Charlty number. 1156695 ST EDMUNDSBURY CATHEDRAL TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
ST EDMUNDSBURY CATHEDRAL TRUST CONTENTS Page R8farence and Admlnlstratlve Detalls of the Charlty, Its Trustee8 and Advlsors Trustees. Report Independent Examinerfs Report Statement of Flnanclal Actlvltles Balance Sheot Nolas to the Financial Statements 9-15
ST EDMUNDSBURY CATHEDRAL TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025 Trustees The Rev S Geileskey J M Pendlington The Rev J P Hawes D J Spat1( Charity reglstared numb&r 1156895 Prlnclpal offica Abbgy House Ang&1 Hlll Bury St Edmunds IP33 1LS Presidenl The Rev J P Hawes Accountants MA Partn8rs LLP Chartered Accountanis 7 The Close Norwich Norfolk NR14DJ Bankers Lloyds Bank plc 9 Buttermarket Bury St Edmunds Suffolk IP33 1 DF Page 1
ST EDMUNDSBURY CATHEDRAL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present their annual report together with the financlal statements of the Charity for the year 1 January 2025 to 31 December 2025. Objectiv88 and activities a. Pollcles and obJactlv•s The charitable objectives as stated in the CharIt8 goveming document are: (a) Ihe appllcation of funds or property to the support of such charitable purposes conneded wlth the cathedral as the dir8clors shall, from time to tim8 in Ih8ir absolute disGretion, det8rmine; and (b) th8 application of furKls or property to suth other charitsble purposes or such charitable bodles as the directors shall from time to time (Jelarmine. In setting objectlves and planning for activitles, the Trust@88 have given due (xnsideration to general guidanc8 publlshed by the Charlty Commisslon relatlng te publ[¢ benefit, Includlng the gUIdan 'Public benpflt: runnlng a charity (PB2}'. Achlevements and performance a. Main achi&vem6nts of the Charlty Th8 purpos& of the Charity continu8S to be supporting the mission and ministry of The Cathedral Church of Saint James and Saint Edrnunds ("St Edmundsbury Cathedral"). in cooperation with the Cathedral Chaplar. There has been no change in Trustees durSng the year. St Edmundsbury Cathedral Trust continued to rgc@iv@ fund8 from th8 Patrons scheme during 2025. Currently, other than retalnlng the agreed reserve to meet the Trust's rninimal costs, these funds are automatically transferred to St Edmundsbury Cathedral at the end of each month. The way forward for the Trust wtll be dgtemiined by the Trustees when the final port from Sl Edmundsbury Cathedral's Fundralslng Consultant has been received by Chapter and Chapter has itself decided on the n8W Structure to replace the Trust in its present form. Financial revlow a. Roview of the year The stat8m8nt of financial activitias reflects operational activity tor th8 year ended 31 D8cemb8r 2025. Th6 Charity recelved donations of £218,917 {2024: £330) toward8 Its Abbey, R8born Projert which Is planned to commence In 2026. The Charty recelved a further £5,OOQ 12024: £nll) towards tts ECO projects and £45,984 (2024: £34,364) In respact of tho Patron sch&me. The Charfty made donations lo St Edmundsbury Calhedral of £37,358 (2024: £35,820). The Charitys n8t income for the year was £227,616 {2024: £38). Unrestrlcted reseNes at thg year end date were £4,949 (2024,. defldt £1,175). b. Reserve8 policy Th8 Ch8rily transfers incom8 from Patrons and any other donations on a regular basis. It is the pollcy of th& Charlty to maintain sufficient funds to cover management. administration and support costs, which, as at 31 December 2025, are estimated to be £5,000. Actual funds at 31 December 2025 were £4949. Pag8 2
ST EDMUNDSBURY CATHEDRAL TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Slrudure, governance and managemant a. Constitution st Edmundsbury Cathedral Trust Is a Charitable Incorporated Organlsatlon, reglstered ch8rlty number 1156695, and is constitut8d und8r a Memorandum of Asso¢lation. b. Mothods of appolntment or electlon of Trustees The management of the Charity is the responsibility of the Trustees who are elected and COwOPt8d under th& terms of the Memorandum of Assoclatlon, c. Flnanclal rlsk management The major rlsks to the Charity hav8 b88n idantifi8d and reviewed. Systems have been esiablished to mitigate th&sg rlsks. The Trustees follow good practice guidanc8 from r8cognis@d ind8p8nd8nt voluntary sector standards organlsatlons to ensure that Its servlces are of the highest quality and to reduce risk. d. Recruitment and training Tnjstee candidates 8r8 selected by tho cuNent board of Trustees wlth the alm to enhance the skills and experlence of the board as a whole. Now Truste8s are appointed with the specific needs of the Charity in mind at the time of the vacancy, in terms of skllls, expertise, experience and knowledge of the relevant field of activity and advice which Ihe Trust@as naed. New Trustee Induction Involves the provision of a copy of the govemlng documents and minut88 of prior m861ing5. Plans for future periods The Charlty's rola will remain to support St Edmundsbury Cathedral by passing on the monthly Patrons, income and any other donations. Paga 3
