2023-12-31-accounts

Gloucester Cathedral The Cathedral Church of St Peter and the Holy and Indivisible Trinity, Gloucester Annual Report of the Dean and Chapter and Financial Statements for the year ended 31 December 2023 Registered with the Charity Commission number 1201309

Gloucester Cathedral Annual Reporl Of The Dean And Chapter And The FinancAal $18tements For The Year Ended 31 December 2023 CONTENTS Page Reference and Administrative Information Annual Report ol the Dean and Chapter Fin8n¢fjal Re¥Aew 16 Independent Auditorb RepNI 21 Consolbyated Slatem8nt of Finanaal Adfvilk85 Consolhjated Bel8nce Sheet Cath8dtal only Balan￿ Sheet 27 Consolioakd Cash Fbw Statement 28 ststempnt ofA¢cwnting Pdit*s 29 Noles to the CO￿8011d810d Finanoal Statements 35 Th8 followAng Infonn&tion does nol fmp8rt olllye st8tutory fin8nci&l slalomenls whth 8r& the sutyecl ofthe W of the ffndependent8u(btor. The LastTeTh Yesrs 55

GI0￿￿$ter Cathedrnl Reference and Administrative Information for Ihe ar efided 31 December 2023 AddiesE Qlthe Cath¢dral ¥nd Roglsterèd Office Chapteroffice. 12 College Green. GloucÉsterGLI 2LX Thè Charlty As required by Cathedrals Measure 2021, the Cathedral. formety a Charity by Act of Parfiarnenl. be¢èmÈ k charity regulated by Ihe Chanty Commission on 12 December 2022. As part olhai proce55, Ihe ch8rity name has been changed tr￿n.The Cathedral Church of Sl Peter and the lndivlslb￿ Trinrty, Gh)ucestsf' to"Gbuce$trr Caihedral.. The re9181e￿ ¢h8rHy nutnber of the Calhedral is 1201309. The Dean R￿h1 R$¥erend RobÈrt Springett. Bishop of Tewkesbury. acted as Interim Dpan of Glouce5terfrom Januory unts"l Apnl 2023. whpn Ihe Very Reverend Andrew Zihnl was In518lkd as Dean of Gloucester. Appt+5Med Reslgned Tho ResldenllaryC•nont Reverend Canon NikkiAthy RÈverend C8non Andrew Braddrtk Vener8ble Hllary Dawson Reverend Canon Rebecca Lbyd ICh8ncélkYl Revetend CBnon Dr Sandra Ml1181 Reverend Canon Richarf Mitthell (Precentorl Revertnd Canon Cra19 Hv￿ey-J￿es IPreceniorl January2023 March2023 lanuary2023 JBnuary2024 Tho L•y Canon$ Caron PeteT C8non J)hn Coatss CanoTr ma￿0￿ Da￿d Canon Treasurer Chri5toph8r DW¥4S Canon Jar MacEow8lkScclt CaTh)n Treasurer Paul MasDll Catv)n Morgaret Sheather I88nknr Non£XeGu￿fr Memberl lanuary2D23 lanvary2023 January2023 November2023 Nwember7023 ThB Chapt•rStaw•rd Theo Pl¥tt Jvne 2023 The Dean ICh8wI. Resittent18ry Csnons aFKILay C£nons tsts memb8rs of Ch8PteT Folft>wing the refvrementgfRevwEfid Canon Rich8rrl Mitchell. th6posiUon ofPrecenÈorw8s vac&nt from J8ny8ry 202310 thg appointfft6nl ofR8vprgnd Cwn crti Huxley-Jones in J8nu8ry 2024. The Acting ClJ8PtsrSlew8Fd w8s gppoinleGlinJ8nu8ry 2023 artd iotskup hjs tDle Pomisnenlly from June 2VI3. Dlrector of Mu61¢ Cenon Adiian ParNngion Flnance Audlt Conmnlttee Canon Treasurer Pad Mason (Chalr) C8non Treasurer Christopher Daws (Chairt Canon John Coqfes CINe Cdlkr Canon Ben Pree¢trSmi Damk9n 60Trib Scott N¢vember2D25 january2023 N¢vernber2023 nuary 2023 FObr￿ry2O28 DeiembÈr2Q23

Gloucester Cathedral Referer)ce MmSnSstratNe lnfomats.on for the ar end8d 31 De¢embeT 2023 Flnan¢e and AudltCommMe•- In attondancè: Re¥erend Canon Andrew BraddoBk Ilnterim ￿an) Penelope Brown IH8ad of Flnanco) Ison King ISeGretaryl Theo Plall Ichapler Slewardl Bight Reverend Robert SprlDEett IBishopotTewkesbJry. Inserlm Dèanl Very Reverend Andrew Zihni IDeanl ThDm8s P¢xtc IChkYFinwKe OffitErl january 2023 Decernber2023 lanuary2023 january 2023 Aplil 2023 Novernber 2023 Fabrk Adv160ryComtnltte• Dr Stephen Blake (Chairl NKk Cox VÈnerable Algn Jeer Laut8nce Keen OBE JesEiCa Monayhan Gerakline O'Fatrell-W8llum ProfessorArKSrww St￿Y Peter Webb Susan Hamli ton (SeGrelaryl Nomln•tlons Cornmliteo anrfft Margartt Sheather ICh8irl Canon Peter Cla can￿ John G¢)Btès Reverend Canon Andfvj Br8ddock Ilnlerirn t>eÈnl Very Reverend Andrew Zihni IDeanl J3nwry2023 Aprfl 2023 In 4ttendan¢e'. Theo Pk4tt (Chapter Stwardl Serbior Lfrailorshlpfeam Ifmm January 20231 Very Reverend Andrew Zihnl IDean and Chairl son￿ &eIasze￿ka (Head of D8vdopmeDII Penelwe Brown (Head of Finance) Lotro Gll8s (Head of vk5rtorE￿1leThC8I Reverend Canon RebKca Uoyd Ichancelltsr and Dlrettorof L￿rnIn@artd PArtknpatlonl Ellidh Mclntosh IHead DI Fabrfc and PrO￿rtY) Theo Platt (Chapter Slewardl Thomas Portth (Chief Finance Officer) Rev8rend Canon Craig Hux-Jones IC8rth Precent￿) 11 Jones (Head of Visitor Expene￿I Chloe Bri(Jen (Head of D6vdownenti Ap￿1 2023 January2023 January2023 Jantsary2023 2024 t¢ernber2023 January2023 January 2023 November2023 Januar¥ 2024 MaY2024 Septetnber2024

Gloucester Cathedral Refe￿nCe and Admini5tratfve Inforrnalion for the 8r ended 31 D8cember2023 Advisers Bankers Investment Advisry Soiidiors Avdilors eyor5 V8luers E$ts16 Agents IDsurErs Lloyds Bank plc, 19 Easlgate Street, Gloweslei. GL1 1NU CCLA. Senator H￿se, 85 Queen Victorfa Street. London, EC4V4ET IMIKgns SOl￿rtorS, 28 Impell81 Square. Cheiienham, GLSO 1RH 8￿222¢011 LLP. 13D Wotyj Street. London, EC2V SC Blulon KnDwle8. Otympus Fk)us8. Otympu5 Park, QUed9e￿y. Gk)uce$tsr. GL2 4NF Il¢1 V&Jeston and As$o¢kles, Upper VeThn￿g. Much Marcle. Ledbury, HR8 2NG Move Sale5 anrj Lettknos, 2 Longsmilh S￿et, GIoU￿$t￿r, GL12HH EcclesH51iBal InsuBnGe. Ben8f8Ct Fbuse, 200D Pior£erAvenNe, Gbucaster Bus¥ie56 Park, BroGkwDtth, GI￿¢￿ster GL3 4AW Antony F81th8m-King. Sl Anne's Gate. The Ck>se, Salisbury. SPI 2EB RKhard K Pthtrfss A5sociales, B￿mknw House, Bromh)w. Minster*. Shrewst￿ry, SY5 OEA Archllecl Archaeologist

Gloucester Cathedr31 Annual Re ort for the ear ended 31 December 2023 The Dean and Chapter presÈTLt their Annual Report and the audited Consolidated Fsnancial Statements forthe year ended 31 Detember 2023. The Dean's Introduction Having been Dean now for a year. It has been cncoura&￿n8 to reflect on so many sigt]s of renewal, transforn]ation and hope over the course of 2023 ar]d into 2024. Follomring the wonderful servIce OF Inftallaknon in April 2023, there wa% the joy￿[ senuce of thanks-gsving forthe Coronation aiid celebration of volunteers in the Cathedral and across the county and diocese. A tremendous'fhree Choirs Festival wasthe highlightof lastsummer, followed in theautu]nn bythe powerful Li9htEternal installati(Trn. which brought nearly 20,000 people tu the Cathedral. We then had the pleasure of welcoming thousands of people for worship. Concerts, and family activities over the course of Advent and Christm35. Both Cathedral Carol Services were ￿11 to caPa￿ty, with over a thousand people attending on each occaslon. It is a joy to see the retllrn of pre-pandemic attendan￿ nurnbers at our Cathedral services and the buoyant wbrancy this has brought to the Cathedral community. There h35 been a similarly posStSve beginning to 2024. The New Year saw the arrlwdl of the new Precentor, which now completes the Cathedral tearn aftersuch a long period of tran5jtion and vacancy. tastautumn, the Chaptèr held an excellent away.dayto explore how in this new Season of the Cathedral's life we might seek to achieve the goals ofdeepenlt)gthe communlty in worship and prayer,. securing the future of our busldings and finances; engaging with the city. county and diocese in social outreach and action.. and living out our tradition of Benedictine hospitality, together with our vlslon for the Cathedrdl In the next five, ten and fifty years. Our reflections included how we Tnight develop a plan fr)r the maintenance and renewal of the Tnany hlstoric buildings that form part ofthe Cathedral predncts and a blueprint for the Cathedrdl's mlsslon and ministry in the coming years. This process has already helped us understand better how we live'iT) tune with heaven and In touch with daily Ilfe, and to showthls forth In all that we do from day to day. I hope thatthe pages that follow will demonstrate how much there is that is excitin8 aboutthe life ofthe Cathedral. There are, nf course. also some challcnges to face, In common with cathedrals all over the country, notleast regarding longer-terrn financial sustainability. l am sure. however, thatweshall be able to rise to these challenges with confidence and to find a sustalnable way forward that Is missionally focused and financially informed. None of what we achieve at the Cathedral could happen without the support of an outstsnding team of Ch3Pter collea8ues. stsff members and volunteers, who do so much to SUSVdin thc life and witness of our wonderful Cathedral. My final word is therefore a heartfelt thanks for all ihey do to enable Gloucester Cathedral to be a place of worship, a place tsf hospitslity, and a place of welcome for everyone. The Very Revérend Andrew Zihni Dean of Gloucester

