Ch•rlty rogl•lTatlon 1202717 THE CAThEDRAL CHURCH OF ST WOOLOS. NEWPORT (CIO) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) CONTENTS P4• 1ndyndt oxamth8tr8 rgF<*t Statament offinanrial •ctMU08 Balan ghgot 10 Notes to the finandal ststeménts
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) TRUSTEES, REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023 Th• tru5tgJS Prnsont tholr anrwAI roport (lI1a1 stst8mgnts fortho 6nded 31 fJoc8rnbgr2023. Th• ffnwrial ShiOnts havg beon prepwod In a(x4•rTh wlth the al>)MIlIj pol tel In r•)ts 1 to the Itnandal 8tstgrnonts and comply thè drI8 Igoyemlng docum•ntl. the Charhles Act 2011 •nd 'AcwinUng and R•porUTrJ by cha•9. Slatgrnont of Recornm•ndwJ Prn¢ti( aOkqbl• to thrltlo8 prepllty th•lr aox)unt8 In accordancè wSth ifK• Rnanc]#l Reng Standwd appe46 tn thè UK and Rewbllc of Ireland (FRS 1021. {offective 1 January 2019). Th•y Yw•.nt sots rA 8(zourfo- th• fnt b•iry for th• do¥uTO 01 th• prwbus to the >)Ih Aprfl 2ff23 and the firat ofthg now Cwty 1st May to 31¥t DKomber 2023. ThiB arose du8 to th• charity bw)nang a Ch•TiIAbl? Inrra Organlaalknn. OWctlve• and actfvhl•• Th• cathrnI Chuth of St Wcth, Noww)rt 18 Beat of the Blghcy ol Moftmtyjth and therefore the n thurth of th8 Dkncese, wllhln the Churc In wal It hb8 deep SplAoI mots and has be8n • 6paco for ov•r fffteeTh hundred ar¥ sln(kg GwynlW Sanl (St Wodos) fvunéod a place of waywon th18 Ske kn the late firth rbtrJry, l¢pAng • and callkng by CS)d. Tosay N•wort Cathèdral Is ¥ vlbmrt htyjso of prr and wor3hfp. off8rfng •n opèn and kn¢lusiv• to 811, and Traching in faNhfiJl aThJ loyjng SO£¢. Alhough on8 01 ts smalknt of th8 WeL%h Cattdrals, tt offws Inlknecy and ver6aUlhy. The obje$ of Charfty, th& Chuyd) In Wales Constliulk)n. 18 th6 pnrrth of the whde mI&SK of th• Chtsrnh, pastoral. bvangg1 wK4al and eojmenkxl. in th¥ Cathedrol. Tho Cath•Jral to walcom& and 1n898 in Ihe rbar of Je¥u8 Chtst. It rnsport(Is to thi¥ vo¢aWon In coopwauon wllh a]1 pjpkn acfOB8 thè Cty of Newport and Dbcese of Monmouth. Thè Chur¢h in Wa6 Is part ofthe Worfd¥d6AnY11¢an Communlon. Its Cor7UtiDTr defflnes M5 purpose as belrrfJ nwture men ond wcffl•n kn th• f#tth of Jows Chrlst and to thld Ihgm to grow In the folk)hIP ¢f the HY Sptrft, so that tho good nthvs of God'¥ grace m6y be dèarty pmddrned h the worfd Ihat God's Klngdom May bo honoured end advancerf (Volumg 1.. Pr&falory Nots). Newpcft CAlh8dreJ Iw8 this ¥OLatton vAtNn ltr Itle d••dg. Th• CathtyJral11 govem&l by the Cwttt. under IhIP ofthe Dn. Th• Chaptor has Allgnod ttg Stratsgk Plan th tho DIoc850 of Monrnulh w[rt- Farth h our Fuiur8. To thli Ch¥pt8r ho8 added more brnnehès - Wothlp ond Prayerf and'Mu81¢. The seven brBnches of the plan arg IheTefore: . Wor8hlp and Prayer- Thè h•8rtbgatof Calhctral . Me- Cantrd to Cathedral's IKO 8n(I wwhtp DJsdpleBhlp- Growhg mcTr Ilko J•sus . 8twMrdshlp- Lwg gs thAnlrful and geneThs pooplo . Envkonmgnl- Carfng for God's croat . Social Just1(- Se19 tougth¥to Strèngth our COMM1•5 . Equallty and Divwstty-wekon9 411 Under oath of th•58 socthns Chapter Idpntffied. In wul¥tIon vAth othern. the ar of dblngul8Nng them as.. . Corn work- thAtMwAntto cothuo and nee•J to mak6 wro Is •ntrgi4ed. . Emerglrvj work-tho ways w• wanlto frnhanea what wè do. Wkn•ro wdntto bo- ourasF4rakn£ ts èxtand aThJ deyebp. Tlw oims obipdhs enable Ihe Chaptsr to mo01 r*qreMonts Lrf p110 bèn8ft The88 alms and ot4ecUvw arn constsnt 09 tako tsh8 In ath plans and to awss thè re8ourcoJ Ihoy r•quh.
