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•
1ndynd￿t 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 ￿￿(lI￿￿1a1 stst8mgnts fortho 6nded 31 fJoc8rnbgr2023.
Th• ffnwrial Shi￿Onts havg beon prepwod In a(x4￿•rTh wlth the al>)￿MIlI￿j pol￿ tel In r•)ts 1 to the
Itnandal 8tstgrnonts and comply thè d￿rI￿8 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 Re￿￿ng Standwd app￿e4￿6 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? In￿r￿ra￿￿ Organlaalknn.
OWctlve• and actfvhl••
Th• cath￿rnI 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 SplA￿oI 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 pr￿r 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 Catt*drals, 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 Wa￿6 Is part ofthe Worfd￿¥￿d6AnY11¢an Communlon. Its Cor￿7UtiDTr 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 H￿Y 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 I￿hIP ofthe D￿n. 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
. M￿￿e- Cantrd to Cathedral's IKO 8n(I wwhtp
DJsdpleBhlp- Growhg mcTr Ilko J•sus
. 8tw*Mrdshlp- Lwg gs thAnlrful and geneThs pooplo
. Envkonmgnl- Carfng for God's croat
. Social Just1(￿- Se￿1￿9 tougth¥to Strèngth￿ our COMM￿￿1•5
. Equallty and Divwstty-weko￿n9 411
Under oath of th•58 socthns Chapter Idpntffied. In w￿ul¥￿tIon vAth othern. the ar￿ of dblngul8Nng
them as..
. Corn work- *thAtM*wAntto 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*q￿reMonts Lrf p￿110 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 minl*y. The GtaU8IL¥ for Ihh yw ￿11 forTn the L￿Be71n0 1￿M whth I￿10
dlr8ct1c￿& bg a8Bes5gd and m•a$ur•d. Owln9 thè yaar thè fc*)(￿1 was around 36,00012023.. 23,lll)).
The hearlbeat of th• Cath¥dral L8 it8 I￿r￿1p￿TrU lrfè. IN9 ¢￿tinU•s to grow. In txjth thè and ¥
dlfferent sty188 when the cholr b on a br8Ak and Ihere 1$ no Y￿￿ThJ cholr. Thg IKurglc41 dlet waB •xpand•J al
Christma8 to 8ddY8ss th• wadty ¢t*wwalk)n for tho F￿tiVal of L￿Son$ and Carols. wlth th8'ClwlstrnA8 Jumper
S•Thic*', an Ink1￿￿1 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 w￿0¥.
Av8rag• worshlppln9 #ti•ndanc8 has bo8n stabWshoMm • mod66t inerearyo an •￿Tage of 102 at￿lIr@ on
Sunday3. Ten pa0￿8. 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 ￿n￿n￿￿ whth
Plygoln at EP￿￿Y and Wèbh languago Choral Even8￿1 in tknbor.
The flrnt ￿(X￿88n crtor81 Fothol In rgcont years was held li February, drawlng iog•ther c*￿￿ frcm around
dlwes•. lft May we hosted H Threo Chtiirn Fe￿$¥84, bringlng Icygthor the d￿￿8 01 Uan¢off ond Brncon CothedraL9
th our o¥m. In May ￿ csiobrated the ICW)th ann￿?15¥Y of the Ty Mawr Communlty of th• Sw'ety of the S#er*J
Cross li Wal8s vilh a ¥pecial sèN*e. The Cor￿￿0￿ ol Klnq CharlÈs111 wa8 m8rkod vlth o ¢1￿C Bemco on ts evo
of th6 Cor(xwllon. ThLs. ￿On9 wlth tho anN81 servke and Holocaust Memortal Day, di¥plw Ihe Catheknl
continwj thc prewncè.
