Canterbury Cathedral Trust Fund Trustees, Report and Financial Statements For the year ended 31 March 2025 Company Registration Number.. 05588837 IEngland and Wales) Charity Registration Number: 1112590 Canterbury Cathedral Trust Fund Contents Page Trustees, report Ito8 Independent auditor's report 9t012 Statement of financia l activities 13 Balance Sheet 14 Statement of cash flows 15 Notes to the accounts 16to25 Appendix- comparative information 26to31 Canterbury Cathedral Trust Fund Trustees, report for the year ended 31 March 2025 The Trustees su bmit their annual report and the audited financial statements of Canterbu ry Cathedral Trust Fund (the charity) for the year ended 31 March 2025. The trustees confirm that the annual report and f inancial statements of the charity comply with current statutory requirements, the requirements of the charity's governing document, the Companies Act 2006 and the provisions of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 "Accountin8 and Reporting by Charities" Objectives and Activities The objectives of the charity are to support the priorities of Canterbury Cathedral (the Cathedral), including to support the conservation, maintenance and improvement of the building and its collections,. enhance acce55 and interpretation. develop the site as a centre for learning,, promote and perpetuate the choral mu51C tradition of the Cathedral.. create and sustain opportunities for craftsmen 3 nd women,. and support such other charitable purposes for which the capitular revenues of the Cathedral are applica ble. The main mechanisms for delivering its objectives are to raise funds and to make grants to the Chapter of Canterbury (the Chapter). Grant giving is informed by the strategic aims and priorities of the Chapter. Gra nts a re agreed by the Trustees for specific projects based on the charity's available fund5, Additionally, a long-term designated Music Fund is adniinistered by the charity, which was set up from inconie received iii 1983 at the discretion of the Trustees, and which was invested to generate further income to support the continuation of the Cathedral's Choir and musical tradition. Ca nterbu ry Cathedral is a charity registered with the Charities Commission Icharlty registration nuinber 12069131. Following a review of fundraising by the Cathedral and the creation of 3 new fu ndraising team employed by the Cathedral, the Trustees of this charity made the decision that for the time being they will not be actively f u ndraising. The charity will continue to support the Cathedral with the f unds that it has in ha nd a nd with regular investment income received. The charity will continue to accept donations and legacies, The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due rega rd to the Charity Commission's general 8uidance on public benef it in determining the activities undertaken by the charity, The charity did not em ploy any staff during the year. The Cathedral's fundraising and finance teams are su pporting the administration of the charity and a fee for this service is charged by the Cathedral to the charity. The charity paid or committed 8rants of £0.67m to the Cathedral to support on going projects including tlie West Front project and the provision of music12024'. £1.027m). Canterbury Cathedral Trust Fund Trustees, report for the year ended 31 March 2025 Achievements and performance The funding priority for the charity during the year was the continued support of the West Front project, prim3 rily with funds in hand, In addition, the charity provided £0.15m towards the refurbish ment of the Deanery and is also providing f u nds to 5UPPOrt the conservation of the iconic Christ Church Gate wliich is the m ain entrance to the Cathedral Precincts. M usic continues to be a priority for the trustees. During the year grants totalling £0. 241m were made to the Cathedral for music. During the year the charity received or was notif led of legacies totalling EO.21m of which £0. 14m was for general purposes and the balance was restricted to music. The charity extend5 sincere thank5 to all the individuals and organisations from around the world who have Eiven during the year. The General Data Protection Re ulation Data Hand ling., The charity is fully compliant with current data protection requirements and working within General Data Protection Regulation IGDPRI requirements which became law in May 2018. The charity takes data protection very seriously and does not sliare the charity's data with third parties, other than with some departments of the Cathedral, so that they may deliver services Isu ch as preparation of accounts) to the charity. No other sharing of data takes place except where it is required by law or unless permission has been given. The charity adheres to the Cathedral's Privacy Notice which can be found on the Cathedral's website. Fund raisin The charity aims to achieve best practice in the way that it communicates with donors a nd su pporters a nd takes great care in the tone, content and accuracy of its data to avoid any pressure on supporters, The charity is registered with the Fundraisin8 Regulator and adheres to the Code of Fundra ising Practice. The charity never Sells or swaps personal data and ensures that communication preferences can be cha nged at a ny time. The charity is not actively f und-raisine at present and an agreement is being put in place so that the Fund-raising team of the Cathedral can provide stewardship of the charity's donors. Letters have been sent to individual donors seeking agreement to enable this. The cha rity does not employ the services of third-party fundraiser5. The charity undertake5 to react to and investigate any complaints regarding its fundraising activities and to lea rn from them to improve its service. During 2024125, the Charity received no complaints about its fundraising activities. Canterbury Cathedral Trust Fund Trustees, report for the year ended 31 March 2025 Financial Review The accounts show total net expenditure of £0.280m for the year, before accounting for netlosses on investments of £0.094m and after recognising grants payable of £0.666m. This compares with net expenditure of £0.605m in 2024 after recognising grants payable of £1.027m and before losses on revaluation of investments of £0.123m. Of the total income receivable in the year I£0.409ml, 26.3%1£0.167ml, was receivable for restricted purposes12024: 23.7%). Le8acies of £0.207m (2024: £0.016m) were received or notified in the year, making up 50.GOA of