2024-03-31-accounts

NORWICH CATHEDRAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENOED 31 MARCH 2024

NORWICH CATHEDPAL THE CORPORATE BODY OF THE CATHEDRAL CHURCH OF THE HOLY AND UNDMDED TRINITY OF NORWICH Governed by a Constitution and Ststutes dated 11 May 2022 made under the Cathedra15 Measure 2021. RegiSte￿d Charity no. 1201015 LEGAL AND ADMINISTRATIVE INFORMATION CHAPTER Executive Member5 of Cha The Very Revd Dr Andr8w Braddock- D8an The Reverend Canon Dr Peter Doll- Canon Librarian (Also Vice Dean) Th& Reverend Canon Andrew 8ryant- Canon for Mission and Pastoral Care Thg R8vergnd Canon ￿dan PL8ttgn - Canon Prg¢gntor Non-Exe¢utlve Members Cha ter Lay Canon Lucy Heywood (Retired 19 July 20231 Lay Canon Elizab8th Wi9gins- Senior Non-Ex8culive Memb&r of Chapt8r Lay Canon Marie-Lyse Numuhoza Lay Canon Timothy Proctèr Lay Canon Sir Nichol8s Bacon Chaptar Csnon The Reverand Julie Boyd (Appoint￿ 19 July 20231 CHAPTER STEWARD IChi8f Op8Tating Officer & Chief Financi81 Offic8rl Frederique Barones Van Till The Chapter Office 65 The Close Norwich NR14DH CATHEDRAL AR HITECT I SURVEYOR TO THE FA8RIC Mr Henry Freeland ARCHAEOLOGIST Dr RoL2nd Harris MASTER OF THE MUSIC Mr Ashley Grote Page I

NORWICH CATHEDRAL FINA co ￿l￿EE Lay Canon Timothy Procler- Chair person The Revd Canon Andrew Bry8nt- Chair and Director NCEL The Revd Canon Aidan Platten- Canon Cu8tos Mr Chri5 Yeates Mr Rowland Cogrnan Mr Aiden Watts lappointed 28 June 20231 HE AUDIT AND RISK COMMirrEE Dr Bryony Falkus - Chair p8rson Mr James Allen Prof Marian Brandon Ms Sarah Daniels Mr Stephan Phillips Mr Graharn Walson Prof L12 Wiggins Th8 R8v8r8nd Julie Boyd AUD￿ORs MA Partners Audit LLP Statutory Auditors 7 The Close Norwch NR140J ARCHITECTS Freeland, Rees, Roberts 25 City Road Cambridge CB1 18D MANAGING AGENTS Savills Lawrence House 5 St And￿W,$ Hill Norwich NR2 1AD BANKERS Barclays Bank P 517 Red Lion Stre8t Nonmch NR1 3QH SOLICITORS Howas Percival LLP Flint Buildings 1 Bedding Lane Norwich NR31RG 8TOCKBROKERS Barralt & Cooke 5 Opie Street NonMi¢h NR1 3DW Page 2

NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 The Chapter subrnits its annual ￿pOrt and the audited accounts for the year ended 31 March 2024. 1. Nornlch Cathodral Stratè and Alms NonNieh Cathedral is thè sè81 of the Bishop of Notwich and the Mothér Church of the Diocese ol NorwKh. At the heart of its lrfe is the Csth8dral Foundation which maintains a daily pallern tsf corporate prayer and worship and sha￿$ with the parishe3 of the Diocese in every aspect ol the m15siori of Christ and of the Church's VOGation. Drawing on ils Benedictine inheritsnce, the Cathedral is the focus for the Bishop's ministry and a home of education. music. art and SCi8nc8, where hospitality 15 8Xtended to people of all ages in th8 name of Almighty God. In July 2023 the Cathedral Chapter affimied the Cathedral's voGalion to be.. A place where all are welcome A place to share learning A pLace to grow in holiness A place to servè othars Living out thi5 vocation, Chapter has agreed three strategic prioritie5 for the Cathedral for 2023-28.. Growin Falth.. enabling all who share in the Cathedral's life to deepen theirencounterwith the Gospel of Christ in prayer. worship and daily life. in Visitors.. growing visitor and pilgrim nurnbers, enabling all who ￿rne to be inspired by Norwich Cathedr81 and engage with it as a pla￿ of worship, leaming and hospitality Servi Communrt18s'. using thg Cathedral's strengths and partn8rships to serve the comrnon good, challenge social and environmental injustice. and inspire cornmunities across Norwi¢h, Norfolk and WavewTr8y. 1.1 Growln falth Al 1 April 2024 thg Cathedral Community Worshipping Roll stood al 3081301 in 20231. It is pleasing to See worshipping numbers r8tuming to their pr8-Covid nLtmb8rs. Alongside those worshipping in person, the Sunday 10.30 a.m. Sung Eucharist also attracts between 300400 online worshippers each w88k. W8 are grateful for all those who 5UPPOrt our worship as Servers, Chalic A58lStants, Readers and Interce8sors as well as our team of stewards and those who lead our Sunday School. The worship attendance 18 increasing and the￿ Is an incraasè in those requesting baptism, especialty for those who ar* not regular worshippers but identfy the Cath6dr81 as their spiritual home,. a Pla￿ they visit to pray or light candles. We provide a rangg of opportunities forthe worshipping ¢ornmunity to meet togetherforfellowship and to explore Iheir faith. Wee￿Y Listening Lunches, 8xplore books from the Library Collection and the bi-monthly Benedictine Evenings discusses how th8 Rule ol St Benedict still speaks to our lives today. M88ting once a term, Norwich Walks offers opportunit18S to discover some of the city's history whilst Hidden Cathedral explores sorne ol the less visited part5 of thg Cathedral site. New this year a monthly Community Coffee Moming and a haK lermly Cathedral Community Book Group have provided much appreciated opportunities for members of th8 Cathedral cornmunity to get to know one another. In 2024 ther& are plans to Start a Current Events Forutn expknring the Christs'an response to some ol the major issues f8cing our society. The Cathedral ￿MaInS one ol the largest congr8gatiDns in the Diocese. Through its Sunday and weekday worship. it has an abilty to draw in people who may not connect with their parish church so easity. Its digital p￿sence is 6xp8nding'. for example. online engagement for Advent and Christmas increased from 7,013 in 2020 to over 20,000 in 2023. Christmas in-person attendanea ha3 also increa58d. The Christm85 processions and Christmas Eve and Christrnas Day worshippers numbered 6,845 in 2019 and 8.535 in 2023. This, cornbinad with angag8ment with visitors and pilgritn5, is of gr88t significance to the mission ol the whol8 church. The Cathedral r8cogni58S the n8ed to deepen and nurture this spiritual 8ng2g8ment, induding growing Its congregation5 to be younger. more diverse and deepening in lailh. Broadening the Cathedral's pattem ol worship has been noted as an 8spiration, 8lorigside finding appropriate ways io consLJIt with the Cathedral community and worshippers on how best the Cathedral can nurture their spiritual growth. Use of the Cathedral Library for study, borrowing and general vi51ting morg than doubled between 2022-23 and 2023-24. This core activity of the Library - being open for use consi81enlly offers theological r8sourc8s and as w8 offer a model of Benedictine hospitslity and leaming by being open for all to undertake and support learniry in a welcoming atmosphere. L88rning and growing faith continues through Norwich Celllre for Christian Leaming INCCLI, informal theology 88S8ions held in the Library. The'Listening lunch. is a thriving community activity.. this is a weekly event open to all, inspired by the monastic tradition of silent meals accompanied by sorneone reading aloud. Tha Cathadral Schools dapartmént focusses all Family Leaming events around three key points (opening up the Cathadr81 to all. telling the story of the Cathedral and providing stepping stones to worship in the Cathedral) and aim5 to offer two frge events each yéar at Advent and Easter. The y8ar 2023-24 allowed for a real strategic a5S8ssment of growth and development. For the first part of the year the number of secondary pupi15 Vlsiting grew on¢9 again lo around 1000 secondary-ag8 pupiL% for this academic year, wilh 670 visiting last academic year. which is back to pre-covid level5. Page 3

NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 1.2 En in Vlsltr)rs and Pil rims With over 600,000 visitors in 2023 lin 2023124 we welcomed over 615,000 people to the Cathèdral compared with 512,000 in the prèvious yearl, Norwich Cathedr81 is the region'5 rn05t visited place. The opening ol the renewed keep and galleries at Norwich Castle planned for 2024 is expected to draw an additional 100,000 visitors to Norwich, rnany of whom will also visit the Cathedral in r8sponse to the Museum's focus on telling the story of Norman and medieval Norwch. The increase in numbers 1$ reflected in incre8s8d don8tions and increas8d turnov8r lor both the Cathedral Shop and the Refectory Café. Neverth81gSs, we alway5 ensure there are places in the Cathedral where vlsllors can find peace and qui8t to reflect and pray. In February 2023 the Chapler, Ih8refore, 8nnounced p18ns lo appoint a Vi51tor and Pilorim Engagement Manager and to restructu￿ and inlegrats its approach to welcome and donations. This is a significant new investment in this area. During the year the Ref8Ctory toi18ts also had 8 major refurbishrn8nt- th8 first Significant improvements since the faalil'es opened some twenty y8ars ago. We ar8 enomou51y grateful lo our wonderful volunteers who 8UPPOrt our Ministy of Welc0rn8. At 1 April 2024 we had 5041515 in 20231 working 311 areas of th8 Cathedrdl's life. Together they offered over 25,000 hours of volunteering whith 18 worth to the Cathedral ov8r £350,000. 1.3 Sorvin Communltlos No￿l¢h and Norfolk is a wonderful and vlbrant pla￿ in which to INe and work. Yet il also has 8ionific2nt cha118rig8s. Education81 attainment, mental health and wellbeing remain poor, with issu88 Wlth self-harm and male suicide, violence and sexual offen￿. The C8th8dral already engages with the wider community in 3 variety of ways. P8rtn8rs include local 8nd national charitie5 le.g. Christian Aid, English+ Hope into Action, and St Martin's Housing Trustl., other prominent Norwich organis8tions le.g. UEA, The National Writing Centr8, Norfolk and Norwich Festival, the Nopmch Science Fe5twall,' and local businesses. The relationship with Nomch School a signthc8nt part of the Gathedr81 s ¢Jaily life. Amongst our visitors ar9 many who come to the Cathedral in particular need and we are grateful lo our Day Chaplains in offering listening ear and signposting on to other agen¢ie¥ in the city. We work in partnèrship with the other Anglican churches in the city through the City Centre Churches Mental Health Group and S￿ working with MIND Norfolk and Waveney to d8velop a mental h881th awa￿ne$S Course for front line Cathedral stsff and volunt8èrs. W8 are alsts grateful lor our close ties with St Martin's who give us advice and guidance on those living with homelessness. Our partnership continues with Htspe into Action in supporting individuals move out of homglessness. With members of the Calhedral congregation, we support hvo hous88 in the city, off8ring friendship and support as those living in the houses seek to rebuild their Iiv8S. Ch8Pter also offers a fre8 base for Engli3h+ to hold on8 of their w88kly cl8sS8S, teaching English to ￿lUgeeS, asylum seekers 8nd others new to th8 city forwhom English is not their first language. Some of our volunt89rs offer refreshm8nt5 duriry th888 t8aching Sessions. Each ye8rw& hold, in partnership with the Matthew Proj8Ct, a serviceforthosa lostto addiction and, in partnership w￿h Tin￿NOrtoIk a service forthose who have eXper￿nCe￿ baby loss. This year we also hekl a service for thosè bèraavéd by suicida, Supportod by HM Coroner and her Chaplain. Each year we tithe 10% of our receiv8d plann8d giving with the Community Alms Committee agreeing a Ilst of recipients. This year we donated to Able2B. Buikl, Friends of the Holy Land. Hemsby Inshore Rescue Servi¢8, Kids for Kid5, Medical Detection Dog8, Norfolk Community Law Service, TimeNorfolk, The Bishop of Norwioh's Al-Ahli Hospital Appeal. The Feed. The Hamlet, The John Aves Education Project. The Norwich Centre The Dean and Chapt8r8lso donates annuallyfrom the Christmas collection to one Intemational, on9 Nab'onal and on8 local charity. 1.4 Stawardshl The Cathedral ￿ fortunate in having strong financial foundation¥, not1ga¥t through its proparty portfollo. Nonetheless the currènt financial climate has highlightgd the b8n8fits of broadening out the Cathedral's income streams. The most obvious ol these is income frorn visitors and events. Activety planning lor su¢h in¢￿8$e$ should give us the financial capacity to invest more in our visitor facilities and stsff to realise the opportunities thi5 repre5ents,' help fund wider comrnunity engagement.. and ¢onlribule lo making sure we have the underlying staffing structure the Cathedral needs. Increasing choirbursari8S to widen access to Cath9dral music is of further interest. Building the Cathedral's financial resilien¢8 18 89t alongside Chapterfs responsibilities to maintain the Cathedral's fabric. Wlth a timely approach to repaits and conservation. the finan¢ial support of The Fr￿nds. and the b8n8frt of the nèw buildings compl&t8d in Ihg last Iwenty Y￿r$ Ilhe Hosty and Refectory), c2re of th8 fabric is a strength. Page 4

NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 2.Hi hll ht$ and Porforman¢e 2023.24 2.1 Strate In this year the working through of the implerngntatitsn of the New Cathedral's Measurè sèttlad in. This resultsd in 8 n9w Chaptèr rn8mb6r l Trustee. Th8 Reverend Julie Boyd. being appointed 8$ Chapter Canon. a role that historically existed at Nowch Cathedral which supports the alignment of the charity with the experience of Parish ministry. During the yearthe Dean, who started in January 2022. worked on preparing and launching th8 naw Dean and Chapter Strategy in July 2023. Visitor Welcom¢ In 2022-23 total visitor ¢Jonations We￿ £242,265 includin9 Gift Aid, ￿presentIng an av8rag8 donatM)n of 43p Icornpared to lotsl visitor numb8rs recorded). Early signs in &te 2023 were that visitor donations are increasing due to increased visltor numb8rs, but th8 average gift remains at 43p. If tha average donation could increase to £1, could yield a furthèr £300,000+ Even a modest increa88 to an average donatv)n of 65p would yield a further £150,OOO+ Hern￿ the first strategic project initiated was the review and improvgment of thè Visltor Walcome at the Cathedral12nd Strategic Priority). Frorn February 2024 th8 W81come and Donations tearn wa3 r8VI8W8d 8nd restructured. and a rnewvisitor and Pilgrim Engagement Manager IVPEMI and Welcome and Donatsons Tearn Leader IWDTLI appointed in April 2024. To further irnprov8 th8 welcome, the Public Lavatories in the Refectory building were r8furbish8d in February- March of 2024. After 20 years of use and with much high8r usage than initially expected they were updated with automatic flushes. Also the accessibl8 toilet wa5 improved with an automated door. and plans are bein9 prepared to get the glass access door automated in futu￿. ital w•lcome In kgeping with the Calhodr31's thrèe strategic priorities. the overarching airns of the Cathedral's digital cornmunic8tions are to encourage p80ple to join in with our servicès and events and to promote the Cathedral bs a welcoming and inspirational City landmark there for everybody in many different ways. In 2023-24 there wer8 182,440 unique visitors lo the Cathedral website. On 8verage, the w8b5ite attracted rnore than 15,000 Msitors ea¢h month. with a spike of 22,(￿1 visitors in December for Advent and Chri8trn85. an Rebornl ThroLJghout 2022 and 2023, 8fter more than 70 years of providing music for d8ityworship, the organ underwent8n extensive rebuild to preserv8 it forfuture generations. The workwas completed in summer 2023 laft8r a continued period wheffj silence was reouired in the Cathedral during voicing before Easterl arid a spe¢ial $9rigs of Organ Reboml concerts took plac8 in Ntsvembèr 2023 to celebrate the retum of the organ. A ts"melapse vidèo showing the rebuilding of thè organ was especially popular. attracting morè than 23.600 views across all online plarforms, and the timelapse was 81s0 played in the Hostry as part of an organ 8xhibition for visitors. The considerable fund$ (restricted and unrestrlctedl raised lor the refurbishment ol the Organ Since 2021 hav8 now bean fully utili5ed, resulting in a successful project that was completed on tirne and within budget. Please sge under Note 9 FUNDS. Glrl and Bo Choristers Norwich Cath8dr81 Choir currently features ￿ independent sets of treble voices.. ￿nty boy Choristers aged 8.13 and trNenty-four girl Chorister5 aged 11-18. Th8 allo. tenor and bass parts are sung by six Lay C18rk5 (professional singers) and six Choral Scholars. In October 2023 it was annouTh￿d that from Sèptèmbèr 2024 girfs woukl also be welcx>rned as junior cMristers. The Coronatlon Bging a kncal point of focus during a signifKanl national owasion is one of the ways the Cathedral serv88 Norwich and Norfolk as a whole. and th8 Coronation of HM King Chade5 111 in May 2023 was a joyful exarnple. The Cathedral Coronation serVi￿S and events W8r8 highlighted via a planned programrn8 of Social media signposting to the Cathedral's website, as well as print and digital posters across the Cathgdral sit8. Ahead of the Coronation, th8 D8an also recorded special message for the Cathedral's on5ine channels. 'City landmarf< to lead tha way for Coronation, was the headline of articlas in the EDP and Evening News highlighting the Calhe(5ral's Coronation celebrations which includ8d live streaming the Coronation and a 5P8cial $6rvlce ol prayer and thanksgiving. Ther& was also further covarage on BBC Radio Norfolk, th& Visit Norwich, Network Norfolk and Dioce3e of Norwich websites. and In a special EDP Coronation supplement. Page 5

NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 2.20 ratin ht5 taffin Therg havè be￿ only minor changes in tha stsffing at Nomch Cathedral, which continuès to operate with a small team. So support roles have increasèd (Close Wekomers et¢) to reestablish rèsourcas lost during Covid. The appointment of 8 d8dicalèd Visitor and Pilgrim Engagement Manager shows an investsnenl against exp8Ct8d higher income. Norwch Cathedral is working towards b8coming a Living Wage a¢cr*itgd 9rnployer in summer 2024. Eeolo Netzero and Biodivorsl Norvrich Cathedral is sctively working towards achieving the Church ol EngLgnd's Net Zero taryel by 2030. The overall energy ¢on5umption has been considerably r6duc8d by improved use ol boiler controls, the inslallalion ol new Iherrnoststs, improvgd draught proofing and the wider use of LED lighting. The Cath8dr81 h85 bèèn on a green electricity tariff sinc8 2018 and now has working group considering how best to replace our gas boil6rs and redu￿ its carbon footprint in thè future. The Cath8dral is grateful for th8 SUPPOrt of the Norfolk Wildlife Trust in helping us draw up plan5 to improve the biodiversty within the Close. The introduction of iwo.no mow areas and introducing wildflower plant plugs is only the beginning as further wldflower meadow areas have been identified. A number of n8W swift boxes have boen introduced on properties in the Close and the partn8rship with the Hawk and Owl Trust continues to support a pair of peregrine faleons nesting on our spire. Sadly, during this financial year none of th8 chicks survivèd bul things ar8 looking more hopeful for this cal8ndar year. Nomch Cathedr81 has been awarded the A Rocha Silver Eco Awards. 2.3 Financlal hl h hts Oue to the high Volatility in the engrgy rnarkets and iner68sed costs for utilities the budget for 2023-24 started off at a deficit. Thanks to the choice to only tie into a 6-fflonth high-rate electricity contract, followed by a rn0￿ favourable further contract, combined with a warmer wnter and a policy to reduc8 usage where possible, the eventual costs of utilit18S tumed out eonslderably Iow8r than budgeted. Additionally, the interest on r858rves tumed out considerably higher than 8xpect8d. Good trade by the Shop and Refectory (Norwich Cath8dral Enterprises Ltd) also improved tho end results. Scholarshl s and Bursart8S The 18vels ol scholarships were Set al a lump sum after years of contributing 50ts1o of school fees. This helpgd control expenditurg ori scholarships, while the rates lor the coming year have begn a9r88d its be 30•h of school fees. Pro In 2023-24 3 higher number110+1 than usual of18rgor houses than usual were refurbish8d. In line with reducing th8 earbon footprint of the Close properties and the govemment guidelines on Eneroy parfomanee. further improvements to the property porttolio have continued. which means th81 there are no more properties with a F or lower r8ting and th8 overall state of th8 building5 keeps improving. Thr88 commercial properties that had been standing empty during Cowd, were finally relet at the end of the year. Th8'Globsl lease, ol prop9rty ￿aSed by Norwich School was renewed la 25 year cycle) ￿SUlting in an increasg of incorn8. 3. Cathedral Goveman¢¢ The members of th8 Chapter have the general Control and managemellt of the administration of the C8thadral and, thccordingty, are th8 Chsrity Trustees of th& Chapter for the purposes of the Charities Act 2011 folknwing the commencement of the charity provisions under section 53161 ol the Measure in relation to th8 Cathedral. 3.1 Trusto•s I Cha tsr Membershi The Norwich Cathgdral Chapter eonsists of Executnie M8mb8rs (who carry out day to day Cathedral duties) and Non-Executive Members. Page 6

NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 Th8 Chapter musl have more Non-Executwe Mernber5 than Executive Member5 and at 18a5t Iwo-thirds of tho Non-ExecutlV8 Members must be lay persons. The Chapter musl have al least eight members but no rn0￿ than twelve. The Executive Members of the Chapter a￿.. the Dean and the th￿e Residentl8ry Canons. Thare are five Non-Execulive Memb8r5. Please see the list of names of the Chapter rnernbers on the first page. Th8 Chapter rnembers are appointed by recommendation ofthe Nominats'ons Corntnitt88. The Sen￿r Non-Executive mgmber of Chapter is separately appointed by the Bishop of Norwich after consuttalion with the Dean. The Execub've Mernbers of the Chapter (the Residentiary Canons and Dean) ￿ceIve housing as part ol their employment. which is classified as an Authorised Trustee Benefit. We corifirm that Trust88s do not r8(%IV8 any furth8r und8dar8d ben8fits. 3.2 Ch2 ter Function The Chapter rnust direct and oveTree the administration of the affairs of the Cathedral., and in performing that duty. Ihe Chaptèr must in particular.. al order the worship of the Cathedral and promote ils mission., bl formulats, aft8r consulting th8 Bishop, propo8aLs relating to the general dire¢bon and mission of the Cathedral., cl prepare an annual budget for the Chapter," dl pr8par8 an annu81 r8POrt for the Chaptsr and annual accounts for aLtdit and subs8quent approval., el keep under review the Constitution and the Statutes., manag8 th8 property which 15 V8St8d in the Chapter and th8 Iricom8 accruing from it and, in partscular, ensure that ary necessary rgpairs and mainl8nanc8 in respect of the Cathedral and its contents and other buildings and monuments are carried out.. and gl hold tha Common S8al of th8 Cath8dr81 and affix it when r8quired. The Chaptor rnu¥t. within t8n r￿nthS of the 8nd of its finan￿81 ygar, send a copy of its apKounts and annual roport lo the Church Commissioners, the Bishop and the Charity Commission. The Chapter has the power3 relating to investment and other u8es of money which are set out in secknn 24 of the Measu￿. The Chapter is not permitted to use the power ￿nferred by section 292B ol the Charities Act 2011 (social inveslrnenl powerl. 3.3 Cathedral O •rations The Chapter is supported by the Cathedral staff team a5 well as a number of ststutory and operational cornmittees. The Chapter Trustees appoint a Chief Operating Officer and Chief Financial Officer lo undertake administration in the Cathedral as well as 8n Ar¢hit8Ct or Surveyor of the F8bric of th8 Cathedral. Al the moment th8 roles of Chief Operating Offi￿r and Chief Financial Officer ara both executed by one person, the Chapter Steward. The Chapter Ttuslee5 oversee the financial 51rategy, 5UPPOrted by the Chief Financial offi￿r, with advice from the Finance Comrnitt8e Advi50r5'. and this is audited by th8 Audit & Risk Comrnitt88 which mg9ts at least twi¢9 8 ygar. This, together with an external finanaal audit lundertaken by MA Partners Audit LLPI, provides scrutiny of routine financial administration and longer-terrn resourcing. Hurnan R8source m8tters a￿ managed by the Ch8Pter St6ward. Chapt8r subscrib88 to th8 58FViC8s of MENTOR, part of the Nalwesl Group, who offer HR advic8 and guidance. and maintain and provide the Staff Handbook and other forrnal HR doeuments. Wh8n members of staff leave or retire, the Chapter undertake5 a review of 8ach post 8long5ide consid8ration c>f th8 futur8 staffing and development needs of the Cathedral. This ensures that r8sources are used to good effe¢l and deliver best value for money. The Chapter employs 55143 full-tirne equivalentl members of staff, both full and part-time. and is grateful for the commitment, enthusiasm and dedication of the staff team. 3.4 Norwlch Cathedral Enle rlses Llmlted NCEL .Com no. 01055452 The Cathedral's trading operations (Cathedral Refectory and Shopl are run by Norwich Cathedral Enterprises Lirnited, an independent sub3idiary company of the Norwich Cathedral charity. The Chapter is the sole shareholder and is responsible for appointing DirectQls. The board meet5 at lea51 three time5 a year under the Chairfflanship of the Canon for Mission and Pastoral Care. In January 2024 the Cathedral Shop moved location from the Nave to the Locutory and ben8fitt8d from a r8furbi5hrngnt. The Refectory Is outsoUr￿d to Breadsource Ltd, paying commission as w811 as a (x)ntribution toward8 th8 use 8nd c18aning ol the Refectory building. Page 7

NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 Norwl¢h Cath￿ra1 Choir Endowment Fund NCCEF Chari no. 294671 The Choristers at Norwich Cathedral are financially supported by th8 Choir Endowrnent Fund. This independently ￿gIstered charity is chaired by all Independent Chair and manages the investments carefully to spend all generated incomè on Nonfvich Chori$tèr scholarships. 3.5 The Relation5hl between the Cathedral and the Dlocese In fulfilling its purpose and priorities. the Cathedral is rnindful of th8 Vision of th8 Dioc858 of NoFwich. to bè transformed by Christ. prayerfully, pastorally and propheti¢ally. The Catheilral also seeks lo echo the vocation ol the wider Church of England as it Sgrv88 the whole nation in ways that a￿ centred on the pallern of Jesus Christ. shap8d by Ihe five marks of mission". Proclaim the Good News of the Kingdom Teach. nurtur8 and bapti5e new believers Respond to human need by loving 3ervice Seek to transform unjust structures of society to challgnge violen¢8 of évery kind, and to pursue peace and ￿cOncl15at10n Strive to safeguard the integrity of Creation and sustain and ￿neW the life of the earth. And endeavour8 to bg a ¢hur¢h that is simpler. humbler, and bolder. The College of Canons has the functions Conferred by the Appointment of Bi3hops Act 1533 on the body referred to in trat Act as the Dean and Chapter of the Cathedral. The Colltsge of Canons is ind8p8ndenl of the Chapt8r and neith8r th8 Co11898 fK)r its rnembers lin th&r capacity as suehl form part of the body corporate of the Cathedral. Th8 m8mbers of the College ol Canons are.. the Dean,. every Suffragan Bishop ol the D￿C8s8,. every Canon ofthe Cathedral,. and èvery Archdeacon ol th8 Dioc8S8. The College ol Canons rne8ts On at l&ast on6 occasion in each calendar year and supports the ministry and rni8sion of the Calhedr81, acting as critical friends lo Chapter and Ambassadors for the Cathedral in the Diocese. 3.6 Alllèd Charlties Norwieh Cathedral Trust- Charl no. 1069305 The principal object of the Norwich Cath8dral Trust 15 'the support of such charitsble purpose5 connected with the Cathedral and the Dean and Chapt8r a5 the Trustees shall from ts.me to time in their absolute discretion deterrnine". Any international donations and gifts 8r¢ rnanag¢d in partnership with Chapel & York UK Foundation. Th8 Statham SoGiety. the Cathedral's group of rnusic SLJPPOrt&r3, has grown in m8rnber5hip with a regular monthly incornè. This fund ensures the financial viability of speci81 musical project5. while also engaging the members with special events. Friènds of Norwl¢h Cathedral- Charl no. 249460 The sim of the Friends of Norwich Cathedral is to further the religious and oth8rcharitable work of the Chapterof Norwich Cathedral and lo promote the re5toralion, maintenance, repair and improvement of the fabric and furnishings of the Cathgdral Church in the spirit which inspire(S its founder, Herbert de Losinga, when he caused its building8 to be undertaken. 4. Polic and Com lian¢ 4.1 Risk mana oment The Chapter regularfy reviews the major risks to which th8 Cath8dral is exp088d, and systerns have been established to mitrg818 these, as w811 as review of the related policies and procedures scrutini88d by thg Audit & Risk Committee. The Statement of Delegated Authority ISODAI and R888rv8s Policy are r8V18wed by the Finance Committee and all findings are reported to the Trustees. 4.2 Safe uardln Safeguarding of children and vulnérablè adutts is a prK)rityforthe Chaplerand is Induded as a Standing Agenda item al the Chapter Meetings. The Cathedral's Safeguarding Committee. rneels quarteray and at least three Extarnal Advisors sit on the Cathodral's Safeguarding Cornmittee.. Prof8s50r Marian Brandon, Professor tsl Social Work at the University ol East Anglia (who Is now the Chairl. Becky Booth, Deputy Manager. Norfolk Safeguarding Adult Board and Ms Natasha Rennolds Iuniversity ol Easi Ang1&41. Revd Canon Andy Bryant has been th& C8thodral's Namad Parstsn from 7 March 2022. In th8 year 2023-24 one safeguarding case was active which, with supportfrom th8 Dioc85e, was found to be unfounded and hencè was not reported as an incident. In ordgr to 188rn frorn this cas8 an internal audit was completed and reported to the Trustees. Page 8

NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 4.3 H•alth & Safe The threat ol fi￿, terrorism and flooding is reviewed annually with 8 Risk As8888m8nt carried out by The Redcat Partnership (the Cathedral's Health and Safety Advisors based in Norwichl. and the Cathedral enjoys the full cooperation of th& Norfolk Fire Sarvice. The Cathedral Continues lo work closaly with its in5ur8rs. Ecciesiastical Insurdnce IEIGI, to mitigate against risks. The Safety Cornrnille9 rne8ts regularly to review any accidents and incidents. training needs and any policy update5 reqLkir6d. In 2023-24 no ificidenls were reported. A practica fira drill during a service was done and the lessons learnt discussed with the Trustees. 4.4 G8n•ral Data Protection R¢ ulation GDPR Norwich Cathedral operates in line with The Data Protectv)n Act 2018. During this year Ih8r8 were Iwo subjeci acces5 requests were received and successfully concluded. S. Publ1¢ Benèflt NoNich Cathedral. sincg 7 November 2022, as 8 r8gist8r8d Charity, has regulation by the Charity Commission by agreement of th8 Church Commissioners. The Dean and Chapter always adhere lo good practic8 in the way it conducts the affairs and business of the Cathedral. One thing which is central to all that we do is providing public benefit lo th03e we $grv8 and lollowing Charity Commission guidance in this respect. Some examples of this includg.. 5.1 Growln faith Providing acts of worship every day of the year, and especially the well-attended services during Easter and Christmas. Providing worship online for Ihose not being abl8 to join in p8r50EI Providing Scholar5hip5, Bursaries and Awards Itotalling c.£155,0001 to the Chorister3 Providing educational activities lor school children each year. with over 8,000 pupils visiting the Cathedr81 annualty Providing work experience placements for secondary school Children, 3 this year Providing volunle8ring QPPOrtunit18s, including training to ov8r 600 volunteers lrt should be noted that approximately 10% of our volLJnte8rs use their experience at Norwich Cattiedral as a way back into work either due to special needs or after illness or mental breakdown) Providing adult education opportunlties in partnership with Norwch Christian Centre for Leaming INCCLI 5.2 Welcomln vlsitors Providiw a wam) and welcoming visitor experience., with over eoo,000 visitors a year Providing facilities for conf8ranc8s, èvents, concert5 and sèrnin8rs èach year Welcorning Pilgrim Groups The Cathedral organisèd local 8v8nts to support the coronation of his Majesty ￿n9 Chartes 111 and Queen Camilla on Saturday. 6 May 2023. 5.3 Servln Communities Providing the Cathedral. frge of charg8 to th8 Bishop for major Diocesan Servicès Sharing skills and knowledge of the Dean and three Residenliary Canons by their a¥sistan¢8 and advic8 for pari8he8 within the Diocesé of Norwich The Cathedral Community has adopted Hope into A¢tion Horn88 lon8 used for refugees) providing befriending and support with Iheir intggr8tion and the second housé aceommodating a family fleeing domestic abuse Engaging with mental health issues. including running rnindfuln8SS S88sions for those struggling witt) low 18vel mentsl health problems, all ol the C8lhedral Chaplains training to become Community Champions for mentsl health to better support visitors with mentsl health needs, som8 Staff tr8in8d as M8ntsl Heatth First Aidèrs, snd the organisation of a city centre church rE8lwork on how lo help deal with mental health issues The provision ol a database of differgnt agencies off8ring support to irnprov8 sign posting for visitors who comè with a range of needs The Calhgdr81 signing up to the HEAR pledge, sUPPOrting all staff and volunteers to be able to support and identlfy victims of Domestic Violence Providing opportunities to work in partnership with others on social and community issues. especialty with regard to morè vulnerab18 social groups Providing free weekly use of the Weston Roorn to English+,' a local Christian Charity who offer English cla5se5 to r8fugees and asylurn seekers Congregational collections, plann8d giving and (x)118Ctions handled on b8h8lf of third parties lot211ed £90,143 for tha year. The Cathedral policy is that ten per cent of the monies given as planned congwational giving is rnade available for alms giving at £6,400. The total collected in the main Advent and Christmas services is also donated to charities. Afterdeduction of expenses, £9.981 was donated betw88n English+ The Childr8n's Soeiety and Al Alhi Hospital. In the yearto 31 Marth 2024, twelve charities were supported. both local and overseas. including Door to Door, Friends of the Holy Land. Future Radio. GOSH, Magdalene Grtsup, MNDA Norfolk, Norfolk Community Law, Opening Doors, Priscilla eacon Lodge, Sistema, Stroke Assoeialion and The Matthew Pmject Page 9

NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 6. Mana èment of Assets and Resources 6.1 Cathedral Fabric As Cathedral Ar¢hits¢t. Henry Fre81and over58eS th8 rn8intenanc8 of th8 Cathedral Fabric and regularty advises th& Chapter, prioriti3ing proj8cts and overseeing the work of contractors working on the buil(Jing. As part of this Quinquenni81 In5P8Ction work, the followiry project5 hav8 baen completed in the last twelve months.. The new auinqu8nnial In5P8Ction Report w88 185U8d ompletion of Organ project The organ gallery to n8V8 South ga118ry ladder inst8118d Roof r8P8irs'. on Loculory, South aisle bays 11 to 14 and St Sa￿OU￿s Chapel roof repairs completed Nave roof spac8S Were specialist cleaned and all roof spaces air tested. South transept wesl roof slope roof leadwork r8paired lo stop leak and w8St fdinwat8r pipe unblock8d and repair Blocked south cloister rain watef pipe unblocked and buttress stonework conserved Scaffolding and close inspection of smbul810ry plaster outsid8 the Bauchon Ch8pel Cloister Walks Li9hting repaired and Crucifix light added 10. Hostry Ruins south wall capped 11. Former Tank Room roof rep8irad 12. Historic Library Floor screed consolidated 13. Sir Timothy Colrnan's G8rt8r Banner installed in th8 South trans8Pt 14. Icon in the Ambulatory conserved 15. Building work for people counte[5 on all entranc85 carried out 16. R8fectory Lavatories refurbishecl Chapter ar6 indebted to the Friends of NoNl¢h cathedral who knndly fund much of the general upkeep of the Calhgdral building. This has 8nabled Chapter to 5teadity work through the most urgent itetns within the auinquennial Inspection report, putting them in good order. 8eing proactive, as opposed lo reactiv8, in the maint8nanc8 of th8 Cathedr81 15 k8y to the well-mainiained Cathedral building which w9 all value so much. 6.2 Cathedral Pro The 120 properties in The Close and irnmediate vicinity are the major source of incorne for the Chapter. Th8 Chapter 8nd Propety Cornrnittee, Ih8refore, eonsider it a priority to invest in these histori¢ buildings lo maintain standards and enable the generation of SU5tsined income into the lulure. A major priority now and in coming years will be to further improve the energy efficiency of our building3 ahgad of the targets set by government for rental properties. Our policy to target the worst performing prDperties and those b&ng refurbished to See what improvem8nl rn8asur85 can be done. Rentsl income afflounted to£2,030,973. Investment property return on investment (before revaluation) forthe yearwas £1,180,258 as per note 8 to the accounts. Arnendrn8nt to the Fiv8 Ye8r Valuation lundert8ken in 20211 took place at 31 March 2024, and concluded the satne position as 31 March 2022. As can be seen, the ￿tuM on the Property Endowment is substantial and enables the Chap18r to offer an enhanced programme of mission and outreaeh. In the Cut￿nt economic climate, il is even MO￿ important to keep abreast of the property market's trends and d8v8loprn8nts. The Chapter 15 k88n to maintain a bal8ncèd portfolio within The C105e. The Cathedral. Refectory and Hostry a￿ insured on a first4oss basis for £115.252.500 with the Etxlesiasti¢al Insurance Group. 7. Finances- Focus Following on from the Financial highlightsas well as the fUrther￿pOrtS mentioned abovethe finaneAal strategy for Norwich Cathedr81 is locussed on.. 7.1 Incorne develo mènt As rnentionad above, the Dean and Chapter are working to increase Income beyond the income generated from property and investment assets, by developing the donations and visitor income. 7 2 Cost control The Cathedral manages it funds by Setting annual department bLJdg8ts, which are controlled by way of the Slatem8nt of Delegated Authority and Purchase Order Policy. These are reviewed annually by the Finan￿ Committee. Any additional expenditure is approved in adv2nc8 by the SMT and Chapter. Page 10

