NORWICH CATHEDRAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE CORPORATE BODY OF THE CATHEDRAL CHURCH OF THE HOLY AND UNDIVIDED TRINITY OF NORWICH Govern8d by a Consl'tuty'on and Statutes dated 11 May 2022 made under the Cath8drals Measure 2021. Registered Charity no. 1201015 LEGAL AND ADMINISTK4TIVE INFORMATION CHAPTER Ex8Clltive Mem fcha The V8ry Revd Dr Andrew Br2ddock- Dean Thé Reverend Canon Dr Peter Doll - Canon Librarian IAlso VI￿ Dean) Th8 Rev8iend Canon Andrew Bryant- Canon for Mission and Pastoral Care (retired 27 June 20251 The Rever8nd Canon Aidan Platten - Canon Pre￿￿tOr Non.Executiv• Members of Cha ter Lay Canon Elizabeth Wggins- Senior Non-Executive Memb6r of Ghapter Lay Canon Marie-Lyse Numuhoza Lay Canon Timothy Piocter L8y Canon Sir Nicholas Bacon Chapter Canon The Reverend Julie Boyd Lay C8non H15 Honour Stephen Holt (Appointed 13 January 20251 CHAPTER STEWARO IChi&f Operating OffiTrr & Chi&f Financial Offi￿rI Frederioue Barones Van Till Thè Chapter Offi 65 The Close Norwich NR14DH CATHEDRAL ARCHITECT I SURVEYOR TO THE FABRIC Mr Henry Freeland ARCHAEOLOGIST Dr Roland Harris MASTER OF THE MUSIC Mi Ashley Grote Page I THE CORPORATE BODY OF THE CATHEDRAL CHURCH OFTHE HOLY AND UNDIVIDED TRINITY OF NORWICH Gov8m8d by a COnsti￿tIon and Slatules dated 11 May 2022 made under the Cathedrals Me85ure 2021. Registered Charity no. 1201015 LEGAL AND ADMINISTRATNE INFORMATION CHAPTER Executive Members of Cha er The Very R6vd Dr Andrew Braddock- Dean The Reverend Canon Dr Peter Doll- Canon Libr8rian IAlso Vice Dean) The R&v8rend C8non Andrew Bryant. Canon for Mission and Pastoral Care lrttired 22 June 20251 The Reverend Canon Aidan Platten- Canon Pre￿ntor Non&xecutive Members of Cha Lay Canon Elizabeth Wiggins Senior Non-Executive Member of Chapter Lay Canon M3rie-Lyse Numuhoza Lay Canon Timothy Procter Lay Canon Sir Nicholas Bacon Chapter CanDn The Reverend Julie Boyd Lay Canon His Honour Stephen Holt IAppointed 13 January 20251 CHAPTER STEWARD (Chief Operating Officer & Chiel Financial offi￿rI Frederique Barones Van Till The Chapter Office 65 The C105e Norwich NR1 4DH CATHEDRAL ARCHITECT ISURVEYOR TO THE FABRIC Mr Henry F￿eland ARCHAEOLOGIST Dr Roland Harris MASTER OF THE MUSIC Mr Ashley Grote Page I FINANCE C MMITTEE Lay Canon Timothy Procter- Chair person The Revd Canon Andrew Bryant- Chair and Director NCEL Iiètired 27 Jun8 20251 The Revd Canon Aidan Platten - Canon Custos Mr Chris Yeates Mr Rowland Cogman Mr Aid8n W8tts THE AUDIT AND RISK COMMIThEE Dr Bryony F31ku5 Chaii p8rson Mr James Allen Prof Marion Brandon Iretired 14 Febmary 20251 Ms Sarah Daniels Ir8tired 3 March 20251 Mr St8phan Phillips Mr Graham Watson Prof Wiggins Thè R8vèr8nd Juli8 Boyd Prof Jonathan Dthèns18x-officio Safeguarding Chaii. apprynted 14 February 20251 AUDITORS MA P8rtnBr5 Audit LLP Statutory Auditors 7 The Close Norwich ARCHITECTS Fre81and. R885, Roberts 25 City Road Cambri(tge CB1 1BD MANAGING AGENTS Lawrents House 5 St Andrews Hill Norwi NR2 1AD NR14DJ BANKER Barclays Bank PIC 517 R8d Lion Stre8t Notwich SOLICITORS Howes Percival LLP STOCKBROKERS B8iratt & Cookè 5 Opie Street Norwich NR13DW 1 Bedding Lane Norwich NR3 1RG NR1 3QH Page 2 FINANCE COMMITTEE Lay Canon Timothy Procler- Chair person The Revd Canon Andrew Bryant- Chair and Director NCEL (retired 22 June 20251 The Revd Canon Aidan Platten- Canon Custos Mr Chris Yeales Mr Rowland Cogman Mr Aden Watt5 THE AUDIT AND RISK COMMITTEE Dr Bryony Falkus- Ch8ir person Mr James Allen Prof Marion Brandon Irelired 14 February 20251 M5 Sarah Danie15 (retired 3 March 2D25IMr Steph8n Phillips Mr Graham Watson Prof Liz Wiggins The Reverend Julie Boyd Prof Joriathan Dickens lex-officio Safeguarding Chair, appoint8d 14 February 20251 AUDITORS MA Partners Audit LLP Statutory Audilo 7 The Close NDrMch NR14DJ ARCHITE¢TS Freeland. RÈÈS. Roberts 25 City Road Cambridg8 CB1 1BD MANAGING AGENTS Lawren￿ House 5 St Andremls Hill Nonvi¢h NR2 1AD BANKERS B8rday5 Bank PIC 517 Red Lion Str88t NorwiGh NR13QH SOLICITORS Howes Percival LLP STOCKBROKER5 B8rratt & Cook8 5 Opie st￿et Norwich NR13DW 1 Bedding Lane Nopwich NR3 1RG Page 2 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 The Chapter submits its annual report 8nd the audited accounts for the year ended 31 March 2025. 1. NoTr¥SGh Cathedral Strate and Aims NorwiGh Cathedral is th8 seat of the Bishop of Norwch and the Mother Church of the Diocese of Norwich. At the heart of its life is the Cathedral Foundation which maintains a daily patt8rn of corpor8te prayer and worship and shares with the parishes ol the Diocese in every 8spect of the rnis5ion of Christ and of the Church's vocation. Dr8wing on ils Benedictine iTrheritan￿. the Cathedral is the focus for the Bishop's ministry and a home of education. fflusic, art and science. wher8 hospitality 15 extended to people of all ages in the name ol Almighty God. In July 2023 the C8th8dral Chapter reaff5rrned the Catheclral's vocation to be.. A plaGe where all are welcorne A place to share learning A p18ce to grow in holiness A place to Serve other5 Living out this vocatlon, Chapter has agreed three str8t8gic priorities for the Cathedral for 2023-28.. Growln Fallh.. enabling all who share in the C8th8dral's life to deepen theirencounterwth the Gospel ofchrist in prayer. worship and daily life. Visitors.. growng visitor 2nd pilgrim numbers, 8nabling all who ￿me to be inspir8d by Norwich Cathedral and engage with it 8s a place of worship. learning and hospitality. Servln CommunitiÈs.' using the Cathedr81's strengths and partnerships to sewe the common good, challenge social and environmen131 injustice, and inspire cornmunllies 3cross Norwi¢h, Norfolk and Waveney. 1.1 Growin Faith At 31 March 2025 the Cathedral Community Worshipping Roll stood a13211308 in 20241.11 is p￿aSIng to see w015hipping nutnbet5 retuming lo their pre-covid 18vels. Alongside those worshipping in person, the Sunday 10.30 a.m. Sung Eucharist also attracts belween 300400 online worshippers each week. In summary there were rnore than 1,500 services held this year. In addition lo our staff team of Vergets, we are grateful for all those who support our worship as S8rver5, Stewards, Chal5￿ Assistants, Readers and Inter￿sorS and those who 5ead our Sunday School. Thè worship attendance 15 rising and the apparent de¢rease in those requesting baptism and confirmation is largely Ihe result of the Easter Eve confimations not falling in this financial year. 202344 2024-25 Number baptis8d 23 Nurnber confirmed 18 Number Df married couples Number of funerals 10 Nurnber of m8morial s8rvic8S We provid8 a range of opportunitie5 for the wotshipping community to meet togalher for fellowship and to explore theirf8ith.' weekly Listening Lunches. exploring books from the Library Collection,. bi-monthty 8enedicline Evenings disGussing how the Rule ol Sl B8nedict still 5peak5 to our lives today.. Norwich Walks once a 18rm offering opportunities to discover sorne of the city's history", Hidden Cathedral exploring sorne of the less visited parts of the Cathedral site., Monthly Community Coffee Momings and a half temily Cathedr81 Community 8ook Group provide tnuch appreciated opportunitie5 for tnembers of the Cathedral community to get to know one another. In 2024 a Current Events Forum started, exploring th& Christian response to some of the major i55ue5 faci our so¢iely. Th8 Cathedral remains one of the largest congregations in th& DiocÉse. Through its Sunday and w88kday worship, it ha5 ability to draw in Peop￿ who may not connect with their p8Th8h Church so 88siIy. Its digital presen￿ is expanding.. for example, online engagement lover the same period) for Advent and Christmas increased from 7,013 in 2020 to over 7,557 in 2024. Online seNice attendance has increased by 34%. Christrnas in-pe150n attendance has also increased. up 7D￿ on the year before. The Chri5trna5 procesSIOn5 and Chrisltnas Eve and Christmas Day worshippers numbered 6,845 in 2019 and 10.540 in 2024. This, combined with eng8gement with vi51tors and pilgrirns, is of great significance lo the mission of the whole church. The Cathedral recognises the need to deepen and nurture this spiritual engagement, including grwng its Page 3 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 congregations to be younger, more diverse and deepening in faith. Broadening the Cathedral's pattem ofworship h8s been noted as 8n 8spir8tion, 8k)ngside finding appropri31e w8yS to consult wth the Cathedral cornrnunity and worshippers on how best the Cathedral can nurture their spiritual gro¥￿h. Use ol the Cathedral Library for study, borrowng and general visiting further grew to around 3.200 visitors in 2024-25. This ¢ore activity of the Library - being open for use consistently ITuesday-Thursdayl offers theological resour¢È$ 8nd a model of Benedictine hospitality by being open for all to undertake and sUPPOrt leaming in a welcoming ztrn05phere. Learning and growin9 faith continues through Norwich Centre for Christian Leaming INCCLI. inforrn81 theology se8sion8 held in the Library. The'Listening Lunch,. a thriving Gommunity activity, is open to all and is inspired by tho monaslictradition ofsilenl meals accompanied by someone reading aloud and wa5 attended by 627 people over the year. The Library held 4 main exhibrtions, 7 public touts and supported the Heritage Open Days in S8pl8mber. The Cathedral Schools Departfflent focu5ses their work on school visits and family learning event5. Family leaming focusses on three key points 1. opening up the Cathedral to all. 2. t811ing the story of the Cathedral and 3. providing stepping ston8s lo worship in the Cathedral. The team aims to offer free events eaGh year al Advent an¢J Easter. In lotsl more than 6,500 UK pupils attended through school visits, and 1,100 children attended family laaming events. Partnership work continuas with the Children, Youth and F8rnili8S team ICYFI of the Norfolk Dioc8S8 8s well 85 Other org8nisation8 and charities in the county. The year 2024-25 saw Iwo important partnership events.. WOOFYf- together with the music department workshops on a 'Wooden one octave organ for young t8chnologkSts' 8ttended by zround 250 pupils. A Medieval festwal callaboration with Norwich Castle on both sites, attended by over 150 children plus parents and carers throughout the week. Home education days were held lo build svJnifi¢ant relationships wth groups of home educating families acrDSS the ¢ounty. And a new ￿rtOon character called Flint the Foxjoined the team lo help show children and families Iheirw8y around the Cathedral, as well as engage with the 510ry of Jesus. in thi5 year 2,630 participated with the explO￿r backp8ck5 and guides. 1.2En Vlsltor8 In 2024-25 we welcomed over 625,000 people to the Cathedral compared wth 615,000 in the previous year, making Norwich Cathedral one of the regK)n's most visiled places. Th8 opening of the renewed k88p and ga118ries at Norwich Castle was delayed and is now planned for August 2025, which is expected lo positwety itnpact visitor numbers in future. In the last year, there wer8 187.429 unique Visitors to the Cathedral Website, equating to an averag8 of mor8 than 15,600 visitors each month. with a Spike of 22,240 visitor5 in Decernber for Advent and Christrnas. The increase IN visitor nutnbErs is reflected in increased donations134Y.l and increased turnover for bDlh the Cathedml Shop and the Refectory Café. Nevertheless, we always ensure there are place5 in the Cathedral where visitors can find peace and quiet to reflect and pray. sin￿ spriw 2023 the C3thedral has invested in growing the welcotne tearn, Bnd this is now bearing Iruil. We are enomiously gralefLJI to our wonderful volunteers who support our Ministry of Welcome. At 31 March 2025 we had 4301504 in 20241 working all areas of the Cathedral's life. Together they offered over 25,000 hours of volunteering which is worth to the Calhedral over £350.000. The declin8 in volunteer number is a ¢on¢em and the Cathedral is seeking to address this. 1.3 Seryln Communities Nonmch and Norfolk is a wonderful and vibrant place in %thich to Iwe and work. Yet it also has signfficant chaI￿nge5. Educational allainmenl, mental health and wellb8ing remain poor, with issues including selftharm and male suicid8, vio18nce and sexual off8nces. The Cathedral already engage5 Wth the wder comrnunity in a variety of Wdy5. Partners include local and national charities le.g. Christian Aid, Enolish+ Hop8 into Action, and St Martin's Housing Trust),. oth8r promin8nt Norwich oryani5ations le.g. UEA, Th8 National Centre for Writing, Norfolk and Norwich Festival, the Nomich Science Festvall,. and local businesses. The relationship with Norwich School is a significant part of the Cathedr81'8 daily life. In Jun8 2024 NO￿lCh Cathedral was awarded Cathedral of Sanctuary statu5 forthe'orvJolng cotnrnitrnent. of staff and Ihelr support lo refugee charities, and for being a'wekoming p￿ce of safety for all.. Our partnership continues with Hope into Action in supporting individuals move out of homelessness. With