Gloucester Cathedral Annual Re ort- continued Vlsion, Purpose and Sts-ategic Priorities Our Vision,'to be in tune with heaven aDd in touch with daily life., is ambltious, butat its heart is a desire to be.. 'in tune with heaven,, through worship, prayer and service: and 'in touch wth daily Ilfe,, %0 that the Tnission and ministry we undertake in lesus. natne can rnake a real difference to the way in which people live their lives. Four strate￿C prlorStle5 underlSne this vision= l. To extend hospitslity,. 2. To deepen spirituality,. 3. To grow learning and parkncipatioll.. 4. To revitslise and sustain heritage. Governance and management The Cathedral was delighted to welcome a new Dean in 2023. The Very Reverend Andrew Zihni was installed as the 39th Dean of Gloucesteron Sunday 23 April 2023 having been appointcd in lanuary by His Majesty King Charles IIT. i'he Rev'd Craig Huxley-lones was also anntsunced as Canon Precentor & Dirertor of Congregational Development ID july, widi his instsllation tsking place In January 2024. The following key senlor staff appointments were also made within the year.. Eilidh Mclntosh as Head of Fabric & Property (April 2023).. Theo Platt as Chief Operating Officer ICOO)/Chapter Steward (lune 2023): Torn Portch as ChiefFlnance Officer (CFO) and Deputy COO (Novernber 2023). As such. much of Chapter and the Senior Leadership Team's ttme was spentrecrulting at]d preparing for the arrival of people in key senior r(Iles, as well as Cnsuring effective inductions were undertaken. Another significant piece of work was the est2bllshment of the fournew stratsgic prioritie5 setout in the scrtSon above. Chapter agreed these priorities at an away day in November and in 2024 a five-year strdtegic plan will be developed around them. Additional workstreams Included: development of a new annual buslness plan starting from 2024,. reviewing and updating key policie% and procedures,. continulng to embed the requirernents of the Cathedrnls Measure 2021 (having completed the pro￿$$ of becomfing a fully re￿'stered charity In December 2022). The Chapter Chapter 15 the body of trustees that directs and oversees administration of the affairs of the CathedraL and consists of the Dean, who ig thc Chair, all the Residentiary Canons and lay members. There are currently twelve members, including nine non-executive members. The COO also attends meetings (and serves as Secretaryj, along with the CFO/Deputy COO. One of the non-executive membeT5 is appoSnted by the Bsshop and is the Senior Non-Bxecutive Memberwho chairs Chapter in the remporary absence of the Dean. A lay member hold% office for three years but is eligible to serve for a further hvo terms of offitt. A lay member may be appointed as a Lay Canon on their appointment to Chapter or al aThy other time during their membership of Chapter.

Gloucester Cathedral Annual Re ort- continued New rnembers ofchapterreceive a comprehensive inductiOT) whtch Includes meeting with keymembers of staff, briefing on the operations ofthe Cathedral and a tourof the building, its precincts and propertles. They arc a150 encouraged to attend a Chapter training day course run by the Association of English Cathedral%. Chapter met on ten occaslons during the year. wlth papers for each rneeting circulated one week in advance by email. Decisions are taken at Chapter meetings. unless explicitly delegated to a specified person(s) or committee to take between meetings. The College olcanons The Cullege of Canons COTnprises the Dean of ihe Cathedral. every Bishop Suffi?gan, every full-time stipendiaryA5SiStant Bishop, every Canon and everyArchdeacon in the Diocese. While nota formal part of the governance structure, the College has an important role to play by acting as 2n]bassadors of the Cathedral to the Diocese, amba55adots of the DiL)cese to the Cathedral and as counsellors to the ]3ishop. The College rnettwice to discuss progress on key projects and thenloglcal Issues. Finance and Audlt Committee The Finance 2nd AudSt Committee advises the fjean and Chapter on all matters relating to the financial Position and perforniance of the Cathedral. As a matter of¢ourse it rcvlews the annual bud8eL periodic management accounts. annual finanaal statements, and the going concern status of the Cathedral. It also reviews and monitors arrangements with the external auditor5. the audlt process, and the annual maT]agement letter relating to Chapterfs responsihllities and those of the direttors of Gloucester CAthedral Enterprises Llmited It also overseef Chapterfs arrangements for the Cathedra]'s investments. properties. insurance, projects, capital spending and, when necessary. taxation. Itreiryewsthe Cathedral s rfisk register and monitors health and safety matters. The Committee met six times in the year. It is chalred bya member ofchapterbut Includes independentmembers appointed fortheirfinancial aa]men and expertise. The NomiDationsCommittee The Nominatiuns Committee was establlshed as part of the Cathedrals Measure 2021. Chaired by the Senior Non-Executive Memberof Chapter, the Commitlee conslsts ofttvo lay members of Chapterandthe Dean, ￿llth the COO acdng as Secretary. The Committee met six times in 2023 and focu5sed on the re¢rultJnent of the CFO and new Finance and Audit Cornmittee members, as wcll as suppordng the appolntment process for a new Canon Precentar. Presgure of rccruitrnent work and ensuring core governance elements were in place meant that work on the Cathedral Advisory B(ty wa5 deferred to 2024. Fabric Advlsory Committee The Fabric Advisory Cornmittee [FAC} advises the Dean and Chapter on all rnatters relating to the fabric of the Cathedral. An independent body, it has an external Chair gnd members apwinted based on their knowledge and expertise on heritage and hfistoric building-related matters, and provides expert advice and guidance on the physical protection, preseryatian and development of the Cathedral's bullding5, its fittings and contents and of its precinrts. The FAC has a statutory respoJ)5ibility to determine whether works proposed by Chapter which maierially affcrtthe architectural, archaeological, artisticand hSstoric chararterof rhe Cathedral. may proceed. The Committee'sadvbce is informed bythe Cathedral's ArchiteLt andArchaeologi5L who are both ex-officio members and retained as consultsnts. The Committee met on two occaslons during the year. There is also a Fabric Standing Committee ofnlne members. all but two of whom are from the Cathedral'5 staff, whSch met six time5 in the year. Senior Leadership Team (SLT) The Senior Leadership Team (SLT) consistin% of the Dean, Executive members of Chapter, COO and Deputy COO and Heads of Department rnet on a monthly ba5i5 to ovetsee delivery of the Cathedral's business plan and daily operation5 on behalf of Chapter.

Gloucester Cathedral Annual Re ort- continued Key Managenient Persoiinel The Chaptertonsidersthatthe key managementpersonnel ofthc Cathedral consist ufExecutive members of Chapter and the Senior Leadership Team. Safeguarding Safcguarding is a key priority in the lile of the Church, Chapter is committed to doing all that we ean to ensure tharihe Cathedral's communityoffersthe safestplace possible forchildren andvulnerablepeople. This applies to all children and vulnerable adults who visit the Cathedral or participate in worship and other missional, education. volunteerln& or outreach activities at the Cathedral. Chapter has a Service Level Agreement (SLA) with Gloucester Diocesan Board nf Ftnance (DBF) for the provision of Human Resources (HR) andsafe8uardlng advice and guidance., this links people issues, and, across Chapter, all levels of employment, volunteerin& 2nd office holders. including safer recruitment and training. It also ensures that sa(eguard5ng expectations and standards are consistent across the Cathedral and the wider dlocese. The SLA has been in place since 2015 and the Cathedral contributes financially to the DBF for the work undertaken. as outlined In the SLA. The Archdeacon ofGloucesteristhe Chapterlead on safeguarding. In additlon, a member ofthe cathedral congregation holds a role equivalent to a Parish Safeguarding Officer and link5 With the Diocesan Safeguarding Team (Dsf) as approprlate. The SLA inc(Jrporate5 adv1￿ andguidance on people issues,strategy. deliveryagainstaction plans, record managernent, trainin& and day-to-day opeT7tional issues,. it is reviewed and evaluated every three year5 and reviewed 2nd renewed annually by Chapter. In addition. the SIA 5uppofLS the Chapter in reviewing any lessons learnt from particularcase5. The Diocesan Directorof People and Safeguardlng oversee5 the s￿ and the Cathedral benefits dirertly fvom the DST on all casework, adki.ce and guidancc, learnlng and developmeDL and from the services of the parttime HR Adviser. Safeguarding is a standlng item on thc agenda of all Chapterand Senior Leadershlp TeaTn meetings and a report is issued a week sn advance by the Dlocesan Director for People. Pastoral and Safeguarding to apprise Ch8Pter of caseworL trainingi and to report against the Safeguardlng Acrlon Plan and other rnatte￿ arlstng from the Dloce5an SafeguardingAdvisory Panel (DSAP). At least annually, the Dirertor for People and Safeguarding attends a Chapter meeting for a Mryder discussfion and the SLA is reviewed. Chapter receives a regular saFeguarding and HR reporton activltle& This Ilnkfing of disciplines is key for the Cathedral where. for example, an issue relating to a member of staff. volunteer, or clergy. can be jointly overseen and supported through emplnyment provislons with ststutory andlor national church requirements. The Chapter continues to monitor the Social Care Institute for Excellence [SCIE) action plan, which followed the 2019 SCIE AudiL and liaises with ststyand departments for quality control. In spring 2024, the Cathedral participated in the INEQE independent Safeguarding Audit alongslde Gloucester Diocese, and Chapter will di5CUSS any considerations. opportunities or recomtnendations from this audTt process to help shape our fuNre acknvhties. Through the DST. and independently, the Cathedral has access to the Local Authority Deslgnated Offi￿r and to staiutory social care helpllne5 and other statutory bodies. as required.