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) TRUSTEES. REPORT {CONTINUED} FOR THE PERIOD ENDED 31 DECEAIBER 2023 A¢hl•v•m•nt •nd p•rlornMnc• 20ZJ r•prg8gnlB thg firBt full your aftor Ihg ths(urbaTKe olth• pandamiG It has beon a C8the(hl ha8 r•built Bnd thekpad ita life 8nd minly. The GtaU8IL¥ for Ihh yw 11 forTn the LBe71n0 1M whth I10 dlr8ct1c& bg a8Bes5gd and m•a$ur•d. Owln9 thè yaar thè fc)(1 was around 36,00012023.. 23,lll)). The hearlbeat of th• Cath¥dral L8 it8 Ir1pTrU lrfè. IN9 ¢tinU•s to grow. In txjth thè and ¥ dlfferent sty188 when the cholr b on a br8Ak and Ihere 1$ no YThJ cholr. Thg IKurglc41 dlet waB •xpand•J al Christma8 to 8ddY8ss th• wadty ¢twwalk)n for tho FtiVal of LSon$ and Carols. wlth th8'ClwlstrnA8 Jumper S•Thic', an Ink11 Berylc8 of carots the day b•forg. We wer8 ch089n to bg on• of tho churdw to hcffjt )Thmunlty oc4 servlce lor th• Rtsyal Foundation of Ihg Prince Prfnc86B of w0¥. Av8rag• worshlppln9 #ti•ndanc8 has bo8n stabWshoMm • mod66t inerearyo an •Tage of 102 atlIr@ on Sunday3. Ten pa08. adults aThY chIldr. pr88ontpd to the Bi¥hop for Conflrrnatbn ¥1 tsyo sgrviw. In J)uary and Novombgr. Incrnas•d usa of We18h in both th& liturgy aTrJ at JpecL•l 88rdcoB haB nn whth Plygoln at EPY and Wèbh languago Choral Even81 in tknbor. The flrnt (X88n crtor81 Fothol In rgcont years was held li February, drawlng iog•ther c frcm around dlwes•. lft May we hosted H Threo Chtiirn Fe$¥84, bringlng Icygthor the d8 01 Uan¢off ond Brncon CothedraL9 th our o¥m. In May csiobrated the ICW)th ann?15¥Y of the Ty Mawr Communlty of th• Sw'ety of the S#erJ Cross li Wal8s vilh a ¥pecial sèNe. The Cor0 ol Klnq CharlÈs111 wa8 m8rkod vlth o ¢1C Bemco on ts evo of th6 Cor(xwllon. ThLs. On9 wlth tho anN81 servke and Holocaust Memortal Day, di¥plw Ihe Catheknl continwj thc prewncè. It has Èn x btssy r for and evènls. Tha y1 ho8UNJ a Ilve broadc1 ol'kny Qu6sllon6' t)n 8BC Radkj 4. In addluon to Ihg rpgular fK)nthly Mu$bSStWoolDS concerts. ¥howc85wig young mu8laa1 ftnm Ihè Royal Welsh College of Mu8ic and Drnma •nd perfonneAB from fvrthèr afield. B varfed prograrnmo has been staged. Tho LIdOn Film Or¢h•strg dEghted capaaty aUdnc•S with gitlings. The parher8hip wth St Wcolos Slnfonia brought è new inttiative thg IKuryical ienditkjn of B&ch'$ C8ntata Wachel luf, rufi un$ d9 Slnmo. on tho Snd Sunday ofAthwL A koy of thg Cathwjral's rolg tr& hosl dio(san and events. In •Jdit)n to thè annual ordffiation8 O Chrism Ewhart the Cathedral suppd th& bl$l¥Jp's MIty. We wel00rn xhoolB frvm pround DIoce59 lor Iho annual ChUh SclKM)15 y8ar 6 18av8r8 8ervic•s. a conference lor he¥Ghern and • performartce b8sed on the life afKI woth ofwilllam Mwjan. who transLqtad tho BI9 into Wglsh In thg slthenth century. We wekomed new Chapter Canon8 N3 th8 r. lan Loynd, H•ad Tracher of St Teit05 Church in Wal•s SBo)ndary Sthcd In East Cardrff. and Hannah Rowan. a nsunI from tho Islwryn Minlslry Aroa In Gw$nt Valle. Monon Cerfdwen Jamos was kn8talknd 86 Canon Thec4ogl8n OTr Sl BfvJid'¥ Day in F8bnJ8ry, & now posrtson wlthln the cadra1 Foundalon. 11 ha5 btèn a tim• of greater stabillty wMNn tha Cathedral Stsfflng. EVn0 VA wolks h thè Cathedr81 IB hbhtv d•Jlc8ted and Chapter 1$ very gratoful for th8lr commlm8nt. Chapter ij mindfvl to enwr• that rApadty is not e¥redrAI. Thè Cathedral's mi%ston and MI& r81Se8 h#alY on dadlcated volunieers. Wlthoutthe worf( ofts89 vduntsO, the Calhethal codd nolfunthn a1 Chapt•r thanks them fvr¥ll theydts. Thè R8pr88entsUv8 Body of ihe Chwch In Wales thanged th• vmy thay support cthrall flnone The new formula ha8 enabled a nIS80n of rc488 Ihg L¥eath)n of a new Caw Rosldenuary 5t, Thb VAII romblno 6 trnditlonal rol88 of precentor (40%) and paslor (80%) Into a Canon for Worjhip and Congregauonal Life. We Iwk foNMd to pergon belrVJ appolnt¢d to tsk8 up the ptsÈNltsn In September 2024. Th0 oylslkng Canon Rk1ary ro has been f[figUr0d Into a ca)n fur Mwon. both within th8 Cath•drnl and Ihe dty. ThlB alms to eBiiJtthe tongregatlons In their mi88ionary ae wel aB addr1, In wtn?r8hlp lth Mlntstykna4 th& opPortlIPS Ihat ¢ross b0darkn6 In thg dty. Thg dgnlficanl chang95 ts> th• gly¢9 d thè Cathra1 w nlidAd ag the Chaptw bem8 a Charttsble Incorpcnted OroBnIy on 1st May 2W23. Anew Cornlbtulbn wo8 brought Into atthg same Ilme.
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) TRU8TEE8' REPORT (CONTINUED) FOR THEPERIOD ENDED 31 DECEMBER 2023 Tho Ggthadrnl is eeAwnittod to worknng knwsrds Zem 8mi#si)nx dLrylng 2023 athlavwj tOnZa Award IthA Roth¢ eco ChuTth. It19 wCThJ low8rd8 8lh•r. wa¥ M¥S¥tod ty tha cr•akn of a bug IvJt•L hodothog houses In a rewllded 8edlon of th¢ grounds. Worf(8 identified in the 1n(wInn IrvJp•cfjon rnport haya been prowWl according to prfth. Th9 wo1 to the Gablo End 8bm th8 Crtnd Chopel were completed aloThJ wllh th• roof rèp8trnts Ihe pre&s1(al WBY and abng tM north sldè of th• Al the same Ilmo th• (n9 ston0$ 4ttho Eul End of Ihe chwELY)I were rep)Int•d. Tho dèterfor•iJon oftr Gthedrel IhlI10 h•8 advan¢d and refiJrblghrn•nt olthM• ha8 bo8n a8g•¥Bod, And tendeTr. Thg tsndedng c(fstractcws all r•pOr that th• WIng would need b) b& rgpk¢xd eThJ IV Lx)rtsds installJ. Thi8 ha8 sIgnlnty the co5 Grant fundkng Is tang sought, atong with the Fa pam4¢)n$ and it 1$ ho1 Ihe )rkwIll tsko place durlng thg gummgr of 2024. Extem8Yty, plans Brp bolnll s101d to ImpKve thg Ibhln9 to th8 C8th9(knl path• arKI drfvamy. Tho trAvur rBpatrs INvo bogn progr868ed with digital scann.ry 18klng pkn, d8twbd Flarts fvther swvey4 b•iTr3 trriJd OUL It 1$ hoped that th• gth•Julg of wLxs WTII i finalls8d durfro 2024 8nd tho n0¢ts8y p8 obtatn&J. Th¢ 4¢19 requlrnd th8 ¥Ailoldng that had b88n prasent for a deth to be T•mov•J. Th8 gbve th• OFporknty lo improve appearance, th boardlng and notirxburds ¥tta(8d to Improvo thè wdconw lor tho89 attondjng thD Cathodrnl. Th9 14th bBII. fvndad by Ffftvate dCa10n. w4$ In$tall•d In Oclobgr. Th1813 a rare n)mant and we re dglighlthl to bkn9 the bell durfng a spocial seNice. Tho additional bell afford8 a Trahtsr riNJ of 10. As wo11 as télng onty one (A tow8r8 In Wat9$ wlth rfng$ of 11 tho Cathgdr81 h89 gr•atsr v8tsatlNy. Tho conlknu•s to be popular vigtting rfngor Thè Colhedr81 Ctr hèa grown. 