ST EDMUNDSBURY CATHEDRAL TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Statsment of Truste08' r8sponslbilitie8 The Trustees are responsible for preparing thè Trustees, Report and the financial slaternents in accordance with applicablé law and Unitad Kingdom Accounting Stsndard8 (United Kingdom Genarally Accepled Accounting Pracllce). The law applicable to charities in England & Wales requlres the Trustees to prepare financial statements for oach financial year which give a tru8 and fair view of th8 State of affalrs of the Charity and of Its incoming resources and application of resources, Including its income and expenditure, for thal period. In preparing these flnancial statements. the Truslees are requlred to: select suitable accounting policies and then apply them consistently., obseNe the methods arKI principles of the Charities SORP (FRS 102),. make judgments and a¢countlng estimates that are reasonable and prudent, stat8 whether applitrable UK Accoullting Standards (FRS 102) have beer] follow@d, subject to any material departures disclosed and explained In the financial statements. prepare th6 financial 5tatem8nts on Ihe going concern basis unless it 18 inappropriate to presume that the Charity wlll contlnue In business. The Trustees are responslble for keeplng adequate accounting records that are SLrfFlclent to show and explaln the CharItS transactlons and dlsclose wÉth reasonable acGuracy at any time the flnanclal pc>sitlon of the Charity and enable them to ensure that thg financial statements comply wtth tha Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Memorandum of Associatlon. They are aloJO responsible for safeguarding the assets of the Charlty and hence for taklng reasonable steps for the preventlon and detectlon of fraud and oth8r irregularlties. Approved by order of th& members of the board of Trustees and signed on their behalf by.. The Rev J P Hawas Date,. 10 March 2026 Pagg 4
ST EDMUNDSBURY CATHEDRAL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Independent Examlnorfs Report to the Trustees of St Edmundsbury Cathedral Trust I'the Charlty. I report to the charity Trustees on my exarninalion of the accounts of the Charity for the year ended 31 December 2025. Responslbllilles and Basis of Report As th8 Trustees of the Charlty you are responsible for the preparatlon of th8 accounts in accordance with the requlrements of the Charllles Act 2011 (Yhe 2011 Act'}. I report In respect of my examlnatlon of the Ch8rlly's accounts carrled out under sectlon 145 of the 2011 Act and in carrylng out my examlnatlon I have followed the appllcable Dlrectlons glven by thg Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examlnerfs Statement Since the Charlvs gross income exceeded £250,000 your examlner must be a member of a body lisled in saction 145 of the 2011 Acl. l Gonfirm that l am qualified to undertake the examination because l am a member of Th8 InstitLAte of chartad Accountants in England and Walès. which is on8 of th8 listed bodies. Your att&ntion is drawn to tha fact that the Charity has praparad tha accounts in accordance with Accounting and Reporting by Charities: Statement of Recomm6nded Practice applip2b16 to charities preparing thelr accounis in accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republic of Ireland (FRS 102) in preference to th8 Accounting and Reportlng by Charitles: Statemant of Recommended Practic8 issued on 1 April 2005 which is referred lo in the extant regulations but has been withdrawn. l understsnd that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Pr8clice effective for reporting periods beginning on Dr after 1 January 2015, I have completed my examinatlon. I confirm that no matters have come to my att&ntion in connection with tho examination giving rne cause to believe that in any material respect.. accountlng records were not kept In respect of the Charlty as requlred by section 130 of the 2011 Act" or the accounts do not accord with those records., or the accounts do not comply th th6 appllcable r6qulrements concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirement that the accounts give a 'true and fairf view which is not a malter considered as part of an Independent 8xaminalion. I have no concerns and have come across m other mallers In connectlon with the examination to which attention slK)uld be drawn In thls report In order to enable a proper understanding of thg accounts to be r8aoh8d. Page 5