Gloucester Cathedral Annual Re ort- continued As part of our people and Safeguarding workln 2023, Chapter.. approved the Safeguardlng Handbook (which includes $3feguarding policies and procedures).. endorsed safeguarding training across governance, staffand volunteers In Ilne wth the Church of England Safeguardin8 training framework- oversaw continued development ofsafeguarding actlVLties in line with our SCIE report.. ensured that 311 recruitmcnt of st3ff and Yolunleers was undertaken withln Safer Recruitment guidance wth clear references for all roles. and DBS checks carried out where roles meet that threshold- over5awthesubmission ofkeydocumentation to INEQE in preparation forthe 2024Safeguarding AudlL At a Natlonal Church level the SLA ensures that the Church of England's annual requ1￿MentS fordata are met In a ttmely fashion. Achievements and Performance Worship and Music The Cathedral's worshipping communities continue to flourish. SignSficant numbers were welcomed to Cathedral worship throughout the Christmas season, resulttng In the need to enhance provlston Sn 2024 with an incrca5ed number Of.sen￿ces. Congregation5 contfinue to grow across the board, most notably at the principal Sunday EucharisL Average attendance atthe Cathedral's prlnclpaiactofworship in the first three months of 2024 is up 37% on the previous year. We continue to live strcam the principal Sunday Eucharist and this has a steady and varied followlng. Mornlng Prayer on Sundays tskes place on Zoom and has a cornmitted community which values the supportof meTnbeis. MonthlyPrayers forPeace and justice also take place in the Cathedral and on Zoom. This h2s also attracced a faithful following. There were two very successful congregatitsnal nurture groups run through Lent and Eastertide. The choral provision remains srrnng. The boys. girls and t2y Clerks sing the usual round of services as well as at one-off and signlflcant occasions, alway5 Singing to a very high standard. Choral outreach continues with the Junior, Middle, and Youth Cholrs, all of which reTnain in a strong positiOlI. There are discusslons taking place at the time of writing as to how the Cathedral might extend slgnlflcantly it musical outreach prugramme. Events In a very busy year, the Cathedral was dellghted to facilitate and host many varied events in 2023. The wide range ofacivities saw the Cathedral engage in C0￿munIty-1ed events such as the KnifeAngel, which was with us for the entlre month ufFebruary and aimed to raise awareness of ￿7 aspects ofwolence. Atremendous Three ChoirsFestlvol, theworld's longest running classical music festival, was the highlight of the summer. 'fhe festival focllsed on innovation and had a very full progrdrnmc, includinbi new comm?ssionsand premiere perforniances. This was followed inthe autumn bythe powerful LlghtEternal Instsllation, which wbrantly showcased Gloucesterf5 rich hlstory and engaged with new audiences. The eventgarnered national press coverdge and brought In nearly 20.000 peopleto the Cathedral, generating a net prtsfit of£113,000. We rounded (Trff a busyyearbywelwrning thousands to our Cathedral Christmas Experience otNightevents. More than 4,600 tickets were sold across these evening5, generating £37080. A Christ-rnouse nativity trail a]so proved popular. Wlth more than 2,500 familie5 tsking part The Cathedral also facilitated external events such as the NAFAS (Notionol Associatton of Flower Arrangementsocieties) National Showwhich saw u.% welcome 7,000 visitors across two days. CloU￿ster Cathedral ha5 become a well-kn0M￿ filming location for prtsfesslonal fllm and TV crews over the years,

Gloucester Cathedral Annual Report- continued and 2023 was no exception. Two slgnlficant Show￿ used the Cathedral as a filming locats'on.. spy series 'Alex Riderfand thc BBC'sadaptati(In ofthe classlc adventure story'The Famou5 Five,. These contributed to the Cathedral's Income, securing £30,000 in fees. Thc 2023 events programme was a big team effort from both Cathedral staff and volunteers, In particular Light EterntJl. This was Gloucester Cathedral's first collabordtion with the Luxmurdlls Team and 3 Steep learning curve. A complex event to host, it required up to 25 volunteers and staff per night for 10 evenit]gs, who were involved in marsh311in& as well as aiding the flow of visltors, the numbers foTwhich grew significantly during the course of the event. Visitor Experience 2023 saw si&Inificant progress sn the visitor income generated, cornpared with 2022. Totxl visltor numbers to the Cathedral. ran￿ng fram touri5L% to event attendees and congregation Members at services, totalled 403,420. which was 2n increase of 19% frorn 2022. We gave 3 wam welcome to over 308,000 tuurist wsitors, an increase of 9% on the prevsous year. Visitor donations exceeded £464.000, 400/D rnore than was raised in 2022. This boosted the averdge dO[￿tiOn pervisitor from £1.18 to £1.43. Gift Aid added by visittsrs rosc from Il% in 2022 to 17% in 2023, an increase of 54%. Booked groups and public tours together gcnerated nearly £IOO,000. Significant increases of 76trA and 62% respectively compared to 2022. As part ofthe Cathedral's aim to attract new audiences. thc Visitor Experience team also led un a variety of famlly trails, such as the successfvl 5ummer'pÈcnic challenge, traiL which contributed greatty to the summer footfall, attracting over 5.000 families. 2023 saw sorne staffing changes in the teaTn. Including the recruitment of a Tlew Marketing and Communications Manager, as well as the creation of two new roles= Visltor Experience Assistant and Operations Assi513nt These appointments have made crucial contributions to the team. having various responsibilities in the running of the department across Visitor Experien￿, Marketing and Communications and Operations. Volunteers The total number of volunteers stsyed level in 2023 at around 375, with 38 new volunteers recruited. Volunteers contribuled 23.625 houts of their tirne over the course of the year. Partnership5 wirh both Gloucestsrshire College suppofftd learners and National Star College contSnue to be successful and beneficial to both sldes, with NSC students helping during the busy Light Eternal evening openlngs. 20 volunteers took3dvantage of sl8ht loss training session5 and gave us posltlve feedback In recognition of the fantastlc 5UPPOrt from our volunteers. Dean Andrew Introduced Afternoon Tea at The Deanery specifically for volunleers, with 105 attendlng over several dates. The Cathedral could T]ot funrtlon without our wonderful volunteers. and we are very grate￿1 ft>r their continued dedicdtion. Learning and Participation 2023 saw the new LearniTJg and Participation Team, under the leadeTshlp of the Canon Chancellor, mark some notable high-profile achievements while layEng the foundatfrons for longer-term projerts. We contlnued to focus on our four key social responsibility priorities of mental health and wellbein& young people, environmental sustsinahi1Sty, and holneless and vulnerable people as well as on our aspirations in education and heritsge. Communlty Engagement In January we welcomed to the Cathedral Professor Sir Chris Whity. who gave a lecture to mark the blcentenary of the death of Edward lenner. Professor Whitty reminded us all ofthe vitsl importance of lennerfs work and the many milllons ot'lives that vactination has saved and continues to save. He also travelled around schools in the Dlocese giving inspirational talk% to older students on careers in Science and medicine and opened our Science Fair, a day of family acdvlties. 10

Gloucester Cathedral Annual Re ort- continued For the whole rnonth of February. we hosted the Knife Angel on Colle8e Green, a sculpture designed to stimulate conversations around violent crime and kecping vne another safe on our streets and in our homes. As a partnership project involving 45 local organisations, the engagement with this project was extraordlnary, with around 140,000 people visiting the sculpture, significant media coverage, along with Increased footfall to the Cathedral (a 215% increase over February 20221 and also to loeal buslnesses. At the same time as the event hosted an art instsllation in the Lady Chapel called Lights OUL working in collaboratlon with organisations The Music Works and Squidsoup, who brought together young people affected by knife crirne. both perpetrators and irictims, to produce the Installation. Sixyuung people from the Lights Out project have recorded an album which was nomlnated for a Youth Music Award in the social action category. The album has been picked up by Idris Elba as part OF hls anti-zornbie knife campaign. This isjust one part of the Knife Angel IEgacy work that continued throughoutthe yearacross the aty. Other community engagement work durtng the year included our ongoing projertg in Walknng Rugby [403 attendees in 2023) and Wellbelng Gardening [692 attendeesin 2023), both of which offersupported positive activities, and the inception of a new 5cherne to offer AQA awards to people taking part in these nd other artivitie5 to increasc their LDnfidence, life skills and eTnployability. 296 certificates were awarded to 19 learners in Septernber. We began to work more closely with Adult Education fn Gloucestershire to offer a range of courses and activities for local people. with 191 learners in 2023. Our Breakfast Club supporting homeless and vulnerdble people saw an explosion in nun]bers through the year, fvorn an average of around 25 guests per session at the start of theyear to an average of around 40 by it5 end, demonstrating the sadly accelerating need for what it provides. We continue to work with local organisatlons on community art prolects and exhibSdons. An exhibition in the cloisters in July celebrated the 75th annsversary of the NHS with local storles and ilnages. The annual Threods exhibition focussing on loral textile history, in asSQCiatlon with the organisation Voice£ Glouccster. went ahead in the Lady Chapel and ambulatt>ry in September on the theme 'A Costume for GIouLester'. Thc costume itself was produced by local community organisations and is now In the Museum of Gloucester. The exhibition ruD was extended by popular demand. Education Offer Our School tours continued to be wpular in the first third of the year. In Aprtl, however. followlng the depanure of our Education Officer, the decision was taken to revlew the cducation funcuon to ensure sustainabilityintothe fv￿re. This meant a pause on guided school tours forthe rest of the yearwhile we worked on a new model and recruited a new Learning Otricer, who took up post in january 2024. We continued to fachlitate self-gulded tours from schools. In summer 2023 we also reviewed the familyactivities whlch we offerin the school holiday5 and devised a new and more inclusive way of doing thern. Monks, Medicine and Moyhem ran for the first time in the summer holidays, offering families and people ofall ages the chance to learn about the monastic history of Gloucestsr and its spirstuality through crafLS, activities and staged reenactments. Thi5 proved extremely popular and so we have run it twice since. with srnall changes. During the Christmas holidays we offered f3Tnily artivitie5 based on the Cathedral's theme tsf music, with carol singin& scratch natI￿ry plays, Victorian Christmas cards, and other crafts. with 350 thildren tdkn'ng parL We also provlded Christmas-themed artivSty pac[￿ to nearty 100 children living in migrant hostels ID the City. Library & Archiv The popular Cathedral Librnry Tour5 continued to be offered throughouttheyear [52 toujs reaching 918 people), and we also hosted our second course on understanding Ix)ok-bindings and how to work and care for them with J2 professionals benefitting Irom a two day course of CPD. Nearly 100 people Yisited a display of documents for Heritage Open Days in Sept¢mber, and an experiment to ler people come and See the library during some of ourlamilyactivities pn)ved very suc£es5ful, with 387 people got to see the libraryand find outa little moreaboutits hSstory. As well as running thesc events, thecathedral Archivisthas been supporting the Citycanon Sn herchairing of ourconnerted Ljvesadvisorypanel, which