the total income for the year. The legacy income received or notified in the year included £0.067m for restricted purpose5. Income from investments made up 45.2% of the total income compared with 80.3% in 2024. It is the charity's policy to recognise grants payable when they are approved and communicated to the Chapter. At the year-end there were grants approved but not yet paid of £0.25m12024: £0.34m}. Flnantial Reserves Total fund5 at the year end were £6.57m of which £1.20m was for restricted purposes and £5.17m was designated by the Trustees for specific purposes. Designated funds form part of unrestricted reserve5 and the designation can be changed by the Trustees. General funds (excluding the designated funds} were EO.21m at 31 March 2025, The Trustees have a policy of retain ing a miiiimum of 6 to 12 months, operating costs as general fu nds. Based on anticipated futu re expenditure for 2025/26, this has been achieved. For the period that the charity is not actively f u ndraising, operating costs are expected lo be minimal. Investment Policy and Performance Investments are held in the CBF Church of England Investment Fund Income units managed by CCLA and in the Sarasin Endowment Fund, a charities authorised investment fund managed by Sarasin & Partners LLP. These fu nds represent the designated music fund. Both funds have reference to the Church of E ngland's eth ical investment policy. Neither fund invests in tobacco. pornography, 8rmament5 or gambling. The funds are kept under regular review. Both holdings were purchased during the year ended 31 March 2024 following a review of investments. Previously the fund had beeii held in Charifund, managed by M&G Securities. The investTNents are held for the lonE term and are considered on a total return basi5. The income from them is transferred to tlie Chapter to help fund the music and choir of the Cathedral. U nitg may be sold to give further grants to the Cathedral. DurinE the yeai trustees raised £0.066m from the sale of units held with Sara5in, to make a grant to the Chapter to support music. Canterbury Cathedral Trust Fund Trustees, report for the year ended 31 March 2025 In Eeneral. where funds will be transferred to the Cathedral in a short time period, they are held in cash. Where funds are likely to be held for a si8nrficant period, longer term investments are made. The original investment managed bysarasin & Partners LLP in the Sarasin Endowment Fund represents the Marit and Hans Rausing Choir Bursary Fund which was established and restricted to provide bursaries for choristers. The income from the investment is available for bursaries. The total return for each fund 15 shown below. Investment Returns - Sarasin One year Return Three year Return Flve year Return Total Cumulative Investment Return-Alpha CIF Portfollo Benchmark +4.1% +12.60/0 +47.1ya +4.9% +18.30 +61.8% SouiGe,' Sarasin & Partners LLP 31.03.2025 Investment Returns - CCLA One year Return Three year Return Flve year Return Total Cumulative Investment Return- CBF Fund Portfolio Benchmark -1.640 +3.09% +4.110 +8,70QA +2.47Q/o +5.07% SOU￿8,. CCLA 31.03.2025 Rlsk Management The Trustees have assessed the major risk5 to which the charity is exposed, including operational, financial and reputational ris1(. The Trustees review and update the risk register regula rly, employing a ranking System which considers the likelihood of occurrence and subsequent impact. M itigating steps are then agreed. Key risks include.. Risk MitigationJActions I nability to secure sufficient income to cover running costs. Trustees to ensure that sufficient general funds are retained for this, Loss of reputation wlth donors, Regular contact with the Cathedral's senior leadership team so that the role of the charity can be developed to support tlie Cathedr31's strateEiC priorities. Ensure regular review of fund management performance and thorough and timely reporting by fund managers. Fa ilure of Investments resulting in the charity being unable to meet commitment5 to the Cathedral Canterbury Cathedral Trust Fund Trustees, report for the year ended 31 March 2025 Plans for Future PerTods The Cha rity has paused active fund raising for tlie time being, but the Trustees will continue to ma ke Erants to the Cathedral usin8 existing funds and investment income. A further review will take place duringthe year. The Trustees remain Brateful to regular donors for their continued support. The Trustees remain committed to supporting the Cathedral's strategic objectives and core values, Structure, Governance and Management The charity is governed by its Trustees who meet four times a year, when policy, expenditure and future projects, are discussed and decided. New Trustees are recruited to provide a balance of skills and experience on the Trustee Board, Their induction to the cha rity comprises a briefing on the constitution and current projects, tours of the work being done to the Cathedral, and meeting the key staff. The strategic direction of the charity is undertaken by the Trustees. Management of the charity during the year ended 31 March 2025 wa5 undertaken by staff employed by the Cathedral. The accounting function is undertaken by the accounts department of the Cathedral, under the guidance and support of its Director of Finance who acts as A5515tant Treasurer to the charity. Trustees were saddened to learn of the sudden death of Robert Willis, Dean Emeritus of Canterbury in October 2024. Dean Robert was the Dean of Canterbury for 22 years until 2023. He was a trustee and a strong supporter of this chaiity throughout this time. At the year end, key management personnel were the Trustees of the charity. Trustees do not receive any remuneration. Canterbury Cathedral Trust Fund Trustees, report for the year ended 31 March 2025 Reference and Administrative Details Those Trustee5, committee members and off icers who have acted at any time during the course of the f ina ncial year, and u p to the date of this report, are listed below: Patron., HRH The Duke of Kent KG GCMG GCVO Llfe Presldent.. The Viscount De L'lsle CVO MBE (until l August 2024) Llfe President.. Mr James Loudon DL (from 17 December 2024) Directors/Trustees of Canterbury Cathedral Trust Fund Lady Colgrain, Lord-Lieutenant Mrjames Loudon DL Mr Benedict Moorhead DL Canon Andrew Dodd Mr Hubert Ashton Mr Roger Brookhouse Mrs Geraldine Allii)son OBE DL Mr Hugo Fenwick The Very Reverend David Monteith President Chairman and Treasurer (until 17112120241 Chairman (from 1711212024) Canon Treasurer