27 thori5ters and 10 probolloners #rn dwm from 17 8th001$, rèwaSn9 • Blgnlftcont arnountof work on b8haNofth• Dlrèdor of MuAk. Thls VAS rgeog8Od by th? Cathodral Muslc Trust vtho awarded ug thè highe9t grdnt dunno 2023 to Support thè knwjrtant work taklng placè. Many tsf th058 invofved ¥ tho ¢holr find (hls a I[feangIng ex[th¢?. Thelf extracurrf¢ulor a¢UvlU98 thls year inclU¥j a panc4ke rn agalnBt Blnnlr¥Jham Cathedrnl Cholr. 4ts5tlng Shrovè Tuè>J#y. a 8Wsored walk the Sevem Brld99, and produdng a Nowport Pomda fDT In¥WlaUon In tho Cathedral thJrtrNJ Advant. Thls wa8 bed on ol ncte In the dty as Mary 4nd 0Ph made their w8y Tound them to fint1 a plarA for the Christ-chlbd to dw811. 11 was launth8d ¥1 thg samg Ume as the new Forum for Ihban 8ptrtlu&llty. a Chaker knilialive In nteXt th8olc9y. Ihg urtjan sawng oftho diy ong wlththe annual Chartlsts cOntn. the Cathedr¥l h)3ted YJ nurnber (rfevents tr& SW)POrt the campaK4n for a Statue for Lady to ¥rtgd In Ihg centre. We were InvNwJ to hov9 0 Btall agaln al the NOwt Prfd8 ovwt and $ 40Ce on the eye, Th8 8lmplg knpltalty 8nd ¢ng8ggm$nt moved somè lo toar8 that th•y w•r¥ wplcomg and * was mownu Ih81 for il Ihg first tkne thoy had b68n I[ a thuT¢h Io ¥Y>r$ 8lrbr• gxpor18nclr4J In th• pasL The Cathgdral alm8 kn be Indudvo and prOe o welo)me 8Paf tr 811. Thg 0oBn"vl8hd our Unk DIoco09 Ond Calhodrd of The Hlghvdd In SoulhAfrfcg In Novamber. Thlvj thg firnt vtslt nce before thg pArMne And rÈrth%d the bonds of fellowshp. Wo pray for thg dloc•se every (ky al Momlng Praypr, as we (k> for the vthde Anglkan Comnwnkln, cntr own dlLW? and the Welsh Cathodra19. We al80 oui cycfe of prbyer to prnyfor thè Cath8drÈl tsJmmurMty and IirD. Thè Cathedral conmunty ha6 8 paB8M forjustie4 arttl gcrtlal carn. 1$ d18p1a through SWJF>t for refugees, focrtl h)gOI 1Lts In k)ral Kot48, Ih? loodba aTrJ ffi6lon ts tho hDmgbop. Tro C8thadrnl Ivtgd A IAIND WFPOrt gTQUP. rngt In lh6 hdl. The Congreooknal Commltt•e ha8 ¢Inued to meei thrwjhoui th8 a eAMVBgati¢Jnal ¥c#e• t>r tho promotlon of the Cathgdral gJmmunW8 Irf• and mlnlstry. A communteatitins L¥JmrTkn contlnu86 to Iwk at ways to op and Improvè tommunlcallons rflhtn the Cathodral and to tknsè vl41. CommunNy I has bo•n a88ta through lh6 rA)ff•o momlk¥JS and th• M * h C8th8drnl nIn88 to be On day fffjm Mornlng Prayor unll Evoning Prayer. Th8rn Ls a thdy flow of pBopl8 comlng kn to ¥lBII li pray. )Ind a rfll Spo kn ¥thls * 4t. or for a891gtan¢o 8nd firntiro an cyn welo)me.
THE CATHEDRAL CHURCH OF ST WOOLOS. NEWPORT (CIO) TRUSTEE8' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Flnandal rwl•w R•r Poll N•wport Cath91 recognises the need to hold rB¥orw to ensure fund8 are availa• lo provlde conlThJlrffJ rn188lon 8hould the Inojme levels fall. RvBgrves are ID meot fubjre moinknance proaramme for the c9thrat arKI Churth buildinoB. Th8 Chapttr hdds In free Teaerves. ¥ufflrJe>nt lund8 to (thr 6 month$ of th8 r881>urcw expendod li Yra1 fijnds, At thts level the mgmbefs of the Chapbr tht Ih•y be atle to contwiue the cuffent of the Cath[1 In the event of a 31BnlTrcanl drop In fundlnu. It nèra8gary to Ider h(w thg lundlrwj woultj bg Toa¢ad shoul¢J Ihls happ8n. Thg1gvg1 of fr60 Tesorvgs of tha charity 8xdudirvJ inveslment Fyopertiès. $trIcted and deslgnated fvnds arnountB irKludirvJ thg 8mount transfarred to thè tharfty from th8 uninDJrporabJ ¢harfty or Th9 Cathedrnl Churth of St Vrfoolos, NgwpNt, ¢ty Numbw 1133935, h £840,302. Ro$uIt• The totèl reWUr tha 8 rrthE 10 31 Decwnbw 2023 re £1,988,707. Ex¢twling th• transferfrom l1Ty)rPjrat tharlty noted above was £213,329. 1gV8t af direci K4untary o)ntribubon¥ #l eath aci of w(thp, dud1rJ tax rwjalmed thrw Gfft Ad glvlng amounted to £48.507. The level of 8xpèndKure ¥nwJvntsd ID fJ20,508. The Mlnlstry Share payabb 8mount•d to £48,050. otinati5 an mi55ion paym•nly made during Ihe 0d amounted lo tIO.512. the fur#Js for whith tArè coH8cl8d dumg enher r•gul8f or 8p8dal s8rvlceB. Thè da9nated fijnds indud? 0¥tIeS withln thg Cathèdml 1.8. Boll Ringers 8nd Sory#l Gw. all fvnds used by tho actmty groLPS are retoined for Ihglr u80 but 11 be retumed lo g•naral funds upon ¢s58tio of4thty. Inv8Jtm•nt pollcy and obJ•th The Chapter has invg¥1od In speclallsed unlt Injsts. do$nad fcf Iho tharity ssctor. Th• Chapter hag takgn #o¢Wist invtsTrent ethce regarding iha Inve8tm8nts they cnntrol to maxkntso inccm8. investsd in lin6 the Ethic Investment c¥llerla ol the Church In W¥$. Fund8 Invosted Inchjdè sU[uS lunds aThJ th08e 8pocificdly 9td or bequeathed. Som8 luEKl¥ ba4ueathwJ are hold by lh8 RawantAl8 Body of Chureh In Walos Ivho art as UstLJ tru$tee$, Stryctur•, gov•rn•nc• and managnt Govwnhig document The Calhedrnl Chaptsr Is psrt of the Dic¢gap of M0mouth within the Church In W4195. The Church in Wabs 1$ 4 Prwlrta within Ihehngllcan COrr¥n[Cffl and, es Buch. eKsts to aowancg tho ChtstHn Rgligion through Wd-id9 rnlBs[. Th¢ tsbl•ct cl tho Chapter to wsure th81 the Ime and WO ol th8 Calhedral helps ¢0 fulfil that rnlS8lc. both kncally rrwo wldgty. The Chaptor bacAm& 8 Chertiable Incorporatod Organ6atlon thrirvJ the y•ar. Thls tught q constthtwjn and rogulaflon6 tha PrQu9 ones doted 12th Aprti 2018. It Is dso rewwd by Iha Con8tlbJlJon of thè Chur n Walès a8 amaThJed from time to tlmg by Ks Govorrlng eody lèt up under S•ctton 13(11 of W•lsh Chwth Act 1914.