Gloucester Cathedral Annual Re orL- continued began in the autumn and which draws together people fvorn differentbackgrounds across the City to look further into the hi%tory of the monuments in our Cathedral and our interpretation of them. Fabrlc, Property and Projects Chapter reviews and monirors fabric prioriknes. as set out in the Cathedral's Quinquennial Inspections, through the Fabric St2ndlngCotnmittee and via the Head of Fabricand Prupertywho jolned the Cathedral team Sn March 2023. Aspart ofthe fathedral's Measure. ourworks on the fabric¢ontinue tobe monitored by the Fabric Advisory Committee. The nextQuinquennial inspection ofthe Cathcdral buildingis due in 2024 and therefore in 2023 the Head of Fabricand property and the Cathedral Architect have worked together to identifyhow bestto capture, prioritise and implement the artSons that arise from the inspections. The malorfjty f)ffabric work5 undertaken in 2023 are the continuatiOT) of the conservation prvject to the North Nave that begun in 2022. The North Nave Conservation Project Due to a generous grant from the Julia and Hans Rauslng Trust, the North Nave and Cloister Restoration Projectwa5 able to make slgnificaniheadway. This work was initially split into three phases. with Phase I largely completed In 2022123, the bulkof the year was spent on the Phase 2 works which consisted of the dismaDtlSng of the ￿0st damaged areas of the North parapet, carwng a significant number of replacement stones and pinnacles, cleaning the stonework and fixlng the new stones into place. Unfornjnately, due ro delays in getting the scaffolding built and unsuitsble weather conditions, we were not able to complcte as much of the repointing and stone fLYing as was planned for the summer period. Instead the masons began workingahead on Stones requlred for Phase 3 with the intention that this will free up more time to complete the outdoor w(JJlts in 2024. Apprentice Stonemosons In August 2023, our two foundation degree stoneJnasonry apprentices graduated from their course- one went on to employment at Excter Cathedt71 and the other lo work with a successful fculptor in London. Our level 3 apprentsce successfully passed and began the foundation degree course in September,joined by two newly recruited apprentices in the workshop - one a150 undertaktng the foundation degree and the other beginning level 3. Conservationand restoration workcontinues to provide waluable on-slte experlence and learning for our apprentice stonemasons In addition to securing the longevlty of the craftsmanshlp that characterises Gloucester Cathedral. After the successful completion of a CIoi5ter restoration pllot, we were able to monitor the effectiveness of repairs and we are In the process of puttlng together a pro8ramme of conservatton workwhich is likely to commence in 2025. Property The newly fornied Prnperyworking Group met for the first time at the start of August 2023. The group comprises a Chapter represeDtative as thair. Head of Fabric and Propcrty. COO and three further members from outside the tsrgani5ation who have considerable experien￿ 3t]d experknse In property managementand developmenL The group was endorsed by Chapterwith the priTnaryaim of developing an effecLive strategy to maintain and develop the Cathedral's property portfolio and estate. In 2023. we Identified three key areas of focus.. CyLlical planned maintenance.. establishing a progralnme of regular work which will prevent further detersoratitjn of the buildings. This includes repaiTS to rtrtten window and door frames, clearinggutters and gullies and roof repair5. All gutter5 across the estate were clearcd out (many 12

Gloucester Cathedral Annual Re ort- continued forthe first time in years) and repairs to window and door frames took pla￿ on 14 Pitt Street, 7 Mlllers Green and I College Green which were t2using fimmediate problerns,. Matcrials and methods appropriate for heritage buildings.. the pressure to undertake works wlthin t5ght budget constraSnts over the years ha5 resulted in some unsympathetic repairs and inappropriate cholces of materlals. We have begun to address this by specifying more carefully the materials and method5 used in works as and when they are undertaken,. for example. using Ilme-based plaster and breathable paints which was implemented during necessary works at 17 College Green, 43 Millers Green and The Deanery; Legislative record keeping.. establishing new systems and proceves for undertaking and recording key maintenance t3sks. including such work as elertrical tcstin& alarm testing and boiler servicing. Net Zero As partof the Churthof England. Gloucestercathedral has cornrnitted to become carbon net 7Lm by 2030 and is represented on the Nel Zero Worlang Group led by the Diocese. To help move us toward5 the target a Cathedral Invironmental Sustainability Worklng Group is being established to shape the Cathedral's own roadmap to reachlng net zero carbon across our estate and our operations. A key area of workthathas already begun is utilising the existing EPCS (Ener&v Performance Certificate.s) that exist for all of our tenanted properties ro ￿eate a prioritised list of works which will help address those properties whlch are least energy efficient Development and Fundraising Z023 Saw our Development and Fundraising Team take important steps towards the delivery of our Developrnent Plan (launched in 2021). The Development Plan was designed to focus our efforts and prioritise three major capitsl prnjerts for delivery within the next derade.. the Organ ProjecL the Cloister Restoration and Projert pilgrim Phase 2.. Beacon of Hope. Collectively thuse projects will enable us to ensure that the Cathedral remains firnilyat the heart ofour comrnunity as a beacon ofhope forthe city, county and Diocese. Due to a generous grant from the Cathedrals Sustainabtlsry Fund ICSF) awarded in recognition of our ambitious plans. we also expanded the team and appointed a Senior Fundraising Officer. The previou5 Development Officer's position wa.s reshaped to fit organisational prioritles and became a CSF funded DevelopmentAssi.stant posL Combined with the existing Head of DevelopmenLtheteam was fullystsffed wlth three full-time post> Fundratsing actlvitie5 primarily focus on.. 8rants fvom trusts and foundations towards The North Nave and Cloister Restoration Project, learning and participation, and mu5lC.' individual giving from donors, including one-off and regular gifts.. orporate giving- a new fundraising area launched in December 2023- collections at serviees.. donations from Visito￿ on entryto the Cathedral. The tearn raised over £811,000 from trusts and foundations, individuals, and Icgacies, falling slightly short of the annual target of £886.000. This was mainly due to a high Icvel of reouired plannlng and preparation fur the launch of the In Tune campaign (see below) and the fart that the team was not ￿1]Y rtaffed until Septernber 2023. The Cathedral is a member of the Chartered Institute of Fundraising and strives for best practice in all fundraising actiiitses. adherlng to the Code of Fundraising Practice. In 2023 the Cathedral a150 becarne 13

Gloucester Cathedral Annual Re ort- continued registered with the Fundraising Regulator. All fundrai5iDg actlvltyes are undertaken with sensitivlty and respect and staff are trained to recognise vulnerdble people and art according]y. All stsff engw'ng in fundraising activlties have clear role descriptions and receive regular ts7iniT]& The Cathedral bclieves in a culture of 'generos1ty' recognising the contrhbutions indivlduals or vrganisations make, both financially and through the time they give. No fundraising complaints wert received durlng th¢ year. In Tune- The or￿￿￿ ondmusic Campoign After a period of careful planning involving our Music Department, Cathedral Chapter and the Development Eoard, a t'undraising camp2ign to raise the neccssary funds for the restoratiotl of ourorgan was launched in July 2023. It was reviscd fri)m the original plans outlined in the Developrnent Plan and expanded to cover the delivery (Jf musical education and rebranded as In Tune. In the periodfrom luly-December£225,500 was raised toward5the total targetof£3m. A promi5in¥ sthrt to a long-term Gimpaign ending in the Summer of 2026. A programme of engagcment and fundraising events, comblned with a comprehensive marketing and communications strategy were implemented to achieve further donatlons and a5515t with meeting an ambittous £lm targetset for the campaign in 2024. Statement on Public benefit As a Cathedral nf the Church of England and a registered charity. the Chapte￿S stattitory responsibility under the Cathedrdl's Measure 2021 is to be the seat of the Dlocesan Bsshop, a centre of worship and mission and a focus for the life and work of the Church of England the Diocese. In its work in the Cathedral and in the Diocese of Gloucester for the advancement ofrcligion, Chapier helps to promote the whole mission of the Church, pastoral. evangelistic, soclal and ecumenical. Publfic benefit provided bythe work of the Cathedral includes.. the availability of a faclllty for publlc wrjrship in the City of Gloucester and the County of GIoU￿stershLre,anda space forpastoral care, contemplation, and moral. spirfitual and Intellectual development., provlding daily services throughout the year which are open to all.. promoting Christian values to individuals gnd soclety as a whole., cariT]g foran internationallysignificant fabric includingthree Scheduled Anaentmonurnents and over 30 other lfisted struLtures,' providing free public access to the Cathedral.. nurturit]g the perforniance tsf liturgi(31 rnusffic as part of the daily seTvices- providing training oppornjnitics fnr herirage craftspeople. musicians and young people through the Cathedral's apprenticeship. internship and wurk experience schemes.. providing a musical education to young people through 5inglng in one of the Cathedral's chuirs., providing access for thousands of children to a building of major archStectural Importance through the progralnme ofeducational events and tours: operating a Breakfast Club, providing a cooked breakfast to homeless and vulnerable people every Thursday and Sunday throughout the year. h05ting weekly walking rugby sessions for the homeless and vulnerable in parthership with Gloucester Rugby Foundation 2nd Gloucester City Mlssion.. the use of solar panels on the roof of the Nave of the Cathedral to provide approxilnately 2S% of the buildlng's energy requirements; working with Gloucester City Council and GloucesLershSre County Council to rejuvenatethe c5ty'S public areas as an amen5ty fnr all; working with partners 5ncluding Gloucester Heritage Forum and Gloucester Culture Tru%t to put culture at the heart of Gloucester for ihe good of all and to deliver a compelllng arts programme in Gloucester, helping to inspire local audiences and boost the city's economy by bringing Internatinnally significant art and renowned artists to the citythrough exhibitions and the Three Cholrs Festival- 14