It has ￿Èn x btssy ￿r for and evènls. Tha y￿1 ho8UNJ a Ilve broadc￿1 ol'kny Qu6sllon6' t)n
8BC Radkj 4. In addluon to Ihg rpgular fK)nthly Mu$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 LI￿dOn Film Or¢h•strg d￿Eghted capaaty aUd￿nc•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
S￿nd 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 supp￿￿d th& bl$l¥Jp's MI￿￿ty. We wel00rn￿ xhoolB frvm pround
DIoce59 lor Iho annual ChU￿h SclKM)15 y8ar 6 18av8r8 8ervic•s. a conference lor he￿¥￿Ghern and • performartce
b8sed on the life afKI woth ofwilllam Mwjan. who transLqtad tho BI￿9 into Wglsh In thg slthenth century.
We wekomed new Chapter Canon8 ￿N￿3 th8 ￿r. lan Loynd, H•ad Tracher of St Teit05 Church in Wal•s
SBo)ndary Sthcd In East Cardrff. and Hannah Rowan. a ￿nsu￿nI from tho Islwryn Minlslry Aroa In Gw$nt
Valle￿. Monon Cerfdwen Jamos was kn8talknd 86 Canon Thec4ogl8n OTr Sl BfvJid'¥ Day in F8bnJ8ry, & now posrtson
wlthln the ca￿￿dra1 Foundalon. 11 ha5 btèn a tim• of greater stabillty wMNn tha Cathedral Stsfflng. EV￿n0 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¥r*edrAI. Thè Cathedral's mi%ston and MI￿&￿ r81Se8 h#a￿lY on dadlcated volunieers.
Wlthoutthe worf( ofts89 vduntsO￿, the Calhethal codd nolfunthn a￿1 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 ￿nIS8￿0n 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
R￿k1￿￿ary 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 addr￿￿1￿, In wtn?r8hlp *lth Mlntstykna4
th& opPort￿lIPS Ihat ¢ross b0￿darkn6 In thg dty.
Thg dgnlficanl chang95 ts> th• gly￿￿￿￿¢9 d thè Cath￿ra1 w ￿n￿lidA￿d ag the Chaptw be￿m8 a Charttsble
Incorpcnted OroBnI￿y￿ 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 t￿OnZa Award
*IthA Roth¢ eco ChuTth. It19 wC￿￿ThJ 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 prowW￿l according to prfth. Th9 wo￿1 to the
Gablo End 8bm th8 Crtnd￿ Chopel were completed aloThJ wllh th• roof rèp8trnts Ihe pr￿e&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 I￿hlI10 h•8 advan¢*d and refiJrblghrn•nt olthM• ha8 bo8n a8g•¥Bod,
And tendeTr￿. Thg tsndedng c(fstractcws all r•pOr￿ that th• W￿Ing would need b) b& rgpk¢xd eThJ IV￿ Lx)rtsds
install*J. Thi8 ha8 sIgn￿l￿nty the co5￿ Grant fundkng Is tang sought, atong with the Fa￿
pam4￿¢)n$ and it 1$ ho￿1 Ihe ￿)rkwIll tsko place durlng thg gummgr of 2024. Extem8Yty, plans Brp bolnll s￿101*d
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
t*rriJd OUL It 1$ hoped that th• gth•Julg of wLx*s WTII i* finalls8d durfro 2024 8nd tho n0¢ts8*y p￿￿￿￿￿8
obtatn&J. Th¢ 4¢￿1￿9 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 dC￿a10n. 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 C￿tr hèa grown. 27 thori5ters and 10 probolloners #rn dwm from 17 8th001$, rèwaS￿n9 •
Blgnlftcont arnountof work on b8haNofth• Dlrèdor of MuAk. Thls VAS rgeog￿8Od 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[fe￿angIng 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 b￿ed 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 Chak*er knilialive In ￿nteXt￿ th8olc9y. Ihg urtjan
sawng oftho diy
ong wlththe annual Chartlsts cOn￿￿t￿n. 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 NOw￿t Prfd8
ovwt and $ 40￿Ce 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 prO￿e 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 pArM*n￿e 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 ￿1￿Lts In k)ral K*ot48, 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 a88￿ta￿
through lh6 rA)ff•o momlk¥JS and th• M￿￿ * h
C8th8drnl ￿nIn￿88 to be O￿n 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 Cath￿￿91 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
c9th￿rat arKI Churth buildinoB.