THE CATHEDRAL CHURCH OF STWOOLOS. NEWPORT (CIO) TRU8TEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Membwg or ctptsr org •ppokntgd In OId0nc¥ vAth Ihg nSulU110n. are ele( by th• Catredrnl fA)noregatlon 88 Caiwml waen8. Oiher8 ar8 drnwn from Ih8 Dloce8e. Al perstsns ovw of 18 088 names arn •nt8rnd on th& Catr Ele(#oral Roll are •nOUed lo vots and thoso ovar 18 aNglble lo stand for •otkn Os Caifth81 Wardon. Thg R•prwiThtath Body of tho Churth In Wal08 hold& knd And piq)wty of tho Chureh In wal InrknlNd St ooto8 Cathedral and olhpr IWIn9$ the thurthyard and contents. The Itl•$ lo numbers 9 and 10 Road arn held on ChBptsrf8 tjohalf by ts Rgpr688rttakn Boty. Thg"Rgpre60ntatlve Body Is an ernpt Chaty 8N1 wa$ ot up undèr S•k>n 13<2) of ts Wdsh Church88 15114. It octs on behalf of th• PrpvkK In Pn9 Ihe sUpoThJ8 ofth8 fulkfjme dPy. and adrnlnl8te Churth In Wal8B of covgnonhl and gtn akl gmng r8¢>Jbring lax on half of th• parlslms. Calhedral ar& paKJ through Rspwentad4• W a1 Org8ffjl•allon41 stru¢ The Chapter Tr¥pon8bLg in¢er4li• the mi88KJn ol Cathedral, the Wet and all expendkure thgr• undw, th• c4r• arvj malntonanc• (l tho Cathodral fabrfc of th• grounds, for on any 01j mattgr retsFr•J to It In &rAnO wNh lh• corAtitn. Thèr• L a ConorWlon81 Commmtee, et8¢d by thè AnnuAI of thfr ¢))rgregal'Th). has no 1clon in VernanCe but a(8 as a veh6 for prntIng the Ille and mhlity of the Calhadrd. Th& Chaptsr dalè9atès Iho day-tw admlnbtr•tton of the C8lhedral to ihe Chlof Op•rntlng Off¢•r, r•F<>rtB Its lh8 Chaptsr thIgh attwJdlTVJ Chaptsr rna•tln. tho Man•3•m•nt mgpyng &nd lh& D m•etiry. th• rwiknr moattngs oflha CIMptwa•v•ral wmmth•8 m•8t to suprxytl and Indud•: . Management Group cOnsn9 of the Dean, the Redentiary Can0 thè Cathedral W4nn5, thg Chtol OpwatirvJ Ornc•r and the Dlrettorof Mwb. . Djary Manag•mant Mèètlro c4$ng of tha Dèan. thè Rasldéntlary CÈntsn. tho Chlef OFwaUnu Offlcer. theAlmin15tratorand Events Cth)rthnatorand the Difyctorof Mvslc. . FIce CorrffiKtse 01 thè Dèan. the ChlefOperJllrg Olfitw. IhrBe mgmber3 of Chttotr. . Fabrfc &)mmlttag 1>)nslJllng of tsvo membgrj of trpathor th Ihg Dean and th• Chiof Opwa l)fflcw. aThl the Colhedral Archlknt Is Invlbj as need arl Rl•k M•Mg•m•nt Tho Ch8ptw18 condudFng a thcrDugh rnview of risk3 and noc0ts8ary mlogatlng procdur•s a8 th8 n8w govgrnanc 51w¢lur• Èmb•ds. has been sought from lThlynd8nt examlnlng aecountant. The rtsks fadng th6 Charlty Indude the 8lats of repair of Ihe CathedTrl, which are beiTrJ mel thrOh the archft81s Qulnquennbl Inspecbon and •n$uln9 8th•Ied worka. Th18 IB fcfftiing the b8918 of the eon8orvaOon pkn. Durfng thB yw repalrs r arrled out wlth th• first pha9• of morè slgnrfkant rnpaks ar c¥Jn2•Nalon *Drk¥. Thg 4r• ty.tha Flnance Commlttee wlth the noc4ssary rEprn9.