Gloucester Cathedral Annual Re ort- Lontinued raising awareness about loc31 and national charities by providing an events venue, lighting the tower in support of charitable causes and partnering in meaningful acttvlty and learning programmes. Risk MaiiaEement Chapter Tnonitors the major financial, strateglc and Ope￿tional risks and uncerta5T]tSes to which the Cathedral is exposed. Systems have been introduced for continuous assessmentof these risks and a rfsk re￿Ster3nd procedures for regular monStr)ring have been established to Tninimise and mitigate exposure tn rfisk A Risk Regisieris reviewed quarterly by the Senior Leadership Team and reports are made to the Finance and Audit Comrnittee twice a year and to fhapter annually. The princ5pal rlsk areas facfing the Cathedral are.. Strateglc Financial Governance Compliance Projerts Operational {Includlng people and fabrlc) Reputstional The items Mrith the hlghest rfsk ratin8 are.. The cathed￿l'S financial posltlon contfnues to suffer due to the lastJt)g Impact of the Covid-19 pandemic and subsequentcost-of.llving crisis and recesslon. The lack of reserves means there is a risk of having insufficient working trdpltal to operate. In response, Chapter has approved the terms of reference for a Financial Sustainability Review worklng group which will shape a fiv year financial recovery plan with the key oblective of establishing a sustsinable buslness model and re"grDwrfng reserves. Property continues to be a concern as we face the threat of decreased commerclal rental incorne and continued intteases in construction costs. The J)ew Head of Fabr5c and Property has begun the process of developing a Property Strategyto respond tt> these issues and ensure the porttolio is sustainable in the long-term. although it is recognised this will require S2Enificant IDvesimenL A fundraising strategy will be developed to achieve this. The Property Working Group supporL% this work 3J)d Tnet three times in the year. ALknowledgement and ThaDks We are extrernely fortunate to have a wIde network of generous supporters and volunteers who provlde fundingand timc to ensure thc Cathedral can dellver its ￿ission and mlnistry. In 2023, we are particularly grateful to the followfing fvnders for their invaluable 5UPPOrt.' The lulla and Hans Rausing Trust The Friends of Gloucester Cathedral The Cathedral Su5ts1nability Fund CHK Foundation Benefact Trust Garfield Weston Foundation Gloucestsr Diocesan Board of Finance 15

Gloucester Cathedral Financial Review for the ear ended 31 December 2023 Financlal revlew The Cathedral's excess of expendlture over income on the Generdl Fund in the year was £74,000, before investment and other gains (2022.. £489,000]- The overall net income was £514,000 compared to net expendiwre of£643,000 in 2022. There were galns nn the value of iiivestments of £103,000 (2022 losses.. £265.000) and other recognised losses totalling £115,000 (2022.. galns of £227,000), resulting in an overall increase in funds for the yearol£502,000 (2022 decrease.. £681,000]. Overdll funds at the end oftheyear sttsod at £21,356,000 (2022.. £20,854,000). Of the £21.356.000, £20.325.000 is contributed by two endowment lund5,' the Cathedral can use the income from the funds but cannot dispose of the assets of the funds. The amount of the overall funds is welcorne, but the Cathedral's overriding need is still for increased income on Its unrestricted General Fund to meet the cost of Its day-to-day operatSons. The General Fund has an accumulated surplus of just £49,000 [2022: £110,000) atthe end o(the year. which Is signlflcantly less than the reserves of £633,000 the Cathedral would like to hold under its reserves pollcies (see below), illustrating the flnancial pressures facing the Cathedral. Please see the going concern secknon of the statement of accounting polides for ￿riher inforni*lon. The Cathedrdl's restrirted funds continue to provide a vitsl contribution to fabric and rnusic costs. Chaprer is also grateful to the Friend5 Of Gloucester Cathedral, whlch supports Tnusical artiyllles and building projects which Might not othern￿lSe attract Interest frDm donors. The Cathedral's listed inve5tsnent holdings continue to increase in value and to provide a 53tisf2rtory level of income. Investments in the shares aDd other assets in the CBF Church of England Funds increased In value by £445,000 in the year. partially recoveThng from the drop in lue of £747,000 In the prioryear. The Beacoj) of Hope Appeal In the summer of 2020 Chapter launched an appeal. 'The Beacon of Hope., to rdise Elm. The appeal achieved its target 2nd a total of £1,007,000 was donated or pledged by 31 December 2020. The bulk of thls money was allocated to a deslgnated fund to provide supportto Cathedral operations during recovery from the pandemic Sn 2021 and 2022. £16.000 was available at the beginning of 2023 and wds fully utilised in theyear. Detalls of the designated fvnd are set out in note 12 to the financial statements. Alongside stabilising and then strengthening the unrestrlrted General Fund, the focus for 2024 will be the Muslc Development Plan, which includes rEfvrbishment of the organ and long-tem music sustainability. A Development Board has been establlshed to support the development team and the focus of their efforts will be to raise £3rn in the nextthree years to deliver the Musjc Development Plan. Vlsltor and other income sources are also under ongoing review. 16

Gloucester Cathedral Financial Review for the ar ended 31 December 2023 - continued Investment peT(orniance The Cathed]xl takes income from Its portfolios of investment property and other investments. predominantly Ilsted shares. The Cathedral manages its investsnent property and CCLA manages the other investments. All but one of the investment propertles are classified as endowment assets and the other investrnents are classified as endowment and restricted funds assets. As at 31 December 2023 these investment5 amounted to £5,530,000 (2022.. £5.176,000} and were in the following CBF Church ofEngland funds run by CCL4- 2023 £OOOs O 2022 £OOOs % Invesbnent Fund 3,374 61 UK Equity Fund iio Global Equity Income Fund 1,272 23 Property Fund 774 14 3.133 61 89 1,213 23 741 14 Total Income from all the investment property is credlted to the unrestricted Generdl Fund. Income from the other investments Is splSl, as appropriate, between the unrestrirted General Fund, restricted funds and the endowment fund5. Incotne from investment property in the period amounted to £856.000 [2022= £809,0001 and income from other investments amounted to £208.000 (2022.. £174,000). The average annual income iyeld on the investments managed by CCLA fortheyear ended 31 De￿rnber 2023 was 2.90h [2022.. 3.1%)- Investn)ent pollcy Chapter's investment policy relates to non-property investments. These are managed by CCLA in accordance with the policyset by the Ethical InvesrmentAdvisory Group {EIAGJ ofthe Church of Englan(L The long term investment objertive 15 to protect the real value of the Cathedral's endowed and other invested capital by reference to the Consumer Prices Index (CPI) and to produce real grnwth in net investment income arising therefrorn wthout undue risk and whilst followlng the guidance of the EIAG. The short term objective Is to achieve the long term objective without undue fluctuations yearbyyear in the income arising from investments. Real gr(>wth In net income is de5irdble every year, in Thlew of the Ilkely real gromth in the Cathedral's operating costs and the dll'ficulty of making up for any reductions in net income by raising funds from other 5f)urces. Itls recognised, however. that the nature of investments issuch that thi5 rnay nol alwa￿ be possible. Therefore, whil.%L IL is important that the artual growrh in net income achleved is measured against thls investment objective each year the prlorlty is to achleve the objective of real growth over the long terni. 17

Gloucester Cathedral Financial Review for the ar ended 31 December 2023- continued Pay and remunerJtion ofstaff The pay and remuneration of all staff at the Cathedral is based on agreed and published pay scale5. Increases in pay are applied annuallyin line with the start of the Cathedral's finanual year by reference to increases In the CPI over the previous twelve months. The Cathedral has structured its pay scales so that it meets its requirernent to pay a realistic Ilving wage to all it5 employees. Gloucester Cathedral Enterprises Limited Gloucester Carhedrdl Enterprises Limited [GCE) Is a wholly owned subsidiary of the Cathedral. The company operates the giftshop, and the refertory IThe Monk's Kitchen). In 2022, to comply with HMRC guidance on charity business activitics, the provislon of non-religious events, such as grdduation ceremonies, was moved to GCE, andthe costs of such provision were recharged to the company by the Cathedral. Reserves policlcs Notes 10 to 14 In the financial statements set out the rescrve5 w5thin the Cathedral's endowments and restrirted, designated and general fvnds. The Generdl Fund represents the Cathedral's unrestrlrted reserves. which are needed for efficicntand unintemjpted management of the Cathedral and to meet exceptional itÈms, such 3$ emergenry repairs to propertie& The Cathedral uses its restricted funds to financecerta5n elements of its day-tti-dayexpenditure, 5vch as work on the fabric of the Cathedrdl and musical activities. in so frdr as the expenditure Is covered byrestriction5 setbythe donors of the funds. Chapterconsiders thatan appropriate level for the General Fund is three rnonths, annual operatiT]g expenditure which. fortheyearended 31 Decembcr 2023. would be approximately £633,000. The balance on the Gene￿] Fund atthatdate is an accumulated surplus of £49.000 (2022.. £110,000) and there Ss a balance of £nil {2022.. £16,OOOJ on the designated fund. Property The accounting for and valuat6on of the Cathedral's properties are described in the Ststement of Accounting Policies. All the Cathedral's praperties were valued as at 31 December 2021 byJuliet Weston. an independent sumyor and valuer,. these values have been adjusted in each of 2022 aKd 2023 to Feflect the change in value per the local Nationwide 14ouse Price Index. As a resulL the Cathedral's propertles are now valued at£15,366,000 [2022.. £15,828.000). Cov5d-19 The impart of the pandemic on the Cathedral's financlal posltion was felt mainly in the reduction of certain income streams such as congregational giving, donations on entry to the Cathedral. facility fees and cotnmercial income through Thc Monk's Kitchen and the giftshop. In 2023 these income streams returned to theirpre-covid levels. Income from property and other investments was only mildly afferted, but there may be a future reductlon in property rentals as the longer- tsrni efferts of the pandemic take effett. In particular reduced demand for commercial property May require substantial changes to the use ofsome properties. 13