Th8 Chapttr hdds In free Teaerves. ¥ufflrJe>nt lund8 to (thr 6 month$ of th8 r881>urcw expendod li Y￿￿ra1 fijnds,
At thts level the mgmbefs of the Chapbr th*t 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
To￿a¢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 rr￿thE 10 31 Decwnbw 2023 ￿re £1,988,707. Ex¢twling th• transferfrom
l￿1T￿y)rPjrat￿ tharlty noted above was £213,329.
1gV8t af direci K4untary o)ntribubon¥ #l eath aci of w(*thp, ￿dud1r￿J 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. otinati￿5 an
mi55ion paym•nly made during Ihe ￿0d amounted lo tIO.512. the fur#Js for whith tA*rè coH8cl8d dumg enher
r•gul8f or 8p8dal s8rvlceB.
Thè da9￿nated 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$￿nad fcf Iho tharity ssctor. Th• Chapter hag takgn #o¢Wist
inv￿tsTrent ethce regarding iha Inve8tm8nts they cnntrol to maxkntso inccm8. investsd in lin6 the Ethic
Investment c¥llerla ol the Church In W￿¥$. Fund8 Invosted Inchjdè sU￿[uS lunds aThJ th08e 8pocificdly ￿￿9t￿d or
bequeathed. Som8 luEKl¥ ba4ueathwJ are hold by lh8 Raw￿antAl￿8 Body of Chureh In Walos Ivho art as
UstL*J￿ tru$tee$,
Stryctur•, gov•rn•nc• and manag￿nt
Govwnhig document
The Calhedrnl Chaptsr Is psrt of the Dic¢gap of M0￿mouth 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 W￿d-￿id9
rnlBs[￿. Th¢ tsbl•ct cl tho Chapter to w*sure 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 t￿ught q constthtwjn and
rogulaflon6 tha Pr￿Qu9 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 ct*ptsr org •ppokntgd In ￿￿OId0nc¥ vAth Ihg ￿nSulU110n. are ele(*￿ by th• Catredrnl
fA)noregatlon 88 Caiwml wa￿en8. Oiher8 ar8 drnwn from Ih8 Dloce8e. Al perstsns ovw of 18 ￿088
names arn •nt8rnd on th& Cat￿￿r￿ Ele(#oral Roll are •nOUed lo vots and thoso ovar 18 aNglble lo stand for
•otkn Os Caif*th81 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 IWI￿n9$ 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
P￿n9 Ihe sUpoThJ8 ofth8 fulkfjme dP￿y. and adrnlnl8te￿ Churth In Wal8B of covgnonhl and gtn akl
gmng r8¢>Jb*ring lax on ￿half of th• parlslms. Calhedral ar& paKJ through Rspwentad4• W a￿1
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 &￿r￿An￿O wNh lh• corAti￿t￿n. Thèr• L* a ConorWlon81 Commmtee, et8¢*d by thè AnnuAI
of thfr ¢))rgregal'Th). has no 1￿clon in ￿VernanCe but a(*8 as a veh￿6 for p￿rn￿tIng 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 thI￿gh 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 cOns￿￿n9 of the Dean, the Re*dentiary Can0￿ thè Cathedral W4n￿n5, thg Chtol
OpwatirvJ Ornc•r and the Dlrettorof Mwb.
. Djary Manag•mant Mèètlro c4￿￿$￿ng of tha Dèan. thè Rasldéntlary CÈntsn. tho Chlef OFwaUnu Offlcer.
the*Almin15tratorand Events Cth)rthnatorand the Difyctorof Mvslc.
. FI￿ce CorrffiKtse 01 thè Dèan. the ChlefOperJllrg Olfitw. IhrBe mgmber3 of Chttotr.