THE CATHEDRAL CHURCH OF ST WOOLOS. NEWPORT (CIO) TRU8TEE8' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Reftr•nc• •nd Jdrnknltrntl¥• knfomiAtlon Appdntsd on 20 WI 2023:. Very R8VgrÈnd l Bl& Can R Canon F Fknva Canon P Lea Re¥erentl C8nonAUghlbown Carton l Loynd Re¥8Tend Canon M Owen C¥rKJn C Walsh The Vww8ble J bMllam8 C8non C Woolard C8MJn H Burc. aEWnied 01112023 Chlof Opornwfig lJlll¢•r Mrg P Co Kty M•nao•m•nl P•rnt)nn•l MrsPCo MS E GlbblnB harlty numb•r 1202787 p1 addr•8• The Cattdral t)fflr 105 Stow Hi CASNEWYDD NP204ED Ind•p•nd•nt •x•mlMr A2èts S•NIcg Tr Derw Llme Tree Court cardlff Gats Bu¥lnèss Park Cardiff ¢F23 8A8 Bank• NaUoTh W•stmlnst•r Bank High Stre81 BIrda Bonk Comrww Stregt Lbyd¥ B•Nk Commordal Slmt Newport Sant8TrJw Bank Ewm8 Mullen StAnn 8 Gats Ltd Thè aose &qlIstry P812EB
THE CATHEDRAL CHURCH OF ST WOOLOS, NEYIPORT (CIO) TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEAIBER 2023 Ir•1mnt RBC Brnwkn t)aWhln 5 Cajlaghan Sql Cardmf CF10 5BT RMayn8 B•nU8y 3 Welllngton Plae• Leeds LSI 4hP Janus Hend8f PO Box W)TJ CM99 2WB Th8 tru#, r•pc#twa8 Ir0¥I by thè Board ofTnthta•8. Tho Vary R•v•rend l Blaek
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CATHEDRAL CHURCH OF STWOOLOS, NEWPORT (cio) I rewt to the trustees on my examination of the financial statements of The Cathedral Churth of St Woolo$, Neort {ClO) (the thority) tr the period anded 31 Decemb8r 2023. R8spon$lbllltles and basls ol report As the Irusleets of the ¢harity you are respolbIe for Ihe preParan of the financial statements in accorflance wlth the requirements of tha Charitie$ Ad 2011 Ith¢ 2011 Act}. I r8port in r8SP8d of my 8xaminth.on of thg charity'$ financial Statements carried out under secaion 145 of th9 2011 Act. In catyng Jt my examinallon I have followed all the opplicable Direction$ given by the Chartty Commisyion und&r 88Ctlon 145(5>(b) ofthe 2011 Act. Ind•p•ndont oxamlngrfs statomont Since the charity'8 gr08s Income exceeded £250.000 your examlner musl be a memt¢r of a body listed in section 145 of the 2011 ACL I conflmi that l am qualthed to undertake the examination because l am o membff of The AsswaK)n of Chortered Certifi&J Accounlants, 18 one of the listed bodie8. Your attenlon 18 drawn to the fact Ihat the charfty has prepared finandal statements In 8CCordae véith Accounting and Reporting by Charkti88 prepaiing their accounts in accordance with the Financial Reporting Slandard applicable in Ihe UK and Republlc ol Ireland IFRS 1021 in prelerenee to the Aceounting and Reporting by Charitses= Slatemenl of Recommended Practice issued on 1 April 2005 is referred to in the e>lant regulth'ons bul has now been wlthdravm. l understand that this has been done in order for financial statements to provide a true and fair vigw in accordance with Generally Accepted Accounting Practice effectlve for reporting perfods beglnnlng on or after l January 2015. I have completed my examination. I confirm that no Matte have come to my attention in wnnecticfft with the gxaminolion giving me cause to believe th8t in any material respect.. counttng Tecords were not kept in respect of the charity a8 required by 88clion 130 of the 2011 A¢t', c the financi81 statements do not aecord with those records,. or 1he financk91 statements do not comply with the applicable requirements Conrning the form and content of accounts sel out in the Charities (A(unIS and Reports) Regulations 2008 other than any r8quiramenl that the accounts give a true and fair view which is not a matter con8idefed as part of an Independent èxamination. I have no concerns and l)ave come aosS no other matters in connection wth the examination to which attenllon should be drawn in this rewrt in order to enable a proper understanding of the finanGial statements lo b8 reached. Joanne Taylor FCCA D¢hA Azets Audlt Servlce8 Ty Dgrw Lime T Court Cardrff CF23 8AB
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) STATEMENT OF FINANCIAL ACTMTIES INCLVDING INCOME AND EXPENDITURE ACCOUNT FOR TIIE PERIOD ENDED 31 DECEMBER 2023 nds 2023 nd• 2023 DOnaOn5 and f8gack88 Charltabk 8cNtkn• Inve51ments 1.360.943 61.083 22.675 12.208 444,496 1.806.438 60.543 121.626 4,560 27.435 12.208 Totsl hK•m• 1.457.109 so9.6 1,gW707 R8lslThJ funds 4.962 Ch&rliabbB acl 185m9 130,017 315.540 Total w•ndltur• 190A91 130.017 320.$08 t galn8llknB8a81 on Inents 12 5.274 13,096 N•t I1)19 rnsourc•¥ transf•rn 1.274.440 3B4,855 1.659295 Gw transtsrn b8iween fvnd (10,480) 10,48 Nrt movement In lund• 12e3. 396,335 1.859295 FUNI WarKo5 al 1 May 2023 Fund bwlan¢•$ at 31 DK•ml>•r2023 1283.960 395.335 1,85S,295 Th&stateml of )Inanctal a¢AvlkJ kndud6s all grJn3 aThJ foM•¥T?cwld In the wlod. JI Inc4mo ar•1 OxpMd1Q dfjrfv• frorn
