ltsd 2025 Z025 2Q24 2024 Resourtes ewet¥Jed Raisi Advertising Digi£al collection plate ank Fee5JustGiving Visual interpretation 1484.19 2C62 2989 45 150 .20 1820 Total 414 2?92 Charitse aLl1¥ths and athhlnlstmlon Sèlèries and staff Costs 19.941 47811 31,694 )962 Travpl and sub&stence 773 1713 Hotel 470 Motor expen5e5 14.51 32 PrinUn& po#age, and stationery Telephone 27 no 23 staff training Legal Fees Cansulting 592 2385
Loan Interest 1995.61 ankcharges Insurance 102 103 4,5 833 4386 Sub5CriPtions Gener81 expens and sundrie5 Totsl 2159_4 1938 3.279 35 2741 36.39Y 42,314 36.818 Estabbshment Casts Lightand heat Repair5 and malntenance 9,501 19,171 5542 .741 555 99 Cleaning Rates 578 565 11.674 8656 Tot&1 3Q,416 14,133 24934 Otherrec nised Depreciation 830 Totsl 830 Total pe* 69355 70,470 41226 NBtirKoYnellexpendituveforthe year) This15 Stated after chargins 2024 Depreclatk>n 830 Accountancy servlos 583 Total L530 1,413 Esto th4 accounts lu)rrtsnu•dl TangilAefixed a&%@ts-Charlty Plant 4rvJ M•thtMry Totsl As at l April 2024 A&lr(ions 4,149 4,149 As at 31 March 2025 4.149 4,149
A5 at I ri1 2024 929 929 Charze forihe year 830 830 As at 31 March 2025 1759 175g NEt book valuo at 31 March 2025 2,3) As at 31 March 2024 3,220 Dèbtors 2024 Debtors 9.268 6,054 Prepayments Accrued Income 5.924 15352 VAT Tot 15.192 2L4)6 Cash atbAnk and in hand 2024 Current account 29,078 Petty Cash TDtal 29.078 creditors: ami)untsfallln8 the withwt Ir Trade Creditors 10,857 26,498 Funds held in trust 25.464 Income in advance 14.163 AccNals 10.959 2.897 VAT 2.419 63,862 -2.9 Totsl 50,516 Crèditcrs: JmOuntsPdnE thFoafterl year 2024 Trade Creditors 33.(Bl 39.315 83.091 39.315
I CHARITY COMMISSION | FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteesl members of Nojwegian Church Cardiff Bay On accounts tor the year ended 31 March 2025 Chartty no (rf any) 1195926 SÈt out on pages I report to the trustees on my examination of the accounts of the above charity {"the Trusf) for the year ended 3110312025. Responsibilities and basis of report As the CharitS trustees. you are responsible for the preparation of the accounts in accordance wtth the requirements of the Charities Act 2011 (he Acr) I report in respect of my examination of the Trusys accounts carried out under section 145 of the 2011 Act and in rryIng out my examination, I have followed all the applicable Directions given by the Charity Commission under sectton 145{5)(b} of the Act. Independent I have completed my examinab"on. I confirn that no m*erial matters have examiner's statement come to my attention in connection wth the examination which gives me cause to believe that in. any material respect.. the accounting records wefe not kept in accordance with section 130 of the Charities ACL or the accounts did not accord with the amnkn'ng records., or Ihe accounts did not comply with the applicable requirements concerning the foffn and content of accounts set out in the Charities (Accounts and Rewttsl Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is rjot a matter considered as part of an irtdependenl examination. I have no concerns and have come across no other matters in connection wth the examination to thich attention should be drawn in this report in L¥der to enable a proper ndstandIng of the accounts to be reached. Signed: 2710112028 Name: MIKE TANN Relevant professional qualificationls) or body: ACCA Address: Uewellyns Chartered Cefied Antants, Brc#)k House, Brook Road, Cardiff CF14 1DU IER Oct 2018