. Fabrfc &)mmlttag 1>)nslJllng of tsvo membgrj of trpathor th Ihg Dean and th• Chiof Opwa
l)fflcw. aThl the Colhedral Archlknt Is Invlbj as need arl
Rl•k M•Mg•m•nt
Tho Ch8ptw18 condudFng a thcrDugh rnview of risk3 and noc0ts8ary mlogatlng proc*dur•s a8 th8 n8w govgrnanc*
51w¢lur• Èmb•ds. has been sought from lThlynd8nt examlnlng aecountant. The rtsks fadng th6 Charlty
Indude the 8lats of repair of Ihe CathedTrl, which are beiTrJ mel thrO￿h the archft81*s Qulnquennbl Inspecbon and
•n$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 rEp￿r￿n9.

THE CATHEDRAL CHURCH OF ST WOOLOS. NEWPORT (CIO)
TRU8TEE8' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Reftr•nc• •nd Jdrnknl*trntl¥• knfomiAtlon
Appdntsd on 20 WI 2023:.
Very R8VgrÈnd l Bl&*
Ca￿n 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 0*1112023
Chlof Opornwfig lJlll¢•r Mrg P Co
Kty M•nao•m•nl P•rnt)nn•l
MrsPCo
MS E GlbblnB
harlty numb•r
1202787
p￿￿**1 addr•8•
The Catt*dral t)fflr
105 Stow Hi
CASNEWYDD
NP204ED
Ind•p•nd•nt •x•mlMr A2èts S•NIc*g
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
&qlIst￿ry P812EB

THE CATHEDRAL CHURCH OF ST WOOLOS, NEYIPORT (CIO)
TRUSTEES. REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEAIBER 2023
Ir￿•1m*nt RBC Brnwkn t)aWhln
5 Cajlaghan Sql
Cardmf
CF10 5BT
R￿Mayn8 B•nU8y
3 Welllngton Plae•
Leeds
LSI 4hP
Janus Hend8f
PO Box W)TJ
CM99 2WB
Th8 tru#￿, r•pc#twa8 I￿r0¥*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$,
Ne￿￿ort {ClO) (the thority) tr the period anded 31 Decemb8r 2023.
R8spon$lbllltles and basls ol report
As the Irusleets of the ¢harity you are respo￿lbIe for Ihe prePara￿n 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
Asswa*K)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 8CCorda￿e 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 Con￿rning 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 a￿osS 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
DOna￿On5 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.$08
t galn8llknB8a81 on In￿ents
12
5.274
13,096
N•t I1￿)￿1￿9 rnsourc•¥ transf•rn
1.274.440
3B4,855 1.659295
Gw transtsrn b8iween fvnd
(10,480)
10,48
Nrt movement In lund•
12e3.
396,335 1.859295
FUNI WarKo5 al 1 May 2023
Fund bwlan¢•$ at 31 DK•ml>•r2023
1283.960
395.335 1,85S,295
Th&statem￿l of )Inanctal a¢AvlkJ kndud6s all grJn3 aThJ foM•¥T?cwl￿d In the wlod.
JI Inc4mo ar•1 OxpMd￿1Q dfjrfv• frorn

THE CATHEDRAL CHURCH OF 8T WOOLOS, NEWPORT (CIO)
BALANCE SHEET
ASAT 31 DECEM8ER 2023
Flxed a¥••t•
InveSln￿ntprrwrtY
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, NOw￿rt (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 acco￿l￿g 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 [9Dv￿n9' 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¢T*wKo y￿th 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 d￿nad 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 Re￿I￿tiO￿ 2(108 gnty to
thè ext&nl requir8d to prDvidg ¥ trug and fair vyow. Thi$ departure haB Irkvolvod fclbwlng tho Stalomnt
RèL*mmgndEd PrgCtt8 for tharhle3 app￿ng FRS 102 rather th8ll the vèrsron of thg st818rn￿t of
Reo)mrn￿ed Praclce whkh18 F818rf•d trj In th¥ R*ju￿10￿$ bui*l)ic* BlrKg t4gn thrawn.