THE CATHEDRAL CHURCH OF 8T WOOLOS, NEWPORT (CIO) BALANCE SHEET ASAT 31 DECEM8ER 2023 Flxed a¥••t• InveSlnntprrwrtY Inveslm8nts 14 lj 420.000 800,038 1,220,038 Curnnt u••ts StockB Oebts)rn Co8h al bank fthd In hand 18 17 5,913 470.967 483.770 (44.513) Gr•dltorn: amgunts f4llng dv• vthhln on• yeir 439.257 Total a8set• le•B cwr•nt Il•biiiif•• 1.659.295 In¢orn•fun(IB R•stricted knnds 19 395,335 Deslgnated knnds GeneT81 unre81ricted funds 20 3.657 1,280,303 1263,960 1.659,29S The finaFKlal ststements wwe apprtsvsl by1 Trust8880 The V•ry R•v•r•nd l Bl•ck Tru•t•• 10-
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) NOTE8 TO THE FINANCIAL STATEMENTS R?R THE PERIOD EhlDED 31 DECEAIBER 2023 Account ppJl¢l•• Thp Cathedrachurch ofStWooloF, NOwrt (CIO) * 8 chwElab IncorF4Yqtsd org#nLsthn. 1.1 R•portlny p•rfod Th• charSty was r8glthr¢ wxh th• Charfty Comwlo¥k)n 20Aprl 2023. The accolg IB for Jht months from 1 May 2023 b) 31 D•r8mt•r 20a Tho sl•t•rn•nb b••n pr•Fwr•d In thg [9Dvn9' documenu. th• Ch?th1g5 Ad 2011, FRS 102 Tr Firbancial ReF¥)rtkng Sbndord opplcablo In the UK Republic of Irejand. fFRS 10T) and th• Charit$ SORP A¢o)unliNJ and ReFQrtlng by CharitigB.' Stat8m8nt of Pr8d¢è apr4kabkn to praparfrg thalr arx%Junts In a¢C¢TwKo yth tha.nandi1 R•ptrttng StBndArd applicablo In tho UK R8publlc of Ir•L•nd IFRS 102). l•ff•cbkn) 1 J•nuwy 20191. The Is a Publlc Bonofit Enoty as dnad by FRS 102. Tho (arKy haB tak•n advantsgg of th• provknhyw In th• SORP for fMrtNbts not to weparo o Stsknnt of Th? flnanc4al otatom d•part•d Ircm Charllle8 IAethunts and Rap)rt81 ReItiO 2(108 gnty to thè ext&nl requir8d to prDvidg ¥ trug and fair vyow. Thi$ departure haB Irkvolvod fclbwlng tho Stalomnt RèLmmgndEd PrgCtt8 for tharhle3 appng FRS 102 rather th8ll the vèrsron of thg st818rnt of Reo)mrned Praclce whkh18 F818rf•d trj In th¥ Rju10$ buil)ic BlrKg t4gn thrawn. Tha fin8nclal statèmgnts are p¥epared In s1r, whlth 1$ tho fvnclknal curr•n¢y of tharfty. amowts In theso flnenclal statoments am ftded to tha neÈrast L flnanclal slatèmènts ho Ixen wepargd und8r thB N8lorfcAI t))8t wnvènllon. rnodlThed to Indkth th• rev8lua1 of freehokl propwues and to Incbjde Invgstment prop$ 8nd ¢grta5n WnanrA41 instrwnonts at f8lr .¥fjluo. The occounlro pollchs adoptsd 8re 8et c¢ tdow. 1.3 13olng v)nc•m At the tlmg of appr the flnanclal statBment6, tho IDJst885 havb a reaBOnab exréet8Uon thot th8 charlty ha8 adequate re8ource8 to ¢ontlnu8 Sn operalefid $tence for th• fwa¥ae fiJiur•. Thu¥ Ihe Ints86 conllnuo to &thttho gN)irKJ cen(m ba¥lB of 8¢uunlln9 In wpparfny thB flnarwABI Blatom. 1A Ch•rlt8bl• fund• Unro8trtct•d fund% aro av8labl8 for al th• th• trt In furthera4 01 th8tr rtrttob R•strtctad AubJ8¢t 10 ¥rall¢ crd1c by donots at to h¢ m•y btr ut. Th• purpoms And uBe¥ ol thg To¢t•d lundB 8Ot out In Ih notys to Ihg flnaNI ¥tatsment& EndovThnt funds rd• subl•ct to by don that tho capltsl Must bo rrdntsln•d by th8 dwrfty. 1.6 Incgrn• Incomo Is recognw when charfty Is Wlty kn110ft8rsny p•rfonnance condlttr4 have been nrt the amounts can ba mèasurèd rgltabty, il probablg 1Ce 11 bfr rOTr1. Cash donalon• are r•eognlaod rfjcglpt don•UoM 8r• r•c4n160d onc• th• rtslty haB boen nolflJ ol lh• dOti0ft. unbss pgrfornanco CLsndilions requlro d6forrdl of tha 8mounL Frme tAx IvaNble rdallon to donations r81¥•d under GrfiAid ordoBds of Lyjvenant i¥ rgc4nl¥gd at Ihe tlmg of tho donauon. 11
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) NOTES TO THE FINANCIAL STATEMENTS (coKfiNUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Accountlng polld (Condnu•d L•9acles are rncognised on r8rAipt or othe8 rf Ihe tharfty has been nothled ol an thp0J19 dktslbuwcffl, thts amount L knovm, 8fKI recalpt Is ?xp¥d•d. If lh8 amount Mt krA. the legw IJ trted as a conbngènl 8sseL 1.6 ExWidlr• Expondilur• i8 rwi8ed On th•w IB a 18gyI or ¢onstrith oblwtlcfft to Ir8n&fvr 0¢1¢ benefit to thlrd party, 1115 probablg that a transfer of b&n•fi 11 ba raqra In etUerf and Iha alrn1 of thg ot4lgatlon ¢en be wBasured ffj11ot4y. Exwidrbjre i& ¢l•ssffied ty acuvity. The cgsts of ch acw madg up of the Icrtal crf di[t (x)sts and shargd cpsts. Indj1j sUPWt wsts Involv&J in undèrtaklng activity. DIT ¢asts attrlbulat4e to u ¥hg acllvity are allocuted dkecuy to that aty. Shor8d (y)BtB whid) contrfbul• to more than on& acfvlty iupport costs whlch are not attrftJtable to a Sinolè athty are appNllon6d botren ltrnso actithtkns on a ba&1$ c#¥14tsnt vAth tha use of r?ur¢8£. Central staff allorated on the ba$ of Ume spen( and d•PatIOn tharg&s arn olloc4bJ on tho N)rUon of the osB8VB UBO. 1.7 Inv•¥tm•nt prop•rty Invsstrnvnt property, whh Is PfOFerty hekl to ¢8m rental8 andlor for c3pit&l aF¢)redation, 1$ inlbally rewgnlsèd at C08t, whlch knClUd tho purchase COBt and any dItty 8rtrfbutob¢e expendlturè. Subwuenuy it Is m8asured Jt fa valuè At the repn9 ond dat8. The or dt on lgvaluallon 1$ reo)gnlg8O In vfrt or10g9. 