of Canterbury Cathedral Dean of Canterbury Company registration number: 05588837 (England and Wales) Charity registration number: 1112590 {England and Wales) Registered Office: 8 The Precincts Canterbury Kent CTI 2EE Bankers: Lloyds Bank plc 49 High Street Canterbury Kent CTI 25E Investment Managers: Sarasin & Partners LLP Juxon House 100 St Pauls Churchyard London EC4R 3AB Registered Auditor: Buzzacott Audit LLP 130 Wood Street London EC2V 6DL CCLA One Angel Lane, London EC4R 3AB Canterbury Cathedral Trust Fund Trustees, report for the year ended 31 March 2025 Legal Structure Canterbu ry Cathedral Trust Fund is registered in England and Wales as a Cliaritablo Company limited by guarantee, company registration number 05588837, Charity registration number 1112590. The liability of eacli member, should the charitable company be dissolved whilst they are a mem ber or with in 12 moiiths thereafter, is limited to £ 10. Trustees, Responsibilities in Relation to the Financial Statements The Trustees who are a Iso directors of the charity for the purposes of company law are re5pon5ible for preparing the Trustees, report and the financial statemÈnt5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), The law applicable to companies In England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the State of affa irs of the charity and of the Income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply them conslstentlv; Observe the principles and methods of the Charities Statement of Recommended Practice; Make judgments and estimates that are reasonable and prudent,. State whether applicable accounting standards have been followed, subject to any material departures d isclosed and explained in the f inancial statement5,' and Prepare the financial statements on the going concern basis unless it is inappropriate to presu me that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the cha ritable company and hence for taking reasonable steps for the detection and prevention of fraud a nd other irregularities. So far as each of the Trustees is aware at the time the report is approved.. There is no releva nt audit information of which the charitable company's auditor is unaware and Each Trustee has taken all steps that he or She ought to have taken to make himself or herself aware of any relevant audit information and to establish that the auditor is aware of this information. Canterbury Cathedral Trust Fund Trustees, report for the year ended 31 March 2025 Auditor The a uditor, Buziacott Audit LLP will be proposed for reappointinent in accordance with Section 485 of the Companies Act 2006. Thi5 report was approved by the Trustees on 24 July 2025 and Signed on iheir behalf by'.- Trustee Benedict Moorhead Independent auditor's report to the members of Canterbury Cathedral Trust Fund Opinion We have audited the financial statemenls of Canterbury Cathedral Trust Fund Ithe 'charitable company'l for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash f lows, the principal accounting policies, the notes to the accounts and the appendix. The financial reporting framework that has been applied in their preparation 15 appl icable law and United Kingdom Accounling Staiidards, including Financial Reporti ng Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kin8dom Generally Accepted Accounting Practice). In our opinion, the financial statements: + give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its income and expenditure for the year then ended. + have been properly prepared in accordance with United Kingdoni Generally Accepted Accounting Practice; and • have been prepared in accordance with the requirement5 of the Companie5 Act 2006. Basis for opi nion We conducted our aLJdit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the ch aritable company in accordance with the ethical requirements that are relevant to our audit of the f inancial statements in the UK, including the FRC'5 Ethical Standard and we have f ulf illed ou r other ethical responsibilities in accordance with these requirements. We believe that the aud it evidence we have obta ined is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditinE the f inancial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the f inancial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months f rom when the f inancial Statements are authorised for issue. Ou r res ponsibilitie5 and the responsibilities of the trustees with respect to Eoing concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report, including the trustees, report, other than the financial statements 3nd our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Ou r opinion on the f inancial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assuran￿ conclusion thereon. Independent audito¢s report to the members of Canterbury Cathedral Trust Fund (continued) In connectioii with our audit of the financial statements, our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the f inancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the *inancial statements or a material misstatemeiit of the other information. If. based on the work we have performed, we concludo that there is a material mi55tatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companie5 Act 2006 In our opinion, based on the work undertaken in the course of the audit: • the information given in the trustees, report. which is also the directors, report for the purposes of company law, for the f inancial year for wh ich the financial statements are prepared is consistent with the f inancial statements: and + the trustees, report, which is also the directors, report for the purposes of company law, ha5 been prepa red in accorda nce with applicable legal requirements. Matter5 on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have riot idei)tified material misstatement5 in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us. or + the financial statements are not in agreement with the accounting records and returns; or certain disclosures of tru5tees' remuneration specified by law are not made. or + we have not received all the information and explanations we require for our audit; or • the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees, responsibilitie5 statement set out on page 7, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisf led that they give 3 true and fair view, and for such internal control as the trLJStees determine is necessary to enable the preparation of financial statements that are f ree from niaterial misstatement, whether