NORWICH CATHEDIiAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2024 7.3 Strate nin funds The Cathedral is fortunate to hav8 acces8 to d8Slgnated and wstricted funds, tollected from special donations, legacies and gifts and earlierannual surplus. The Dean and Chapter ini*'ated the prO￿sS to align these funds. wh8re po55ibla. with thè naw Cathadral Strategy. As detaI￿d on page 17. the C8thedrdl general fund for th8 year ended 31 March 2024 showe¢J a surplus of £180.751. After fund transfers tsl1£77.8041 this gave a nel increase in Genaral Funds of £102,947, which logelher with £473,211 of funds brought forward. enabled Chapt8r to Tllaintsin 115 C&5h reserve figure. Due to the impending higher costs of utilities, other costs wgre also controlled tightly." such caution and prudenc8 eventually resulted in a higher surplus than budgeted. Overall, the income generated via the Donations Team bounced back with the visitor numbers ￿tUmIng lo pre-COVID leve15. despite 8 period of silence needed in the Cathedral during the voicing of the organ. How8V8r, th8 incom8 of the Shop was interrupted due lo its rnove into the Loeutory. Since this r81ocation though, it is good to note that income is once again increasing. The property endowm8nt P8rformed better than expected, due to enhanced planning. an increasgd 18am of C8rp8nt8rs and quick tumover of tenants after refurbishmeTrt. 7.4 Desl nattons 2023-24 At year end, Reserves w8re incrtased in line with our Reserves policy. Various designations were able lo be made, including.. the establishment of a Development fund ahead of the updatgd Stratsgy expected over thè summer of 2024 A fund for the rgfurbishtnent of the Refectory toilet doors Further 5UPPOrt lor the EPC Property Fund. Proce(lures aro in place to ensure that expenditure is properfy attributed to specific funds before unre81ri¢18d r8serves are called upon. The Chapterfs aim is to ensure that unrestricted funds are maintsined at reasonable levels, to allow flexibility in their availability and use. 7.5 Bud The budg8t pLgnning process is detailed and includes meetings between budget holders and the Chaptgr Steward and Finance M8nager. a review ol financgs requir8d to support departmental development plans, a reviewwith Savills regarding ￿ntaI incotnes. a r8view of the previous year's activities and consideration of centr81 Chapter sponsored projects directly related to the 2ims and objectives of the slra18gic Plan. The draft budget is scrutinised ill detail by the Finan￿ Committee and the Chapter, and the final budget is reported by Chapter. The budoet planning process includes Chapter undertaking a review of the pay atKI reffluneration of all membern of Staff. The Chapter's budget, including NorNich Cathedral Enterprises Limited for 2024125 was set at a conservative deficit of £eo.500. This is rnainly due lo the volatility of the energy market. The Dean and Chaptar ar8 r8Vl8wing how the Cathedral's en8rgy consumption can be redu¢8d in the future and arrange fixed term contract5 at appropriate intervals lo minimise costs. 8. Goin Cone•m Having con8ider8d in detail the above note on the 2024125 Budget. the cash flow projgctions to April 2025, th8 d8tailed Ri8k Register. the Reserves Policy, the 18rg8 rapital ba58 of the Pioperty Endowment and the currently unutilised loan facility, the Ch8pt8r is confident that the Cathedral is more than able to rneet its liabiliti8s as th8y fall for the foreseeable fubjre. The Chapter thefefore considers that it is appropriate to pr8par8 th8 financial staternents on a going conoem basis. 9. R8s•N•S Polic The Dean and Chapter acknowledge theirstatutory duty to have a Reserves Policy and for details of this to be published within Ihe Annusl Report and Financial Statements. This policy 18 not static and will be reviewed by the Finance Committee and proposed to the Dean and Chapt8r on an annual basis. The Dean and Chaptèr consider that it needs the sum equfvalent to three months of salaries and essential Costs tsken from the 2024125 budget io be held in r83eNe li.r.0. £550,000). During this financial y8ar a further £102,947 has been added to cash res8rv8s, which currently stand at £576.15e. The Dean and Chapter aspire to reach this targ8t by March 2026 without th8 ne8d for recourse to the overdraft f8cility. A bank overdraft facility has be8n unus8d. 10.A roval of Annual Re These account5 wore approved by the Chapter on and a￿ signeil on its behalf by Tho Very Reverend Dr Andrew Braddock Dean ol Nornl¢h Page 11

NORWICH CATHEDRAL AUD￿OR's REPORT TO THE CHAPTER OF NORWICH CATHEDRAL Oplnion We hav8 audited the financial statements ol Thg Chaptèr of NO￿lCh Cathedr81 for the year ended 31 M8rch 2024, which Comprise the Consolidated Staterngnt of Financial Activities. the Consolidated and Cathedral-only Balance Sheets. th8 Cash Flow Statement and the notes to the financial statements. The financial ￿pOrting framework that has been applied in their p￿paratIOn is applicable law and United Kingdorn Accounting Standards. including Financial Reporting Stsndard 102 The Financial Reporting Standard appliGable in the UK. In our opinion, the financial stalementS'. give a true and f5ir view of the state of lh8 group's and of the Cathedral's affairs as at 31 March 2024 and of the group's net mov8menl in funds for the year then ended., and have been propedy prepared in accordance with United Kingdom Generally Aw8Pt8d Accounting Practice and th8 guideline5 specified by the Church Commis$ion8rs under the powers giv8n lo them by Se¢lion 27 of the Cathedrals measu￿ 2021. Basis for oplnlon We conducted ouraudit in a¢cord2nce witt) Internation81 Standards on Auditing IUKI and applicable ￿w. Our rasponsibil￿e$ under thosè standards ar8 further described in thg Auditorts ￿SponsIbl1111£S for the audit of the financial statements section of our r8POrt. We are indapendenl of the group In accordance with the ethical requirements that are ￿levant to our audit of the financial statements in th8 UK, including the Financial Reporting Council's Ethieal Standard. and we have fulfilbd our other athical sponsibilities in a¢cord8nce with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provKle a basis for our opinion. Re$ponslbiliti•s of thg Chapter members for the financial statements As explained more fully in th8 Statement ol the Chapterfs Responsibilities. the Chapter members are responsible for the p￿paratIOn of the finanaal slat8ments and for being satisfied that they give a true and fair view, and for Such iniernal control as th8y de18rmine Is ngC8SSary to enabl8 th8 preparation ol financi81 statetllents that are free from materlal mis$tat8m8nt, whether due to fraud or error. In preparing the finanoal slatem8nt5, tte Chapter members arè responslble for a5se$sing the group's and the Cathedral's ability to ¢ontinue as a going concern. disclosing, as applicable. matters re18ted to going concern and using the going concern basis of accounting un*ss they either intend to liquidate tha group or the Cathgdr81 or to Cesse operations. or have no realistic alternative but to do so. Auditorf5 r+sponsibilili8s for the audit of th8 financial statements Our objectives ar8 to obtain reasonab19 assurance about whether the finaneral statements as 8 whole a￿ free from rnalorial misstatement, whether due to fraud or error, and to issue an 8uditorfs report that includes an opinion. Reasonable assurance 15 8 high level of assuranc8, but is not a guarantee that an audit conducted in accordance with Int8m8tional Standards on Auditing IUKI will always detect a material misstatement wh8n it exists. Misstatements can arise from fraud or error and are conside￿d rn8terial if, individually or in the aggregate, they coulr5 reasonably be expected lo influenc8 th8 8conomi¢ decisions of usgrs tsken on the basis of these financial statements. Irr¢gularrftses, inclLJding fraud, a￿ in5tsncos irf non-compliance wth tsws and regulations. We design proCedU￿S in line with our sponsibilitias, outlined above, to detèct material misstat8rn8nts in respe¢l of irregularitias, induding fraud. The extenl to which our procedures ar8 capable of detecting irr9gularfties. including fraud 1$ detailad below. Th8 objectives of our audit in ￿SpeCt of fraud, are., to Identify and 88S8S8 the risks of rnaterial misstatement of the financial statements du8 to fraud.. lo obtain sufficient appropriate audit 8videnee regarding the assessed risks of material mi3st8t8m8nt due to fraud. through designing and implementing appropriate respons88 to those assessed ri8ks,' and lo respond appropriately to Instanc8s offraud or susp&cted fraud Identified during the audit. However, the prirnary re5wnslbility forth8 pr8vention and detection of fraud rests wth both rnanaoemenl and tho&8 charged wth governanc8 of the entity. Our approa¢h wa5 as folkiws.. We obtained an undarstanding tsl the legal and r8gulatory requirements applic8ble to the entity and consid8r8d that the most significant are the Accounting and Reporting Regulations for English Anglican Cathedra￿, UK finanaal reporting standards as issued by the Financial Reporting Counal, and UK taxation18gislation. We oblsined an understanding of how the entity compli8S With these requirem8nts by discussKJns with managern9nt and those charged with governance. Wg assessed the risk of material misstatement of th8 financial statements, induding the risk of materi81 misststement due to fraud and how it might occur. by holding discussions with management and those charyed with governan￿. Page 12

NORWICH CATHEDRAL AUDITOR'S REPORT TO THE CHAPTER OF NORWICH CATHEDRAL We inquir8d of management and tho88 ch8rged with governanc8 a5 to any known in3lanc85 of non- compliance or suspected non-compliance with law8 and regulations. Based on this understanding, we designed sp8cific appropriate audit procedures to identrfy Instances of non-complian￿ with laws and regulations. This Included making enquiries ol management and those charged with governan￿ and obtaining additional corroborative evidence as required. Because of the Inherent limitations of an audit, there is a risk th8t we will not detect all irregularities, including thosè leading to a rnaterial misstatement in the financial stalem8nts or non-compliance with r8gulalion. This risk increases thè MO￿ that complian with a law or regulation 1$ r8rnoved from the events and transactiOll5 re1￿Cted in the financial 51alemenls. as we will be less likely to become aware of InStan￿S of non-compliance. The risk is also greater regarding irregularities 0￿Ur￿n> due lo fraud rather than error, as fr8ud involves intention81 concealment, forgery. collusion, ornis5ion or misrepresentation. A further d88cription ol our respon￿bilItieS for the audit of the financial statements 18 locat8d on the Flnancial Reporting Counol, website at.. www.f￿.org.UkIauditor$re$P0n5lbllitl8s. This description form8 part of our auditorfs report. Conclusion relatlng to going conc•m In auditing the financial slaternenls. we h8vé conclu¢Jed that Chaple¢s us8 of the going ¢oTr￿rn basis of accounting in the preparation of thè financial ststemenls 15 approprlate. Based on the work we have performed, w8 have not identified any mat8ri81 un￿rtaintieS relating to events or conditions that, individually or ￿llectiVely, may cast significant doubt on the entity's ability lo continu8 as a going concern for a p8ri0d of at least twelv8 months from when tt)e financial statements are authorised for i8sue. Our responsibiliti85 an¢J Ihe responsibilibes of Chapterwith ￿SpeCt to 90ing COn￿M are describ8d in the relevant sections of Ihi8 report. Oth•r Information The Chapter rnemb9rs are responsible fr>r the othèr infomation. The other infOrmat￿n comprises the informaoon Included in the Annual Report ol the Chapter. Our opinion on the financial statements does not cover the other infonnation 8nd, except to th8 exl8nt otherwise eXpli￿tlY stated in our ￿pOrt, W8 do not express any form of assurance conclusion thereon. In connection with our audit of the financial statsments, our responsibility is to r88d the other information 8nd, in doing so, consider whelhgr the other information is rnaterially inconsistgnt with the financial statements or our knowledge obtsin8d in the 8udit or othepNise appear5 to be materially mi8Stat8d. If we identify such material inconsi5ten¢ies or appar8nt material misstatements. Wg are required to determin8 whether there is a material misstatement in the financial 5tat8ments or a material rnisstatement of the other infomation. If, based on the work w8 have perfomied. we conclude that there is a material misstatement of this 0th8r information, we are required lo r8POrt this fact. We have nothing to reFK)rt in this regard. Matters on which w• are required to report by exceptlon We have nothing to report in respect ol the following matters In relation to which wa report lo you if, in our opinion.. sufficient accounting records have not bèen kept., or the financial ststements 3r8 not In ag￿ernent with the accounting records and returns.. or W8 have not received all the inforrnslion and explanation8 W8 require for our audit. Page 13