mernbers of the Cathedral congregation, we support two houses in the cdty, offering friendship and support as those living in the houses seek lo rebuild their lives. Chapter also offers a free base for English+ to hold one of their weekly classes, teaching Enolish to refugee5, a5ylurn seekers aTh Dthers new to the city lor whom English is nottheir first language. Some of our volunteers offer refreshments during these lea¢hing sessions. Page 4 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 Amongst our vi51tors are many who come to the Cathedral in parti¢ul8r need and we are grateful to our Day Chaplain5 in offering a listening ear and signposting on to other agencies in the city. We work in p8rtner5hip with th8 Other Anglican church8s in the city through the City Centre Chuiches Mental Health Group and are working with MIND Norfolk and Waveney to develop a mental he31th awareness course for front line Cathedr81 staff and volunteers. We are also grateful for our close ties with St Msrtin'5 who gNe us advice and guidaDGe on those liwng with homelessness. Each yearwe hold. in partnership with the Matthew Project, a seNce for th05e105t lo addiction and. in partnership wth TimeNorfolk a service for those who have experienced baby loss. This yearwe also h8ld a service for those bereaved by suicide, supported by HM Coroner and her Chap18in. E8ch yearwe tithe 10QA of our recewed planned giving with the Community Alms Committee agreeing 3 list of reciplents. Thi5 year we donated to The Commonwealth War Gr8ves Foundation, Clown Round, USPG Chri5ttnas Appe81 Ukraine Aid Project, Papyrus Prevention of young suicide, Joe Dix Foundation, The NOTh￿Ich Family Contact Centre and Anguish'$ Educational Foundation, English+ Doctors of the Wortd, Th8 Papillon Project, Lowland Rescue, Nancy Oldfield Trust, H4FA (Help For Forgotten Alli881 The D83n and Ch8Pt8r also donates annually from the Chrislrnas collection to one Intemalional. one national and one k)cal charty. 1.4S ewardshi The Cathedral is fortunate in having strong financial foundations, not least through its property portfolio. Nonetheless the current financi81 climate has highlighted the benefits of broèdening out the Cathedral'5 income streams. The most obvious of these is Incotne from Visito￿ and events. Actively planning for such incre85es should give us the financial capacity to invest more in our visitor facilities and staff to rea115e the opportunities this represents,. help fund wider community engagement.. and wntribule lo making sure we h8ve the underfying stsffing structure the Calh8dral needs. Increasing choir bursarie5 to widen ac￿55 to Cathedral music is tsf further inte￿$1. Building the Cathedral's financial resilience is set abngside Chapter's re5POnsibilities to maintain the Cathedr81'5 f8br￿. With a litnely approach to repairs and con5etvation, the financial support of The Friends, and the benefit ol the new buildings completed in the last iwenty y88rs (the Hostry and Refe¢loryl. care of the fabmc15 a Strength. 2. Summa hts and Perfomiance 2024-25 2.1 Strate ic Hi hts This year the Chapter welcomed a new Trustee His Honour Judg8 Stephen Holt. During the year the Strategy developed by th8 Dean and Chapter has become embedded within all departments ol the Charity and the developtnent of the Wel(xJm& and Donatitsn5 team was implemented. Cathedral of Sanctua In June 2024 Nonwich Cathedral was recognised as a Cathedral of Sanctuary. for its commitm8nt to supporting asylum seekers and iefugee5. Th15 Status acknowledges the Cathedral's ongoing work in creating a welcoming and safe environment for those starting n8w lives in NoNJich, particularly through partnerships wth organizatlons like Engli5h+ through the Hop8 into Action, extemal project- and 115 links with the homele5snes5 charity, St Martins. DI ltsl Welcome In keeping with the Cathedral's three strategic prK)rities, the overarching 8ims of the Cath8drdl's digital communications are to encourage people to join in with our 5ervice5 and events and to promote the Cathedral as a welcoming and inspirational city landmark there for everybody in m8ny different ways. In 2023-24 there were 182,440 unique visitors lo the C3lhedral website, this g￿W lo 187,429 visitors to the site in 2024.25, equating lo an average of more than 15,600 visitors each month. Mrilh a spike of 22,240 visitors in DeTrmberfor Advent and Christmas. In 2024-25 Notwich Cathedral broadcast 144 YouTube live 5trearns which had a co118Ctive total of 83.000 views. There were 574 new subscribers to the Norwch Cathedr81 S8rvic85 YouTube Channel, bringing the total al the end of March 2025 10 3,825. The top three watched services were Midnight Mass12.512 views), Christmas PrO￿ssiOn12,3l1 viewsl and Advent Proc8ssion11.661 views). Trl Advlsor-Tr3vellers' Cholc8 Award Norwlch Cathedral received a 2024 Travellers, Choice Award which reflects that Nof4M¢h Cathedral is in the top IO°A of vlsitor attr8Ctions worldwide based on Tripzdvisor reviews and ratings over the last 12 months. The Cathedral is also the number on8 p18ce lo visit in Norwich 8ccording lo TripAdvisor, wilh recent reviews describing the Cathedral a5 "a gem of a p￿ce to visit and "a jewel iri the crown., The reviews frequently mention the warmth of the welcome they receive al the Cathedral, as this ex8tnp18 illustr81es'. "1ncr8dibly beautiful, one of the most amazing churches l ever saw, wlth 50 much detsils to discover. Very friendly and helpful staff. guides and volunteers. Lovely ¢afé with good food and drinks. With Some luck you can hearthe lovely choir rehearsing. The whole expedence is lust perfecti. Page 5 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 Muslc at Notwich Cathedral Sepl8mb8r 2024 Saw the introduction of gid choristers into the main Cathedral Choir, singing alongside the boy chorister5 on an equal fooling, re￿￿IlTrg scholarships to att6nd Norwich School. 6 new choristets joined the Cathedral Choir- 3 girfs and 3 boys. Septernber 2024 also saw th8 inauguration of 8 new Senior Boys. Choir, giving boys aged 13+ wth changing voices th8 Opportunity lo sing at the Cathedral. 11 boysjoined, for a weekly rehearsal and sing a monthly service of Compline on a Sunday evening. which has been att8nded by 100+ people on each occasion. The Cathedral Choir currently consists of.. 20 boy and girl choristers aged 8-13 24 girls aged 13-18 in th6 Senior Girls, Choir 13 boys aged 13-18 in the Senior Boys, Choir Together with the chorister5 the Alto, Tenor and Bas5 ￿rtS (sung by men and women) 6 salaried Lay Clerks and 6 Choral Seholar5. IThe choral scholars are a group of young women and men who spend 1-2 years with us in order to gain experience at th8 518rt of th8ir ￿r8er in rnu5icI. Or an ebornl O an Festlval In July 2024 the Oryan Rebtsrnl Festival was held, Celebrating the compl81ion of the project to re-buiPJ the Cathedral'5 102-5top pipe organ lu)mpleled Novernber 20231. The Festival included". concert5 by world-leading organists Anne Page, Oavid Brigg5 and Anna Lapwood,. a concert by the Three Cathedral Choirs of Norwich. Ely and Pelerborough.. a silent movie with live organ accornpanirnent", a conTrrt by the BBC Singers d1￿cted by our M8Ster of Music Ashley Grote and accompanied by Cathedral Organist David Dunnett", a dosing concert given by the C8lhedral Choir abngside the Britten Sinfoni8', a free famity 'Batde of the Org3ns' concert and a cross-curricular music and Scien￿ progratnrne for 5Ghoo15 using the 'WoofO' (Wooden One-octave Organ for Young Technologists). BBC Radio 3 bioadcast three events from the Fastival.. Choral Evensong Sung by the Cathedral Choir, a concert given by the BBC Singers and an organ recital given by Anna Lapwood, further establishing Norwich Cathedral as 8 place of Musiral eXCel￿n￿. In th8 W8ek running up to opening night, there was a visit by HRH prin￿ Edward. Duke of Edinburgh as Patron of the Statham Society. 2.20 eratln hts Staffin l Llvln e Foundation Accreditation There have been only minor changes in the staffing at Notwich Cathedral, which continues lo operate with a small team. Som8 Support roles have increased (Accounts, Close Welcomers elcl to re£stablish resour￿ lost during Covid. Additional staffing was introdu¢ed to the Donation5 team to support the Welcotne lo all visitors in the Hoslry. From 1 May 2024 Notwlch Cathedral is an accredited Living Wage Employer. This rn88ns the Cathedral is cowntnitted to paying its stsff a wage that is basad on th8 real cost of liwng, a5 defined by the Llving Wage Foundation. Norwich Cathedral is proud to invest in it5 Staff tearn, which is 5UPPOrted by regularslaff briefings, Staff Eucharists and lunches, as well as training. In 2024 particular attention w8s given lo Safeguarding and First Aid Training, Mental Health awareness training and S8curity awareness arid training using the Protect UK pk2ffomi. Page 6 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 Vlsitor Welcome From February 2024 the Welcorne and Donauons team was reviewed and restructured. aThJ a new Visitor and Pilgrim Enoagement Manager (VPEMI end W81corne and Donations Team Lead8r IWDTLI appointed in April 2024. The total vi%ilor numbers, total donations and average donation per person can be found in th8 table b810w. 2022-23 2023-24 2024-25 Total vi511or Donations includin Gift Ald, not tours Total Visltor number5 £217.331 £242,265 £334,116 512,151 615,910 626,538 Average donations per person £0.42 £0.39 £0.53 The r8fr85hed Public Lavatorie5 carne back into Use in April 2024 after a 2 rnonth refutblshmenl. supporting the higher visitor numbers and improving overall visitor comfort. Paddin Paddington Bear became the newest resident of the Cathedral Close in February 2025 thanks to a partnership wth Studio Canal and Norwi¢h BID. The Paddington bench proved Incredib￿ popularwilh people of 811 ages and increasing foollall to The C105e and the Cathedral as well as boosting sales in the Cathedral gift shop. The sculpture is Causing much excitement acr05S the city 8nd it is wonderful the Cathedral has been able play a key role in th15 project. The Paddington bench is one of 24 dolled around the UK and Ireland as part of the Paddinglon Visits trail. Flint the Fox Flint the Fox is th& C8th8dr81's new children's character launched al the end of July 2024, by the Cathedral SchooL% team together with the WekomelDDnalions t88rn. Th6 launch was scheduled in the school holidays and related to special actimties such as Fox's Tal8s and Cloister Club. NO￿lCh North Hustln In June 2024 Norwch Cathedral seNed as a forum for¢onstructNe debate about the future of our local area when it hosted Nonthch North hustings ahead of the 2024 General Election. All of the prospective p3diamenlary canLliclates for Norwi¢h North were invited to the event which took plac8 in th8 Nav8 and covered tOPlCs including housing, educ8tion, the NHS and rHvJration. More than 1.000 people wat¢hed the hustings either at the Cathedral or online and the hustings W8r8 featured In the Church fitnes as well as by the EDP. Yahoo News, Network Norfolk, the Diocese ol Norwich and the Asso¢ialion of English CathedraLq. Ecolo Netzero and Biodiver51 Norwich C8thedral is actively working towards achieving the Church of England s Nel Zero tsrget by 2030. The overall en8rgy consumption has been considerably reduced by irnproved use of boiler controls, the instsllation of new Ihertnosta15, improved draught proofing and the wider use of LED lighting. Th8 Cathedral has been on a gr88n 818ctricity tariff since 2018 and now has a working group working to install solar panels and consKlering how best lo replace our gas boilers and reduce its carbon footprint in the future. Norwich Cathedral has be8n awarded the A Rocha Silver Ecn Award. Partnershi Workin across Diocese Ci and Coun One ol the Cathedral's great slr8ngths in serving th8 dioc£se. uty and county is in its path8rship working with key organisations. Partnerships with VisitNorvAch and Visit East of England have helped lo furth8r raise th8 profile of the are8 as a key visitor destination. We also regularly work cfosely with the DI0￿Se of mOn￿1¢h on many seNiw and 8vents. Other partnership working highlights in 2024-25 includ8'. Partnering with Norwch Castle for a Medieval Festival across both 511es on Saturday 2 November 2024. The event was madè possible thanks lo funding linked lo the Castle Keep project and wewere pleased to supportthe Casue and celebrate our shared Norman heritage. It was also an opportunity lo highlight further the Cathedral s new family ¢hara¢ter Flint the Fox who featured on the event's publicity rnaterials alongside the Castle's tnice at¥J Snap the dragon. Page 7 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 Working with Norfolk FSre and Rescue Service on an emergency Iralning exerci58 at the Cathedral. From a tnarketing and communications perspective, this involved working wilh th8 fire communi¢alions le3tn to ensure appropriate messaging W85 in place while the exerclse was under way and using the event as an opportunity to highlight the importance of partnership working to keep the county safe. 2.3 Flnancial Hi hts In a year wlh continued high inflatlQn 8nd rising costs on materials, the running costs for the Cathedral are growing. The income on propety remains slrong, bul alternative incorne sources 8re being reviewed. Very good trade by the Shop and Refectory INorwch Cathedral Enterprises Ltd) also improved the end re5ulls. The refectory contractor Breadsource reported a healthy and increased annual turnover. Pro In the prior year a higher number110+1 than usual of &rger houses were refurbished, which in this financial year have com6 back into use. Additional￿, the reletting of a number of commercial buildings reSu￿&d in 100llh ot£upancy ol the property portfolio forthe first time. This has supported a strong return on the investments in th8 property portfolio. In line with reduang the carbon footprint ol the Close properties and the government guideline5 on &n8rgy performance, further irnprovements to the property portfolio have continued. which means that there are no rnore propertie5 ¥lrith a F or lower rating and the overall slate of the buildings keeps improving. S¢holarshl 5 and Bursaries The 18V81s of chorister scholarships were set at a lump surn after years of contrTbuling 50DA of school fees. This helped control expenditure on scholzrships. GeTheral￿, choristers retnain on the same rale as was ag￿e￿ when they joined. The rates for new ch0ri5ter Scholarships st8rting this financial ye8r h8ve b88n agreed to be 30% of school fee5. One Chorister recepied a bursary from the Lady Hind Tru51. In 2024-25, 19 chorister5 W8r8 SUPPOrted by SGholarships and bursaries through the Norwich Cathedral Choir Endowment Fund Icharity no.. 2946711 to thè lolal of £162,633. 