ST EDMUNDSBURY CATHEDRAL TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 This report is made solely to the Charity's Trustees, as a body, in accordance wlth Part 4 of the Charlties {Accounts and Reports) Regulations 2008. My work has b8en undertaken so that I might state to the Chariws Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fijllesl extent permitted by law. I do not accept or assume responsiblllty to anyone other than the Charity and Ihe CharitWs Trustees as a body, for my work or for Ihis report. Dated.. l O Marth 2026 Mr F M E Shlppam Bsc FCA DChA MA Partners LLP 7 The Close NOlCh Norfolk NR14DJ Page 6
ST EDMUNDSBURY CATHEDRAL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Unre5trlcted funds 2025 Restrlctod funds 2025 Total funds 2025 Total funds 2024 Note Income from: Donatlons and legacles Charftable actlvltie8 Other income 223,917 223,917 45,984 330 34,3S4 1,164 45,984 Total income 45,984 223,917 269,901 35.858 Expendlture on: Charltabte actlvltles 39,860 2.425 42,285 35,820 Total expendlture 39,860 2,425 42,285 35,820 Net movement in funds 6.124 221,492 227,616 38 Reconciliation of funds: Total funds brought fOard Net movement in funds {1.175) 6,124 (1,175) 227,616 (1,213) 38 221,492 Total funds carrlpd forward 4,949 221,492 226,441 (1, 175) The Statement of Financial Actlvlties includes all galns and losses recognised in the year. The notes on pages 9 to 15 fomi part of these financial statements. Pag8 7
ST EDMUNDSBURY CATHEDRAL TRUST BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Note Currenl assets Debtors Cash at bank and In hand 155 228,566 375 228.721 375 Current liabilities Credltors: amounts falling duo within on& year 10 12,280) (1,550) Net current assels I liabilities 226,441 (1.175) Total net assets 226,441 (1. 175) Charlly fund8 Restricted funds Unrestrlcted fijnds 221,492 4,949 11 (1, 175) Total funds 226,441 (1, g 75) The financial statements wer8 approv8d and authorised for Issue by the Trustees and signed on their behalf by. The Rev J P friawos Date: 10 March 2028 The notes on pages 9 to 15 form part of these flnanclal statements. Page 8
ST EDMUNDSBURY CATHEDRAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEWtBER 2025 Ganaral Informatlon The Charity is a registered Charitabl8 Incorporated Organisation in England and Wal88. The registered address and princlpal offlce Is Abbey House, Angel Hill, Bury St. Edmunds, IP33 ILS. Accountlng pollcles 2.1 Basls of preparatlon of flnanclal statements The financlal statements have been prepared in accordance with the Charities SORP {FRS 102) - AccounUng and Reportlng by Charities". Staternent of Recommended Practi applicable to Gharities preparing their accounts in accordance with the Financial Reporting Standard applicabl& in thg UK and Republic of Ireland IFRS 102) (effective 1 January 2019), the Financial R8POrting Slandard appllcable In the UK and RepubllG of Ireland {FRS 102) and the Charities Act 2011. The financl81 statements have been prepared to give a 'ttue and fair, view and have deparl8d from the Charltles {Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fai¢ view. This departure has involved following th8 Charities SORP {FRS 102) publlshed In October 2019 rather than th8 Accounting and Roporiing by Chariti8s: Slat8men( of R8comm8nded Practice effective from 1 Aprll 2005 whlch has slnce been wlthdrawn. St Edmundsbury Cathedral Trust m66ts the dofinition of a public b6n&fit antity undgr FRS 102. Assets and liabilities are InEtially recognlsed at historfcal cost or transaction value unless otherwSse stated in the relevant accounting policy. 22 Income All income is recognised oncg the Charity has entitlement to the income. it is probabl8 that th8 income wlll be recelved and the amount of incom& receivable can be measured rellably, Income tax recoverable in relation to donations received under Gift Aid or d8eds of cov8nant is recognised at the time of the donation. 2.3 Expenditure Expenditure is recognised once there Is a legal cr constructlve obllgatlon lo transfer economic benefit to a third party, it is probabl8 that a transfer of economlc benefits will be required in geltl&ment and the amount of lh8 obligation can be measured reliably. Expendlture on charltable activities is incurred on directly undertaking the activities which further the Charity's objectives, as w&ll as any associated support ¢osts. All 8xp8nditure is inclusive of irrecoverable VAT. 2.4 Debtors Trade and other deblors ara recognised at the sttment amount after any trade discount offered. Prepayments are valued at the amount pr6paid. 2.5 Cash at bank and In hand Cash at bank and In hand Includes cash and short-term highly liquld Investments wlth a short malurily of Ihroe months or less from the date of acqulsltlon or opènlng of the deposlt or slmllar account, Page 9