Gloucester Catbedral Financial Review for the ear ended 31 December 2023 - continued Plans for the future Post year-end developments The first portion of 2024 has brought with it several 5ignifLcant events A donation of £lm pledged fvom the Julia Rausing Trust towards the In Tune carnpaign. This means that after onty une year of th5s three year projert, half of the funds required have been raised. A general fund grantof £150,000 from the Friends of Gloucester Cathedral. The result c)f this15 that the budgeted1055 011 the generdl frund in 2024 is now projected t(J be a small surplus of £30,000. Transactionsw5th members ofchapter and otherconnerted persons There were no transactions between the Cathedrdland members of Chapterand otherconnected persons in the year except for the reiTnbursemenr of expenses and donations received discSosed in note 15 to the finandal statements. Detai15 of aLcommodation utilities costs paid for the Dean and Residentiary Canons are also Set out in nole 15. Statement of Chapter's responslbllltles Chapter [who are the trustees of the charity for the purpose5 of charity lawl are responslble for prepartng the annual reportand accounts in accordancewith applicablelawand Unlted Kingdom Accounting Standard5 (United Kingdom General]y Accepted Accounting PractSce). The law applicable to charities In England and Wales requlres Chapter to prepare accounts for eath financtal year which give a true aT)d frdlr vlew of the state of alFairs of the charity and of the income and expenditure ofthe charfty forthat perlod. In preparing these accounts, the Trustees are required to.. * selert suitable atcoundng policies and then apply them consistently: • observe the methods and prinaples in Accountlng and Reporting by Charities: Statement of Recommended Practice app15cable ro chaiiues preparing their accounts in accordance with thc Financial Reporting Standard applicable In the UK and Republlc of Ireland [FRS 102),. • make judgements and estimates that are reasonable and pruden(. • stxte Trthetherapplicable United Kingdorn Accounting Standards have been followed, subjert to any material departures disclnsed and explained in the accuunts., and * prepare the accounts on the gotng concern basis unless it Is Inappropriate to presume that the charitywill continue in operJtion. Chapter Is responsible for keepin8 proper accountin¥ ￿CordS that disclose with reasonable accurary at any titne the financial position of the charity and enable theln to ensure that the accoullts £omply with the ChaTities Act 2011, applicable Charity IAccounts and Reports) Regulauons and the pruvisions of the constitution. Chapter is also responsible for safeguarding the assets ofthe charity and hence for takn'ng rea50tLable steps for the prevention and detection of fraud and other irregularities. Chapter is responsible forthe maintenance and Integrlty of the chartry and financial inforrnation included on the charsty's website. ity"slation in the United Kingdom governing the prep3ratlon and dissem5nation of accounts may differ from legislation in other juri5dirtions. 19

Gloucester Cathedral Financial Review for the ear ended 31 December 2023 - continued Provision of Informatlon to audltors In so f3r as each rnember oFChapter is aware there is no relevant audit infomaknon of which the Cathedral's auditor is unaware and members of Chapter have taken all steps that they ought to have taken to make themselves aware ofany relevant audit inforniation and to establlsli thatthe audStors aware of that inforniation. FOR AND ON BEHALF OF CHAPTER The Dean Date.. 19 Septernber 2024 20

Gloucester Cathedral Inde endent auditorfs re ort for the arended 31 December 2023 Independent auditor's reportto the Chapterof Glouthster Cathedral Oplnton We have audlted the accounts of GloutestÈr Cathedra] {the 'pdrent Èntity'l and of its subsidiary Icollectively the'group.) fortheyearended 31 December 2023 whlch comprisethe consolidatedstatement orrinancial 2rtivities. the consolidated and pèrententitybalan¢eshetts.theconsolid8tedstatemen¢of cash flows. the prin¢ip21 atcoundng pollcies aJ]d the notes to the financial statetnents. The financial reporting fratnework that has been applled in thelr preparation Is applicable12w and United Kingdorn Accounting Standards, including binancial ReportsnE Srandard 102'The Finanaal RpportinB Stsndardapplicablelnthe UKand Republicof Ireland (United Kingdom GenerallyAcceptedAccounting Practice). In our opinion, theaccounts= vea true and fairviewofthe %tate of thegroup's and ofthe parenicharity's affairs as at31 DeLember 2023 and of thelr Incomeand expèllditure for the year thenended., have been properly prepared in aecord2nce with United Kingdom General]y Accepted Accoullting Practice.. and • have been prepared in 3£cordance with the requirements of the Lharities Art 2011. BasAs foropinion We cortdurted our audit in accordance w(th International StaDdards on Audidng IUK) IISAS (UK)) and applicable law. Our resportsibllities under those st2ndards are further des¢rlbed in the auditorfs responslbllities for the audit of the accounts section of our reporL We are independent of the group in accordancewlth the ethical requlrements thatare relevanttoourauditofthe accounLS in the UK,in¢ludlng the FRC'S fthical Standard. and wehavefulfilledour otherethical responsibilities in accord2ncewththe5e requiremertts.we believethattheauditevidencewe haveobtsinèdissuftldentandapproptlatetoprovide a basis for ouroplnlon. Materlal uncertalnty relating to goirtgcontern As indicated by Chapter are the trustees of the charlty) within their assessment of going coDcÈrn contained ￿thin the principal accounting policiesaccompanyng the financi81 st8teTnents. durlng theyear ended 31 December 2023, the Cathedral had Jncurred a defiot of £77,000 12022: E485.0001 on Its unrestricted general fund laftera]I recognlsedgains and losses,but before transfers between funds). After the utilisation of a £16,000 designated fut)d b213nce broughtforward, the Cathedral's Upr￿trIcted Eeneral fund5 decreased by £61,000 to a balancé of £49.000 at 31 December 2023. This falls short of the trr8et level of reserve5 as dèslred bythe Chapter and a5 referenced within the annual reportof £633,000. As further notÈd In the Chapter's assessment of8oin8 concern. follomring cash flow pressure5 in the llrst quarrer of 2024, the Cathedral has received a sigtsifjcant donation Friends OF Glouce5rer Cathedral of £150.000, *ufficient to cover the budgeted loss for the year ended 31 December 2024 in full. In addition. lurther measures to Increase income and ￿d￿te expenditure in future years are being Implemented. In Ilght of the aforementioned, and h3vffin8 reviewed the financial forecasts and five year bllsiness plan5. Chaptprhas 2 reasonableexpertation thatthecathedral hasadequateresources to cOntin￿￿)n operational existence fora perlod ofnotless than 12 monthsfrom the da￿OraPproVal vf this reporr.Forthese re350ns, Chapterhas elected to adoptthegoing concern basis ofactollntingin preparingthe5e financialstatements. 21

Gloucester Cathedral Inde ndent auditorfs re rt for the ear ended 31 December 2023- continued However, Chapter a¢knowledge5 and highlights the currÈnt economic ¢onditlons and economic outlook present signifitant fjnancial challenges and, given the currenr level of free rÈ%otves, there are material uncertainties which oyist thatThay castdoubtupon the Cathedral's ability to continue as a goingconcerD. Our Dpinion 15 not modified In respectof this matter. Tn auditing the financlal statements, we have concluded that Chapter's use of the golng concern b3sls of 3ccounting in the preparation of the financ5al ststerDents Is appropriate. Our resportsibilities and the responsjbllities of the rnernbers ofchapter respectto golng concern are descrlbed in the relevant5ections ofthe report Other information Chapter li.e. the trurteesj are responsible for the other inforniation. The other information comprises the InlortnatiDn included in the annual report and accounts, other than the 2ecounts and our auditorf8 report thereon. Our oplnlon on the accounts does not cover the other Informatiot) and we do not express any fom of assurdTLce conclusion thereon. In connectioD wlth ourauditoftheaccounts,ourresponsibilityis to readtheotherlnforrllation and, in doing so, considerwhètherthe otherlnformation Is. materially inconsistentwith the actounts or our knowledge obtained in the audit or otherwSse appear5 to be Tnaterially TDiSSt3ted. If we identify such material inconsistencies or apparent material misststements. we are rvquired to determine whether there is a material misstatementin theaccount5 ora m2terial mlsstatementnfthcotherinformation.11, based ojjthe workwe have performed, we conclude that there is a matpri81 misststement ofthis other informatlon, we are required to reportthatfact We have nothin8 to report In thls r￿ard. Matters whlch we are required ￿ report by exception We have nothing to report in respect of the followng matters relation to which the Charities Act 2011 requires us to re￿rtt0YOU If, in our oplnion.. the inforniation 8lven in the trustees, anDttal report is Snconsistont In any Inater￿1 respert with the accounts.. or sufficientaccounting TÈtords have DotbÈen kept by the parent charlty,. or Ihe parentcharity accounts are notln agreerDent with the accouniingrecords and rÈNrns', or we have not re￿Ived all the information and explanatiuns we require for our audlt ResponsibllltlesolChoPter(i.e. the uwstees) As explained more fullyin thestatcrnent of Chaptefs respon5ibilitie5 tontained wthin the annual reporL Chapter are responsible for the preparation of the accounts and for being 53tisfJed that they wve a t￿e and fair wew, and for such internal control as Chapter determines is necessary to enable the preparation ofa¢counts tharare free from matedal misstatement whetherdue to fraud orerror. In preparing the accounts, Chapter is responsible forassessing the group's andthe parent¢harlty'5 ability to continue a5 a go5ng contrTn. ¢tisclosin& as applicable, matters related to going concerrj and using the 22