3. Cathedral Governance The mernbers of th8 Chapt8r have the general control and manag8m8nt of the adminislratlon of the Cathedral and, accordingly, are the Charity Twslees of the Chapter for the purposes of the Charitie5 Act 2011 following the Commencement of the charity provisions under section 53161 of the M8asure in relation to the Cathedral. 3.1 Trustees I Cha t8r Membershi The Notwich Cathedral Chapter consists of Executive Mernb8rs (who out day lo day Cathedrzl duti851 and NonExecutwe Members. The Ch8Pt8r must h2V8 more Non-Executlve Members than Executive Member5 and at least bmo-thirds of the NOn-EXe￿tWe Members must be lay pEr50n8. The Chapter must have at least eight rnemb8rs but no MO￿ than twelve. The Executive Mernbers of the Chapter are.. the Dean and the three Re5identiary C8nons. There are fNe Non-EKecutive Members. Please see the list of names of the Chapter membe[5 On the first page. The Chapter rnembers are appointed by recommendation ofthe Norninations Committee. Th8 Senior Non-Execulive m8mber of Chapter is s8par8t8ty appointed by the Bishop of Norwich aft8r consultation with th8 D88n. The Executive M8rnbers of the Chapter (the Resid8nli8ry Canons and Deanl receAie housing as part of their employmerlt, which is Classified as an Authorised Trustee Benefit. We ¢onfirm that Trustees do not receive 2ny further undeclared benefits. Page 8 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 3.2 Cha ter Function The Chapter must direct and oversee the administration of the affair5 of the Cathedral.. and in performing that duty, the Chapter musl in particular.. al order the worship of the Cathedral and piotnote its mission.. bl fo￿U[3te, 3fter consulting th8 Bishop, proposals relating to the general direction and rnission of the Cathedral., cl prepare an annual budg&t for the Chapter., dl prepare an 8nnual report for the Chapter and annual a¢¢ounts for audit and 5ub5equent approval., el keep under review the Constitution and the Stslutes., manage the property which is vested in the Chapter and the incorne accruing from it and. in particular, ensure that any necess8ry repairs and maintenance in respect of the Cathedral and its contents and other building5 8nd rnonumeD15 a carried out.. and gl hold th8 Common Seal of the Cath8dral and affix itwh8n required. The Chapt8r must, within ten months of th8 end of its financial year. send a copy of ils accounts and annual report to the Church Commissioners, the Bishop and the Ghaiity Cotnmis5ion. The Chapter has the powers relzling to investment and oth8r uses of mon8ywhich are set out in sectson 24 of the Measure. The Chapter is not pemiitted to Use the power conferred by section 292B of the Charities Act 2011 (social investm8nt powerl. 3.3 Cathedral O erations The Chapt8r is supported by the Cathedral staff team 8s well as a number of statutory and operational committee5. The Chapter Tiustees appoint a Chief Operating Offior and Chief Financial Offic8r to undertake adrninislration in the Cathedral a5 well as an Architect or Surveyor of th8 F8bric of the Csthedral. Al the moment the rol8s of Chief Operating OffI￿r and Chi8f Financial Officer are both executed by on8 person. the Chapter Steward. The Chapter Trustees oversee the financial strategy, 5UPPOrted by the Chief Financial Officer, with advi￿ frorn the Finan Committee Advisor8', and this is reviewèd by the Audit & Ri8k Cornmitt88 which tneets al least ￿1c6 a y8ar. This. together with an 8Xternal finariclal audit lundartaken by MA Partner5 Audit LLPI, provides s¢rutiny of routin8 financial adtnlnistralion and bnger-18m resourcing. Human Resource matters 8r8 mansged by the Chapter Steward. Chapter sub8crib8s to the semces ol MENTOR, part of the N8lWesl Group, who offer HR advice and guidance, and maintain and provide the Staff HandboDk and other formal HR documents. When memb8rs of staff le8ve or retire, the Chapter undertakes a review of each post 3loDg5ide consideration of the future st8ffing and development needs ol the Cathedral. Thi5 ensures that resources are used to good effect and deliver best value for money. The Chapter etnploys 61 145 full-time equivalentl Members of staff, both full and part4im8, and Is grateful lor the commitment, enthusiasrn and dedi¢aliDn of the staff team. 3.4 Norwich h dral Ente rises Limlted NCEL -com - 01055452 The Cathedrals tfdding oper&tion5 (Cathedral Refectory and Shopl are run by Norwch Cathedral Enterpris8s Limited, an independent subsidiary company of the Norwich Cathedral charity. The Chapter is the 501e shareholder and is responsible for appointing Director5. The board meets at least three times a year. The R8fectOry 15 OUt50urod to Breadsource Ltd. paying cornmission a5 well as a contribution towards the use an(J Gleaning of the Refectory buiIding. 3.5 The Relatltsn$hl betsveen the Cathedral and the Dlocese In fvifilllng its purpose 8nd prioritie5, the Cathedral is rnindful of the vision of the Dioc£se of Norwich, to be transform8d by Christ, prayerfully, pastorally and prophetic2lly. The C8thedral 8Iso Seeks to echo the vocation of the wid8r Church of England as it seNes the whole nation in way5 that are ￿nt[ed on the pattern of Jesus Christ. sh8ped by the five rnatks of mission.. Proclaim the Good News ol the Kingdorn Teach. nurtLJre and baptise new beSiever5 Respond lo human need by loving 5erwice Seek to tran5fortD unjust structures of SoC￿ty lo challenge violence of every kind, and to pursu8 pe8ce and ￿conCl11at10n Strive to safeguard th8 integrity of cieatlon and sustain and renew the life of the earth. And endeavours to be a ¢hur¢h that is simpler, humbler. and bold8r. The Co118ge of Canon5 has the function$ mnferred by the Appointment of Bishops Act 1533 on th8 b(xly referred to in that Act as the Dean and Chapter of the Cathedrsl. The College of Canons is independent olthe Chapter and neithar the College nor ils tnernbe15 lin their capacity as such) form part of the body corporate of the Cathedral. Page 9 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 The rnernber5 ofthe College of C8nons are.. the Dean.. every Suffragan Bishop of the Diocese., every C8non of the Cathedral., and every Archdeacon of the Diocese. The College of Canons meets on at ￿a$1 one occasion in each calend8r year and supports the ministry and mission ol the Cathedral, acting as critical friends to Ch8Pter and Ambassadors for the Cathedral in the Diocese. 3.6 Allied Charitles Nofwich Cathedral ChoFr Endowment Fund NCCEF Chari no. 294671 The Choristers al NorriGh Cathedral are financially supported by the Choir Endowment Fund. Thls Independently registered charity is chaired by an independent Chair and man8ges the investments carefully to spend 811 generat8d incom8 on Norwich Chorister scholarships. Norwlch Cathedral Trust_ Charl no. 1069305 The principal objÈcl of the Norwich Cathedral Trust is.the 5UPPOrt of such charitable purposes connected with the Cathedral and the Dean and Chapter as the Trustees sh811 from time lo time in their absolute discretion determine.. Any international donations and gifts 8r8 managed in partnership with Chapel & York UK Foundation. The Statham Society. the Cathedral's group of music 5UPPOrters. has grown in membership with a regular monthly income. This fund 8nsur88 th8 financ4al wability of specyal musit21 projects, while also engaging the memb8rs with special 8V8nts. Friends of Norwich Cathadral- Chari no. 249460 The aim of the Friends of Norwlch Cath8dr81 is lo furtherthe relyious and other charitable work of the Chapter of Norwich C8thedral and to promote the restoration. maintenance, ￿pair and irnprovernent of the fabric and fumishings of the Cathedral Church in the spirit which inspired its founder. Herbert de Losinga, wh8n he caused its buildings lo be undertaken. 4. Poli and Com lianc8 4.1 R15k M na emen The Chapter reguhrly r8vi8ws the major risks to which the Cathedral is exposecj, and systems have been established to rnitigate these, as well as ￿VIeW of the related poli￿e5 and procedur8s scrutinised by the Audit and Risk Cornrnittee. The regular updating of the Risk Register and review by the Audit and Risk Committee. the Statement of Delegated Authority ISODAI and ReseNes Policy are reviewed by the Fin8nce Committee and all findings 8re reported lo the Trustees. In November 2024 a swcial training forChaptermemberS￿ru$tees and all tnanagerslrnernbers of SMTw8s held focussing on risk managetnent and risk appetite. given by EIG. 4.2 Safe uardin Safeguardlng of children and vulnerable adults is a prk)rity forthe Chapter and Is Included a5 a Standing Agenda itern atthe Chapter Meetings. The Cathedral's Safeguarding Committee. mee15 quarterly and at least three External Advisors sil on the Cathedral's Safeguarding Committee,. Becky BoDth. Deputy Manager. Norfolk Safeguarding Adtyll Board and Ms Natasha Rennold5 IUnSver51tyof East Anglial and Ms Christine Hodby. The independent Chair Professor Marian Bralldon, Professor of SO￿81 Work at th8 University of East Anglia, r8tir8d on 14 F8bruary 2025. and was succeeded by Professor Jonathan Dick8ns, Emeritus Professor of Soual Work. Revd Canon Andy Bryant has been the Cathedral'5 Named Person from 7 March 2022. Safeguarding support is orgallised through a SLA with the Diocese of Norwich, providing a Safeguarding advisor for ane day per week. With support from th8 Dioc8S8 safeguarding team, safeguaiding training wa5 ￿Mpleted for all staff and volunteers, in line with our safeguarding policy. Additionalty, any safeguarding queries and concerns were closely monitored and dealt wlh. In the year 2024-25 no fomial safeguarding cases were reported. 4.3 Health & Safe The th￿at of fire, terrorism and flooding is ￿vieWed annualty with 8 Risk Assessment Carried out by The Redcat Partnership (the Cathedral's Health and Safety Advisor5 based in Norwichl, and the Cathedral enjoys the full cooperation ofthe Norfolk Fire Servi￿. The Cathedral continues to work ck)sely with its insurers, Ecclesiastical Insurance IEIGI, lo mitigat8 against risks. The Salety Comtnittee meets regular￿ lo review any accidents arTrd incidents, training needs and any policy update5 required. In 2024-25 rK) serious incidents were reported. A practice fire drill during a service was done 8nd the 18ssons learnt discussed with the Trustee5. Page 10 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 4.4 General Data Protection Re ulation GDPR Norwich Cathedral operates in line with The Data Protection Act 2018. During this year there We￿ no incidents or subject acce85 request5. S. Public Ben8fit Norwich Cathedral. Sin￿ 7 Novemb8r 2022. 83 a r8gisler8d Charity. has regulation by the Charity Cotnrnission by agreement of the Church Commis5i0ner5. The Dean and Chapter ahmays adhe￿ to good pr2Ctice in the way il conducts the affairs and busines5 of the Cathedral. On8 thing which 15 central to all that we do is providing public benefit to those we s8rv8 and followng Charity Commission guidan￿ in this respect. Some examples of this includ8'. 