NORWICH CATHEDRAL AUDITOR'S REPORT TO THE CHAPTER OF NORWICH CATHEDRAL Usa of our roport This r8POrt is made solgly to the Ch8ptermembers, as a body, in accordance with Section 27 of the CathèdraL8 Measure 2021. Our audit work h85 been undertaken for no purpose other than lo draw the attention of the Chapter members lo those rnatters which we are required to include in an auditors, report addr85S8d to them. To the fullest extent perrnitted by law, we do not ac¢ept or assume responsibility lo anyone other than the Chapter. and the Ch8Pt8r members as a body. for our audit work. for this report. or for the opinion3 We have lorrned. Christopher Dugdale BA FCA Isenior Statutory Auditorl For and on behalf of MA Partners Audit LLP Statutory Auditors 7 The Close, Norwich, NR14DJ Date.. 24 October 2024 Page 14

NORWICH CATHEDRAL CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 General Funds Designatod Restricted Endowment Funds Funds Fund5 Totsl 2024 Total 2023 Notes Income Donations, legacies and orants.. onats.ons 404,490 4.500 16,418 99,512 469,133 2.241,801 3,235.854 90,000 263,074 103.311 860,875 4,500 220,657 99,512 476,459 2,241,801 3,903.804 1,506,472 2,131 236,809 86,454 402,478 2,245,449 4,479,793 Lega¢ie$ - Grants Income trom charitable aclivile$ In¢oma trom other trading acli¥ilie5 Incomé from proparty and investments Total in¢ome 204.239 7,326 90.000 474.63g 103,311 Ralslng lund5 1,481,936 IA81,938 1.306.776 Net lThcomlng rthsources avallablo for mission 1.753,916 90,000 474639 103,311 2,421.866 3,173,017 ExpÈndltur8 on rnisslon Ministry Cathedral and preclncls upk8ep Education and outrea¢h Otherexpendilure 1790,6801 1610,9691 1168,8931 39,075 15,5181 1543,2731 11,9301 3,220 1266.7901 1173.3221 12.3771 777 11,062,986) 11.022,0441 11,327,564) 12,378,776) 1173,2001 1185,4791 43,072 38,845 Total expondlture on mlsslon 1,609.fj17 553,939 443,266 2,606,822 3,625,145 Total expen41iture on ralslng funds, mlsslon and govarnanco 3,091,555 553,939 443,286 4,088,760 4,931.920 Nèt Incomlng I loutgoin91 r¢soure6s 144,298 1463,9391 31,373 103,311 1184,9571 1452,1281 Gain5 on r¢valuatlons and dlsposals 01 property and invostments InvestrThenl prop8ty Non-investment prop&ty Investments 11 11 11 20,345 20.345 130,471 130A71 150,818 tSO,816 203.746 1203.7461 Transfors lund8 77,804 125,000 47.196 Nét lrtcreages I Idecr•a5es1 in funds 86,839 1338,9391 115,8231 233.782 134.1411 1655,8741 Funds brought forward 837,560 1 490,275 242.374 71,670,404 74 210.813 74,868,487 Fund$ ¢arrlad forward 924.399 1,151,336 196,551 7t.904.186 74.176.472 74,210,613 For analysis of 2023 Statement of Financral A¢liviY88 by fund s88 note 23. The note5 on ss 21 to 45 form art of these financial slatemenl$. Page 15

NORWICH CATHEDRAL CATHEDRAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 G8n8ral Fuftds Dè$lgnatod Restrictsd Endowm¢n¢ Funds Funds Fund5 Total 2024 Total 2023 Income Donations. 199ac￿S and grant5'. Donations . L￿a¢le8 - Grants Irthme from charitable acliwtre$ Income from othar trading aGlivrtie5 Income from propety and inveslm8nls Total Income 499,842 4.500 16,418 99,512 122,597 2.119,213 2,662,082 90,000 263.074 852.916 4.500 f78.657 99.512 129,923 2,119.213 3.384721 1.558.327 2.131 236.809 86,454 109,979 2,116,011 4,109,711 162,239 7,326 90.000 432,639 Rai$rng funds 11.206.300 1,206,300 11.051,456 Net Incomlng rosources avallabla for mlsslon 1,655,782 90.000 432,639 2.178.421 3,058,255 Expondlture on mlsslon Ministry Cathedral and precincts upkeep Education and oulr82¢h other expenditure 1638,1261 1636,947) 1168.6911 131,2671 130,5161 1682.8981 11.9301 3,220 1247.6821 1173,3221 12,3771 1777 1916,3241 1865,6901 11A93,1671 12.397.996) 1172,9981 1184,9751 35,2641 132,42D Total 8xpendltur• on mlssion 1,475.031 718,564 424,156 2,617,753 13,481.081 Total ¢xp¢ndltur¢ on ral$lng funds, mission and governance 2.681,331 718.S64 1424.f58 3.824.053 14.532.537 N•t incoming I lout90ing1 resourc88 180,751 1628,5641 8.481 1439,3321 1422.8261 Gains on r¢valuation$ and disposals of prop6trty and inv8Stmants Inv8Stment pr(Iperty Non-invostmsnt prop8ty Investments Translers b¢tw¢èn fund$ 77.804 125,000 47.198 Net incrèases I Id¢cr￿•s) in fund5 102,947 1503,5641 138.7151 1439,3321 1422,8261 Funds brought filtward 473,211 1,490,275 198.400 68,069,323 70,231,209 70,654,035 Funds carrled forward S76,158 986.711 159,685 68.069.323 69,791,877 70,231,209 Th8 notes on 8s 21 10 45 form part of these financial slat8m8nts. Page 16

NORWICH CATHEDRAL CONSOLIDATED BAL4NCE SHEET AS AT 31 MARCH 2024 Unre$lrictsd Funds Restrlct6d Funds Endowment Total Fund$ Funds 2024 Total Funds 2023 Notes Flxed 35SOt$ Investment assets Prop8rty Investfflents 11 11 49,754,873 49.754.873 3,707,059 4,025,127 53.46t.932 53,780,000 49,754,873 3,821.164 53.576.037 318,068 318.068 Non Investmont ass¢ts Property Equipment and plant 11 11 18.31445 18.314,450 100,899 18.415,349 18.314.450 116.700 18,431.150 68.069 68,069 32,830 32,830 f8.314450 Tt>tsl fixad assets 386.137 32,830 71,776,382 72,195.349 72,007,187 Curront assets Stock8 Debtors Cash al bank and in hand 12 13 50,516 166.009 1,828.939 2,045,464 SO,S16 166,009 2.120,464 2,336,989 58,759 246.323 2,517,230 2,822.312 163,721 163,721 127,804 127.804 Liabilities wbthin ona year c￿￿110r5 14 13SS.8661 1355,866 618,e861 Net eurrent assets 1,689.598 163,721 127,804 1,981,123 2,203.426 Total assots lo¥$ ¢urr•nt Ilabllltl8$ 2.075,735 196,551 71,904.186 74.176,472 74,210,613 Net zssèts 2,075,735 196,S51 71,904,186 74,176,472 74,210,613 Funds Gen8ral Fund Designated funds RestriGted funds MartiTr Kaye Library Re51ricted donations Flower Guild Choir EndOwn￿nI Fund Endowment funds Révaluation of properties Other endQwff￿nI funds 924.399 1,151,336 924399 1,151,336 837,560 1,490,275 32,830 126,855 2,802 34,064 32,830 126,855 2,802 34,064 32,830 165.570 2,802 11,172 56,238,022 56,238.022 15,666,164 15,666,164 56,238,022 15,432,382 2.07S,735 196,551 71,904,186 74,178,472 74,210.e13 The financial stateffents ware approved by the Chapter on 09 S8pt8 b 20248 d sign on their behalf LJJL The Very Reverend DrAndrew Braddock Dean ol Nonhich Canon Tirnothy octèr The notes on $s 21 to 45 form art of Ih8S8 financi818tatemenlS. Page 17

NORWICH CATHEDRAL CATHEDRAL BALANCE SHEET AS AT 31 MARCH 2024 Unrostri¢tod Fund5 Re$tri¢tod Funds Endowmont Funds Total Funds 2024 Total Funds 2023 Not85 Flx¢d assetg Inve5trnent a559ts Property Inv8Stm8nts 11 11 49.754.873 49.754,873 49,754,873 49,754,873 49.754,875 49,754,875 Non inv¢stment as$*ts Property Equipment and plant 11 11 18,314,450 18,314,450 94.019 18,408,469 18,314,450 107.301 18.421.751 61,189 61,189 32.830 32,830 18,314,450 Total fix￿ as$ot$ 61.191 32.830 68,069.323 68,163.344 68.176.626 Current assets Stock5 Debtors Cash at bank and in hand 12 13 231,432 1,598,9SS 1,830,387 231,432 1,725.810 1.957.242 302,551 2,329,964 2.632,51 S 126,855 126.855 Liabilitlès duè within one y¢ar C￿dItorS 14 1328,709 328,709 577,9321 Not current a$$ots 1,501,676 126,855 1.628,533 2,054,583 Total a$$ots loss Current Ilabilllle$ 1,562,869 159,685 66,069,323 69,791,877 70.231.209 Nat assats 1.562.869 159.685 08.009,323 69,791,877 70.231,209 Funds General Fund D88ignat8d funds Restricted fund5 Martin Kaye Library Restricted donations Endowrnent fund Revaluauon of properties Other endowrrent funds 576,158 986.711 576,158 986,711 473.211 1,490,275 32.830 126,855 32,830 126,855 32.830 165,570 56.238.022 11,831.301 56,238.022 11,831,301 56,238.022 11,831,301 1.562,869 159,685 88,069.323 69,791,877 70,231,209 The finan￿al 5tataments were approved by the Chapter on 09 September nd signed on their behalf by.. The Very Reve￿nd DrAndrew Braddock Dean ol Nopmch Lay Canon Ti thy Proct8r The notes on pages 21 10 45 form part ol these financial staternent5. Page 18

NORWICH CATHEDRAL CONSOLIOATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Nota Net cash loutllowl from operating activiti85 Ipage 211 11.731.060) 11,720,777> Investing actlvltles 21 1,391,086 1,499,592 Financing acllvltlas 21 156,7921 1337,2711 ID8creaso1 in cash in th8 perlod 22 396,766 558.456 The not88 on es 21 to 45 form art of these financial slalements. Page 19

NORWICH CATHEDRAL CONSOLIDATED CASH FLOW STATEMENT INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note RECONCILIATION OF Ngr OUTGOING RESOURCES TO NET CASH OUTFLOW FROM OPERATING ACTIVITIES Net Inwmlng resourc8S Less investment ￿ncom8 Less income from property inv8Stmenis Add property management Costs Add depreciation and loss on disp0581 of fixed assets D8crease I (lnc￿ase} in debtors 08crgase I Ilncreasel in stocks Increase I (Decreasel in creditors 1184.9571 1210,8281 12,030.9731 850,71S 19.446 80.314 8,243 1263.0201 1452,1281 1168,8601 12,076,589) 745,857 28,976 12,190 19,5531 199,330 Not ¢ash loutflowl from owratlng actlvltles 1,731,060 11.720,7771 RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS 22 Decrease in ￿8h in the period 1396.7661 1558,4561 N8t funds at 1 April 2023 2,$17,230 3,075.686 Net funds at 31 March 2024 2.120.464 2.517.230 Th8 not8s on ages 21 to 45 form art of these finan¢ial statements. Page 20