due to fraud or error. io Independent auditor's report to the members of Canterbury Cathedral Trust Fund Icontinuedl In preparing the financial statements, tl)e trustees are responsible for assessing the charitable com pany's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting u nless the trustees either intend to liqu idate the charitable compa ny or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the f inancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report thal includes ou r opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. M isstatements can arise from fraud or error and are considered material if, ind ividually or in the aggre8ate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregula rities, Including fraud, are instances of non-compliance with laws and regulations, We design procedures in line with our responsibilities, outlined above, to detect material m isstatements in respect of irregula rities, including f raud. The extent to which our procedures are capa ble of detecting irregula rities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregu laritie5, includ in8 f raud and non-compliance with law5 and regulations, was as follows: • the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. • we obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most Significant frameworks which are directly relevant to specif ic assertions in the financial statements are those that relate to the reporting f ramework (Statement of Recommended Practice.. Accounting and Reporting by Cliarities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdoin and Republic of Ireland IFRS 1021 and the Charities Act 20111 and the Companies Act 2006. and • We understood howthe charity is complying with those legal and regulatoryframeworks by making enquiries of man3Eement and those responsible for legal and compliance procedure5, We corroborated our enquiries through our review of the minutes of Trustees. meetings. We assessed the susceptibility of the charitable company's finaiicial statements to material m isstatement, including obtaining an understanding of how fraud might occur. Audit procedures performed by the engagement team included: Identifyi ng and assessing the design effectiveness of controls in place to preveiit and detect fraud. + U iiderstanding how those charged with governance consider and address the potential f or override of contro15 or other inappropriate intluence over the financial reporting process,, and li Independent auditor's report to the members of Canterbury Cathedral Trust Fund (continued} + Assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the relevant accounts item to which they relate. • To addre55 the risk of fraud through management bias and override of controls, we: + performed analytical procedures to identify any unusual or unexpected relationsh ips; and + performed substantive testing on expenditure including authorization thereof. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included. but were not limited to: reading the minutes of Trustees, meetings of those charged with governance; and enqui ring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non- compliance, Auditing standards also limit the audit procedures required to identify non-compliance with law5 and regulations to enquiry of the trustees and other management and the inspection of regu latory and legal correspondence, if any. Materia I misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealrnent or collusion. A f urther description of our responsibilities is available on the Financial Reporting Council's website at www,frc,org.uk/aud itorsresponsibilities. This description forms part of our auditor's report, Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that we might state to the charitable company's members those matters we are required to State to them in aD auditor's report ai)d for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsi bility to a nyone other than the charitable company and the charitable compa ny's mem bers as a body, for our audit work, for this report, or for the opinions we have formed. Hugh Swainson Isenior Statutory Auditor) For and on behalf of Buzzacott Audit LLP. Statutory Auditor 130 Wood Street London EC2V 6DL Date 25 July 2025 12 Canterbury Colhedial Trust Fund Statement of Flnanclal A¢livltleJ for th• yoar ondBd 31 March 2025 General Fund Designat8d Funds Reslricled Funds Total 2025 Total 2024 Income frorn: Donatlons arbd legarJ8s Inv8slments and inleTosI ￿ceIVable 155.979 11.674 167.653 66.265 39.391 107.056 224,244 205,474 429.718 97,615 399,777 497,392 154.409 154.409 Total Exp•ndllurè on: Ralslnu funds Charilable acllvlt1è5 2.975 158,028 2.975 706,706 75,184 1,027,128 279.729 268.949 Tot41 161.003 279.729 268,949 7D9.681 1,102,312 Net Incom•l•xp•ndltur•l bofor• r•valuallon8 6.850 1125,320} 1181.293) 1279,9631 1604,9201 Nel unreallsed Uosse$llgaln8 on Invo8lmenls Nel reallsed galn8 on Inveslmenls 1106,415} 4.593 8,215 198.2001 4,593 1122,9981 Net InGomollexp8ndltur¢l 6.650 1227,1421 1153,078) 1373.5701 1727,9181 Tran6ler$ betwogn lund# N•t mov•ment In funds 6,650 {227.1421 1153.078) 1373,5701 1727,9181 Reconclllallon of lunds.. Balgn¢e broughl lo￿ard al 1 Aprll 200.258 5.396.181 1,349.298 6,945,735 7.673,653 Balance caided loThv8rd 8131 March 206.906 5.169.039 1,196,220 6.572.165 6,945,735 Tlie above results refted lh& 10101 galns and lovJe$ of Canterbury Calhedral Trusl Fund and arl$? wholty from ¢onllnulng activit￿5. Compar8llve figu￿$ lor Ihe y&gf &nded 31 March 2024 can be fovnd In the 8ppandlx. 13 Canterbury Cathedral Trust Fund Balance Sheet as at 31 March 2025 Nole General FurKI Designated Funds Restricted Funds Total 2025 Total 2024 Fixed assets Investments 5.035.2( 789,291 5.824,497 5,984,404 Current assets Debtors Cash al bank 153.887 114,152 268,039 20,465 149.412 169,877 37.269 553.403 590.672 211,621 816,967 1,028.588 169,140 1,155.937 1,325.077 Current liabilities Creditors.. amounts falling due within one year 10 61.133 36.044 183,743 280.920 363,746 Net current assets 206,9C6 133.833 406,929 747,668 961,331 Total net assets 206,9(AS 5.169.039 1,196,220 6.572,165 6,945,735 Funds 11 2C6,906 5.169.039 1,196,220 6,572.165 6,945.735 Revalualion reserves losses of £93.607 are induded in the above funds {£101.822 losses in d85ignaled funds and £8,215 gains in reslricled lundsl. Designated funds represenl funds sel aside by the Trustees lor specific purposes. The Trustees Can amend Ihe designation al any lime. The linancial slalemenls were approved and aulhorised for issue by the Trustees on 24 July 2025 and signed on their behaSf by'.