5.1 Growin falth Providing acts of worship every day uf the year, up to 1,500 servi￿5 a year. and especially the well-attended services during Easter and Christmas Providing WDrship online for Ih05e not being able lo join in person Providing Scholarships, Bursaries and Award5, totalling £162,6331£173.189 in 2023-241 to the 19 Choristers (girls and boys) Providing educatiotlal activitie5 forschool children each year, wth over 8,000 pupils visiting the Cathedral 8nnually Providing woth experience placements for secondary school children, 2 this year Providing volunteering opportuniti88, induding training to over 430 volunteers lit should be noted that approximately 10% of our volunteers use their experieno at Norwich Cathedral as a way back into work either du8 to special need5 or after illness or ment81 bre8kdownl Providing adult education optx)rtunities in pathorship with Norwich Christian Centre for Leaming INCCLI 5.2 W81comin vlsltors Providing a warm and weknming wsilor 8XP8ll8nce'. wth ov8r 625,000 visllor5 a year Providing facilities for conferenGes, events, GonGerts and seminars each year Welcoming pilgrim groups 5.3 SeNin Communitl8S Providing the Cathedral, free of charge lo the Bishop for major Di0￿san ServicÉs Sharing skills and kno￿edge of the Dean and three Residentiary Canons by their assistance and adwc8 for parish8S thin the Dio¢ese of Norwich The Cathedral Community has adopted ￿ Hope into Action Hom8s lon8 us8d for refug88sl providing befriending and suppart with their Integiallon and the second house accommodating a family fleeing domestic abuse Engaging with mental health issues, including support by volunteer Cathedra5 chaplains to visitors The Cathedral signing up to the HEAR pledge, supporting all staff and volunteers to b8 abl8 to support and identfy victims of Dom8Stic Violence Providing opportunitl8S to work in p8rtn8rship with oth8r5 on social and community issue5, especially with regard to more vulnerable social groups Providing free weekly use of the Weston Rooffl to English+; a local Chrfsdan Charity who offer English classes to refug88S and asylum s8ek8rs Congregational GolleGtions. planned giving and wllections handled on behalf of third p8rtie5 totalled £80,755 for the year. The Cathedral policy is that ten per cent of the tnonie5 given 35 planned congregational giving is made available for alms giving at £6,100. The tot81 co118Ct8d in the main Advent and Christmas ser41￿5 Is also donated to Gharities. 'After deduction of expenses. £9,704 wa8 donated behmeen Joe Dix Foundation, Shelter and Chrisiian Aid., This y88r we donated to The Comtnonwealth War Graves Founclation, Clown Round, USPG Christmas Appeal Ukr8in8 Aid ProleGt. Papyrus Prevention of young suicide, Joe Dix Foundation, The Norwich Fatnily Contact Centre and Angui5h'5 Educational Foundation, English+ Doctors of the World, The Papilk)n Project. LO￿and R88cue. Nancy Oldfiekl Trust. H4FA IHelp For Forgotten Alliesl Page 11 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 6. Mana ement ofAssets and Resovrces 6.1 Cathedral Fabric As Cathedral ArchiteGt, Henry Freeland ov8rs888 the maint8nance of the Cathedral Fabric and regularfy advises the Chapter, pdoritising proj8Cts and ov8rseeing the work of contractors worf(ing on the building. As part of this Quinquennial Inspection work, the following projects hav8 b88n completed in the last h￿efve months. Repairs and conservation to the south aisle roof bays 5 to 9 8nd the N&ve 50Uth clerestory adjacent to those b8yS. Decontamination of the nave roof Spa￿ and air test5 in all mairi roofs. Provision of handrai15 to the steps from the cloisters lo the Locutory. Cornpletion of the upgrading 2nd rewiring of th8 doister walks lights and sockets. Addition of a ladder from the organ gallery to the south gallery. Cornplelion of the upgrading of the Refectory Lavatories. Structural ￿paits to the tank room roof and provision of anti-parking bolL3rds. Addition of people counters 81 entrances. C188ning of the Caen stone block outside the wesl fronL A spire ladder and a spir8 light glazing repair plus other fniscellaneous repairs. Refixing of a tower turret door blovm out in a stoitn. Updating of the Deans, name board. A Specification was prepared and tenders reTrived for repairs to the Browne'8 Meadow Carpark Precinct wall. An outline scherne was prepared for a Childrens, centre in the northwest corner of the Deanery Garden. A planning application was mad8 for accessibility improvetnents to the paving under St Ethelbert'5 Gale (but later wilhdrawnl. Scheduled Monuments Consent was approved for this and sotne irnpiovements to drainage under the Erpingham Gat8. Refectory Floor grille5 were ￿paired by Jason Greenberry. A rainwater channel was added outsid8 Priors H811 for flood protectlon. The bells and dock mechanisrn in the tower was overhauled. R8pairs and conseNation to the south aisl8 roof bays 10 to 14 and adIa￿nI derestory and aisle wa11s has bean almost mp18t8d. A Scheme for solar pan818 on the south 81818 and ck)isler r(x)fs has been developed to provkI8 8leclricity for the Cathedral and Refectory. A schetne lor improvem8ntS to the pr85bytery GaI￿ry for accompanled tours has been dev8k)ped. 10 12 13 14 15 16 17 18 19 20 21 Chapter ar8 indebted to the Frfonds of NoNlch Cathedral who kindly fund much of the general upkeep of the Cathedral building. This has enabled Chapter to steadily work through the tD051 urgent items within the Quinquennial Inspedion report. putting them in good order. Being proactive, as opposed to reactive, in the tnaintenanTr ol the Cathedral is key to the well-maintained Cathedral bullding which we all value so rnuch. 6.2 Cathedral Pro The 120 properti85 in The C105e and immediate vicinity are the major source of income for the Chapter. The Chapter and Property Cotnrniltee, Ih&refor8, consider it a priority lo invest in these historic buildings to maintain stand8rd5 and enable the generation ol sustain8d income Into the future. A major priority now and in coming years will be to further improve the energy efficiency of our buildings ah88d of the taryets s8t by government for rental properties. Our policy is to target the worst perfomiing prop8rt18S and those being refurbished to see what improvement measures Can be don8. Rental income amwntsd to £2,202,299 and di18pidations income amounted lo £155,274. Investment property return on investrnent (before rev8lualionl forthe yearwas £1.530,113 as per note 8 to the accounts. Atnendment to the Five Year Valuation lundertak8n in 20211 took place at 31 March 2025. and concluded the same position as 31 March 2024. As can be seen. the retum on the Property Endowment is substantial and enables the Chapter to offer an enhanced programm8 of rnis5ion and outreach. In the currenl econotnic climate. it is even more important to keep abreast of the property rnarket'5 trends and developments. The Ch8Pter is keen to maintsin a balanced portfolio within The Close. The Cath8dr81, Refectory and Hoslry are insur@d on a first-loss basis for £115,252,500 with the Ewlesi8Stical Insurance Group. Page 12 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 7. Flnan¢es - Focus Following on from the Financial highlight5 aswell as the further reports mentioned above thefin8ncial strategyfor Norwich Cathedral 18 focu5sed on.. 7.1 Incoma Develo ment A5 tnenlioned above, the D88n and Chapter are working to increase Income beyond the income generated from propety and investment assets, by developing the donatlQn5 and visitor income. 7.2 Cost Control Th8 Cathedral rnanages il funds by setting annual department budgets, which are conlro11ed by way of the Statement of Delegated Authority and Purch85e Order Policy. These are reviewed annually by the FinancÉ Committee. Any additional expenditure is approved in advan￿ ty the SKIT and Chapter. 7.3 Strate nln Fund$ The Cathedral is lortLtnat8 to hav8 acc8SS to designated and restricted funds, collected from special donations, ￿gael88 and gifts and 88rlier 8nnual surplus. In autumn 2024 the De8n and Chapt8r have reviewed and aligned these fvnd5 to the Strategy lo the Cathedral Strategy. This h55 led to the reduction of the numbei of designated funds and the tighter control on expenditure. 7.4 Bud ettn The budget planning proTrss is detailed and indudas meetings b8tW88n budg8l hold8rs and the Chapter Steward and Finance Manager, a reviewof finances required lo support departmentsl development plans. a review with Savills regarding rental incomes, review of the previous yeaffs activit188 and con5id&ration of c8ntr81 Chapter sponsored projects dire¢tly re18t8d to the 8im8 and objectives of th8 Strategic Plan. The draft budget is s¢rutinised in detail by the Finance Cornmittee and the Chapter, and the final budgel is reported by Chapter. The budget p13nning process includes Chapter undertaking a r8Vl8w of the pay and remuner8tio of 811 member5 of staff. The Chaptei's budget, including Norwich Cathedral EnterpThses Litnited for 2025-26 was initially set al a conservative deficit of £55.538. However, during review of the designated fund5 at year 8nd it wa5 decided to tnove the expenditure from the additional Carpenter 8nd EPC work listed under the Property Refurbishments fund10521 into the operational Property budget, as these were reqUI￿d annual costs that would benefit from closer monitoring under the management accounts. This increased the 2025-26 budget to an updated defi¢il budget Of £176,257. 7.5 De51 natlons and Restricted Funds 2024-25 As detailed on page 19, the Cathedral general tund for the year ended 31 March 2025 showed an operational surplus 01£280,757. Following de51gnations of £165,200 inio th8 Prop8rty fund and the D8velopment Fund. the remaining £115,557 was transferred Into reserves. After net outgoing resources on designated and restricted funds Df £411,368, 8nd the aforementioned designations of £165,200, the total year end mov8rn8nt on Cathedral Statement of Financial Activities equates to en overall deficit of £130.611 for th8 financial y88r. Procedures are in place lo ensur8 that eXP8nditur8 is properly attributed 10 Specific fund5 before unrestricted reserves a￿ called upon. The Chapterfs aim is to ensure that unrestricted funds are maintained at r8asollable levels, to allow flexibility in their availabilty and use. 8. Goin Contem Having considered in detail the above note on the 2025-26 Budget, the Gash flow projections to April 2026, th8 detsi18d Risk Register, the Reserves Poli¢y, the large capitsl ba38 of the Prop8rty Endowrn8nt and the currently unutilised loan facility, the Chapter is confident Ih8t the Cathedral is more than able lo meet its liabilities as they fall due for the for8s88able future. The Chapt8r therefore considers that it is appropriat8 to prepar8 th8 financial slal8m8nts on a going concern basis. 9. Reservès Pollc The Dean and Chapter acknowledge their slatulory duty lo have a Reserve5 Policy and for details ofthis to be published within the Annual Report and Financi81 Statements. This policy is not ststic and wll be reviewed by the Finance Committee and proposed to the Dean and Chapter on an annu81 basis. The Dean and Chapter consider that il need5 the Sum equivzlenl to three months of salarles and essential costs tak8n from th8 2024125 budget to be held in r8S8rve. The R&serv8s policy was updsted 8nd 8pproved on 31sI March 2025, with an increase ol the target following th8 change5 In the operational costs, setting the new reserves target at £690,000. Page 13 NORWICH CATHEDRAL ANNUAL REPORT OF THE CHAPTER FOR THE YEAR ENDED 31 MARCH 2025 During the financial year 2024-25, an additional £115,557 has been added to fr88 reserves, which now sland al £891,715, which means that the Dean 8nd Chapter have now reached their reserves target al the end of March 2025. An overdraft facility of £300,000 is available, secured agsinsl freehold properties on Bishopgale. The facility was approved by the Church Commissioners la letter dated 28 February 20081. The overdraft facility is not in use at 31 M8rch 2025 and is not induded in the free reserve calculation above. However, the facility is 8vailab18 to D8an and Chapter should il be required. 10. Cha ter re5 onsibllities Chapter is responsib￿ for preparing the annual report and the financial 5tst8ments in actDrdance with applicable law and Unit8d Kingdom Accounting Standards Iunited Kingdom Generalty Acc8Pted Accounting Practi￿1. The law applicable to charities in England & Wales requires Chapter ta pr&pare financial staternents for each fin8ncial ye2r which give a true and fairview ofthe stale ofaffairs of the Group and Cathedral and of the incoming resources and application of ￿$oUr￿S of the Group and Cathedral forihat period. In preparing these financial ststern8nts, Chapter are required to.. select suitsble accounting policies and then apply them consistently", observe the rnethods and principles in the Charities SORP 2019 IFRS 1021,. make judgements and es1irnat85 that 8re reasonable 2nd prudent., state wh8th8r applicable accounting standards hav& be8n followed.. prepare the fiTiancial 5tstgments on the going con￿rn ba3is unless rt is inappropriate to pre5urne that the Group and C8lhedral wi15 ¢ontinue in operation. Ch8Pt8r ar8 r8sfM)nsibl8 for kÈeping pmper accounting records that di5cb5e wrfth reasonabl8 accuracy at any time the financial position of the Group and Cathedral znd enabl8 them to ensure that the financial st8lernents comply with the Charities Act 2011, Charities IAccounls and Reports) Regulations 2008 and th8 provisions ol the Cathedral constitution. Th8y are also responsible lor safeguarding the assets of th8 Group and Cathedral and hence for taking reasonabk steps for the prevention and detection of fraud and other irregularities. 