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE Y&4R ENDED 31 MARCH 2024 1 PRINCIPAL ACCOUNTING POLICIES The financial slalemenls have been prepared in 8ccord8nce with the Accounting and Reporting Regulations for English Anglican Cathgdrals, dated December 2018, and the Financial Reporting Standard applicable in the UK IFRS 1021. The Cathedral meets the definition of a public benefit entity under FRS 102. These financial statements are presented in Sterling, which is the functional currency of the Cathedral, and rounded lo the nearest pound. The financial slalemenls are consolidated to include the financial statements of the Cathedral's subsidiary undertakings las detailed in note 151. al GOING CONCERN The Chapter has considered whether the use of the going concem basis of accounting is appropriate. To do this, they have considered whether there are any material uncertainty'es as to the Cathedral's ability to continue as a going concem. They have carried out this assessment for a period of at least one year from the dale of approval of these financial slatemenls. They have concluded that there are no material uncertainties about the Cathedral's ability to continue as a going concern. bl FUND ACCOUNTING General funds are unrestricted funds which are available for use al the discretion of the Chapter in furtherance of the general objectives of the Cathedral and which have not been designated for any other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Chapter for particular purposes. The aim and use of each designated fund is set OLrt in the notes lo the financial slalemenls. Reslricled funds are funds that are to be used in accordance with specific reslriclion5 imposed by donors, or which have b&en raised by the Cathedral for pa￿Cular purposes. The cost of raising and administering such funds 8re charged against the specific fund. The aim an¢J use of each restri¢led fund is sel out in the notes to the financial slalemenls. Endowment funds are held by the Catheclral and are invested in the propety Portfolio. The Chapter, al their discretion, may alk)cate the rental income from such invèstment lo the general purposes of the Cathedral. Further endowment funds are held within Norwich Cathedrdl Choir Endowment Fund, a subsidiary. These funds are invested in perpetuity in listed inveslmenls. The Chapter, at their discretion, may allocate any part of the unapplied total return to the gener81 purposes of the enlily, namely for the provision, promotion and encouragement of music in the Cathedral Church of Norwich by the award in each year of a scholarship OF scholarships to one or more of the Choristers. Investment income, gains and losses are allocated lo the approprk2le fund. Where amounts are payable on behalf of the Cathedral by third parties, for example the Church Commissioners, Ih8S8 ar8 disclos8d und8r both income and expenditure in the consolidated financial ststements. P898 21

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 cl INCOME All income including legacies are included in the Statement of Financial A¢livilies when the Cathedral is legally entitled lo the income and the amount can be quantified with reasonable accuracy. Income tax recoverable in re￿tIOn lo investment income is recognised al the time the investment income 18 receivable. dl RESOURCES EXPENDED All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation lo activities. Where costs cannot be directly attributed lo particular activities they have been allocated on a basis consistent with the use of the resources. el TANGIBLE FIXED ASs￿s AND DEPRECIATION Equipment, fixtures and machingry are stated at cost less accumulated depreciation thereon. PTopety and assets under construction are stated al cost or valuation. Depreciation on tsngible fixed assets is calculated lo write-off the cost less estimated residual value over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose, which are consistent with those of Ihe previous yeai. are.. Land and buildings Martin Kaye Library Office equipment Fixtures and fittings Machinery not depreciated not depreciated 15 /0 and 25 /0 reducing balance,. 25 /0 Straight line 10Q/o slraighl line 150A reducing balance Office equipment and fixtures and fittings costing £500 or more are included in fixed assets in the year of purchase and subject lo depreciation as sel out above. Items costing less than £500 are written off in the year of purchasa. Inveslm8nl properties are included in the balan￿ sheet al their open market value (see note 8a) and are not depreciated. Properties used for Cathedral purposes are valued al existing use value. The Chapter consider that these properties are maintained in such a stale of repair that the corresponding depreciation would not be material and therefore is not charged. Within properties used for Cathedral purposes are the Refectory and the Hoslry which are considered to be specialised properties and for which Ifiere is no open market value. These properties are staled al depreciated replacement cost. No depreciation is charged on the 8ssels in relation to tha M8rtin Kay8 Library, the majority of these assets consist of books which are considered lo be appreciating assets and therefore il is not appropriate lo depreciate these. The Cathedral, its ancillary buildings and the inventory are excluded from the balance sheet as cost infoimalion is not availabla and conventional valuation approaches would lack sufficient reliability. Page 22

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 fl INVESTMENTS Investments are a form of basic financial instrument and are initially ￿CognIsed 81 their transaction value and subsequently measured at their fair value al the balance sheet dale using the closing quoted market price. The Statement of Financial Activrfcies includes the nel gains and losses arising on revaluation and disposals throughout the year. Realised gains and losses on investments ar8 calculated 89 the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent lo the fir81 day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities. The Cathedral does not acquire pul options. derivative5 or other cornplex financi81 instruments. The main form of financial risk faced by the Cathedral is that of volatility in equity markets and investment markets due to wider economic conditions, the attitudes of investors lo investment risk, and changes in sentiment concerning equities and within particular sectors or subsectors. gl DEBTORS Trade and other debtors are recognised al the settlement Smounl due after any trade discount offered. Prepayments are valued at the arnounl prepaid net of any trade discounts due. h) CASH AT BANK AND IN HAND Cash al bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. i) CREDITORS AND PROVISIONS Creditors and provisions are recognised where the Cathedral has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the oblig21ion can be measured or eslimaled reliably. Creditors and provisions are normally recognised al their settlement amount after allowing for any trade discounts due. j) PENSION SCHEME The Chapter of Norwich Cathedral operates a defined contribution pension scheme. Contributions are charged lo Statement of Financial Aclivib'es in the period in respect of which they are payable. The Cathedral also contribul8s lo the Church of England Funded Pension Scheme (see note 201. kl STOCK Stocks are valued al the lower of cost and net realisable value. Cost is d818rmined on a first in first out basis. Net re8lis8ble value represents eslimaled selling price lass costs lo sell. Provision is made for obsolete, slow- moving or damaged stock wher6 the net realisable value is less than cost. Page 23

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 2 CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In preparing the lin8nci81 ststements. Chapter rnakes a number ol judgements, estimates and assumptions about the recognition and measurement of assets, liabilities. income and expenditure. Chapter does so on a continuous ev21uation basis using historical experien￿ and prudent evaluation of future events that are believed to be reasonable under the circumstances. In apptying the Cathedral's accounting policies, th8 following are the judgements, estimates and assumptions that have the most significant effe¢l on the recognition and measurement of assets. liabilities, income and expenditUTe in the financial statements. Legacy Income Chapter uses the income recognition criteria sel out above to determine when il is appropriate to recognise legacy income in the financial slalemenls. This can involve applying judgement over the probability of the income being received and ils ability lo be measured with sufficient reliability and. once recognised. estimation of the monetary value of the income. Allocation of support Costs Chapter uses an allocation model that requires both judgement and estimation over how support costs are split across various expenditure categories. The rnodel is primarily based on estirnales of lime spent by individual members of clergy and staff across each expenditure category. Depreciation of ass8ts Chapter sets ils depreciation rates for depreciable assets based on their useful lives. This requir8s estimation of the expected utility of the assets. Stock Chapter estimates the net realisable value of stock items taking into account the most reliable evidence avai18ble at each reporting date. The future realisation of these stock items may be affected by market.dTiven chan9es that may reduce future selling prices. Valuation of property Chapter uses valuation techniques involving judgement and estimation to determine the fair value of the C8thedral's investment and non-inveslmenl properties al each reporting dale. Estimates of fair values between independent revaluations are based on a combination of current market conditions. changes in tenure arrangements and guidance from external sources. Chapter bases its assumptions on observable data as far as possible bul this may not ahNays be available. In these ¢ases Chapter uses the best information available. Estimated fair values may vary frorll the actual prices that would be achleved in a fully arm's length commercial sale transaction al the reporting dale. Rgporting uncertalnty In th8 next reporting period With respect lo the Cathedral's next reporting period, the year ending 31 March 2025, the most significant areas of un¢ertainty that may affe¢l the carying value of assets and liabilities held by the Cathedral are markel-driven changes lo resident1818nd Commercial propety valuations and the performance of uncertain investment markets. Pagè 24

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 3 INCOME General Deslgnated Re8tr1cted EThdowment Totsi Fund5 Fund$ Fund8 Funds 2024 Tol81 2023 Dpnations.16gaclos and grants Congregational collections and giving Visitors boxe5 Donations Income from appeals and fund ralsing Tax recov8rabl8 under Gift Aid In¢om8 from th8 Friends Total donatlons 88.396 $2,894 228,581 88.396 90,143 S2,894 59.499 443.631 220.498 95.898 761.752 38,668 35.392 143,387 339,188 8fj0 875 1,506,472 90,000 23,739 95,898 50 143,3B7 263.074 103,311 36,619 90,000 103,311 L8g8cies Totsl 18gacle8 4,500 4.500 4,500 4.500 2.131 2,131 Church Commi55ionars' grants oth&r revanue and capital grants GovemmÉnt gran15 Total grants 12,766 3.6S2 129,882 74,357 142,648 159.387 78,009 77,422 18.418 204,239 220.657 236,809 Total donattons. 18gaci8s and grants 425,408 90.000 467,313 103.311 1.086.032 1,745,412 InGomo from charltable a¢tÈvitie$ Facility and otherf8es 99.512 99.512 86,454 Total Income from Gharitsblo aclivlti¢s 99,512 99,512 88,454 Income from other trading actlviti8S Charges lo visitors Letti￿5 of Cathedral and olh8r buildings Fundraising events Gros5 inGomÈ of shop, refectory and other trading activitie5 - Shop Refectory Other trading activ￿"8S 33,939 20,805 36,074 33.939 20.805 36,074 35,518 18.487 27.564 268,688 93,164 16,465 268.686 93.164 23,791 236,559 69,888 14.462 7,328 Total income from other trading actlvltles 469,133 7,326 476,459 402.478 Income from pro￿rtY and Investments Inv8slmant propety income (note 8a) Investments Interest receivable 2,030,973 t24.142 86,686 2.030,973 2,076,589 124,142 131.338 86,686 37.522 Total incomt from proparty and Investments 2,241,801 2,241,801 2.245.449 Total in¢ome 3.235,854 90,000 474,639 103,311 3.903.804 4,479,793 Page 25

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 4 RAISING FUNDS G¢neral Deslgnated Restricted Endowrnent T¢)tal Funds Funds Funds Funds 2024 Total 2023 Normch Cath&dr81 Enterprises Limited - Shop - Ref&ctory Réfectory costs Inv8Stmenl property costs (nola 8a) Hoslry Marketlng Support Costs 177,506 107,739 28,111 850,715 75.031 101,694 141,142 1,481.938 177,506 163.761 107.739 97,881 28.111 21.689 850.715 745,857 75.031 65.018 101,694 84.993 141,142 127.577 1,481,938 1,306,776 Pagg 26

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 S EXPENDITURE ON MISSION General Deslgnat8d R8strlcted Endowm•nt Total Funds Funds Fund8 Funds 2024 Total 2023 Mlnl8try Clergy slip8nds and working 8XP8ns85 Clergy housing Costs Cleryy8UPPOrt costs Servi¢e$. music and wngregalion81 costs Support CQ5ts 90,230 38.161 35,572 516,940 109,777 790,680 129,882 220,112 191.758 38,161 39,050 35.572 71.131 659,364 607.538 109,777 112,567 t,062,986 1.022.044 S.S16 136.908 5,516 266,790 Cathedral and preclncts upkeep Major repairs and resloralion Maintenance and inl8rfor upke8p Cathedral insuran Procinc15. security and gardens upkeep Support Costs 59.781 385.252 80.192 1S,173 70.571 610,969 $43,023 138,387 34,935 741,191 1.834.374 420,187 398,043 80.192 67,230 15.423 13.589 70,571 67,540 1,327,564 2,378,776 250 543.273 173.322 Edu¢ation and OLrtroach Educational activities Archives and library Chari18b18 and olhergiving Support costs 70.534 44,912 6,400 47.047 168.893 1.930 2.377 74,841 44,912 6,400 47,047 173,200 85,794 48,258 8.400 45.027 185,479 1,930 2.377 Other 8xpendilur¢ Other ilern5 Governance costs (not8 71 20.525 18,550 39,075 3,220 777 24,522 18,550 43,072 21.721 17,124 38.845 3,220 777 Total •xp0nditur¢ on mss$lon 1.609,617 553.939 443,266 2.606.822 3,625,145 Page 27

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 6 SUPPORT COSTS Support wsts have been apportioned using headcount per d8parbn8nt 8$ the basis. as deiailed in the tsble bekny. 2024 2023 Support cost¥ Dire Sypp•rt costs DI￿¢1 C05t3 0Sts Total Total Raising funds Ministry Cathedral and prtsttincts upka9P Education and outreach Other axpanditure on mission 1,340,796 953,209 1,2S6,993 126.153 43.072 141,142 1,4B1.938 109.777 1,062.986 70,571 1,327.564 47.047 173.200 43,072 1,179,199 909,477 2,311,238 140,452 38.845 127,577 1,306,77e 112,587 1,022.044 67,$40 2,378.776 45,027 185,479 38,845 Total expenditure on raising funds, mission and govem8nc8 3,720,223 368,537 4,088,760 4,579.209 352,711 4,931,920 7 GOVERNANCE COSTS Genèral D￿i9natsd R85trfcted Endowment Totsl Funds Funds Funds Fund8 2024 Tol81 2023 Audit and a¢counlan¢y (note 191 18,550 18,550 17,124 Page 28