1.1 Flxgd M#t In¥•th•nts Flx8d assol Inve51ments art Inttially maasured 01 Irn5bon pre eXJIre tran8aCIL wst4 and 8r¢ subsequenuy m&è$wed at tslr vae at oach rèF4Jrknng datè. Changes in tair walug are r¥coyrls•d kn net inwrfdloxpenditUTo1 lor th8 year. Transaction are exnSed as wicutted. 1.9 Sto¢Jk Sl(th arg stst9d at thg low of L¥>St aTrJ 98lirnJtad aelling prlee k86 0)sts ts ¢¢mpEets and s811. C1 compn'ses dtr•ct m8terlal3 and, wher6 appUc4bl8. dlrect labour and thos• overhd$ that h8Y8 boon in¢uThgd In brkn4ng the $to¢ks to Ihelr presonl Ilxatn and condiiion. Itom¥ held for d18tribution al no or rthilnal consbJer•llon are rma5uTj th Iowgr of replargmgtst ¢ost •id L))sL Nei r8all8ablo valu Is th8 66lmated 8elllng 1( all cmts of ¢cPIe¢v)n and ojsts to b8 tsygd In rnarknung. ¥olliD9 Ind dlsb>utton. 1.10 CA•h and ¢a•h Cosh and 8quivalonl8 ide ca¥h in hand, deposlts h¢td at call wrth bank6, othgr $h¢)rt-tsm lIqd I5mertts odglnal mturilio8 of thT88 mtsnlhs orloss, and bank 0rdIAftS. Bank overdraft8 shown ithin borron99 In current liabllll¢s. 1.11 FlnAndd In8trvment• Th• tharfty ha8 eiectsd to p[Y the wovlslons Df S8¢bon 11 '8•6K Finan¢tsl Ingbum•nls' and Section 12 'Oler Flnana4 In¥lrnments IB8ues' of FRS 102 to all oflts finanL¥al Instrumgnts. Fin8n(x•l instru1ants are r8r¢gniséd In tho ch8Tty$ baLqn¢e sheet Ythen tho ¢h*lty 1)OC4)m8B party to Iho ClaGl1 pMW$knng oftha Instrurnerrt. Flnand41 as$8ts And Thabllmth 4r0 offsèt. th th8 net amounts prn5errted In the ffthanci81 $18t•meThts. when th•ra L8 a leIlY ènforc8able rtght to set off th& r8¢ogned amounts and thern an Intsnlknn to 39tU¥ on a not ba81s orto T186 tho 888et and $etd8 th8 IFabUIty Muaneously. 12-
THE CATHEDRAL CHURCH OF ST WOOLOS. NEWPORT (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Acc4119 pollcl• (Condn Ba¢ financ a88&ts, wN¢h Inclutts dgbtorn and 8nd bgnk bthnce8, Bre ItIOnY ma98ured qi transaction pric Nlcludiw transaLon costs and ere 8ubswonUy rned at amorl8•d co8t USINJ the 6ffsc Irrt8r¥si mothod unlw th• aff8ngwn8nt ty)nJtitsrtoB a finr¥j fr•n90¢llon. th•ro tho IransaC1 measured at Iho Prnt value of thg future rec4pts dix¥)untsd •t ? rn4wkgt rate of inter•gt. Fknon&g1 #$80ts dassw a6 r0bI•rflhI ono y•ar aro not amortls" •J. Basic finan(aal liabilfd&8. Induding crethtors arvj bank loans ar• fftitlat ro¢ty3ni88d al tran8aGt[ Pri¢8 1he arrartrdernenl constlbJteB a ftnanclw tran8adlon, tho ttsbt InBtNm8nt 18 #t th¢ pr?5t lue of the fulura ents discxwnted at a mfjt rnte of InieresL Flnand•l118bllNw dABsIAed aB payablo tNn one y•ar are not ?mortiJ•d. Djbi Imtrum•nts •r• subwiu•nty'c•nbd •t •mortW c••L u8lng th• •ff•tll¥• intsroBt rate ntTrKXI. Trthrt• crgdAorn ore obb'g•Oor¢a to goods or s8c¥S that have been acquknd In the ordtsy r6e of c9ero0D from 8uppllern. Amounts F4yaN• ar• dAssffi•J a8 tyJYrènt l8bilKle¥ payment18 due wthh o ybar or loss. 11 noi are pr•g&knd a$ nWJrr0nt I1•IlU88. Tr8de ar• rntsjgnknad Inalty at trnsaclhJn piwx and Bubs8qu•nlly mSUr8d atanKjrtlS D)St Uslr¥J thè effacilvg Intgrest rn8th1. D•r•Mqnltlon ollln•ncl•lA•bllld Flnandal IlabllltbB are d8recO3nls Ythgn the wntsathal gbllgatkn$ oxrAro or dlxtsrwj or Illed. 1.12 Ernpk4y•e b•n•fil6 Th? 81 of any unue¢d holpyay lIOrn0n1 1£ re0)gno In tho pw)d In vthkh the employee's are Ton8CL berth ara r8cogni88d imm&latdy a8 an 8xpens0 when Ihe chwlty Is d•monstrably oJmmitte(I to tothnot8lh• wntAoyTnentof an •mplw• orto provklo temdnakn benefits. Crluul 4¢¢wnUng r1Mt•8 •nd ludg•mw ln tre of charfvs acp)undng potld8s. th• tt¥05 ar• r•qthrod to mfik8ludg•mentg, wfjmoteo and 8boul th8 (4ng mnl of 8ssets ond 119bnl1l that Arè not readi apparert trofft 0lh8r s)ur(s. Th6 e8tim8tes arpj associatsd assumpurffls are bauod on h15toric•l oxpwn¢o and 0th8r fath Ihat P l¥]ndwBd ID b8 ml8vBnL r8Bults dlff8rfrcffl th8 osUmat•s. The 0stlrnots& aTrJ underfn9 assuniptbns arp T¢vlth%d Lm an ongolng bath, b) a(thunllng estimatgs •# rvc4>gnistd in th• p81irJ In thld) th• •slm8te is Sed vther¥ ths revi0 affects that rfod, or kn th6 ptrdod of tr MTrA$h)n ld fulur6 F•rfod8 tha r•vWon afft% both cwront futsjro rlcl8. Don*in• •Nd l•gad Total fvnd• 2023 2023 Donalons arKI gMIs 1,3eo.943 444.495 1,805,438 13-
THE CATHEDRAL CHURCH OF ST WOOLOS. NEWPORT (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEAIBER 2023 D¢n•tloM •nd kngacl (Conllnuwl) Donatlom and g1ft• ttiOn offund¥ rnc•W from The Cathedrnl ChuTth dst WfKilos, Nv Oonatlon6 Gfftd Share rabat• 1.320.180 37,211 433,199 1.7S1379 11. 48.SO7 2.561 1561 1,380,943 444,495 1.80&438 Chrllabl• •¢d¥ld 2023 F. acfvtho8 and shop in Grants 14.873 102.582 4.171 Inlm8 121.626 Analy•l• byfund Unrostrictgd fur$ R88tri¢knd fvnds 81,083 0,543 121,K26 Inv•#lm•nts Unmtrlct•d Re¥trlctod fund fund Totsl 2023 2023 Deposll xounl witemsl lfto)rn• from listed InVe8trnts 4,306 18,569 23,129 22.875 27.435 14-