11.A roval of Annual Re These acGounls were approved by th& Chapter on I J4115 and are signed on its behaff by The Very Rev8rend Dr Andrew Braddock Dean of Norwlch Page 14 NORWICH CATHEDRAL AUDITOR'S REPORT TO THE CHAPTER OF NORWICH CATHEDRAL FOR THE YEAR ENDED 31 MARCH 2025 Opinion We have audited the finanGlal statements of The Chapter ol Norwich Cath￿ra1 forthe year ended 31 March 2025, whi¢h comprise the Consolidated 8nd cathedral-only Statement of Financi81 Aclivilie5, the Con501idaled and Cathedral-only Balance Sheets, the Cash Fli)w Statement and the notes lo the financial statements. The financial reporting framework that has been 8pplied in their preparation is applicable law and United Kingdorn Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard 8pplicable in the UK. In our opinion, the financial sfal&m8nts'. give a true and fail view of the 5ts1e of the group's and of the Cathedral's affairs as at 31 March 2025 and ol the group'5 net movement in funds for the year then ended., and have been properly prepared in accordan￿ with United Kingdom Generally A¢￿pIed A¢¢ounting Practice; and have been prepared in accordance with the requirernents of the Charitie5 Act 2011. Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII and applicable Lqw. Our responsibilities under thDse stsndards are further descnbed in the Audilovs responsibilities for the audit of the finan¢ial slalements section of our report. We ale Independent of the group in accord3nTr with the ethi￿1 requiiernenls that are relevant to our audit of the financial Statements in the UK, including the Financial Reporting Council's Ethic81 Standard, and we have fulfilled our other ethi¢al responsibilities in accard8nce with thes8 requir8ments. We b8li8ve that th8 a￿lt evid8nc8 W8 hav8 obtained is suffiuent arKI appropriate to prowde a basis for our opinion. Con¢luslon relatlng to golng concern In auditing the financial st8lèm8nts, w8 have ￿nclUded that the Trustee's use of the going conc8m basis of accounting in th8 prepar8tion of the financial statements is appropriate. Based on the WDrk we have perfom)ed, we have not ￿entIfIed any material Un￿rtaIntieS relating to events or conditions that, individually or collectively, rnay cast significant doubl on the entitys ability to continue a5 a going concern for a period of at least 4elve months from when the financial st8t8m8nls are 8uthorised for issue. Our responsibiliti8s and the responsibilit185 of the Trust88S Wlth respect to going conc&rn ar8 d85crib&d in the relevant s8ctions of this report. Other Informa¢lon The Trustees are rÈsponsib18 for the oth8r infomiabon. The other information comprises th8 information induded in th8 Dean. Report and the Chapter Trustees, Report. Ouropinion on the financial stslements does not cover the other information and, except to th8 extent otherwise explicitly stated in our r&port, W8 do not 8xpress any form of assurance conclusion thereon. In connectK)n with our auditof the financial 5tstement5. our respon5ibilty 15 to read the other inforrnalion and, in doing 50, consider whether the other inform8tlOn 15 rnalerially inconsistent with the fin8ncial slalements or our knowledge obtained in the audit or othew5e appears lo be materialty misstated. If we id&nlify suth material intonsislencies or apparent material misslatèmenls, we are required to delerrnine whether there 15 a material misstatement in the financial staternenls or a material tni5Stalernent of the other ￿nfOrmatIOn. If, based on th8 work we hav8 performed. w8 cnnclude that th8r8 is a material rnis81atem8nt of this other inforrnalion, we are reqUI￿d to ￿pOrt this fact. W8 have nothing lo repDrt in this regard. Matters on whlch we zre required to report by exception We have nothing to report In respect of the follo¥￿ng matters in relatSon to which tre Charitie5 la¢wunts and Reports) Regulations 2008 r8quir8 US to report lo you rf. in our opinion.. the information given in Ch8Pterfs annual r8port is inconsistent in any material r8SP8Ct with the fin8ncial statem8nts', or suffiGienl accounting records have not been kept., or the financiHI statements a￿ not in agreement with the accounting record5 and returns., or we have not received all th8 information and explanations we require for our audit. Page 15 NORWICH CATHEDRAL AUDITOR'S REPORT TO THE CHAPTER OF NORWICH CATHEDRAL FOR THE YEAR ENDED 31 MARCH 2025 Responsibllltles of Chapter As explained more fully in th8 Stat8rn8nt of the Chapterf R8sponsibilitl85 State 58t out on p8ge 14, the Chapter mernber5 are responsible for the preparation of the financial statements and for being satisfied that they give 8 true and fair view, and for such internal Control as they determine is necessary to enable the preparation of financial statements that a￿ free from material misstatement, whether due to fraud or error. In preparing the financial stat8m8nts, th8 Chap18r member5 8r8 responsible for assessing the Group'5 and the Cathedral's ability lo continue as a going concem. disc105ing. as applicab￿, rnalter5 ￿lated to going ¢on¢ern and using the going concern basis of accounting unless they either intend to liquidate the Group or the Cathedral or to cease operations, or have no realistic amemalive but lo do so. Audltorfs responslbllltles for the audlt of the financlal statements Qur objecliv8s are to obtain reasonable assurance about whether the firiancial staternents as a whole are free from material mi5Stalemenl, whether due to fraud or error, ancf to issue an auditor5 report that includes an opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accoidance wth ISA5 IUKI will always detect a material tnlsstatement when it exists. Misstat&ments can 8rise from fraud or error and are considered tnaterial il, Individually or in the aggregate, they could reasonab￿ b8 expected to influence the economic deasions of users taken on the basis of these financial ststem8nls. Irregularities, Includlng fraud, are InStan￿S of non-compliance wth laws and regulations. We design pror£dur8s in line with our responsibilities, otrtlined above, to delecl material misstatements In respect of irregularities. including fraud. The extenl to which our procedures a￿ capablo of d8t8Cting irr8gularilies, including fraud is d8tai18d below. The obje¢tives of Dur audit In respect of fraud, are., to identify and as5e5S the risks of material mlsstalement of the financlal statemen15 due to fraud., to obtain sufficient appmpriate audit evidence r8garding the assessed risks of material rnbsstaternent due to fraud, through designing and itnpletnenting appropriate responses lo those assessed risks,. and to respond appropriately to in513n￿$ offraud orsuspect8d fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests wllh both management and those charyed ￿th g0Veman￿ of the group and the par8nt charity. Our approach was as follows.. We obtained an underst8ndiNg of the legal and regulatory requirem6nts applicable lo the group and Identsried that the principal risks ol non-compliance with laws and ￿gUlatiOnS related lo the Charities Act 2011 and the Cathedrals Measure 2021. We ass8ssed the risk of material mi5Statem8nt of the finsncial statements, induding the risk of rnalerial tni%slatetnent due lo fraud and how it might occur. We carried out testing ol joumal entries and challenged assumptions and judgements rnad8 by management in their accounting estimates. We inquired of management and those charged with governan￿ as to any known instan￿5 of non- compliance or suspected non-compliance with laws and regulation5 and fraud. Bet2use of th8 inherent limitation5 of an audlt, there15 a rk%k that we wlll not detect all irregularities. including those leading to a material misstaternant in the fin8ncial st8tetnents or non-compliance with regulation. This risk increases the more that complian with a law or regulation is removed from the events 8nd transactions reflected in the financial statements, as we will be less likely lo b8come aw8re of instance5 Of noTr-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than etror, as fraud involves inl8ntional concealm8nt, foryery. collusion, omission or misrepresent81ion. A further description of our responsibilities for the audit of the financial 5tzlements 15 located on the FSnancial Reporting Coundl website at.. www.frc.org.uk1audilors￿$p0Th$1blliIle$. This description fonns part ol our audilorfs report. Page 16 **NORWICH CATHEDRAL** ## **AUDITOR'S REPORT TO THE CHAPTER OF NORWICH CATHEDRAL** ## **FOR THE YEAR ENDED 31 MARCH 2025** **Use of our report** This report is made solely to the Chapter members, as a body, in accordance with Section 27 of the Cathedrals Measure 2021. Our audit work has been undertaken for no purpose other than to draw the attention of the Chapter members to those matters which we are required to include in an auditors' report addressed to them. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Chapter, and the Chapter members as a body, for our audit work, for this report, or for the opinions we have formed. Christopher Dugdale BA FCA (Senior Statutory Auditor) For and on behalf of ## **MA Partners Audit LLP** Statutory Auditors 7 The Close, Norwich, NR1 4DJ Date: 6th November 2025 Page 17 NORWICH CATHEDRAL CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 General Funds Deslgn3ted Restrlcted Endowment Funds Funds Funds Total 2025 Total 2024 Notss Incon Dona￿D￿s, legacies Bnd grants.. - DDnatlon3 - Legacles Grants Income from charilabk activities Income from other trading aclivilk85 Income from propertyand iThv85lmen15 Totsl Introme 480,558 5,383 19,115 124,229 535.181 2,4111,931 3,595,397 590,779 1,1174857 5,483 200,B17 124,229 $44,482 2.566.ZQS 4,516.113 860,875 4,500 220.657 99.512 476.459 2.241.801 3,903.804 100 161.702 9,301 155,274 917,056 3,660 ftalsing funds 1.603,6401 1.603,840 1,481.938 Net In￿mIng resources avallable for mlsslon 1.991.757 917,056 3,660 2,912,473 2,421.866 Exp8DdiiurE on rn1s$ltsn 1843,7881 166Y,$121 12,75DI 1498,40n 1298,19n 1395,1£91 18.4891 11,144,735) 11,062.9881 11,563,108) 11,327.5641 1207.0391 142.4411 Cathedral and PFadn¢ts upkogp EducalK)n and oulreath Olherexpendilure 37,690 4,7S11 IA3.0721 Total 8XP8hdliitre on mlssltsh 1,732,669 522.799 01,855 2.957,322 2,806,822 Total expoDdllurg on ralslhg funds, mi55ion and govemJnce 3,336,30B SZZ,799 01,855 4,SEO,962 4,088,760 Nèt Incomlng I loutgolngl resources 259,08B 152Z,7991 215,201 3,600 144,8491 1184.9571 Galns on r&valuaiion$ and dispos¥ls of propertyand Investments Inve5bnenl property NDn-IhVeStment prDpety Invesiments 11 10,302 10,302 161,364 1181,3e41 1S1,062 150,818 150,818 Trnnsfers betsveen funds 165,2001 122,B79 1169,D741 211,39S Ng1 IntrÈa8È9 I IdÈcreasesl In lunds 104,190 1399,92Ql 46,127 53.691 134,1411 Funds broughl lotward 924.399 1,151,336 196.551 71,904,186 74,176,472 74.210,613 Funds carrfed forward 1,028,589 751,416 242,678 71,957,U77 73,980.561 74.176,472 F0ran3tys￿ of 2024 St8iementol FInanc￿l Aciiwlles by fund gee nDte 22. The Mtes on pages 24 to44 fo￿￿ part of these finanoal statements. Paga 18 NORWICH CATHEDRAL CATHEDRAL STATEMENT OF FINANCIAL ACTIVITIES FOR ThE YEAR ENDED 31 MARCH 2025 Genèral Funds Dg81gnated Rostricted Endowment Funds Funds Funds Total 2025 Tot£1 2024 IntomÈ DoDaltons,18gacies and grants". Donat￿nS 602.674 5,383 38,631 12A,229 13Q,417 2.279,204 3,180.541 540299 1,142.973 5,383 180,817 124.229 139.718 2,434,478 4,Q27,596 852,916 4,5 178,657 99,512 129,923 2,119.213 3.384.721 - Granls Income from charitable acliwlles 142,183 9,301 155,274 847.057 IDcorne from property 3rbd investments Total income Raising lunds 1,300.266 1,300,266 1.206.300 Net Incomlng rnsources availab12 tor rnission 1.860,275 847,057 2.727,332 2,176.421 Expendlturo on misslon Ministry Cathedral and preuntt$ tspkeep Edu￿110￿ and outrea Other experbdilure 1695,6621 1692,6891 11a1,4481 29,71B 149.5211 1498,4071 1285,1981 1395,1691 18,4891 11,030,381) 1916,3241 11,Sg6,2651 11,493,187) 12Q6,8281 I172,￿8) 35,2841 14,7501 Totsl expenditure on mlsslon 1,599,518 569,569 1fj88,B561 2,857,843 2,617.753 Total Èxpendlture on ralsing funds, Tni5510￿ govemanck 2,899,784 589,569 1688,8561 4,158,2Qg 3,824.052 NÈE Intomltty I loutgtslngl resources 2UO,T57 1569,5891 158,201 1439,3321 Galns on revaluatlons and dl*posÈls of property and Investments InvBStmEnt property Non4weslmenl property Inve5knents TrAnsfers betsveen fijttds 165,2001 334,274 169,074 Net increases I Idecreasesl In funds 115.557 12352951 110,B731 I439,￿2) Funds b￿Jughtf0IWard 576.158 986,711 159,685 6&,069,323 69.791,877 70,221,209 Funds carrfed forward 691,715 7SI,416 148,812 68,069.323 69,￿1,266 