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 8 NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES al Inv¢stment PfOPOrty in¢omoloxpendituro and 9ainsllo$s¢s 2024 2023 Rents receivab18 Insurance costs R&pairs and Tnaintenan¢e Archite¢l'$ fees Managing A9enls' fees Estates D8partrn8nt Rate5 Bad debts Legal and prof885ional 2,030,973 2,076,589 59.486 293.963 13,600 80.497 365.638 8.982 1,081 27A68 56.484 237,889 14,225 77,584 319,059 8.982 6,179 25,455 850,715 1,18Q,258 1745,8571 1,330,732 Net income Revaluation of Investrnent prop8ty Is8e not8 111 Total retum from investment property 1,180,258 1.330.732 The Cathedral owns a nurnber of residential and commercial prop8rt18s, which are let. The incoma from Ih88e has b8gn d81a1￿ above. In addilion the Cathedr81 owns residential properties eurreniiy occupied by clerical and lay empSoy88s of the Cath8dral. Page 29

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 9 FUNDS Unr85tri¢ted Funds:. Designat•d Funds These funds includ8 all provisions made by th8 Admini51ralive Chapter for expenses lo be incurred in future years. Balance at 1 April 2023 Income Balance at 31 Mar¢h 2024 Expéndltur Trznsf•rs Ferry Lane Garages Chapter staff hou58S Shop Alterations G005eberry Walk Lighting Refectory Equipment Fund Close property ￿furb18hMonts Mission Pilgrimage Project Refectory and Hostry Repairs Signag8 and Interpretation Website Development Library Storage Developtnent Fund Cathedral Tabl88 Organ r8Stor8tion Girl Choristers Special S8rvices Fund Eco Projecls Cathedffjl Spire Dilapidations 40,908 5.066 18,181 15,000 10,000 593,856 23,310 1,977 40.000 34.132 14.000 7,000 30.000 13.000 336,548 117.592 3,579 12.645 40,908 5.066 15,543 15,000 10,or*o 441,736 22.S35 1,977 38,SS3 30,785 14,000 7,000 $6,675 9.780 {6381 1143,1201 (7751 19,0001 90,000 1121,4471 13,3471 30,000 13,3281 13.2201 1336,5481 125,0001 30,000 92.592 3.579 32,395 3,568 145,019 12501 20.000 171,913 180,8941 $4.000 1,490,275 90,000 18,564 125,000 986,711 Ferry Lano Garages Developmont costs for Ferry Lane Garages ￿Sidential conversion. Chapter staff houses Funds have been designat8d for work5 to Ghapter houses in The Close. Shop AMeratSons To fund relocation of the Cathedral Shop. Donations Dg$k and inleq)reialion Tnstallations. Goosobarry Walk Lightlng To fund updating of Gotrseberry Garden lighting. Refectory Equipment Fund To fund new assets for th8 R8fectory. ¢loso property refurblshmants Funds have been designatèd for the redecor8lion and renovation of properties within The Ck)se. In 2rilicipation of a nurnb8r ol changes in tenan¢y in the near future. Page 30

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 9 FUNDS ICONTINUEOI Mi55itsn Funds to support major Mission proi8CtS. Pi19rima9È Project A proj8Ct to d8v8lop a Pilgrimage rout8 a(xoss th8 Dioco$8 of Norwich. Refe¢tory and Hostry Repalrs To fund more major repairs to the Hoslry and Refactory buildings. Slgnag6 and Interpretstlon To install new interprtiaiion boards in the Cathedral for use by our vi51tors. W8bslt8 Davalopmant To fund continuing updates to the Calheclral website. Llbrary Storage To provido bespoke Picture storage in th8 Library. D8valopmant Fund Fund5 to 5UPPOrt strategi¢ projects. Cathedral Tables To pur¢hase new tables for at servi¢es and events in the Catt)edral. Organ r•storatlon To r8bU1￿ and r8Store the Cathedrsl Organ. Girl Choristers To support awarils to Girl Choristers. Special $8rvices Fund To fund rnajor natDnal services. Eco Projects To 8UPPOrt Chapterf5 re5POn5e to the Church of England's Carbon Neutral Policy. Cathedral Splre To fund phase two repair5 to the Spire. Dilapidations Funds held to support property refurbishments. Page 31

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 9 FUNDS ICONTINUEDI Restricted Funds Balance at 1 Aprll 2023 In¢om• Balance at 31 March 2024 Expendltur¥ Transfers Restrlcted donation5 - Cathedral ￿paIrS Organ restoration - Preachers. Charity Nonwich Cathedral Gir15 Choir - Norwich Cathedral Concerts Spottif￿ gifts - Stipends - Choral scholar property Girf Chorisle Pilgrimage Project Total ro$tri¢tsd donations 143,387 34,93fj 10,496 7,970 82.959 21,459 129.882 1138.3871 134.9361 Is.0001 110.4961 12.134 8.172 67,880 12.5451 184,6691 110,9101 1129.8821 17,559 6.462 78,429 33,757 40,179 3.449 165,570 131,7001 2.OS7 19,379 2.970 126.855 1,550 122,3501 479 1424,1581 432,639 147,1961 Martin Kaye Library NoFwi¢h Cathedral Fbwer Guild Norwich C8th8drdl Choir Endobvrnent Fund 31830 2,802 11,172 212,374 32.830 2,802 34,064 196,551 42,000 474.639 119,1081 1443,2661 147.1981 Martln Kaye Library This represents the totsl value of donath)n of the books, shefving and equipmgnt ￿¢￿1Ved from the Anne Fre￿h Memorial Centr8 Trust during th8 year ended 31 March 2002. Cathedral rèpairs This fund represents major ￿pair and ￿Storation work caffled out on the fabric of Norwich Cathedral, support8d by the Friends of Notrwich Cathedral. Organ restoration This fund includes amounts received for the re51or81ion of th8 Cathedral oryan. Prea¢hers' Charlty The G￿at Hospital Preacherfs Charity donates rnoftey on an annual basis to prorry)te educationalty based actwiti8s at th8 Cathedral. A transfer was made to partialty offset the costs of the Schoo15 Officer. Norwich Cathedral Glils Cholr Thi5 fund is used to support the actlvitSes of the Cathedral's Girl Choristets. Norwi¢h ¢ath¢dral ¢onc¢rts This fund in¢lud98 amounts received towar¢s the operating costs of Cathedral related concert5. Spe¢ifi¢ 9ifts This repres&nl$ donations for spe¢iflc purposes. Page 32

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 9 FUNDS ICONTINUEDI Stipends Thi5 fund ￿preSentS th8 contributions from th8 Church Commiss￿ntr￿ for membgrs of th? Chapter of the Cath8dr81. Choral S¢hotar Property This fund rep￿sentS a18gacy rec8ived lo be used for the provision of accommodation to th8 Choral SchoLryrs. Girl Chori5tèr$ P8rt of'They Shall Laugh and Sing, the Non￿lch Cathedral Music Appeal, e51abllshing a revenue fund to provide music 18sson5 for our Girl Choristers. Pilgrimagè Prolect A project to davelop a PIlgri￿age route gcross the Di0￿Se of Nor¥*i¢h. Page 33

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 9 FUNDS ICONTINUEDI Endowm¢nt Funds Balan¢* at 1 April 2023 Income Transfers & Balance at Expendlture Revaluation5 31 March 2024 Endowment funds of NopNich cat￿dra1 Revalu21ion of properties Hostry and Refectory Project 681,026 56,238,022 11,150,275 68,069,323 681,026 56.238,022 11.150,275 88.069.323 Endowment funds of Norwch Cathedral Choir Endowment Fund 3,601,081 71,670,404 103,311 103,311 130,471 130,471 3.834.863 7t.904.186 £681,026 of this Fund represents part of the endtswmeni of NO￿lCh Cathedral. largety arising from past property sales. It may onty be used for improvement or devebpmenl of Chapter property, with the consent ol the Chur¢h Commissioners. £58.238.022 r8pres8nts th8 balanc8 cr8at8d by revaluation of prop8ty to val￿5 S8t out in note 11. Page 34

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 10 EMPLOYEE COSTS 2024 Lay staff 2023 Lay staff Cleryy Total Clergy Total Wages and salaries 97,818 924.012 1.021,830 74,507 919,856 994.363 Social security costs 9,564 80,087 89,651 7,100 82,454 89,554 Pen8ion wst5 22,501 34,256 56,757 23,739 50.575 74,314 129,883 1,038,355 1,168,238 105,346 1,052,885 1.158.231 Numbor of èmployees Headeount 2024 2023 Full tlm8 equivalent 2024 2023 Chapter Administration Vorgars and interior upk88P Music 13 13 Education Estates Department 11 10 10 Shop and restaurant ostry Commercial and rnarketing 55 55 43 42 Durlng the year one ernploy8e received remuneration, excluding employerfs pension contributions, ovèr £60,000. Key managgment personnel are Considered to be the De8n and other residentiary m8fflbers of the Chapter, and their aggregate rgmunèration including social security and p8ll5ion costs was £168,364 12023 £145.3941. Further detail is provided in notè 17. Page 35

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 11 FIXED ASSETS CONSOLIDATED Propèrties used lor Cathedral purposes Equipmènt fixture$ and machlnery Investment Properties Martin Kaye Library Totsi COST I VALUATION Cost at 1 April 2023 Valuatr'on at 1 April 2023 11.297,222 7,017,228 353,885 11,651.107 56,804,931 49,754.873 32.830 Transfer be￿e￿n Classes Additions at cost Revaluation Disposals at cost 3,645 3,645 12.4221 12,4221 At 31 Mar¢h 2024 49,754.873 18,314,450 32,830 355,108 68,457.261 DEPRECIATION At 1 April 2023 270.015 270,015 Charge for the y8ar Dk8posals 19,0S6 12,0311 19,056 12,0311 At 31 March 2024 287,040 287,040 NET BOOK VALUE Al 31 March 2024 49,754.873 18,314,450 32.830 68,068 68.170,221 - eosl In&t of d6preciationl valuation 11.297.222 7.017.228 68.068 11.365,290 56,804,931 49.754,873 32,830 At 31 March 2023 49.754,873 18,314,450 32,830 83,870 68,186.023 Page 36

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 11 FIXED ASSETS I¢ONTINUEDI CATHEDRAL ONLY Properties used for for Cathedral purposes Equlpment fixtures and maehinèry Inveslment Propertl88 Mortln Kaya Library Total COST IVALUATION Cost at 1 April 2023 Valuation al 1 April 2023 11,297,222 7,017,228 295,553 11.592,775 56,804,931 49,754,873 32.830 Transfer between classes Additions at C05t Revaluath"on Disposals at COSt 3,644 3,644 12.4221 12.4221 Al 31 March 2024 49.754,873 18,314,450 32.830 296,775 68,398.928 DEPRECIATION At 1 April 2023 221,082 221,082 Charge for th8 yaar Disposa15 16,536 12,0311 16,538 12.0311 At 31 March 2024 235,587 235,587 NET BOOK VALUE At 21 March 2024 49,754,873 18,314,450 32,830 61,188 68.163.341 cost (net of d8preciationl valuab.on 11.297.222 7,017.228 81,188 11.358,410 56.804.931 49,754,873 32,830 At 31 March 2023 49,754,873 18.314,450 32,830 74,471 68,176,624 The Chspter undertook a project lo value its properties on a professional basis and this valuation was undertsken by SavilLs, Chartered Surveyor5, who reported as al 31 March 2021. Thls has been based on the Guidelines on A¢counting and Reporting by English Anglican Cathedra15. Following further information provided by Savllls. the Chapter recognised an upward ￿valuation in the year gnd9d 31 March 2022 to r8flect m8rkel rnovement5 and changes in tenure arrangements. Savi115 reported that as at 31 March 2Q24. no further movement was required. Furth8r information on th8 U58 of the propèrty is shown in note ea, and of the method ol valuation and depreciation policy in note le. Norwich Cathedral is a Romanesqu8 building, now ov8r 900 years old. For a full d6scription ol it, please refer to the Cathedral guidebook. The contents of the Cathedral are varDus. comprising rn8di8val paintings, cOmmun￿n plate, books, both historic and modem, and other miscellaneous p￿ClOU$ items. Nona of th8 above figures indude a value for the Cathedral its611. Page 37

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 11 FIXED ASSETS ICONTINUEDI INVESTMENTS Llst6d Invastmant$ VALUATION Valuation at 1 April 2023 3,821.164 Additions Disposals Revaluations 700,303 1640,8631 144,523 Valuation at 31 March 2024 4,025,127 The above investments are held by Norwich Cathedr81 Choir Endowment Fund 1588 note 151. These are all listed investmènl5. Page 38