Gloucester Cathedrnl Inde endeni auditor's re ort for the ear ended 31 December 2023 - continued going ¢on¢ern basls of accounting unless Chapter either intend to liquidatrthe group orthe parenttharlty orro cease operationb, or have no realistic alternative but to 50. AudStorf5 ￿sponsIbIlItIeS for the audit of tbe accounts Our vbjertives are 10 obtain reasonable assurance aboutwhether the accounts as a whole are free from Indterial missraiemenr whether due to frdud or error, and to issue all auditorfs report that includes our opinion. Reasonabloassurance is ahigh level ofa55ufdn¢e,butis nota guarantee th3t3n auditconducied in accordance with ISAS IU]Q wll always detert a material mi55tatemon¢when It exists. Misstatements can arise from fraud or error ai)d are considered material if, individually or in the aggregate, thoy could reasonablybe expecied to influence the economic decisions of users taken on the basis ofthese accounts. IrregulaFities. includln8 fraud, are instantes of nDn-compliance with law5 and regulation5. We dÈsSgn procedures in line with our responsibilities, outlinpd above, io detect material tni5Staternents in respectof irregularities. including Iraud. The Èxtent to which our procedures are capable of detecting irregularities, including fraud is dÈt311ed below. Our approach to identifjring and a55e5sinK the ris￿ of material mlsttatemeJJt in respett of Irregularities, including fraud and non-compliance wryth laws and regulations, wa5 a5 follow5.. the en82gement director ensured that the engageTnent tearp ¢ollertively had the appropriate competencc, capabilities and 5kn11s to Identify or recogntse non-compliance with applicable law5 and regulations,. we obtsined an understanding of tho legal and regulats)ryfrarnewvrks thatare applicableto the group and detennined thatthe mostsignif5cantfttdmeworkswhichare direttly relevanito specificassertions in the fSn2ncial statements are those that relate to Ihe reporting framework., and we understood how the parent entity is coynplyillg with those legal and regulatory frdmeworks by m21ong enquirie5 of Jnanagemeni and those responsible foi legal and compliance procedures. We corroborated our enquiries through our rcview of minute5 of Chapter and of Finance com￿]tte& meelings. We as5e55ed the susceptibility of the gmup's accounts to rnaterial mSsststemenr incjudtng obt2inln8 an undeT5tanding of how fraud mightoccur, by.. identifyingand assessing the design effecbveness of controls in place to preventand detett fraud,. ndersiaDdin8 how those Iharged with governantÈ ttsnsiderand address the poten￿al foroverride of Controls orother inappropriate influence over the financial reporting process", and assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the relewdnt accounts item to whlch they relate. To addressthe risk of fraud through management bias and override ofcontrols,we'. • perforffledan21ydc21 procedures to identify aThy unusJ81 or unexpected relationships- invÈsdg2tsd the rdtionale behind any slgnif)cantorunusual transactions identified,. reviewed journal entries to Identify unusual trallsa¢bons- and 23

Gloucester Cathedral Inde ndent audiroffs re ort for the ear ended 31 December 2023 - conttnued assessed whether judgements and assun)ptions made In determining the 2CCOUDtin8 estimates were Sndicative ofpotential bias. In response to the risk off irregularities and non-compliance with laws and regulations, we designed procedures which included, bur were not limited to.. agreeing accounts disclosures ts urtderlying supporting do¢umentation.' re3din8 the minutes ofchapter and of finance Committe¢ meetingsi and enquirinB of managernent and representatives from Chapter as to acttlal and potential liti8ation artd clalms. There are inherentlimitstions in our auditprocedures described abDve.The tnore removed thatlaw5 and regllladons are from fjnancial transactions. the less likely it is that w¢ would become aware of non- compliance. Auditing standards also limlt the audit procedures required to identify non-compliallce with laws and regulations to etLqUiry of the trustees and other management and the inspection of regulatory and le831 correspondence, if any. Materlal misstAtements thatarise due to fraud can be harderto dÈtrct than those thatarise fmm erroras they Tnay involve dÈllberate coneealment or Collusion. A further description of our responslbilities for the audit of the accounts Is IDcated ort the Finandal Reportingcouncil's website atwww.frc.org.uk/auditorsresponsibilities.This descriptiot) form5 partof our ouditorf% report Use ofour report ThL5 report Is made 501ely to thÈ charlty's trustees, 35 a body, In accordance with 5ecbon 144 of the Charities Act 2011 and with re8ulatioTrs made under secuon 154 of that Act. Our audit work has been uDdertaken so thatwe might st2te to therharity's tru.%tees those matt￿￿ we are requlred to state to the in an auditoWs reportand forno other purpose. To tlie fullestextent permitted bylaw.we do notaccÈptor ssurne responsibS1ity t() anyone other than the charity and the chadiy's trustee5 as a body, for our audtt work, for thi5 re￿rt or for the opinions we have formed. Buzzacott LLP StatutoryAuditor 130 Wood Street London EC2V 6DL 26 Septeniber 2024 Buzzacott LLP is eligible to aetas an auditor in ternis of Set￿On 1212 of the Companies A£t 2006 24

Gloucester Cathedral Financial Statements for the year ended 31 December 2023 onFalldit<dststrmentofMnBnrfi•lA(trltteS unrestr1rtÈd Fund5 Ilosn?￿d F￿d Notes 6EMr41 Fynd Restr1￿ Fwd5 Tots120 Toto12O22 ££￿5 £OU05 Incom¢ahdondwmentsfrDm'. 1.497 234 i.ln 278 170 1076 333 150 S17 47. Grants iTr1UP￿rt of 779 8gZ Income1r￿M jThV23lrnent5 L064 l497 2.￿2 35 405J Expenothtreon.. P•￿I￿lUndS 1.947 L773 1,524 409 585 355 424 45S 959 810 66 35 53 45 Eor4r•Si￿QTr TawlyndlWr2071 2.571 l571 932 291 Nol(ewpend￿rejllThtLVnèb0lor¢lletl￿s￿$I Iyln5w kn¥*5lrnEn15 (741 $41 47 514 1613J 1365J Wet lkx5esll8•lr￿QTrInvè1tn1￿ThtS 6x7 19081 lewdbluwellknifttlie ?27 otheT r¢¢￿￿Ed￿l￿1ll￿sJeSj ContributloNlr¢MD￿sl%Thpt￿dFVndtoGeryEr￿I Fund 16 2J,535 Tctilfvn￿brQU1htfllr￿1 iio 16 434 2D,294 2U.1$4 Toiillunds<arrfedforwptd 49 20325 2L356 25

Gloucester Cathedral Financial Statements for the ear ended 31 December 2023 Ur<shlrtEdFund¥ GrrtThlFur Tlltll12011 Fuhd F￿ndS Fund¥ £D(s 11.302 S5 Fr4ehp￿propertv g2 5A12 5J76 IL Frwbold prDFerty 241 3￿2] 42Jl Totwlflxd•MEt 391 20 CuN4Dt&Mls 24 OEbi¢ i 43 391 c•sh•tbpnkaf￿knhln 547 135 Crndlt¢T5 455 21161 IL36) 1559) c(￿li01 db￿￿t￿rahn￿￿￿J￿b￿fty 16) 16J 246 1￿l￿n￿Of￿cll￿E￿1 EndtswrntnifuRds Gin¢rBllur 5>66 5.OtrJ 341 661 PsttktdfrJhts. F4br 5a$ $31 J99 29 ProptrtYfev•tyiUOni•￿r¢¢'. liJ7 (YOn4rwESt￿rtykvVrty 242 I1.￿6 Ch *1

Gloucester Cathedral Financial Slalements for the ear ended 31 December 2023 FU￿￿1 £0( Fund¥ ODDS £u 11210 s￿22 iJ.642 5.5IQ sz J£ J6J Frathldp￿Qllty 242 57 io 21192 D•btJrJ 252 125SI 245 iJo¢i Wet¢LYfErtV•sbiirthii 2y59 NtlséuEBftEroN￿1I1r B31 IhLKiIsolthèCtr￿1 5.5EO 131 2D7 Musk 11.201 ILaD] liJ70 t42 Ckaptèr

Gloucester Cathedral Financial Statements for the ear ended 31 December 2023 (th-6(4klatod CishFkwSt•temeDt 202 Ca5hllowf((th¢perètlnia(lfvltbEs t(ashu5Ed 1hoptrlting￿t￿rt7eS 19251 C35hflow5fioth lThvestlw xtNitl R￿tSTIc￿￿e￿ )teieSt 1ndd1￿d￿7￿l Terewed Cts5tsof IfiYEslwacifvllie5 PUrtth&5e¢0￿Ulprne￿t0tydPJITht Salis￿l￿Ve$tMtfiI$ Puich?5eoflrvMslments 174 140ZI 89 410 Mort84eandllxedintEre#iDEn lep3￿￿￿￿tOLl￿￿sBan its} ntÈhicish4nd<wshequvnl¢nts lThthE rÈWE1￿peTL C•th•ndtsshe4uh￿1?￿￿Ittheb1È1￿ITrE0fthèrePOrri Il yu8 bnd¢4th e4ufv4kntsitth¢0ndofth¢￿PorIh PE￿￿ 9$ 291 k¢EtothE ton$4fidit•&ushfiowst4temerrt from0PErt￿nra(ttIIe5 llet1￿ornÉ1ol Ihe rEp(￿tingPen￿d DEprKAlknn Le55. kthmÈfTOmproptrtyindl￿WtEIrne￿ts Ath."propèrtymBnèKemenlc05ts. rnt•lcollÈtthThfrESaThd 514 44 19E31 I1￿64] 393 A03 Lè55'. n￿￿￿￿T￿l¢tI￿CtQIh0￿(èShdf1n¢d￿nfrt penyvnstheMeciedit5 19381 145 11401 EwpJsèllln(rea5EI indÈbtor5 (ieas (Jyi Loansfmrn eink pk iirn Tott¢￿¢14&bf￿[DShlttyan1 lthllknhand (2861 28