69.791.877 The r￿)￿ on page$ 24 10 44 fom part of Ihese financial statements. Page 19 NORWICH CATHEDRAL CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025 Unrestrlcted FuDd5 Restrtcted Funds Endowment Totsl Fund8 Funds 2025 To￿1 Fund$ 2024 Notss Fixgd as8ot¥ InvÈstmÈnt assets Property InveSfft￿I5 49.754,B73 3,801.975 53.556,B4 9,754,873 4,130,345 53,885,218 49.754.873 4,025.127 53,780,000 328,370 328,370 Non Investment assets Propgrty Equ*menl and pLgnt 11 11 1B.314,4511 18,314,450 145.025 18,419,475 18,314,450 100.899 18,415,249 72,195 72,195 32,830 32,830 IB,314.450 Total flxed assets 400,565 32,83 71,871.298 72,304,693 72.195.349 CuvrÈnt Assets Stocks Debtors Cash al bank and in hand 12 13 73.552 184450 1,527,641 1,785,643 73,552 184,45D 1,824,06B 2,Q82,D7D 50.516 166.009 2,120.464 2,336.g89 209.848 209,e4 86.579 86,579 Ll8bllftlt8 du& wlthln onè yèar Creditors 14 406,2031 406,2Q3 355,8661 Net current assets 1,379,440 209,848 86.579 1,675,868 1,981,123 Tot&1 assets less current IlablThtle5 1.7BO,QQS 242,678 71,957,877 73.980,$61 74,17S,472 Netassets 1,780.ODS 242.678 71,957.877 73,9Jll,561 74,176,472 General Fund D£s￿nal￿ funds Restricted funds Martin Kaye Library Reslricled donalioTrs Flow￿[ Guibj Cholr Endowment Fund End0v￿8￿1 fund5 Rovalualltsn of prtspertl&s Olthr erLdGWrn8ntfund& 1,020,589 751.416 1,02a,565 751,416 924,399 1,151.226 32,830 115,981 2,fjQ2 91,lJ65 32,830 115,981 2,802 91,065 32,￿0 126.855 2,802 Y.064 56,238,022 15,719.855 56,238,022 15,719,855 56,238,022 15,666,164 1,780,005 242,678 71.957.877 73,98Q,56t 74,176,472 The fbianual statements were Bpproved bylhe Chapter on nd svJn n th￿[ b8hp Rdrtv 6JL. Th8 Very Reverend Dr Andrew Braddotk Dean of NoMryGh Lay Can rirnolhy Procter The rnles on page$ 24 to 44 form part of these financi81 slatemenls. Page 20 NORWICH CATHEDRAL CATHEDRAL BALANCE SHEET AS AT31 MARCH2025 Unrestrfctèd Funds Rèstrfctèd Funds Endowment Fund¥ Total FundA 2025 TotBI Funds 2024 Notes Flxed assets Inv?strn*nt assets Property Invesltnenls 49,754,873 49,754￿￿ 49.754,873 49,7Y,873 49.754,B75 49.754,875 Non investm￿￿1 888¢ts Pr¢peFty Equipm8nl and pL¥nl 18.314,450 18,314450 98,456 16,412, 16,314,450 94,019 18,408,469 65,626 65,626 32,830 32,830 18,314,450 Totalflxod •s¥&ts 65,628 32,830 68,069,323 68.167,781 68,163.344 CurroDt as5otÉ Stocks Debtots Cash al bank and in harKJ 12 13 273,096 1,469,639 1,742,735 273,096 1,SB5,621 1,8SB.717 231.432 1.725.810 1.957.242 115,982 115,982 Llabilltie8 dug wlthlrt one year Cffditors 14 385,232 385,232 1328.7091 Plet currqlit aAAÈts 1,377.503 115,9B2 ,493.485 I,628,￿3 Total turrent Ilablllties 1W,131 148.B12 6B,069,323 69,661.268 69,791,8TI Nètassets 1,443.131 148,812 68,069,322 69.661,2 69.791,877 Fund5 GtrrÉtsl Fund De5ignat8d Resin¢ted funds artin Kaye Library Reskncled don81ions Endowment fund Revaluat￿)rn ol propertieg oth$rend(￿mefiI fund5 691.715 751,41fj 691,715 751,416 ST6,158 986,711 32,831 115.981 32,831 115,901 32.830 126,855 56,238,022 56,Z38,022 11,831,301 56,238.022 1,443,131 148.812 68,069,323 69,661,266 69.791.877 The financiql statemen15 Were approved byth8 ChAplÈron fl1j￿2 and signed on thelr ithalf by.. Rd- 6AI The Very Reverend Or ArOrew Br￿dock Dean of NOn￿1¢h LayC8non Ti y Procter Th8 notes on pagtrs 24 10 44 fom part of these financial slat8menls. Page 21 NORWICH CATHEDRAL CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Mote Net cash loufflowl from operating actlvllles Ipage 231 11.750.gB31 11.731.0601 Investing aGtl¥ltloS 1.738,745 1.391.086 Financing actlvltl•$ 84,1561 156.7921 ID¢creasel In cash in the period 21 1296,396 1396,7661 Th8 nOt8s on pages 24 to 44 fom) part of these fin8nclal slalements. Page 22 NORWICH CATHEDRAL CONSOLIDATED CASH FLOW STATEMENT INFORMATION FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 RECONCILIATION OF NET OUTGOITrIG RESOLIRCES TO NET CASH OUTFLOW FROM OPERATING ACTMllES Net incoming resourcEs Less investment incotne Less income froffl propety investment8 Add property management Costs Add deprecialK)n and Ios5 on di54x)sal of fixed £s$ets De¢rea$è I Ilncreasel in d8blors Dacrease I IlnGrea$81 in stocks Incre888 I IDeGreasel in creditOf5 144.8491 1208.6321 12,357,573) 827.46 23,751 118.4411 123.0361 50,337 1184,gS71 1210.8281 12,030,973) 850,715 19.446 80,314 8,243 1263.0201 Net cash louttjowl from a￿￿¥1118S 11,750,983 1,731,060) RECONeiLJATION OF CASH FLOW TO MOVEMENT IN NET FUP4DS 21 DeGreaBe in cash in the period 1296,3961 1396,7661 Net funds a11 April 2024 2,120,464 2,517,230 Net funds al 31 hlarh 2025 1,824068 2.120,4S4 The notas on page5 24 10 44 form part ofthesa finandal statements. Pag8 23 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 1 PRINCIPAL ACCOUNfNG POLICIES The finanual ststements have been prepared in aCCA)rdan￿ the AcGounting and R8Wrting Regulations for Engllsh Anglican Cathedrdls. dated Oecetnber 2018, and the Flnancial Reportlno St8ndard 8pplicable in the UK IFRS 1021. Th8 Caih8dral meets the defIn￿lOn of a publlc benefit entity under FRS 102. These finan￿81 stolements Ere presented in sterlirvJ, whKth is the funGtianal c￿rrenCY of the Cathedral, and rounded to the neare51 pound. The financial slalemen15 are cA)nsolidated lo include Ihe finanGial stalernents of the Cathedral's subsldi?ry undertaking$ las detailed in note 151. al GOING CONCERN The c￿pIer has consider￿1 wh8lh8r the use of the golno con£&m basls of 8ttounling is appropriate. To do Ihis. they hav6 considered whether Ihere are any materi£l uncertainties as lo the Cathedral's abilty to continue as a 9Ding cancom. They have carried out this assessment for a per￿d of al least one year fraTn tha dale of approvEI of these finAncial sla18menls. They have concludea that U)ere are malerKo1 un¢ertoinlies Bbout the Cathedral¥ ability lo continue as a going COn￿r￿. bl FUND ACCOUNTING G8neral funds are Jnre$lricied fund$ whi¢h are availabie for use al the discretion of the Chapter in furthefance or tr general objectives of the Cathedral and have not been designated forany Olher purposes. DesvJnaled funds comprise uTrreslrictBd funds th81 have been sel aside by the Chspter for part￿lar purpD5es. The aim and use of each designated fund i5 set out in the note5 to the financial statements. ReslllGl8d funds 8re funds ihal 8re lo be used 8ttordance ￿ryth gpeufr restrictions imposed by donors, Qf vthich havp been raised by the C8thedral for parkncular purposes. The c051 of raising and administering SUGh fund5 ar8 chargad $gainsl the specific fund. The aim and use of eacth restricted fund is set out in the notes to the financial slalements. Endowment funds are held by the Cathedr81 and are Invested in the propety portfol￿. The Chaptsr, at th81r discrelknn, mayallcule the rental incorne frorn such inv8Stmentto the general purp0588 of the C3lhedr81. Further endowmenl funds 2re held wthin Nomiich Cathedral Choir Endowment Fund, a subsidi8ry. These funds 8re invested in perp81uity in listed inve51mefits. The Chaplar. ai Ihelr dl$¢reiion. may allocate any part of the unapplied lolal ralum lo the general purposes of the entity. namely for the provision, promotion and encouragement of music in I Cathedral Church of Notwch by the award in 8ach y8ar of a scholaT&hip ortschal8rships lo one or more of the Choristers. Invesltnenl income. g8lns and losses 8re albpAted lo the appropriote fund. Where amounts are payable on behaw of the Cathedral by third parbes, for exarnplè t￿ Church Commissioners. these are disdosed under both income and expendiwre in the ¢onsolidaled financial slalemenls. Page 24 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 cl INCOME l income indLFding leg8ryes are induded in the Statement of Financwl Activitie5 when the Cathedral is kgalty entslled to the Ino)m8 and IhB amount be quantified vAlh reasonable a￿￿racy. Income lax recoverable in rel&tion to investment incom8 1$ recognlsed al the time the investment incrjme is receivable. d) RESOURCES EXPENDED 18xp8ndiiure is accounted for on an accruaL5 basis and has been included undar 6xpens8 Galegori8s that aggregale all costs for allocation to acbvilies. Wherè CDSts cannot b8 direcdy attributed lo particukr activities they have been allocated on a basi5 con51slenl ￿ryth the use of the resources. el TANGIBLE FIXED ASSEfs AND DEPRECIATION Equlpmtsni. fixtur86 and machinery are stated al cost less accumulated deprÉdaison Ihereon. Prop8ty and asse15 under r￿Struction are $18ted 81 cost or valu8tlon. Oepretyation tangib￿ fixed asse15 is calculated lo ¥￿ile-Off the cotst less Bslimaled residual value over the expected Useful emnomic lives of tke assels ¢D￿Cerned. The princdpal annual rates used for this purp09e. which are wnsistenl th Ihtrs8 of the previou5 year. are.. Land and buikling5 Martin Kaye Library Office Equiprneni Fixtures and ffttings achinery not daprecSal6d not depreckgled 15% and 25% reducing b8L8nce,' 25% slr81ghl lin6 10PA straight Ilne 15% redurAng baL3nce Offic6 64ulpment and fixiure5 and fittings ￿sling £500 or mor8 ara Included in fixed ass81s in th8 year of purchase ar subject to depreciabon as seloul abDV8. Item5 costing le5S than WQ arewTitten off in the ye8rof pur¢ha8t. Inveslmenl properties ar8 included in th8 balance Sheet 81 their open markel value Isee note 8a} and are nol depradatsd. Proper￿eS used for Calhedr¥l purposes ar8 valued al existing use value. The Ch)pler consider that Ihese properties are ttbainlained In such B stgle of repair that the corrBtspondlng dBpr8cialion wouw not be material and Iher8fore is NJI charged. Wilhln properties used for Cathedrgl purpose5 Bre the ftefeclory and the Hosity whith are considered to be 5pecialised properties and for thich there Is no OP8n market value. These propertie5 are 51aled 81 depreciaiad plac6mBnl cost. No depreciation 1$ charged on Ihe assets in relation lo the Marbn K8ye Llbrary, the [na￿)rty of Ihese assets rA)n5iSt of )ok5 vthich are considered to be appreciabng asse15 and therefore il is nol approprigle to tlepree18te these. The Cathedral, it5 ancillqry buikyings and the Snvenlory ar8 Èxcluded froTn the balance sheet as cost infomi8tion Is not 8vail¥ble and conv8nllonal valuat￿n approaches would18ck sufficient r8ii8blllty. Page 25 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 n INVESTMENTS Inveslments are 8 form of basic financial inslrurnenl and are inillalty repjgnised at their IransaclK)n v81ue 8nd subsequ8nlty measured al their fair v8lu8 al Iha balttn￿ sheet dale using the closing quo16d market priL¥. The SIAtement of Fin8ncial Acllvi118s indudes the net gains and losses on r6valuation and di5POSA15 throughout ihe year. R&ali8ed gain5 and losses on inv¢sim8nts are calculated 35 the difference belween Sales proceeds and their DpeThing Carrying value or their purchase value if acquired subsequÈni lo the first day of Ihe fillancial year. Unrealls6d gains and 105ses are calculated as the ditference beiween the fair value al the year 6nd and their Garryinu ¥alue. Realised and unrea1158d inv85lmentgaiThs and bsses 8r$ ¢offtbined in the Slalemenl of Financial Aclivilies. The CalhEdral dDes not acquire pul options. derw8tlves or other complex financial insbuments. The main fom of finan¢lal risk faced by the Cathedral is Ih81 of vol8111ily In 8qu5ty markets and inve51menl markelg dJ6 10 der e￿￿OrniG conditions. the attitudes of Invaslors to irwestmenl risk. and chawes in senllmeni concerniry equities 3nd v￿thin particulèr sectOTS or subseGlors. gl DEBTORS Trade and other debtors are recognSsed at the Settlement 8mounl due aftar any Ir8d8 dlscounl offered. Prepayments are V81J8d 81 th8 amount prepaid nel ol any trade discounts due. h) CASH AT BANK AND IN HAND Cash al bank and cash in hand includes Cash and short term highty IKiuid inveslmants 8 shDrt maiurlty Df thre8 monlhs or les$ from the dai8 of acquisitM)n or opening of th8 deposit or siTnilar a￿Ount. 11 CREDITORS AND PROVISIONS Creditors and provk8lons are reGognised where the ¢8thedr¥l has a present oblvjalion resulting from 8 pesl event that ￿11 probably Tesull in the transfer of funds ￿ 8 thlrd paty and the amount to sellle Ihtr obligation tan b8 measured or trslimated reliably. Creditors and provisions a￿ normally recognised al their selllemenl amount after 811owng for any trBde discounls due. 11 PENSION SCHEME The Chapter of Nor¥rich Cathedral operalts a defined contribution pension scheme. Contribuiiofis are charged la Slalemenl of Fln2ncial Activities in the perh)d In respect of Ihay are payable. The Cathedr81 also conlribules to th8 Church of England Funded Pens￿￿ Sch8Tne (see note 191. kl sfocK Stocks are v8lued al Ihe kn)wer tsf cost and nel rea1isable value. Co81 is détermined on a fir51 in first out basis. Nal re81isab18 value repre58nts estimat￿ selling prlce less costs lo sell. Prov￿10ft i8 m8d6 for obsolets. sIow-tFK)ving ar damoged stock n&t realiSab￿ value is less than cost. Page 26 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 2 CRITICAL AeCOUNfNG JUDGEMEtrITS AND KEY SOURCES OF ESTIMATION UNCERTAINTY In pBparing the finanual stslemenls. Chapter makes 8 numb6r of judgements. e$titDal68 