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 12 STOCK Group Cathedral 2023 2024 2023 2024 Shop 50,516 50,516 58.759 58.759 13 DEBTORS Group Cathedral 2023 2024 2023 2024 Trade debtor5 Du8 from Norwich Cathedral Enterprises Lirnited Prepaymènts and accru8d incoma (Xher d8blors 82,676 38.916 64,863 98,10S 19.595 48.869 231,432 38,436 65,039 30.048 1£9.028 302,551 19.595 63.738 166,009 30.048 177.359 246.323 14 CREDITORS Amounts falllng dtse wlthln ono yeai Group Cathèdral 2023 2024 2023 2024 Trade creditor5 Other taxes and Social Security Accruals and deferred incom8 Other cr8dilors 159A12 27,759 135.197 33.498 355,866 336.171 15,194 227,083 40,458 618,886 152,218 27,194 117,844 31.453 328,709 317.790 14.654 206,725 38,763 577,932 Page 39

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 15 SUBSIDIARY UNDERTAKINGS Nornilch Cathedral Entsrpr188s Llmltsd Thi5 Gompany, which is owned by the Chapter of Nopwich Gathedr31. operates the Shop the Refe¢iory. The day lo dly managern8nl is carried out by the Board of Director3. The D88n. th8 Ravd Canon Andr￿ Bryant and Lay C8non Mary Rudd are memb&r5 of the Board. The re5u115 for the Company have been consolidated with those of NoNNch C3thedral. a5 reQui￿d by the Cathedrals M&asure 2021. Transactions betseen NoAw¢h Cathedral Enlerpri$e$ Limited and NarM¢h Cathedral sre disclosed in note 17. Non¥lch Cathedral Choir Endowment Fund This trust fund. which is also 2 rÈgi$lÈred charity. was estsblished by the Chapter of Norwich Cathedral in 1986. It has 115 assets and incomo, from thich il conlribut8S towards the 8ducalion costs of th8 Cathedral choristars. The results for this tNsl fund have been con501idaled wth those of Nowch Cathedral as required by the Cathedrals Measure 2021. Transactions b6bth8n Norwch Cathedral Choir Endowmant Fund and Normch Cath￿ra1 ara d5sclos8d In nol8 17. 16 RELATED ENTITIES Frlènd8 oINorwlch Cathedral lthe Frl8nd81 This 15 a sep3raiÈ association, and a regisierÉd GhHrity, whirh is not under the ronlrol of the Chapter. During the year. £143,38712023- £339.1881 was r8ceive& from the Friends. this amount has been included within donations in note 3. No￿l¢h Cathedral Trust Thi5 a separate 18g21 entlty. not controlled by the Dean and Chapter. One of its alms. henre the related entity classification, is lo support charitable purposes connected with th8 C8thedral and th8 Dean and Chapter. Page 40

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 17 RELATED PARTY TRANSACTIONS During the year the total emoluments. including pension contribution5. paid lo the r88id&ntiary rnembers of The Chspl8r by the Church Commission&rs or Chapter were as follows.. 2024 2023 Th6 Very Revd Or Andrew Braddock The Very Revd Dr Jane Hedg88 Th8 Revd Canon Andrew Bryant The Revd Canon Dr Peter Doll The Revd Canon ￿dan Platten 49.005 22,448 41,685 40.047 41.214 40.690 38.462 40,167 The rernuneration of. gnd pension provision for. cleric81 members of the Chapter 8r8 paid in accord8nce with lh8 scales L8id down annually by the Church Commissioners, the Ar¢hbi$hops' Gounol and Ihe Chur¢h of England Pensions Board. During the year the Chapter reimbursed expenditure incurred by its rnemb8rs in relation to travel and hospitality costs of £5.07312023- t4,8741. During the year the followng transactions look plac8 With Norwich Cathedral En18rpri8es Limited.. 2024 2023 Donation of profits from Nomch Cath&dral Entarprises Limited Interest charged 10 NorM¢h Catt)edffjl Enterprises Limited on loan balance Good3 purchased froln Nowich Cathedral Enlerprisos Limilod Services provided 10 Norwi¢h Cathedral Enterprises Limited 95.352 334 681 17,915 54.505 434 653 17,915 Durin9 the year a dDnation of £164.62e12023.. £Nill was made to No￿lCh Cathedral Choir Endowment Fund from Norwch Cathedral. t8 COMMITMENTS Al 31 March 2024, the entity had a commitment to r8buik1 th& Cathedral Organ as follows: 2024 2023 Contracted for but not provided in these financial 51at8m8nts 7,808 19 AUDITOR'S REMUNERATION 2024 2023 Audit senricas- all anlilies Others¥rvl¢es- all enlilies 18.100 450 18.8S0 14.900 2.224 17,124 Page 41

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 20 PENSION SCHEMES A Group Parsonal Pension Plan operated by S¢ottish Widows is availabl8 to all ￿Y Staff employe88. Th8 D83n and Chaptar curr8ntly contributes 6% of gross annual salary to the scheme. No￿l¢h Cathedral also participat88 in the Church of England Funded Pensions Schame for stipendiary cleroy. a defined benefit pension scheme. This scheme 15 administe￿d by the Church of Englané Pensions Board, which holds the assets of tha schames separately from tt)w of the Responsible Bodie5. Each partiopating ResrKinsible Body in the 5ch&me pays ¢onlributions al a common contribution ralg applied to pensionable $tip&nds. The s¢hém& is considered lo be a rnulliemployer scheme as desuibed in Section 28 of FRS 102. This means it is not possible to atknbule the schème's assets and liabilities lo each specific Responsible Body, and thi5 moaTF5 wnlribulon5 are accounted for as if the scheme were a defined contribution schema. The p8nsions costs thargÈd lo th8 S18t8ment of Financial Activities in the year 8ré contributions paysble lovrard5 benefits and £xpensas accrued in that y8ar12024". £7.068, 2023.. £7.7631, plus the figures highlighted in the tsble b&low as b8ing r8cognis8d in the Slaiemenl ol Finanaal Activiti88, giving a total charge of £7.068 for202412023." £5,7631. A valuation of th& schema 15 carrKd aut once every thr88 years. The most recent scheme valuatK)n ¢ompl8led was carrKd out al 31 D8c8mber 2021. The 2021 valuation r8v8al8d a surplus of £560m. based on 88S815 of £2,720m and a funding target of £2.160m, ass8ss8d using the follo￿ryn9 a5SUtllPlions". An average discount rste of 2.7% p.a.. RPI inl81ion of 3.6% p.a. land pension increases consistent￿1th this1,. CPIH inflation in line Mth RPI less 0.8% pre 2030 moving to RPI no adjusimentfrom 2030 onw8rds', InG￿a$S in pensionable stipends of 3.4% p.a., Mortality in accordance with 90% of the S3NA1ab￿8, with 811owance for improvements in mortallty ratas from 2013 in line th the CM12020 exl£nded model with a long terrn annual rate of improvÈmÈnt of 1.5¥0, a smoothing paramel&r of 7. and an initial addition to mortality improvemen15 of 0.5% pa and 8n allowance for 2020 dats of 0% li.& vI2020= 0%). Follovring finalisation of the 31 December 2021 valuation, d8fiot ￿ntributiOnS ceased with off¢ct from 1 January 2023, Since the Scherne was fullyfunded. The deficit rats)vgry contibutions und8r th8 recovery plan in for(* 8a¢h 31 D8C8mb8r were as followE'. January 2021 January 2023 to December to December 2022 % of penslonable stiptnds 2023 Defi¢il repair contributions 7.10V For sènior office holders, pension8ble slipend5 are adjusted In tha ealcuLqtions by a rnultiple, as set out In the ￿heme,8 rules. Page 42

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 20 PENSION SCHEIAES ICONTINUEDI Section 28.11A of FRS 102 requires agreed deficit r8eovery payments to be r￿QgnIsed as a liability. However, as ther8 aro no agreed deficit r8cov8ry paymants trom 1 J2naury 2023 onwards. the balance sh881 liability as at 31 December 2022 is £nil. The movement In thè balance 5h8et liability over 2022 2nd ovèr 2023 is Set out in the table ￿lOw. 2023 2022 ealance Sheet liability at 1 January 4,000 D8ficit contribution paid Int8r8st C081 Iratogni$ed in SOFA) R&mainlng change to the b8lance sheal liabillW Irecognised in SOFA) 12,0001 12,0001 alanc8 she8t118bility at 31 Decotnber . Cornpri5gs change in agreed deficit recovery plan, and change in di5COUnt rats and assumptions beN¥88n y82r-8nds. This ligbility rtpresenls the present value of the deficll contributions a9reed as al th8 accotsnling date and has been valued using the follomng a￿UmptiOns. No assumption5 are ne8d8d for December 2023 a5 there a￿ no 8greed daficit r8covery psyment5 going fo￿ard. No price Inflation assumption was need8d Oecember 2022 Sin￿ pensionable stipends for th8 r8mainder of the ￿￿Very plan are already known. D¢¢ember 2023 De¢emb8r 2022 D8c8mb6r 2021 Discount rale Pricè inflation Increase to total pen5ion8ble payroll nla nla nl¥ nla 0.0% p. -1.5% p.2. Th8 legal structure of the Schem& is $u¢h thai if onoihtrr R85pon8ible Body fai13. Norwich Cathedral could become responsib￿ for paying & 5hsre of that Responsible Bodls pension liabilit￿5. 21 ANALYSIS OF CASH FLOWS FOR HEADINGS 2024 2023 NETTED IN THE CASH FLOW STATEMENT Inv¢stlng a¢¢bAtIos Inleresl received Investment income Rents received net ofe05ts1888 note 8a) 86,686 124.142 1.180,258 37.522 131.338 1,330.732 ¢a$h inflow for Investlng activities 1,391.086 1,499.592 Finan¢ln9 athitie5 Purchase of tangible fixed 8s88ts Sale of tangible fixed assets Purchase of fixed a5sel inv6Stm8nts Sale offixed asset inv8slments 13,6451 133,6721 1700.3031 647.156 1646,0221 342.423 Net Cash inflow I loutllowl for financlng actlvlties 56,792 1337,2711 Page 43

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 22 ANALYSIS OF CHANGES IN NET DEBT At Oth8 changes At 31 March 2024 1 April 2023 Ca$h tjow Net cash.. Cash al bank and in hand 2,517.230 1396.7661 2,120,464 Debt". Nel debt falling due within one year Net funds 2,517,230 1396.7661 2,120.464 Page 44

NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 23 ANALYSIS OF THE STATEMENT OF FINANCIAL ACTIVITJES FOR THE YEAR ENDED 31 MARCH 2023 BY FUND TYPE G8n8ral Fund5 Dèsignated Funds Restrl¢tsd Funds Endowm8nt Funds Total 2023 Notes Income Donations. lega¢ies and grantS'. Donats"ons Lega¢i88 - Grants Incorne from charilablg a¢tivitps Incorne from other trading 8ctivities Income from property and inveslrnent5 Total Income 379,268 2,131 10.727 86.454 397.080 2,245,449 3,121,109 1,124.554 2.650 1,506,472 2,131 236,809 86,454 402.478 2,245.449 4,479.793 226,082 5,398 1.358.034 2,650 Ralslng funds 11.306.776 11,306,776) Net in¢omln9 resources availabl• for mls$lon 1,814,333 1,356,034 2,650 3,173.017 Expenditure on mlsslon Ministry Cathedral and pr8¢incts upk88P Education and outreach Other expenditure 1756,8951 1582,0181 1167,0041 36,924 15,7151 12Sg.4341 1195,3181 11,601.4401 17,9381 110,5371 1.921 11.022,0441 12.378.776) 1185.4791 38,845 Total oxpenditure on mission 1.542.842 208.971 1.873.332 3,625,145 Total èxptndlture on ralslng funds. mission and governanco 2,849,618 208,971 1,873.3321 4,931,921 Net Incoming I lout90in91 resour¢¢s 271,491 1208.9711 1517,2981 2,650 1452,1281 Gains on revaluatlons and dlsposals of proparty and inv85tment$ Inve5trnent property Non-inveslment property Inv8stments 11 11 2.277 1201.4691 1201,4691 1203.7461 1203,7461 Transfers be￿88n funds 185,140 232.969 47.829 Net incraasos I IdeGfOa$¢$l In fvnds 86.351 23.998 1565,1271 1198,8191 1655,8741 Fund5 broughtforward 753,486 1,466,277 777,501 71,869,223 74,866,487 Funds carried forn¥ard 839,837 1,490.275 212,374 71,670.404 74,210,813 Page 45