- Trustee Benedict Moorhead Trustee - Hube Ashton Comparative figure5 fof the yeai ended 31 March 2024 can be found in the appendix Canterbury Cathedral Trust Fund is a registered company. number 05588837 (England and Wales) 14 Canterbury Cathedral Trust Fund Statemeiit of casli flows For the year ended 31 March 2025 2025 2024 Note Cash flows from operating activities: Nel cash used in operating aclivilies 1610,7441 11,264,036) Cash flows froin iiivestii)g activities- Inveslmenl income and inleresl ieceived Surplus on Ilie sale ol inveslmenl Purchase ol inveslmenls Disposal of investments Net cash provided by investlng actlvltles 205,474 4,593 399.777 (5,205,115) J,220,708 415,370 61,707 271,774 Change in cash and cash equivalents in the year Cash arKI cash equwalenls al the beginning of the year 1338,9701 1,155,937 184B,666} 2.004,603 Cash and cash equivalents at the end of the year 816,967 1,155,937 Recoiiciliation of net lexpenditurellincome to net cash usèd in operatillg actlvltles 2025 2024 A Nel lexpendilure) for the reporting period {ag per SOFA) Adlustmenls for: Losses on inveslmenls Investment income and interest receivab Surplus on the sale ol inveslmenl IlncreasellDecrease in debtors (Decrease) in Creditors 1373,5701 1727,918} 98.200 122,998 1205,4741 (399.7771 14,5931 142,4811 14,282 182.8261 1273,6211 Net cash used In operatiiig activltles 1610,7441 11.264,036} B Analysis of cash aiid cash equivalents: Total cash and cash equivalents". cash al bank 816,9S7 1.155,937 C Aii8lysis of ¢haiiges in net debt 2024 Cash Flows 2025 Cash al bank Cash 81 investments 1.136,573 19.364 1,155.937 1359,9921 21,022 1338,970} 776.581 40,388 816,967 15 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 l. Accounti ng policies The priiicipa l accounting policies adopted. judgements and key sources of estimation uncerta inty in the preparation of the f inancial statements are laid out below. Basis of preparation of financial statements These financial statements have been prepared for the year ended 31 March 2025 with comparative information given in respect to the year to 31 March 2024. The flnancial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unles5 Otherwise stated in the relevant accounting policies or other notes to these f inancial statements. The financial stalements have been prepared in accordance with Accounting and Reporting by Cliarities: Statenient of Reconimended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {Charities SORP {FRS 10211 and with the Companies Act 2006. The charity constitutes a public benef it entity as defined by FR5 102. The financial statements are presented in sterling and rounded lo the nearest pound. Critical accounting estlmates and areas of judgement Preparation of the financial statements requires the Trustees and management to ma ke signlficant judgements and estimates: The items in the financial statements where thesejudgements and estimates have been made include., assessing the probability of the receipt of legacy income; determining the value of designated fund5 needed at the year end to meet specific future expenditure; assessing the impact of a variety of factors on the future income and expenditure and, in particular on whether it Is appropriate to prepare the accounts on the basis of a going concern (see below); and the basis for the allocation of 5UPPOrt Costs. 16 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 Assessment of going concern The Trustees have assessed whether the use of the going concern assumption 15 appropriate in prep3 rinE these f inaiicial statement5. The Trustees have made this 355essment in respect to a period of at least one year from the date of approval of these finaiicial statements. The Cathedral and the charity have carried out a review of fundraising. Following the review, tlie Cathedral has set up its own lundraisinB department. This charity no longer employs any Staff and although it will coi)tinue to receive donations and legacies. is not actively f undraising. The cliarity has an investment portfolio and some other funds in haiid from which it will su pport the Cathedral with grants. The cha rity pays the Cathedral to carry out its finance and administration functions. Trustees are however Satisfied that the charity has sufficient restricted cash to meet its approved grant commitments and has unrestricted and designated funds to enable it to meet it5 Other liabilities as they fall due. Trustees have concluded that there are no material uncertainties related to event5 or condltlons that may cast signif icant doubt on the ability of the charity to continue as a golnE concern. Income recognitSon I ncome is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received. Income comprises donations and legacies and investment income and interest receivable. Legacie5 are recognised In the statement of financial activitie5 when the Trustees are Satisfied that: the charity is entitled to the legacy, the value of the legacy can be reliably estimated, the executors or trustees of a will have established that there are sufficient surplu5 assets in the estate to pay the legacy and that receipt of the leEacy is therefore probable and fulfilment of any conditions attached to th@ legacy is wholly in the control of the Trustees. Divide nds are recognised once the dividend ha5 been declared, and notif ication has been received of the d ividend due. Interest on f unds held on deposit is included when it is receivable; this is normally upon notification f rom the bank of the interest payable or paid. 17 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 Expendlture recognition Liabilities are recognised as expenditure as soon as there is a legal or constrLtctive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benef it will be required in settlement and the amount of the obligation can be measured relia bly. All expenditure is accounted for on an accruals basis and is stated inclusive of irrecoverable VAT. Expendlture comprises direct costs and support COSts. All expenditure is allocated to the relevant expenditure heading. The classification between activities is as follows.. Expenditure on raising f unds comprises fundraising expenditure including 5UPPOrt costs and governance cost5. Expenditure on charitable activities includes all costs of grant making. Donated facilities The value of donated services a nd gifts in kind provided to the charity are recognised as income In the period that they are receivable, where the benef it can be reliably measured. An equ ivalent amount is recognised as expenditure under the appropriate heading on the Statement of Financial Activitie5 unle55 the gift is a fixed asset when it would be capitalised and depreciated ove r its usef ul economic Grants payable Grants payable are accounted for when they are paid unless a firm commitment to pay the grant exists at a date prior to the year end. No conditional 8raDt5 are awarded. Where the charity is awarding gra nts from funds which it has received subject to restricted terms, these restrictions are maintained within the award. Support costs and governance costs Support costs represent indirect expenditure. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include projecl management and adm inistration costs. Governance costs comprise the costs relating to the public accountability of the charity (including audit costs) and costs incurred in respect of its compliance with regulation and good practice. All support costs and governance costs are included within expenditure on raisi nE f unds. 18 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 Fixed asset investments Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and su bsequently measured at their fair va5ue as at the balaiice sheet date using the closing quoted market price. Realised gains lor 105se51 on investment assets are calculated as the difference between disposal proceeds and either their opening carrying value, or their purchase value if acquired subsequent to the first day of the f inancial year. U nrealised gains and losses are calculated as the difference between the f air value and the carrying value at year end. Realised and unrealised investment go ins lor losses) are combi ned in the statement of f inancial activities and are credited lor debited) in the year in which they arise. Debtors Debtors are recognised at their settlement amount, less any provision for iion-recoverability, Prepayments are valued at the amount prepaid. Cash at bank and in hand Cash at ba nl< aiid in hand represents such accounts and instruments that are available on dema nd or have a matu rity of less than three months from the date of acquisition. Creditors and provisions Creditors and provision5 are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transf er of economic benefit will be required in settlement, and the amou nt of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. Fund structure Restricted funds comprise monie5 raised for, or their use restricted to, a specified purpose or amouiits subject to donor imposed conditions as to use. Designated fund5 comprise monies set aside out of unrestricted general funds for specific future purposes or projects. General funds represent those monies which are freely available for application towards achieving anv charitable purpose that falls within the charity's charitable objects. Pensions The charity previously participated in a def ined contribution pension Scheme a nd the pension charEe represent5 the amou nts payable by the charity to tlie scheme in respect of the year. The charity no longer has any employees. 19 Canterbury Cathedral Trust Fund Note5 to the accounts for year ended 31 March 2025 Taxation Canterbury Cathedral Trust Fund is a registered cliarity and, therefore, is not liable to income tax, corpo ration tax or capital gains tax on incoine or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities. 2. Income froin donatlons and legacies General Funds Designaled Funds Raslricled Funds Totsi 2025 Total 2024 Trusls and Foundations Legacies Individuals Other Total 2,700 15,847 79,068 140.500 14,136 1,343 155,979 66.687 1,578 207.187 15.714 1,343 224.244 68,265 97.615 Al the year end pledges received from donors payab5e In Ihe next 3 years lotslled £20.000 {2024'. £15,000). These will be recoonised when the funds are received. 3. IIiGoine from Investm8iits and interest receivable General Fund Designated Funds Reslricled Funds Total 2025 Tolal 2024 Unil Irusls Bank and other inleresl Total 149,743 4,666 154.409 24,207 15,184 39.391 173.950 31,524 205,474 336,227 63,550 399,777 11.674 11,674 20 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 4. Expendlture oli ralsing funds General Fund tknignaled Funds Reslficled Fui)ds Total 2025 Total 2024 Slalf cos15 (Nole 71 Event and campaign costs Governance cosls (Note 61 Olliee and admifiislralion Other fundraising costs 46,376 3,177 10,860 4,669 10.102 75,184 2.712 2.712 263 2,975 263 2,975 S. Expenditure 011 charitable activities General Fund Designated Funds Reslricled Funds Total 2025 Total 2024 Grant funding.. The Chaplef of C8nlerbury Chorister 8ursarie3 Governance cost {nole 6) Office and 8dminislralion Olher adminislalive costs Total 137.381 279.719 237,383 31,566 654,483 31,566 9.540 210 10,907 686,049 996,233 30,895 9,540 210 10.897 158,028 io 279,729 268.949 1,027,128 Expendlture on support cosls are all included in tabl8 above Gener81 Fund Desynaled Funds Reslricied Funds Total 202S Total 2024 Office and adminisllaiion Campaign costs Governai)Gè Cos1$ Other Costs Slalf Support Costs 210 2.712 9,540 11,160 210 2,712 9,540 11.170 4,669 10,860 10,073 16,093 41.695 10 10 23,632 The charity is not actively fundraising and the supporl costs this year Teflecl Ihis position. SuppDrl costs af £2.g75 are included in expenditure on lundraising12024.' £41.6951 and £20,657 is included in charitablè aclivilies12024." £nill. 6. Governance costs General Fund Designaled Funds Reslricled Fur)ds Total 2025 Total 2024 Audil Fees 9.540 9,540 10,860 21 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 7. Staff costs No staff costs were incurred durin9 Year Ended Marth 2025 (2024.. 1.0 employee with full lime equiv81enl ol 0.81. The fundraising team in 2024 had joint emloyment contracts between Ihls charity and.CanlerbLJry Cathedral. In Ihe year ended 31 March 2024 the charity mel 500A of payments in lieu of notice of £14,191. There were no redundancy or paymenls in lieu of notice in Ihe currenl year. Remuneration pald lo key personnel in Ihe year (including laxable benefits. employer pension and nalional insurance conlributionsl lolalled £Nil {2024'. £22.685. which represenled 80.10 of the lolal remuneration with the balancebeing mel by Canlert)ury Calhedral). 