ènd assumptions about the r8cognilion afid measuretnenl of as5815. liabilities, income and expenditure. Chapter does 50 on a continuou5 evaluat￿n basis usiThJ histori￿] experience and prudent 6V81uallon of future ￿entS Ihai art believ￿ 10 be r8ason8bl& under the circuTnslances. In applwng Ihe Cathedral's accounting policies. the folkming are the judgements. estimates and 8ssumplions Ihal have the mDsl siynific3nl eff8cI on the recognition arbd rneasuremenl of assets, liabilities, inGomp and expendilure the financial 51alemenl5. Legacy In¢ome Chapler uses the income recognition uileria sel out above to determine il is appropriate lo recogni5e legaoy income in the fiThanu81 statements. This can involv6 applsdrwJ judgement ovar th8 probablllty of Ihe Incomé beSng received and its ability to be messured vAlh suffiuenl reli8bilty and. once recegnised. eslimalion of the monelaryvalue of trbe incotne. Allocatlom ofsupport ¢osts Chap18r uses an allocation Fnodel that requires bolh judg8ment and es1imalK)n over how support wsls ara split ecross various expenditure ¢8tegories. The model Is prSmarSly basad on estlinales of lime spent by ifidwldual ¥nembai$ of G￿rgY and staff across eaGh expenditure category, Depreciation of assets Chapter sels ils depre¢iallon rates for depredabl6 tsseis bas8d m Ihéir us￿ul lives. This reouir8s èstimation of the expected utility of the 85setS. sio¢k Chapter esllmales the net realisab￿ value of stock items tskirvJ into gccountthe most religble evKIen￿ available ot each reporting dale. The fvlure reBlisalion of these $￿k iletns may be aftecled by tnarket-driven changes that tnay r8du fu￿[8 s811ing pri￿s. Valuation ofproperty Ch8pter uses valuation lechnioue5 involvlng ludgemenl and eslltnallun lo debmine the falr value of the Cathedral's investment and non-inv8Stment properhes al each reporting dale. Estimates of fair values between independent r8valualion$ are batsEd on a combination of current market cx>nditions, changes in tenure arrangements and guidance from external Sour￿S. Chapter bases Ils as$umpllon$ on obseNable data as far as possible bul th15 Inay not always be aVal￿ble. In these G3ses Chapter use5 Ihe best informalM)n availab￿. Eslimaled fzir values may vary from the 8clual prices Ihatwould be achieved In a fulty arm's kngih commerclal sale Iransaclon al the r8portlng date. Reporting uncertalntyln the next reportlng perlod With respect lo Ihe Caihedral's nfrxt repDrkng period, the year ending 31 March 2025. the most significant areas of uncertointy that may ofteel the carrying val￿e of assels and liébilibe$ held by the Cathedral are markel4riven Gh3nges lo resid8nlk31 and commercial property valuation5 and the performance of uncerta￿￿ investmenl markets. Page 27 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 3 INCOME GenÈral Dgslgnated Resthcted Endowment Total Fund$ Funds Funds Funds 2025 Total 2024 Donatlons, *oacles and g¥atsts Congreg£lion£l collpctlDhS &nd glvirwJ Vlsltots bDxeS Donatlon$ Income from app8aL% and fund raiGing Tax recoverab￿ under GiftA Income from the Friend5 Toial donatlonA 80,755 54,757 306.148 80,75S 88,398 54,757 52,894 3,560 395,142 443,631 IDS,105 95.898 38,898 26,669 400.240 143,387 4560 1,074,857 860.875 B5,434 105,105 38.898 400,240 590.779 480.558 Legacies Total logacles 5,383 5,383 100 100 5,483 5,483 4.500 4.500 Church Commissioners. gYanL8 Olher revenue and capltslgtants (*vernm&nigran Totsi grants 13.247 25,4 139,307 22,395 152.$54 142.648 4B,263 78,009 39.115 1fj1,7DZ 200,817 220,657 Totsl donatlons, leoxleE andgraTrts 525,056 752,481 3.6611 1,281,197 1.088,032 Income from charftablB Facillty and other lee$ 124,229 12422 89,512 Totsi Incom& frotn charftablp actlvltles 124,229 124,229 99.512 Income from othertradlng acllv5tl&a Charges lo visitors Lettings of cathedral and othErbuibJiws Fundraiging even Gytssg inetsme of ¥hop, rofectory and other irading aGtivit￿S -shop - Refectory - other ir2dlng act￿l￿E$ 38,276 21,840 38,405 38.276 21,840 3B,405 33.939 20,805 36.074 311,Z01 108,877 16,582 311,201 268,688 108,877 93,1S4 25,883 23,791 9,301 Tot•1 In¢om• frorD vlhortrading actI￿tIeS 535.181 9,301 544,482 476.459 Income frorn property and Inv4sttn8nts Investment propèrty inttsme (note Sal Investments Inler8sI receivab 2,202,299 132,319 76,313 IS5,274 2,357,573 2.030.973 132.319 124.142 76.313 86.686 Total Incom& from property and IrtV88tsn8nt8 2.410,931 155,274 2,S66.205 2,241.801 Total Incomé 3,595,397 917.05 3,660 4,516,113 3,903,8D4 Page 28 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 4 RAISING FUNDS General Deslgnatsd Rdstrfctéd Endowm•nt Totsi Funds Funds Fund8 Funds 2025 To￿1 2024 NowKh Cathedral Entery)rEe5 Limited -shop - Refectory Refeeiory costs Investment prop8rtycosb Inol8 8a) Hostry ma￿elIng Support costs 206,997 102,761 30.122 827,460 175,596 1117.583 153.121 1,603.640 206,997 102,761 30.122 827.460 850,715 175,596 75.031 107,583 101,694 153,121 141,142 1,803,640 1,481,938 177,506 1D7.739 S EXPEF4DITURE ON MISSION GBnqr41 D8signatsd Restricted Endowment Total Fwnds Funds Funds Funds 2025 Total 2024 Mlhl$try Clergy stipends and working expense9 Clergy housiw (y￿ts Clergy support costs SeThices, music and congreg8tlDh31 costs Supwrt costs 101,007 44,148 44.270 $34,669 119,094 843,788 139,307 240,914 220,112 44,148 44,270 35.572 696,309 $59,364 119.094 1Dg,777 1,144,735 1,082,986 2,750 158,890 2,7SO 29a,197 ¢alh8dral and prgciDcls upkeep Major repairs and re51orabon Maintenance and inleFiL)rupkE6P Cathedral Insursnte Preoncts. security and gard8n6 upkeep Support costs 36,109 443,9SO 96.701 16,132 76,560 669,532 473,705 395.Z40 9,101 IT11 905,134 741,191 452,980 420.187 96,701 80,192 31,733 15,423 76,560 70,571 1,563,10e 1.327.564 f5.601 498,407 395,1fj9 Educatlon and aulrÈaeh Edutabonal Betr￿ilIeS Arthives and library Chatilable and other giwng Support costs 77,540 46.980 6,099 51.040 181,659 16,B91 8.489 102,92tI 46.9 6,099 51,040 207,039 74.841 44.912 6.400 47.047 173,200 1fj.B91 8,489 Otheroxpondlture Other items Gov8manGe Costs (note 71 18A2a 19,270 37,690 4,75 23,170 19,270 42,440 24,522 18.55D 43.072 4,750 Tot31 gxpBkdlturg on rn15slon 1,732,669 S22,798 701.855 2,957,322 2.605,822 Page 29 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 8 SUPPORT COSTS Support I￿￿t5 have been apportioned using headcounl per department a5 the basis. as detai￿d in the table below. 2025 Support osl 2024 Support tosts Dlrect CO8ts Direct costs Total ToLg1 Raising inistry Calhedraland precincts upkeep Education and outreach OthereXpendltu￿ ort mi$$k)n 1.45LI,519 1,025,641 1.486,548 155,999 42.uo 153,121 1,603,640 1.340,796 119,094 1,144,735 953,2Dg 76,560 1,563,108 1.256,993 51.040 207.039 126,153 42.440 43.072 141.142 1,481.938 109.777 1,D62.986 70.571 1,327.564 47,047 173,200 43.072 Total eipendilurs on tai6ing funds. miFAion and govaman 4 161147 399,814 560,961 3.720.223 368.537 4,D88.760 7 GOVERMANCE COSTS General Designatsd Resffictsd Endowment Total Fund5 Funds Funds Funds 2025 Total 2024 AudiL arhd aeeount&neylnots 181 19.270 19,27D 18,$50 Page 30 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 202S B NOTES TO TFIE STATEMENT OF FINANCIAL ACTIVITIES al Investrnent property iDcomelexpenditure and galnsAosses 2025 2024 Ren15 and dilapidahon income receIva￿e Insurance Costs Repairs and tnainlenanGe Archit¥t's fees Managing Agents. fo&s Est¥les Oopartm8ni Rates ead d8bts Legal and profesglonal 2.357.S73 2,030,973 56,976 286,298 15,900 83,651 340.747 8.982 IS,456 19.450 59.486 293,g63 13.6 80,497 365.638 8.982 27.46B 827,48Q 1,S30,113 1850,7151 1,180,258 Net Income Revaluallon ol inveslmeni prDrÈty IsÈtt noie 111 Total relum from inve51rnent propety 1,530.113 1,180,258 The CBlhedral owns a numtrEr of resldenlal Bnd commÈrdal pr￿)er￿È&, whith arÈ1Èi. The Inttsme from these has been detailed abDVe. In addiban the cathedial Dwns re5idqnlial propertw curr8nlly0ccupl￿ bycL8rral and layempbyees of the Calhedral. Page 31 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 9 FUNDS ￿n￿St￿ d Fu D•8lgnat8d Funds Th8se fund6 includ8 all provi4k)ns made bylhE Adminlststive Chaptsrfoi expenses lo be future years. Balance at 1 April 2024 Income Expenditure Transfers 31 March 2025 Ferry Lane Garag85 Chapter slaff hDUS¢S Shop Altei3lion5 GooaÉberryWalk Llghllng Refectory Equipmenl Fund Clos8 propBrty refurbishm8nts Mission P￿grImag9 ProieGt RefeclDry£nd Hostry Repalts Signage and Inlerpretalion Website Development Library Storage Development Fur Cathed￿1 Tables Organ resloratiDn Girf Chori4lers so[v￿8s Fund Eco Projects CalhBdral Spire 40.908 5,066 15,543 15,DDD 10,000 441,73B 22,535 1.977 38,553 3D.785 14,000 7,000 56,675 9,780 139,625 117,592 3,579 32,395 120.9071 15,0661 16.4421 20,DDI 115,0001 10,000 442.334 12,764 1,977 34,475 27.222 1166,9051 167,503 14,0781 13,5631 114,0001 16921 75,389 14,7BOI 1139,6251 171.7701 16,3081 (7￿25) 124,239 5,000 45,BZZ 3.579 24,U03 16.3921 13,5681 146.837 145,019 129t.8561 1.151,336 {522,7991 122,879 751,416 FeThy Lane Garages Dev8h)pmenl Costs for Feny Lane G¥rages tesidenlial GonverSk?n. Chapterstaff houses Funds have been des￿n£te￿ for works to Chaptsr house6 in The Ck)5e. Shop Alteratloths Tofund rfjloc8lvJD of the Cathedral Shop, Donat￿$ Desk and iDterpretalvJn inslalLIlK)ns. GooseberyWAlk Llghtlng Tofund uptsting of G{￿¢berryGarden lvjhti￿. Refectory Equlpment Fund To fund new assets for the Refa¢tory. Close property refurbishments Funds have b88n d8signaled for the redeeofatw)n and rgrKvabon of prowrbes within Th8 Cksse, in gnticipalion of 8 number of changes In lenanGy In th8 near fU￿re. Page 32 NORWCH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 9 FUNDS ICONTINUEDI Mlsslon Funds to SUPPDrt major MissvJn praiects. Pllgrimage Project A project 10 develop a pl￿rImage acrosg the D￿eSe orN0￿Ch. RelectoryaDd Hostry Ropairs Tofund mor8 major repai￿ lo the Hosty and Refectory buildiros. Slgnagè and Intary)retatlon To Ins￿41 néw Iniarpr&talKJn boards in the Calh8dral for use by ourM5itors. Webslte Development To fund eoniinuing updates to the C8thfjdr?I website. Llbrary Storag To provKle bespoke pIc￿re 51oraga in the Library. DÈvÈlopment Fund Funds ID support strategic pro1￿. Cathedral Tabtes To purthasè new tab￿ foru$e al ¥etvlces events in t1￿ Calhgdral. Organ rgstoratlon To rebuild and restore the Cathedral QroaTh. Glrl Chorfsters TD $upp)rt wards ty Gld CFvJti¥tets. Special Services Fund To funij major n8liDnal services. Eco Project To 5UPPOrtChapte￿5 reswnse lo the Church of England's CÈrbon Neutral Ptsllcy. athedral Splr• To fuDd phase Iwo repaits to the Splre. Oilapidytiorls Fund5 held to SUPPDrt property refurbi%hmenl5. Page 33 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 9 FUNDS ICONTINUEDI Reslricted Funds Balance at 1 April 2024 Balance at 31 March 20 Incoma Expèndtturo Tr$n8fgrn Rg8trictgd donations Caihedr£l repairs resloralv)n - Preacher5, Chanly - NoW￿h Cathedral Girfs Choir - Nomich CalhÈdral - Specnlc gifts - Sllpends - Choral stholar prDpety Glrl ChDrfslprs Pl￿rimage Project Tolal iostrlctod donattlins 400.240 1395,2401 71 15,lJOOI 8.800 7,967 76,716 S7,377 139,307 18,8001 17.559 6,462 78,429 21,331 16,190 77,115 166.9881 1139,3071 12.0571 120,1501 12.2991 16lla,8551 2,057 19,379 2,970 126.855 1,0SU 395 691,781 279 1,066 115.981 113.aOOI Martln Kayo Library DI￿pId￿lI0n5 NoTrvich Cathedral Flower Guild Norwich Cathedral Cholr End0¥￿ent Fund 32,830 32.830 155.274 1155.2741 2,802 34,064 196,551 2.802 91,065 242,678 7D,000 917,055 1701.8541 1169,074 CAthedral repalrs This lund represents malttr repaSr and resloralion work Gqrried Dut C￿ the fabrk of Cathedral. SUPPDrted by the Friends of Norwich Cathedral. Or9Èn restoratltsn This fund Include$ 8mDUDts r8cewed for the restoraliDn of c8lWr31 organ. Preachers. Charity The Great Hospi131 Preacher's Charity don8lts ￿0￿Y on an annual to promole Èducalbn81ty bas8d a￿l¥it1P5 al Ihe Cathedral. Atran5ferwa5 made to partwlyoftset cosls ofthe sch￿15 Offiw. Nonvlch Cathedral Glr15 Choir Iund Is used 10 5UPPOrt the aGtMlies of tha Calhedr8f$ Gld chori518￿. Norwich Cathedrdl Concerts This fund inGlude5 3mDunis recewed towards the operating C0515 of ca￿edro1 reLoted UTh￿$. SpBcific grfts This repres8Dts donation5 for specffic purposes. Thi5 tund reprosgn15 the contributions from the Churh C¢mmi¥sw)ners for rnembers of the Chaplerofthe Cathedral. ChorAI Scholar Pr4)Pé This fund represents 8 legacy rocewed lo ba us8d forlhe prDvi4lon of accomm￿31¥)￿ to the Choral SGhoPdrs. g FUNDS ICONTINUEDI Page 34 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACGOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Glrl Choristers Part of 'Th8y Shall Lauoh and Sing. the NCIM￿h Cath￿ra1 M￿S[cAppe&l. eat¥Ni$hiny a rtrvÈnuÈ fund to provlde mus lessons forourGirt Choristsrs. Pilgrimage Project A project lo devebp a Pl￿r￿a￿9 roLrtq 3cross th8 Diocese of NowGh. Martln Kaye Llbrary This r8presenls the lolal value of the dDnatiDn of the books. shÈKryng and Èqulpmenl r#ekved from IhÈ Anne French M8modal Centr& Trust during the year ended 31 March 2002. Funds re￿I￿e￿ to SUPPDrt