Tha fin8nclal statèmgnts are p¥epared In s￿￿1r￿, 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 app￿￿r￿￿ the flnanclal statBment6, tho IDJst885 havb a reaBOnab￿ exréet8Uon thot th8 charlty
ha8 adequate re8ource8 to ¢ontlnu8 Sn operalefid ￿$tence for th• fwa¥a￿e fiJiur•. Thu¥ Ihe In*ts86
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• tr￿t￿ In furthera￿4 01 th8tr rt*rttob
R•strtctad AubJ8¢t 10 ¥r￿all¢ cr￿d1￿c￿ 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 flnaN*I ¥tatsment&
Endov*Thnt 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 1￿C￿e ￿11 bfr rO￿Tr￿1.
Cash donalon• are r•eognlaod ￿ rfjcglpt don•UoM 8r• r•c4n160d onc• th• rtslty haB boen nolfl*J
ol lh• dO￿ti0ft. unbss pgrfornanco CLsndilions requlro d6forrdl of tha 8mounL Fr￿me tAx I￿vaNble
rdallon to donations r￿81¥•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 othe￿8 rf Ihe tharfty has been nothled ol an th￿p0￿J1￿9 dktslbuwcffl,
thts amount L* knovm, 8fKI recalpt Is ?xp¥d•d. If lh8 amount ￿ Mt kr￿A￿. the legw IJ tr￿ted as a
conbngènl 8sseL
1.6 ExWidl￿r•
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 raq￿ra￿ In *etUerf and Iha alr￿n1 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. Ind￿j1￿j sUPWt wsts Involv&J in undèrtaklng ￿ activity. DIT￿* ¢asts attrlbulat4e to u ¥hg
acllvity are allocuted dkecuy to that a￿￿ty. Shor8d (y)BtB whid) contrfbul• to more than on& acfvlty
iupport costs whlch are not attrft*Jtable to a Sinolè athty are appNllon6d botr￿en 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•P￿￿atIOn tharg&s arn olloc4bJ on tho N)rUon of the osB8VB UBO.
1.7 Inv•¥tm•nt prop•rty
Invsstrnvnt property, wh￿h Is PfOFerty hekl to ¢8m rental8 andlor for c3pit&l aF¢)redation, 1$ inlbally
rewgnlsèd at C08t, whlch knClUd￿ tho purchase COBt and any dI￿tty 8rtrfbutob¢e expendlturè. Subwuenuy
it Is m8asured Jt fa* valuè At the rep￿n9 ond dat8. The or d￿￿t on lgvaluallon 1$ reo)gnlg8O In
vfrt or10g9.
1.1 Flxgd *M#t In¥•th•nts
Flx8d assol Inve51ments art Inttially maasured 01 Ir*n5*bon pr￿e eX￿￿JIre tran8aCIL￿ wst4 and 8r¢
subsequenuy m&è$wed at tslr va￿e at oach rèF4Jrknng datè. Changes in tair walug are r¥coyrls•d kn net
inwrfdloxpenditUTo1 lor th8 year. Transaction are ex￿nSed as wicutted.
1.9 Sto¢Jk
Sl(th arg stst9d at thg low of L¥>St aTrJ 98lirnJtad aelling prlee k86 0)sts ts ¢¢mpEets and s811. C￿1
compn'ses dtr•ct m8terlal3 and, wher6 appUc4bl8. dlrect labour and thos• overh￿d$ that h8Y8 boon
in¢uThgd In brkn4ng the $to¢ks to Ihelr presonl Ilxat￿n and condiiion. Itom¥ held for d18tribution al no or
rthilnal consbJer•llon are rma5uT￿j th* Iowgr of replargmgtst ¢ost •id L))sL
Nei r8all8ablo valu* Is th8 66lmated 8elllng ￿1(* all cmts of ¢c￿PIe¢v)n and ojsts to b8
tsygd In rnarknung. ¥olliD9 Ind dlsb*>utton.