8. Iiivestments Desi9naled FurM1s Desigiialed Funds Reslricled Funds Total 2025 {S8rasin) ICCLA} IS8rasinl Movemonls in listed investménts Markel value 1 April 2024 2,208,213 2.995.115 781,076 5,984,404 Disposals Nel unrealised losses Nel ui)realised gains 161.707) 161.7071 1120,7771 22,S77 (128,992> 8,215 22,577 Market value 31 Ma¥ch 2025 2.169,083 2,866.123 789,291 5,824,497 Cash held in Ihe inveslmenls pomlolio 20,263 2,189.346 20,123 809.414 2.866,123 5,864.883 Markel Value 31 March 2024 Cash l)eld in porllolio 31 March 2024 7013131 March 2024 2.208.213 593 2.208.806 2,995,115 781,076 18,771 7g9,847 5,984,404 19,J64 6,003,768 2.995,11 S All listed inveslnTrenls held by Sarasin & Partners LLP comprise units in the Sarasin Endowmenls Funds, a charile$ aulhorised inveslmenl fund, and those held by CCLA cfymprise unils sn the CBF Cliurch ol Eiigland Inveslmènl Fu￿1 for Incotne. Historic o)sl ol investments Year Ended Marth 2025 2,148.243 2.995.115 500,000 Historic cost ol invesln)enls Year EThled MaTth 2024 2,210,000 2,995.115 500,000 5,705,115 22 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 9. Deblors Gener31 Fund Designated Funds Restricted Fuiids Toièl 2025 Total 2024 Prepaymenls 8nd acGiued income Le9aciès roceivable Amounls due Irorn Ihe Cliapler of Can18tbury 5,137 148,750 20.465 25,602 186.019 5.129 163,431 37,269 580 169,140 153.887 20.465 37,269 211,621 10. Credltors Get￿al Fund Oestgr¢a¢ed Music Fund Restricted Funds Totsl 2025 Total 2024 Expense creditors Accruals and deferred Inc￿Me Amounts owed lo the Cliapler ol Canlerbury Other creditors 27 9.731 27 9,731 27 11,040 S1.263 112 36.044 183.743 271,050 112 352,269 410 61.133 36,044 183,743 280,920 363,746 23 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 11. Slatèmontof Fullds Asat 1 April 2(J24 I¥Ktxne rasing EKpeNlrture Cliarilabl Transfers Adiirnlies beiween fu￿5 Gains1 IL05sesI Asal 31 March 2025 Unrestri¢ted Fiinds Genera5 Funds 2[￿).256 .975 158.02B 206,906 Dèslgiiatèd luiids D*5ignaled Music Fund Cxlie Oesignaied Music Fund Saras Designaled Musit Fund CCLA Oe5ioDaled Callitdral Organ Fund Designaled Musiccampaign Fuod Oeyignaied Wesi Fionl Fund 136.74Q 2,208.8 2.995.115 31.794 3.440 68.257 81,486 1.tM9 177 165.0001 1114.8881 181,4861 75,180 2,189,345 2,86G,123 32.843 5.546 27,170 1128,0921 18,357 18,355 5.396.181 154.409 1279,7291 1101.A221 5.189,039 ReslrSG¢ed Fund5 Fabrlc and rolated expendiiuro Apprentices ISloneiwayoDryl Furwj Apprenlice8 Ganoi2J Slaiiitd rya$$ SI￿1￿0 Stone¥ eulls Chapd 10 Clean Fabrfc Fund Sloii& M8sons Sione Auction Fabric Fun Wesi Front 11.993 109.937 3,242 34.698 14.691 1.569 224.163 516 3,628 12,511 113.S6S 13,2421 1,145 905 35.843 15.596 11.S691 1224.1611 18.3691 3.699 3,701 Music Maril & Hans Rousing Clithr Buis8ry Reusing Cli￿r Bursary Income Qhonsler 5chdarship lund Choral Schd8r5 Music Fund C&lhedral Organ Fund Adopt a Slop Iorgani Your Volce Erydi)wnienl 781.076 ,215 789.291 18,0731 7,767 24.207 248 131,5661 7.519 1361 141.922 71.8a8 7G2 213.810 7G2 {81 1.281 42 1,303 0111or Mi5cell8n&ou8 P8P8r conSerV￿10n ArcNves 2.315 7.175 40 76 537 2,391 7.712 41 1.349.29 107,656 1268.949 8.215 1.196,220 Totsl ofFunds 6.945.735 2.975 g3.607 6.572 165 Ullresiricled lunds are avala￿8 ol IhB fc*YAthich tho Charfywa$ e￿aL￿15hed. There are fDurdesign8led lunds.. Ibe tlesignaied M￿sp¢ Fund Isli(w Y lir￿$ above) thich I￿$ been invesied Iof Iha long term and vthose Income Is used lo suppurf the MUS￿ and chor81 liadil on of Ihe Calhedr4. the CalhEdral Organ Fund vhiicli was sd aside lei rebuilding the C31hedr31 Organ and ongoing mainleiianc8 ol the org*', Ihe Musiccsmpagn FurKI ￿th1th ￿111 enaile u5 lo cJeate new and be¥oko Bvenls, working closely with colleaouas atloss the CHlhe[k￿. pa1bC￿atyWthIn Ihe music leam. the thLwrsand tho lay ClerfLs', the We51 FroDI Prcject Is forfabii¢ repais lo the Wesl Front ol Ihe Caihe(Iral. Reslrwed lunds have beeii es18blished 101 5peofvc puipDs85 in linewilh the I￿1￿CtIOns1mP0sed bydoncws. Mosl reslrided luiids ale eXpec￿d lo be spenl Krylhin Ihu rte￿ 36 months. y0v￿Ver Ihe Mar51 al￿ H￿5 Raus5w (￿01r Bursary lund is invesieLS lo ielain ils cawtd and Ihe annual Intome Is vsed lo swpom d￿•Ster bw$8des. 24 Canterbury Cathedral Trust Fund Notes to the accounts for year ended 31 March 2025 12. Pension Commitments During the previous year the charity participated in a Group Personal Pei)sion Sclieme, whereby it paid, for eligible employees, a defined contribution into the members, ind ividual pension pla ns. An insurance company independently administered contributions to the scheme. The charity did not have any employees in the current year. The pension cost for the year was £Nil12024: £2,929). Contributions of £112 were OLttstanding at the year end12024.' £1121. The pension scheme has iiow been closed. 13. Capital and Financial Commitments There were no capit81 or financial commitments at the year end which have not been recognised i n the accounts12024: ENill. 14. Contingent Liabilities There were no contingent liabilities at the year end12024- £Nil). 15. Related party trans3Ctions and Trustees, remuneration No remuneration was paid to the Trustees, nor were any expenses reimbursed to them in the current or prior year. No travel expense5 were met for Trustees travelling on business for the charity12024: EN ill. Donations received from Trustees during the year were £Nil12024.. £50,000). Canterbury Cathedral Trust Fund is wholly for the benefit of Canterbury Cathedral but is not controlled by the Chapter of Canterbury. Gra nts payable to the Chapter of Canterbury during the year are as set out in note 5. In the year ended 31 March 2024, the charity occupied premises owned by the Chapter for which a rent of £2,050 was paid. The charity no longer employs any staff and therefore did not occupy any office space or pay rent during the year ended 31 March 2025. The Charity pay5 a charge of £9,000 including VAT to cover administration services provided by Chapter to the Charity12024.- E6,0001. The Chapter met sundry costs of £3412024.. £2,073) which have been recharged to the charity. 25 Appendix- comparative information Canterbury Cathedral Trust Fuiid stat&ment of Financial Activities for the year ended 31 March 2024 Nole General Fund Designated Funds Reslllcled Funds Total 2024 Incoine froin.. Donations and18gacies Investments and inleTesI receivable 31,286 16.240 47.526 2,700 329,294 331,994 S3,629 54.243 117,872 97,615 399,777 497,392 Total Exponditur& on: Raising funds Charitable activities 75.155 29 393,186 75,184 1.027,128 633,942 Total 75.155 633.942 393,215 1.102,312 Net {expenditurèl before revaliialions {27,6291 (301.948) 1275.343) 1604,9201 Nel Ilossesllgains on inveslmenis 1180,021) 57,023 1122,998) Net lexpenditurÈ}Ilncome {27,629) 1481,969) 1218.3201 1727.9181 Traiisfers betweeii fuiids 11 {2,2701 2,270 Net movement in funds 129,8991 1481.