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) NOTES TO THE FINANCIAL STATEMENfJ (CONTINUED FOR THE PERIOD ENDED 31 DECEMBER 2023 Oth•r InEom• 2023 othor Incorng 11208 R•l•lng fund• fund• Chttrltsbl• actlvld•s T•tsl Cathedral Tunnlng costs Shorn P8ym8nt MIOTr and glvlng Cath&Jral renovalon Sts Calh8dral genoral running Legal and protss8tonal f•os .974 48.050 10.512 1.878 14,850 12,114 311,(46 Sh•re ofgovemance 91 315,548 AnatyBl¥ by fund Unrgstr1&odfurvJs R•strlLted fijnds 185.529 130.017 315,546 15-
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) NOTES TO THE FINANCIAL STATEMENTS {coKfiNUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 8ppOrt ¢o¥ts Support Ggv•rrnnco 23 IndendIn1 Ex•mlr•rfw8 Chartsble ac1vlS5 4.SL¥I 4,500 an costs Indud88 paym1$ to th¢ I0p¢nowbt 8¥amlnw Lrf £4,500 for the wopar¥tion and lThJepend&nt examiwtkn of th• tha$ finencHI statements. 10 Tru•t Nonè of 1h• Iru8ts88 (or any perso Cne¢tod wmh thwn) r8c•i¥ed any rernunorallon or bènoffts trom 11)0 charfty durfng the wr*)d. No trukn W•M r•imbJrsed forexp]$o& in¢wrred duing Iha y•#r tOtsIng £nl. 11 Employ• The awrag9 th[Y nurnb8r of0mpbyS dumg the pwiod waB.' 2023 Numb•r Ernploym•nlGosts 2023 Wag68 8alarto8 83,662 Thg manwmont pownnd of the drity arg uul in th• trust report. The remunerati¢m paid rduding elm0Ye8 national kn¥urnncè and •mployerf8 pangn contributlons lotslfru £45.856. Thwo were pYb Jnnual r•muMr•tton wa8 more th £,000. 12 N•t galn•lllo•wl pn Inv•NtmDnts Tot•1 2023 2D28 2023 Rovabjation ofinv8thents 7I22 5,274 13,098 16-
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) NOTES TO THE FINANCIAL 8TATEMENT8 (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 12 M•t gal1018) on Inv••lnTht• (Conllnu•dl 13 Taxadon The ¢h8rty1g fY¢n tax on In¢om& and go1 Idllng wlthln 8o¢tk)n 505 of the T¥£t 1988 ors8 252 oftheTaXatlonafCargb8 GalrffjA( 1W2 to the extontthatth•8• ara #FlAd lo Its objects. 14 Inv•th•nt WOP•bty 2023 Falrv•lu• Al 1 May 2023 IdNkTh through eXtla1 aL4uIBld At 31 2urJ 420.000 InYeBlment pmperty ctynwlses 9 CIIftM Roa(l. and 10 Clfton Road Ne(L Th8 valuo of the IrNeslm•nt PPtyty has wrfved at on the ba3E8 of B Yalua¢kJn rrrlad out by Lkndls Property Conwllanls on 19Augt2. Th8 to Iho prop8rtsB are wlth the Representth Botty ofthe Churth In Wal8$. CaBh In Totsl Go•1 •r ¥u•ll()n At 1 May 2023 Addllknns Valuallon dw88 Dkpowl8 929.224 10.832 1148.$681 8.548 937,772 10,832 {148wei At 31 December%)23 791 hgo 800.038 Crylno kniounl Al 31 0Mbr2023 791A90 .038 16 8to¢ko 6.890 17-
THE CATHEDRAL CHURCH OF ST WOOLOS. NEWPORT (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR 7HE PERIOD ENDED 31 DECEMBER 2023 17 D•l*orn 2023 Amounts falung du• wlthln on• yw. 011r dobtr)r5 5,913 18 Crndllm: •mfWnt• f•lling du• wlthln t)n• y Omercr8dlicq¥ 44,513 18-
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THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) NOTES TO THE FINANCIAL STATEMENT8 (CONTINUEDI FOR THE PERIOD ENDED 31 DECEMBER 2023 20 DMlyt•d fund• ino)rn¥ funds of the thwSty Indudè th8 folovAng dojlgn8twJ whh ttavo ba•n •sKle oul of unt86trkagd fuNls tru¥loP8 fur w8dfi¢ wrpo8•8.' moV•nI In fvnd• Infunth •t mlw R••ouro•B 1 VAy2025 m¢ur¢•s •xp•nd•d Bollrfngers 30 Scfflethlryv chiren5 arvj Youth M( ,3901 11,lJ901 (4931 3.851 14,630 14931 110.4801 3.e57 dg¥bJnat8d funts rnprosarrt group Y411hln th• cathedrnl. T funds are de¥hJnat8d ts the us8 of the gTWPB thg othlty wrfnuos. OnrA thg aGlvlty ¢•Ag•J. the fuThJ• r¥v•rt to tho Cathrat g•neTal Bellrirys ftmd mwnbèrfs ntiibUtiorrt fLY 6podfie expandr0 relallnp to Bel Tower. Tho Xl Som•1hkn9s fund Is a fuThl for Férf8h nNmb•rs. Tho ChSldr•nB ond Ywlh Mtson fuTrJ18 made up ¢ffunds (k)noted from thp Glrts Brfdgado wn k Sed 2021 and other funds recalved In 2021. Thls betw for Chlldmn and Youth miMiorw. indurfin9 thty toy 21 AnaWl• of n•t lets b•lwD lund Unrw¥tiitst•d De•lgnated R•#trict fund# nd• 21123 Totsl 2023 2023 Fd balW•9 8t 310o¢•rnb8r2023 A re8enled ty. 420.0(KJ 443,872 3.431 420.000 800.038 439.257 358,186 39.189 Curwt 892•tlablll$I 3.657 1,2,303 3,B57 385.3 1.859.295 21
THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 22 R•lAt4d p*tytranM¢tlon• ThTg8 trusts98 org also tnJ¥leg8 of Ihe Ropros8ntsfv8 Body ol the Church kn Wales who have provljed gr8nt tundlng to the charfty. The tnjslees ecM are not Involvad kn Ihè dedslM maklng th to thg IBvel olfunding $¥L SIX of Iha In•$ are also truslae8 of Iho M0nnUth Diown of Fln8n¢e kyovide grant frthidlng to dHll'ty and rKofve rnlnisty 8haTO IrTr trn the charfty. Thw tru•t98N w ofts Dkwan Inv•slThnt GrrNp. Wtth rega lo th¢ tnkStee5 who 4r9 of Monmoth DIoLwan Bfwd of Flnancg, one chatm arnj a sect tnJste6 is • menknr of the Budget Cornnth that r8commen(J8 th6 Iw•l of sharèfor all tho mlnlsty ar8a6 and th• Caththl In th8 doe•s•. -22-