1.10 CA•h and ¢a•h
Cosh and 8quivalonl8 i￿￿de ca¥h in hand, deposlts h¢td at call wrth bank6, othgr $h¢)rt-tsm lIq￿d
I￿5￿mertts odglnal m*turilio8 of thT88 mtsnlhs orloss, and bank 0￿rdIAftS. Bank overdraft8 shown
ithin borro￿n99 In current liabllll¢s.
1.11 FlnAndd In8trvment•
Th• tharfty ha8 eiectsd to ￿p[Y the wovlslons Df S8¢bon 11 '8•6K Finan¢tsl Ingbum•nls' and Section 12
'Ol*er Flnana4 In¥lrnments IB8ues' of FRS 102 to all oflts finanL¥al Instrumgnts.
Fin8n(x•l instru1￿ants are r8r¢gniséd In tho ch8Tty$ baLqn¢e sheet Ythen tho ¢h*lty 1)OC4)m8B party to Iho
Cl￿aGl￿1 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 le￿IlY ènforc8able rtght to set off th& r8¢ogn￿ed amounts and thern ￿ an Intsnlknn to 39tU¥ on a not
ba81s orto T￿186 tho 888et and $etd8 th8 IFabUIty ￿Mu￿aneously.
12-

THE CATHEDRAL CHURCH OF ST WOOLOS. NEWPORT (CIO)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Acc4￿￿11￿9 pollcl•
(Condn
Ba￿¢ financ￿ a88&ts, wN¢h Inclutts dgbtorn and 8nd bgnk bthnce8, Bre I￿tIOnY ma98ured qi
transaction pric* Nlcludiw transaL*on costs and ere 8ubswonUy ￿rned at amorl8•d co8t USINJ the 6ffsc*
Irrt8r¥si mothod unlw th• aff8ngwn8nt ty)nJtitsrtoB a fin￿￿r¥j fr•n90¢llon. *th•ro tho IransaC1￿
measured at Iho Pr￿nt value of thg future rec4pts dix¥)untsd •t ? rn4wkgt rate of inter•gt. Fknon&g1 #$80ts
dassw a6 r0￿￿￿bI•￿rflhI￿ ono y•ar aro not amortls" •J.
Basic finan(aal liabilfd&8. Induding crethtors arvj bank loans ar• fftitlat￿ ro¢ty3ni88d al tran8aGt[￿ Pri¢8
1he arrartrdernenl constlbJteB a ftnanclw tran8adlon, tho ttsbt InBtNm8nt 18 #t th¢ pr?5￿t
lue of the fulura ￿￿￿ents discxwnted at a mfj￿t rnte of InieresL Flnand•l118bllNw dABsIAed aB payablo
tNn one y•ar are not ?mortiJ•d.
Djbi Imtrum•nts •r• subwiu•nty'c•nbd •t •mortW c••L u8lng th• •ff•tll¥• intsroBt rate n*tTrKXI.
Trthrt• crgdAorn ore obb'g•Oor¢a to goods or s8￿c¥S that have been acquknd In the ordtsy ￿￿r6e of
c9ero0D￿ from 8uppllern. Amounts F4yaN• ar• dAssffi•J a8 tyJYrènt l8bilKle¥ ￿ payment18 due wthh o
ybar or loss. 11 noi are pr•g&knd a$ ￿nW￿Jrr0nt I1•￿IlU88. Tr8de ar• rntsjgnknad In￿alty at
tr*nsaclhJn piwx and Bubs8qu•nlly m￿SUr8d 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
I￿lled.
1.12 Ernpk4y•e b•n•fil6
Th? ￿81 of any unue¢d holpyay ￿lI￿Orn0n1 1£ re0)gn￿o￿ In tho pw*)d In vthkh the employee's are
To￿n8￿C￿L 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 r1￿M￿t•8 •nd ludg•mw
ln tre of charfvs acp)undng potld8s. th• t￿￿t¥05 ar• r•qthrod to mfik8ludg•mentg, wfjmoteo
and 8boul th8 (4￿ng 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 oxpw*n¢o and 0th8r fath Ihat
P l¥]n￿dwBd ID b8 ml8vBnL r8Bults dlff8rfrcffl th8￿ osUmat•s.