pmK*rty¢futbishmBnls. Ettdowment Funds Balance at l Aprll 2024 Transfers & Expfittdlture ReValu&tlons Balance at 31 klatch 2025 IncomE Endowtnenl funds of N0rn4rych Calhedr Revaluation of propert Hostry and Refectory Project 681.026 Sf,238,L122 11,150,27S 68,069.323 681,026 56,?38,022 11,150,275 68.069,323 Endowment fund5 of NOrw￿h Cathèdral Choir Endowment Fur 3,B34,B63 71,904,186 3,660 3,660 sri,031 50.031 3,888,554 71.957.877 £681.028 of this Fund rBpresenls part of the endovlmenl of NO￿lCh Cathedral. largely arising from past property ￿les. may only be used for improvement or developm$ni of Chaptsr property. the consent of the Church cL￿rni&S1one[s. £58,238,022 represent$ the baLgn¢a ¢￿at*d bylhg revaluahon of propeFtyto vdues sel out in llole 11. Page 35 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 l(k EMPLOYEE COSTS 2025 Lay staff 2024 Lay staff Clergy Total Cleroy Total Wage5 and salaries 106,835 1.106.835 1,213,670 97.818 924.012 1.021.830 SDcL81 seDJrity costs 10,339 85,918 96,257 9,564 80,087 89.651 Pension costs 22,133 41,454 63,587 22,501 34,256 56.757 139,307 1.234,207 1,373,514 129,883 1,038,355 1,168,238 umber of employees He•d¢ount 2025 2024 Full tlme equlvalent 2025 2024 Ch8pler Administration Vergtrts and Intedor upkeep Music 14 13 Education Est818s D8partm8nt 13 10 io Shop snd restBur8nl H05ty Ctsmm8rclal and marketing 6f 55 4S 42 DuDng th8 year one 8mployee recewed remuner8lion. excludin9 emplaye¢s pension contribution5, overE60,ODO. Key management parsonnel Èra cOns￿er8d to be the Dean and other resldenliary members of the Chapter, and their Bggregale remuneration including SOCk81 securty and p8nsion Gosls was E170.613 12024 - £168.3641. FurthBt dBlall provided In no18 17. Page 36 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 11 FIXED ASSETS CONSOLIDATED Propertleg used for Cathedral Equipment flxtures and machln8ry Inve$ts*vnt PropÈrtleg Inartffin Kayts Library purposes Tvtsl COST I VALUATION Cosi¥t 1 April 2024 Valuabon a11 ApMI 2024 11,297,222 7.017.228 355.108 11,652,330 56,804,931 49,754,873 32,830 Tr3nsf8r beiween das5es Addityons at ttost Revalustion Disp05Als al cost 27.879 27,879 110,8251 110,8251 Al 21 March 2025 49 754.873 18 314 450 32.830 372.162 68.474 315 DEPRECIATION Al l Aptil 2024 287,04D 287,040 Charge forlhe yesr Diswjsals 22.468 22,468 19.5411 Al 31 ￿arth 2025 299 967 299 967 NET BOOK VALUE Al 31 March 2025 49 754,873 18,314,450 32,830 72.195 68.174 348 -cos1 Inel of d8prery8lionl -valuatson 11,297,222 7,017 228 72.195 11.369,417 56.804 931 49 754 873 32,830 Al 31 March 2024 49.754 873 18.314.450 32.83D 68 170.221 Page 37 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 11 FIXED ASSETS ICONTINUEDI ATHEDRAL ONLY Propertle¥ ustrd lor lorcalhedral Equlpment Ilxtures and machinery Investment Properties M•rtln Kaye Library purposes Totsl COSTIVALUATION C051 at 1 April 2024 Valuation al 1 April 2024 11,297,222 7,017,228 296.T15 11,599.997 56,804,931 49,754,873 32,830 TrBnsfer between classes Additions al cost Revaluation Dispo$aLg ai ¢081 25.312 25,312 110,4751 110,4751 At31 March 2025 49 754 873 18 314 450 311 612 68 413.765 DEPRECIATION At 1 April 2Q24 235.587 235.587 Charg8 for th6 s*8r Dlsposals 19.695 19,2961 19,695 19.2961 At 31 Marth 2025 245,986 245 986 NET BOOK VALUE At 31 Marth 2025 49.754,873 18.314.450 65.626 68 167 779 -USl Inel of depredelionl -valuatio 11.297.222 7.017.228 65,626 11.362,848 56 804.931 49 754.873 At 31 March 2024 49 754.873 18,314.450 32,830 61.188 68.163,341 ThB Chapter undertook a proSEGI to value it5 properties on a professional ba515 and thi5 valuation was undertaken by savi1￿. Chart8red SUP￿yDI5, who reported as a131 March 2021. This has been based on the Guidelines on Accounting and RBPOrtlng by Engllsh Angllcan Cathedrals. Followng luther inlorttbaknon provided by Saw115, th8 Chapter recogni5ed gn upward revaluabon in thè yèar end8d 31 March 2022 to r8nEGI mark81 mov8tnents and changps in tenure arrangements. Sawlls reported Ihal ¥S at 31 March 2025, no further movement wa5 r8quir8d. Further Infotrnalan on the us8 of the pro￿rty is shown in nots 8a, and of the Tnethod of valuallon and deprerAalion poltyin ole 18. NoNriGh C31h8dral is a Romanesqua buildiw, now aver 900 years old. For a full description of ( please refer lo the Cathedral guidebook. The contents of the Cathedral are various. comprisJng medieval paintings. communion plate, to)ks. both historicand ttK)dem, and other MIS￿lIaneOUS pretyous Ilem$. None of the gbove figur8s include a value for Cathedral IL£e￿. Page 38 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 11 FIXED ASSETS ICONTINUEDI INVESTMENTS Ll8t8d Investsnents VAUIATk)N Valuation a11 April 2024 4,025.127 754,646 1506.59)) 1142.8281 Dlsposala Revaluations V81u8Non 8131 Marth 2025 4.130.345 The above investmenLq 8ra he￿ by No￿¥1￿ Calh8dr31 Choir Erdowmenl Fund (see Dole 151. Thes8 are all listed Inveslmenls. Page 39 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 12 STOCK Group Cathèdral 2024 2025 2024 2Q25 Shop 73,552 73,552 50,516 50.516 13 DEBTORS Group Cathedral 2024 2025 2024 2025 TrBde debtors Due from Cathedi31 Enlerprises Limited Prepayrnenls and accwed income Olh6rdebtors 29,214 82.676 22,180 115,381 33,779 101,756 273,096 64,883 98.105 19,595 48,869 231.432 53N80 101,756 184,45G 19,595 63,738 166,009 14 CREDITORS Amounts falllng due within one yeaT Group Cathedfal 2024 2025 2024 202S Tr2de credltors OthBrtaxBS and SDual Security 196.643 1B.6fj3 125.667 6S,230 406,203 159.412 27.759 135.197 33.498 355,866 171,314 18,012 1Ufj.618 62,288 365,232 152.21È 27.194 117.844 31.453 328,709 Olhercreditors 15 SUBSIDIARY UNDERTAKINGS Norwlch Cathedral Enterprisas Llmited Thls company. whlth 1$ owned by Iho Chapl8r of Nor¥￿ch Cathedral. op8ratss the Shop and Ihe Ref￿￿. The day lo day managetDenl is rArried out by the Board ol Oiredois. Tha Dean, the Revd C8non Andrew 8ryanl, Robin Hall and M£ry Rudd arè DiteGtatS of thB BDard. The results for ihe CotnP3ny h8v$ been Consol￿￿10d with those ol Notwich Calhedral. as required by the Cathedrals Measure 2021. Transaction5 belween Norwich Calh&ral Enterprrse5 knrniled and Nor*dich Calhe(Sral are discknsed in note 17. Norwlch Cathedral Cholr Endowment Fund This trust fund, which ks also a registered charlty. was eslabllshed bylhe Chsplèr of Notwlch CElhèdral in 1986. 11 has ItA wn assets Income. frotn whiGh il CDnlributes towards th8 8ducalion Gosts of the Calhedral thorister6. The results for this trust fund have been consolidaled with those of Norb*ich C8lhedral as required by the Cathedrals Measure 2021. TransadiDnS beh*en NoAvlch Cathedral Cholr Endowmenl Fund and Cathadral ar8 disdosed in nDte 17. Page 40 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 16 RELATED ENTITIES Fri•Dd8 of Norwlch Cathadral Ith* FrfÈndsl Thi5 Is a separate aBSOC4alion. and a regk6tered GhaDty. which 16 not IhB Cont￿)1 DI the ChBpter. Dunng Ihe year, £400,24D12024-£142.3871 was received from the Fnends, this am￿nI has been Induded wlhin donatsoDs in nota 3. Notw4th Cathèdral Tru*t ThL4 B a Separate ￿al enbty. not controlled by the Dean and Chapter. One ¢1 its alms. hence Ihe related entity a5s1fic31IDn. Ls ID SUpPOrtChantab￿ purposes connected with the Cathedral and the Dean and Chapter. 17 RELATED PARTY TRANSACTIONS Durlw ihe year Ihe loLql èmoluments, including penslon coThtribuUon6, paid to the residenliary membets of The CIK4pler bylhe Church Commissionets orcKgpterv￿rS as louD￿." 2025 2024 The Very Revd DrAThdr￿￿ Braddock Tha RBvd CanDn AndrEW 8ry£nl The R8vd Dr Petgr Doll The Revd CarK)n Aldan Platt8n 54,979 42.218 37,9Z4 42,111 4g,ODS 40,6 38,482 40,1B7 The remunerdlk)n of, pensknn prowsK>n for, deriral memb8rs of th8 Chaptsr are paicl In sLcordance ¥￿th thÈ scaks laid ¥nnu81ty byihe Churth ¢¢mmisshinÈrs. the Archbishopg. CounpAI and the Church of England PensvJTrs BoaTd. During th8 y8&r thfi Chaptsr reimbursBd Èxpendhure In￿rred by its members ￿ relation to trav81 hoswtality CDsl¥ ol £6,45S {2024-ES,0731. Durfn9 the year the follo￿ng IraTh53ctions look pLace with Norwith Calheoral En18rpii685 Limited." 2025 2024 - Donslion of profits from NoTwich Cathedral EnletpDse5 Limited - In￿reSt charged to Norwich Cathedral Enteffjrises Limited on loan ba￿nCe -GDods Pu￿25ed fiom NO￿￿h Cathedral Enterprises Limi18d - prOV￿ed to Ntsmch Cathedral En￿rprfseS Limlted 121,636 95,352 334 681 415 17,91S During the year a don8th)n ole46.77012024'. £164,826) was made ID NoNch Cdlhedral Choir Endowmant Fund from Normch Cathedral. 18 AUDITOR'S REIAUNERATION 2025 024 Audit se￿CeS- all entities OlhBrsÈf4riteg-al ertbues 19,270 450 18,55D 19.27D Page 41 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 19 PENSION SCHEPAES A Group Personal Pen¥ion Plan operated by Sc01115h Widows is a¥8llablÈ to 811 ￿Y sraff employeè$ Th$ Doan and Chapterpjrrenlty conlribules 8% of gross annual salary ia stheThe. NoNryGh Trlhedral also participates Sn the Church of Eng￿nd Fund8d P8nsiOn6 SGheme for Btipendi3ry clergy, a deflned benefii pension scheme. This schfjme is adfflinislgred by the Church ofEngland Pensh)ns Bo2rd, whlch hO￿S the A$$8ts ol schetDes sgparalety from those of the Responsibl& Bodias. Each pÈrtklpatlng Re¥ponsible Body ￿ the Scheme pays ￿n[￿but￿)nS at a common cDnlribth￿Th aprdi8d lo s￿nable slip8nds. The scheme is r￿nSidered ID be a Mult￿eMp￿yttr sGhoffle as d&srrib8d ID SeclvJn 28 of FR8 102. This il is not posslble io attribute scheme's assets and Iiabihlies lo each specific ResponaiblÈ Btsdy. and this contribut￿nS are accounted for as If the scheme were a definèd conlDbulion scheme. The pensK>ns cosls charged lo the Stalernenl of Finanual Aeiivlt￿s In the y8ar are coDknbulions payabl8 toward5 beneffts and expenses ÈccfuBd Ih thai ypar 12025." £6.618, 2024-. £7.0681. plus the figure5 hiohlighied In IhB igble belc)w as bping rocryni5ed in the Staletnanl of Finanoa Activi1￿￿, gnring a total charge of E8.618 for 202512024. £7,D681. A valuation ol the Scheme Is cartiÈd oul once every threa year5. The most recent Scheme Valualk￿ CDmpleled was ¢ard& tsut at Ps 31 Oecetnber2021. The 2021 valuation revea￿￿ a suypltss of £560m, baged OD 48Strts Df £2.72(th and fundiDg largel of £2.160m, assessed usiw the follDwing assumpllons." An averag8 di%munt rate of 2.7% p.a.: RPI infpatlon tsf 3.6% p.a. 13nd pension increas85 con51sienl Wilh thisl., CPIH inflation in line wilh RPI less 0.8% pre 2030 moving to RPI ￿ryth no ans beiwe8n Year*￿8. The structure Df th¥ *h8m& is such that rf another RÈ8wnsible aody fails, N0￿ch Cathedral become rÈspcAISiblÈ for a shar8 of that RespDnslbk Bad￿S pens￿￿ liabilit￿. 2LI ANALYSIS OF CASH FLOWS FOR HEADINGS 2025 2D24 NEThED IN THE CASH FLOW STATeMENT vesting actiwtlgs Intsre$l received Inv851menl income R8ntsreceived nel of cosLq1see nots 8a) 76.313 13Z,319 f.530,113 86,686 124,142 1,180,258 Net cash inflow forlnvesling actNitios 1,738,745 1.391,086 Flhanclng actlvities Purchase of tangible fixed asssts Sale of tangible fixed assB15 PurchAse of fixBd asset investmen15 SalE of fixed ass81 Inv8slmenls 127.8791 13.6451 1754,6461 498.289 1700.3D31 647,156 N8t cash inflr)w I loutnowl for fononclng A¢llvlllo 28d,156 156,792 21 ANALYSIS OF CHANGES IN NET DE8T othet changes At 31 March 2r125 Ap￿1 2024 Cash flow Nel cash.. Cash bi bank and ID hand 2,120.464 1256,3961 1,024,068 Debt- Nel d8bt falliry due within one ￿ar Netfunds 2,120,464 296,3961 1.824,D68 Pagè 43 NORWICH CATHEDRAL NOTES TO THE CONSOLIDATED ACCOUNT5 FOR THEYEAR ENDED 31 MARCH 2025 22 ANALYSIS OF THE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 BY FUND TYPE Gvnèral Fund$ Deslgnated Funds Restricted Funds Endowment Furtds To¢al 2Q24 Notes Income Donations.18gaci8s and gr¥nl5'. Donallons - Legacies - Grants Income from ¢h8rf18ble 8¢tivilles Income from Oihertradiw activities Inth)me from property and invesimenls T¢)tAI Incorne 404Ag0 4.500 16,418 99,512 469,133 2,241,OD1 2,235.0Sd 90,000 263.074 103.311 060,875 4,SOO 220,657 99,512 476.459 2,241,801 3,903,104 204,239 7.326 g0.DDO 474,639 103,311 Raisiry 1,481,938) 11,481,938) Nèt Incoming resources avalLible for mission 1.753,915 90.000 474,639 103.311 2,421,B65 EMp&ndEture on mlsslon Ministry Calhedral and pretyn¢Lq upkeep Educabttn and outreach o￿ar expenditure 1790.6BDI 1611,9691 116B,8931 39,075 1266,7901 1173.3221 12.3771 777 11,062,986) 11,327,564) 1173,2001 43,072 1543,2731 11,9301 3,2201 Total expondiiurfj ort ml$8lon 1,609.617 553,9391 1443,2661 12,606,822) Totsl expeThditure on raising funds, mission and gOVerr￿nCe 3,091.555 553,9391 443,2661 4,088,760 Net In¢omlng I loutgolnol resources 144.298 1463,9391 31.373 103,311 1184,9571 Galns on revaluations and ￿￿poSal5 of prowrty and in¥6stmantA Inveslmenl propety NoTh-inveslm8nl property Inveslm8nls 20,34S 130,471 130,4Y1 150,B16 150,816 Transfers between funds 177.8041 125.000 47,196 Net increa868 1 Id&¢rea80s1 In luntts 66A94 1338,9391 115,8231 233,782 134,1411 Funds brOLtghl [On￿ard 837,560 1,490.275 212,374 71,670,404 74,2111,6f3 FurKls ¢&rrltrd forw•rd 904,054 1,151,336 196.551 71,904,186 74,176,472 Page 44