ST EDMUNDSBURY CATHEDRAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng poll¢les (contlnued} 2.6 Llabilitles and provisions Llabilitles are recognised when there is an obligation al the Balance Sheat date as a result of a past event. It is probable that e transfer of economic benefit will be requlred in setllement, and the amount of the settlement can be estlmated reliably. Liabilities are recognis8d at the amount that Ihe Charity anlicipat88 it will pay to settle the debt or the amount it has recaived as advanced payrnents for the goods or services It must provide. 2.7 Flnanclal Instruments The Charity only has financial assets and financlal Ilabllltles of a l(Ind that qualify as baslo finanGlal instruments. Basic flnanclal Instruments are initially recognlsed at transaction value and subsequenly measured at thelr seltlement value with th8 exception of bank loans which are subsequently m8asur8d at amortised cost using Ihe eff6clive interest method. 2.8 Fund accountlng General funds are unrastricted funds which are avall8ble for use at the dls(xetM)n of the Trustees In furtherance of the general objectives of the Charlty and which hava not been dasignated for other purposes. Restricted funds are funds whlch are to be used In accordance wlth speclfic restrlclons imFxJsed by donors or which have been ralsed by the Charity for particular purposes. Th8 COSt8 of raising and administering such funds are charged against the sp8crfic fund. The aim and use of each restrlcted fund is set oul in the notes to the financial statements. Income from donations and 1ogacie8 Unr8Strictod Restricted funds funds 2025 2025 Total funds 2025 Total ncls 2024 Donations 223,917 223,917 330 Total 2024 350 330 Page 10
ST EDMUNDSBURY CATHEDRAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Income from charitabl8 activiti83 Unrestrlcted fvnds 2025 Total funds 2025 Total funds 2024 Patron Scheme 45,984 45,984 34,364 Total 2024 34,364 34,364 Other Incomlng resources Unrestrlcted funds 2025 Total funds 2025 Totsl funds 2024 Compensation Claim 1.164 Total 2024 1,164 1,164 Analysis of expenditure on charitable activities Summary by fund typa Unrestrl¢t8d funds 2025 Restrlcted funds 2025 Totsl 2025 Total 2024 Fundraising 8xnditUr@ Support costs 37,358 2,502 2,425 39,783 2,502 34,272 1.548 39.860 2,425 42,285 35,820 Tofal 2024 35,829 35.820 Page11
ST EDMUNDSBURYCATHEDRAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Independent examlnerfs remuneratlon Thg indepandent examlner's remuneration amounts to an independent examiner fee of £2,280 (2024 - £1,548). Trustees, remuneratlon and expenses Durlng the year, no TNstees recelved any remuneratlon or other benefits (2024- £NIL). Durlng the year anded 31 December 2025, no Trust66 8xpenses have been incurred (2024 - £NIL). Debtors 2025 2024 Due within one year Other debtors 155 10. Credllors: Amounts falllng due wlthln one yoar 2025 2024 Accruals and deferred Income 2,280 1.550 Paga 12
ST EDMUNDSBURY CATHEDRAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11. Stalemant of lunds statoment of funds - current year Balance at 31 Docambor 2025 Balance at 1 January 2025 Income Expenditure Unrestricted funds Ggneral Funds (1,175) 45,984 (39,860) 4,949 R88tricted funds Abbey Reborn ECO 218,917 &ooo (2,425) 216N92 5.000 223.917 {2.425) 221,492 Total of funds (1,175) 269,901 (42,285) 226,441 The Abbey Rebom restrlcted funds relate to funds held lowards Ihe creation of a new Visitor Centre, repair of the hlstorlc fabri& conserve the natural environment and improve the foDtt)ath network that links them all together. The ECO reslrlcted funds relate tr) funds held tr)wards EcologlLxI project works. P8g6 13
ST EDMUNDSBURY CATHEDRAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11. Statement of funds (continued) Slatement of funds - prlor year Balance at 31 December 2024 Balance ar l January 2024 Income Expenditure Unrestricted funds General Fund8 (1,213) 35,858 (35,820) (1,175) 12. Summary of funds Summary of funds - current year Balance at 31 December 2025 Balanco at 1 January 2025 Income Expendllure General funds Restricted fijnds (1,175) 45,984 223,917 (39,860) (2,425) 4,949 221A92 {1,175} 269,901 (42,285) 226,441 Summary of funds- prlor year Bal8nce at 31 December 2024 Balance at 1 Jsnuary 2024 InGon7e Expendlture General funds (1,213) 35,858 (35,820) (1, 175) Page 14
ST EDMUNDSBURY CATHEDRAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 13. Analysls of n8t assats b8twaen funds Analysls of net assets between funds - Current year Unreslricted Restrlcted funds funds 2025 2025 Total funds 2025 Curr8nt ass&ts 7,229 12,280) 221,492 228,721 (2,280> Cr8ditor6 due withln one year Total 4,949 221.492 226.441 Analysls of net assets between funds - prfor year Unrgstricted funds 2024 Total funds 2024 Current assets Creditors due within one year 375 (7.550) 375 (1.550) Total (1, 175) (1, 175) 14. Related party transactions Durlng the year the Charlty made pawnents totalling £37,358 {2024: £32.933) to The Cathedral Church of Saint James and Saint Edmunds. Bury St Edmunds, a connected charity. At the year end date no amount8 were owed to or due from The Cathedral Church of Saint James and Saint Edmunds, Bury St Edmund3. There wer8 no other related party transactlons durlng thls or the prfor year. Page 15