The 0stlrnots& aTrJ underf￿n9 assuniptbns arp T¢vlth%*d Lm an ongolng bath, b) a(thunllng
estimatgs •# rvc4>gnistd in th• p81ir*J In *thld) th• •slm8te is ￿Sed vther¥ ths revi￿0￿ affects that
rfod, or kn th6 ptrdod of tr* MTrA$h)n l￿d fulur6 F•rfod8 tha r•vWon aff￿t% both cwront futsjro
rlc*l8.
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•
t￿￿tiOn offund¥ rnc•W from The Cathedrnl ChuTth dst
WfKilos, Nv
Oonatlon6
Gfft￿d
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
Inl￿m8
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 InVe8trn￿ts
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
MI￿OTr 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
8￿ppOrt ¢o¥ts
Support Ggv•rrnnco
23
Inde￿ndIn1 Ex•mlr•rfw8
Chartsble ac1v￿lS5
4.SL¥I
4,500
an￿ costs Indud88 paym￿1$ to th¢ I￿0p¢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￿ C￿ne¢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 tOtsI￿ng £nl.
11 Employ•
The awrag9 ￿￿￿th[Y nurnb8r of0mpby￿S dumg the pwiod waB.'
2023
Numb•r
Ernploym•nlGosts
2023
Wag68 8alarto8
83,662
Thg manwmont pownnd of the d￿rity arg uul in th• trust￿ report. The remunerati¢m paid
rduding elm￿0Ye￿8 national kn¥urnncè and •mployerf8 pang￿n contributlons lotslfru £45.856.
Thwo were ￿p￿Y￿b￿ ￿ 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 gal￿101￿8) on Inv••ln*Tht•
(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 oftheTaXatlonafC*argb￿8 GalrffjA(* 1W2 to the extontthatth•8• ara #FlA￿d lo Its objects.
14 Inv•th•nt WOP•bty
2023
Falrv•lu•
Al 1 May 2023
IdNkTh through eXt￿la1 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 P￿Ptyty has wrfved at on the ba3E8 of B Yalua¢kJn r*rrlad out by Lkndls Property
Conwllanls on 19Aug￿t2￿￿.
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
C*rylno kniounl
Al 31 0￿Mb￿r2023
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.
011￿r dobtr)r5
5,913
18 Crndllm: •mfWnt• f•lling du• wlthln t)n• y
Omercr8dlicq¥
44,513
18-

j I" %
¥ oJ-u*
*r
*Q Ln o
ty LFJ
J o

THE CATHEDRAL CHURCH OF ST WOOLOS, NEWPORT (CIO)
NOTES TO THE FINANCIAL STATEMENT8 (CONTINUEDI
FOR THE PERIOD ENDED 31 DECEMBER 2023
20 DMly*t•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
chi￿ren5 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 Cath￿rat g•neTal
Bellrirys ftmd ￿ mwnbèrfs ￿ntiibUtiorrt fLY 6podfie expand￿r0 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 w￿n 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
F￿d balW￿•9 8t 310o¢•rnb8r2023 A
r*e8enled ty.
420.0(KJ
443,872
3￿.431
420.000
800.038
439.257
358,186
39.189
Curwt 892•t￿labl￿ll￿$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 ec￿￿M￿ are not Involvad kn Ihè dedslM maklng ￿th to thg IBvel
olfunding $¥L
SIX of Iha In￿￿•$ are also truslae8 of Iho M0nn￿Uth Diown of Fln8n¢e ￿ kyovide grant frthidlng to
dHll'ty and rKofve rnlnisty 8haTO Ir￿Tr￿ tr￿n 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-