%91 {216,050) 1727,9181 Re¢oncilialion ol fvnds-. Balance brought fotward al 1 April 230,155 5.878.150 1,565,348 7,673,653 Balance ¢aTfi8d forward al 31 March 200.256 5.396,181 1,349.298 6.945,735 The above resulls reflect the lolal gains and losses of Canterbury Calhedral Trust Fund and arisè wholly from continuing aclivilie¥. 26 Appendix- comparative information Canterbury Cathedral Trust Fund Balance Sheet as at 31 March 2024 Note General Fund Designated Funds Reslricted Funds Total 2024 Fixed assets Investments 5,203.328 781,076 5,984,404 Current assots Deblors Cash al bank 167,709 123.227 290.936 1,431 617,041 618,472 169,140 1,155,937 1,325,077 415,669 415,669 Current liabilities Creditors.. amounts falling due within one year 10 90,680 222,816 50,250 363,746 Net current assèts 200,256 192,853 568,222 961,331 Total net assets 200,256 5,396,181 1,349,298 6,945,735 Funds 200,256 5.396,181 1,349.298 6,945,735 Revaluation reseNes gains of £279,289 are included in the above funds (£1,787 losses in designated funds and £281,076 gains in reslricled funds). Designated funds represent funds set aside by the Trustees for specific purposes. The Trustees can amend the designation at any lime. Canterbury Cathedral Trust Fund is a registered company, number 05588837 {England and Wales) 27 Appendix- comparative information 2. Income from donatlons and legacies General Funds Designale(I Funds Restricled Fuiids Tolal 2024 Trusts and Foundations Le.gacies Individuals Collections Other Total 2,700 2,700 15,847 79,068 17,000 14,286 (1.1531 64,782 31,286 2.71K) 63.629 97,615 Al the year end pledges received from donors paYa￿e in Ihe nexl 3 years lotalled £15,000 {2023-. £20,000} These will be r8cognised when Ihe funds are re￿ived. 3. Income from iiivestments and interest receivable General Fund Designated Funds Restri¢led Funds Total 2024 Unit trusts Bank and other Interest Total 312,182 17,112 329,294 24,045 30,198 54,243 336.227 63,550 399,777 16.240 16.240 4. Expanditure on raising funds General Fund Designated Funds Restricted Funds Total 2024 Staff costs {Nole 7) Event and campaign costs Governance costs {Nole 61 Office and adminislralion Other fundraising costs 46,376 3,177 10,860 4.669 10.073 75,155 46,376 3.177 10,860 4,669 10,102 75,184 29 29 Support costs of £41,695 are included in the above. 28 Appendix- comparative information 5. Expenditure on Gharitable activities General Fund Designated Funds Restricted Funds Tolal 2024 Grant funding: The Chapter of Canterbury Chorister Bursaries Total 633.942 362.291 30,895 393,186 g96,233 30,895 1,027,128 633,942 Appendix - comparative information 6. Governance costs General Fund Designated Funds Restrict8d Funds Tolal 2024 Audit Fees 10.860 10,860 7. Staff costs General Flind Designaled Funds Reslricted Funds Total 2024 Salaries and w8ges Soaal se¢unly cosls Pension costs 39,103 4,344 2,929 39,103 4,344 2,929 46,376 The average number of full-lime equivalent employees during the year was 0.812023.. 2.11. Aclual average headcounl for Ihe year was 1.0 {2023.. 3.01. The fundraising team had joint employrnenl contracts between the charity and the Chapler. There were no employees receiving emo5umenls over £60,CM)O {including laxable benefits bul excluding employer p8nsion and national insurancE (x)nlribulionsl in the currenl year or prior year. During the year there were no redundancy ¢osls bul 3 months payment in lieu of no11￿ £14.19112023'. ENill was incurred of which 500kn was wnel by the charity. Remuneration paKt lo key personnel in the year (including iaxable benefits, employer pension and national insurance conlribulionsl 1olalled £22.685 (2023.. £51,712). This represents 80% of the lolal remuneralion. with Ihe remainder ol the costs being mel by the Chaplei. 29 Appendix- comparative information B. Ilivfjsitnonts Designaled Fund5 l)wTraled Fund5 Deslgnaied Fuiids Raslricied Total 2024 IM&GI ISara$knl ICCLAI Isarasknl Moveiiionls In Ilsitrd Inveglment$ Maykel ￿8￿e l April 2023 5.383.942 739.053 6,122,995 Addllk)n8 Disp05a15 Nel realised k)sses Nei unreallsed gahs 2,2fO,COJ 2,995,115 S.205.115 15,220.7081 1178.6391 55.641 15.205.708) It78.2341 115.OCQI 11051 57.428 11.78n Markel value 31 Mardi 2024 2.20B.213 2.995.115 701.076 5,984,404 Cosh hold in th￿ ￿V&SIme￿Il por1r(￿O 18,771 799,847 19,364 6,003,768 2.208,OCI% 2.99S.I IS Markel Value 31 M8rch 2023 Cash lrt porifolio 31 Marth 2023 Tolal 31 Marcli 2023 5,3B3,942 739,053 2Q,601 765,654 6,122,99J 26,601 6.149.59S 5.383.942 All Ii¥led fnveslinert5 h8ld by M&G Seotsilles Lwnled ¢(ffj￿Is8 unrts tyi Chalif￿d ccfflrnon &wÈ$imefil luftd vthllsl Iliose by Sarash & P￿nerS LLP Compri￿ unrts In Ihe Saraslii En(ltswméois Fund. a thafitiès a￿kOnst￿ InveslmeDI lund, wid Ihoye held by CCLA coniprlse vnlls tyi the C8F Chwch ot EngL8nd Invesimenl Fund lor Inccrfne. 9. Debtors General Fund Designaled Funds Restricted Fund5 rolal 2024 Prepaymeiils and accrued income Legacies recewable Ainounls due from the Chapter of Canterbury 5.129 162.ClJO 5,129 163,431 1,431 580 169,140 167,709 1,431 10. Creditors General Fund Designaled Music Fund Restricted Funds Total 2024 Expense credilors Accruals and deferred income Amounts owed lo the Cliapter of Canterbury Ollier Gredilors 27 11,040 27 11,040 7g,203 410 222.816 50,250 352,269 410 90.680 222,816 50,250 363,746 30 Appendix- comparative information 11. Slalement of Funds Asal l April 2023 In(x)me FLwid iaL8ing Exwrfffjure Cliarit8b TTansleF5 ivilies belwaen fuiids GaiTrs1 IL05strsI As cll 31 2024 UnreslrictÈd FU￿d$ General Funds YJO.155 47,526 75,155 2.270 200,2.56 Deslgnafed Desigiialed MusiG Ful￿ M&G Designatèd Music Fur¥1 Olhor Qtsigiialad Music Fund S8r8sin Desi9na19d hhii&c Fund CCLA DesignaiÈd Caihadral Organ Fuiid Oesign&)ied MusEc Canipaign kund 08slgnaiÉd Wbsi Froni Fund S,383.942 136.740 312.182 1312.1821 (S,2￿a.708) 11715.2341 136.740 2.208,806 2,995,115 31,794 5.369 18,357 2.210.593 2.995,115 11,7871 30.548 5.159 321.761 1.246 210 1&356 321.760 5.878,150 3Jl.994 1833,9421 1180.0211 5,296.181 Restrlcigd Fund$ Fabrlc and relAted e¥pwidlture Appr•iillces General S18ined Glass stud Stones Bulls Chopal to Clean Fabrlc Fund Ston8 M854Th5 Stone Auction Fabrlc Fund Wfrql Front 11.405 106.441 3.115 33.338 13.642 1.507 215.376 309,695 588 3.496 127 1.300 1,049 109.937 J,242 34,698 14.691 1,569 224,183 8.369 8,787 1361.4451 Musl¢ Maril & Hans Raii$lno Cholr &1188ry ftHu5iiig Choir Bws8ry Inc