Gloucester Cathedral Notes to the consolidated financial 5tstements for the ear ended 31 December 2022 STATF.MENT OF ACCOUNTING POLICIES The principal accounting policies have been applied consistently in dealing with items which are considered material In relafjon to the Cathedral's financial statements and have remained unchanged from the previous accountinÉ period. Basis of preparation The accounts have been prepared in accoidance with the Ac¢Dunfjng and Reporhng Regulations for English AnglKan Cathedra15, dated December 2018, together with FRS 102 120191 as the applicable accounting standard and the 2019 version of the Ststement of Recommended Practice, Accounting ènd Reporbng by Charities (Charities SORP IFRS 10211. The Cathedral meets the definition of 3 public benefit entity under FR5 102. They have been prepared under the historical cost convention, as modified to include the ￿valUatiOn of investment5 and freehold property- The finanaal Statements are presented in pounds sterlin& whith is the functional currency of the Cathedial. The flgures are rounded to the nearest £i,(xJo. Golng Con￿1￿ The Cathedral incurred a deficit for the year of £77,CM)O on ts Genernl Fund after investment gains and105ses and all other recognised gains and1055e5. compared with a delicit of £489,000 for the prevlous year ended 31 December 2022. The deficit was p3rknally offset by d￿WIng £16.00012022.' £421,000) from the remainder of the balance brought forward in the unrestricted 8eacon of Hope designated Fund raised in 2020 durin8 the Covid-19 pandemic. Following this transfer, there was an actumulated surplus of £49,000 on the General Fund as at 31 December 2023 which falls s￿rt of the tarÉet level of reserves as deslred by the Chapter and as ieferenced within the annual report of £633,000. Chapter considers that the current economic condition5 and economic outlook present significant linantial challenges, including additional pressure on shtsrt term liquidity. Whi15t measures to intreèse income and reduce expenditure have been instituted, there are signiticant rSsks to future tinancial results and ￿sh flows. Given Ihe current level of free reserves and the now complete utilisation of the Beacon of Hope fund, Chapter 3cknowledge5 and highlight5 that the financial position creates additional financial risk and there are mBterial uncertainties that may cast doubt upon the Cathed￿1.5 ability to continue as a going concern. Since the end of the 2023 year, several fartors have led to a material change in the financial position of the Cathedral. Following cash flow pressures in the first quarter of 2024, the Friends of Gloucester Cathedral generously awarded a grant of £150.000 towards General Fuybd expenditure, which has transformed the budgeied General Fund deh.cit for 2024 of £120,000 into a small surplus. Additionally, in Juty, the Julia RausingTru5t made an incredibly significant donation of £lm towards the In Tune campaign. Whilst this doe5 not change the General Fund p05ititsn anticipated for 2024, it doe5 $18nilicantly reduce one of the largest risks faced by the Cathedral. As a re5uII. in the coming year there will be no requirement to fund any of the payments to the organ builders from the General Fund. After making enquiries and consldering the un￿rtaIntieS described above and in the Flnancial Review, Chapter has reviewed the financial forecasts and rollingfive-year business plans and has a reasonable expeaation that the Cathedral has adequate re50urees to conts'nue in operatfonal existence for 3 period of not les5 than 12 months from the date of approval of this report. For these reasorts, the going concern basis of accountin8 in preparing these financial statements has continued to be used. 29

Gloucester Cathedral Notes to the consolidated financia] statements- continued STATEMENT OFACCOUNTING POLICIES- continued Basls of consolldatlon The financial statemenls consolidate the results of the Cathedral and Its wholly owned subsidiary, Gloucester Cathedral Enterprise5 Limited IGCEI, which operates the Cathedwal gift shop. the Monk's Kitthen refettory and non-religious events within the Cathedral building and precincts. The Cathedral controls 100% of the voting rights of the share5 in GCE. For the year ended 31 December 2023 GCE'S turnover was £669.000 12022.. £518.0001 and the gift 3id distribution paid to the Cathedral was £Nil12022= £Nill. At 31 December 2023 GCE had assets of £lOI.O(X)12022.. £89,000). liabilitie5 of £133,00012022.. £182,￿0) and capit312nd accumulated losses of £32,00012022.. £92,￿01. The accounts for the period ended 31 December 2023 have been audited and there was no audit qua1rf6cation. Cridcal ac¢guntin8 estimates and area5 01 judgement Preparation of the financi315tatements requires the members of the Chapter to make slgnrf)cant judgements and estimates. The items in the linancial statemevbts where these judgements and estimates have been made Include., assessing the probabllity of receipt of le￿(¥ income and detèrmining the amount to be recognised as in¢ome In the account5 estimating the useful ecoTiomic life of tangible fixed a55ets for the purpow of determinin8 a depreciation charge asse5singlhe appropriateness of the assumpti¢Trns and methodology used in determiningthe fairvalue of investrneni and non-investment properf a5sessingthe need for any provision againstslow moving orobsolete stocl. assessingthe recoverability f outstanding debtors and the need for any provision for bad or doubtful debts 35sessingthe basis for the allocation ol sUPPOrt Costs estimating future income and expenditure flows and the basis for preparing the tinantial ststements. Income and endowments Income is recognised in the peiiod in which the Cathedral ha5 entitlementtothe income, the amountof Income can be measured reliably and it Is probable thatthe incorne will be received. Income comprises donations, legacies, grants. charges and fees arislng in the course of charitable activities, income from trading and fundraising a¢tivlfjes and investment incorne. Donation5 lincluding income from offertory and similar collections) are recognised when the Cathedral has confirmation of both the amount and the settlement date. When dtsnation5 are pledged but not received, the income 15 accrued for when the receipt is considered PTob3ble. In the event that a donation is subjeci to onditions that require a level of performance before the Cathedral is entitled tri the funds, the income is defer￿d and not recognised until either those conditions are fully met, or the fvltilment of those condTtions 15 wholly within the control of the Cathedral and it Is probable that those conditions will be fultilled within the reporting period. When a third party pay5 for goods or services on behalf of the Cathedral the cost 15 shown as both a donation and expenditure in the statement of tinancial activities. Similarly, donated 8ood5 3nd services are ￿lUed on an arm's Sength basis and shown as income and either capital or revenue expenditure as appropriate. No monetary value is placed on the services Provided by Cathed￿1 volunteers. Le8acie5 are intluded in the statemen1 of ftnanclal aclivities when the Cathedrnl is entitled to the legacy. the executors have established that there are sufficient surplu5 assets in the estate to pay the legacy and the fulfilment of 3ny conditions attached to the legacy is wholly within the control of the Cathedral. Entitlement is 30

Gloucester Cathedral Notes to t]ie consolidated financial statements- continued srATEMENI' OF ACCOUNTING POLICIES - continued tsken as the date of notiticètion from the executors. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be meÈ5ured reliably and the Cathedf31 has been notified ol the executor's intention to make 3 distribution. Where legacies have been notitied to the Cathedral butthe criteria for income recognition have not been met, then the leg8CV IS treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other th8n ￿sh or a financial a55et traded on a recognised stock exchange, recoBnition is subject to the value of the gift being reliably measurable with a dÈgree of reasonable accuracy. Grants from governmenl and other agencies, including the Heritage Lottery Fund, have been included when receivable. Income is deferred when the Cathedral has to fullil performance related condition5 before becoming en￿tled to it or where the donor or funder h35 5pecitied that the income is to be expended in a future accounting period. Income from chèoes and fees arising inthe coutse of charitable activitie5 is recognlsed as and whenihe related goods or servi￿5 are provided. Income generated from the activities of the tTading subsidiary comprises income from the Cathedral gift shop, the Monk's Kitchen. caterin8 and non-religious events such as the Christmas market. It is measured at the fair value of the consideration received or reTrivable, including discounts and rebates but excluding value added tax. Income from the rental of prope￿e5 is recognised when the income is re￿l￿ble under the lease terms, when the amount can be measured reliably and it is probable such income will be received. If the income 15 for a time period which straddles the year end then it is apportioned between h"nancial yea￿. All oiher income is credited to the statement of financi31 activities when the Cathedral becomes entitled to it, it 15 probable that it wll be recefved and it can be quantilied. Expenditure Expenditure is recogni5ed a5 soon as there is a legal or constructive obligation comrniffing the Cathedral to make 3 payment to a third party, it 15 probable that 3 transfer of economic benefits will be ￿qUired in settlement and the amount of the obligation can be fflea5uied reliably. All expenditure is accounted for on an accruals basis. Expenditure compri5e5 diTect costs and support costs. All eKpenses, including 5UPPOrt costs, are allocated or apporknoned to the applicable expenditure category. The classification between activities 15 as follows.. Expenditure on raising funds comprlses the costs incurred by the l￿dIng 5ub5idiary, investment property management costs. and the tosts of atttscdng voluntary income. They indude an apportionment for support and governance costs as shown in note 17. Expendlture on tharitablè 3thvllAes includes all costs associated with furtherrng the charitable purposes of the Cathedral through the provision of charitable activities. This is shown on the face of the Statement of Financlal Acti￿￿"e5 as expenditure on ministry, Cathedral 3nd precincts upkeep. education and outreach, and communlty and congregation. These costs are analy5ed further in note 2. They Include an apportionment for support and governance costs, as shown in note 17. Other expenditure comprises the costs of the legacy defined benefit pension scheme. whlch a￿ not apportioned to opernting expenditure, and a small amount of irretovernble Value Added Tax (VAT) 31

Gloucester Cathedral Notes th the consolidated financial ststements- continued STATEMENT OF ACCOUNTING POLICIES - continued which cannot reliably be attributed to operating expenditure or recovered via the Listed Places of Wtsrship ILPWI scheme. Except 35 noted above, all expenditure is stated inclusive of attributèble irrecoverable VAT le55 attributable LPW recovery. InvÈstments Investments are stated at market value and any CHpÉtsI appreciation or depreciation each year is adjusted through the Statement of Financial Activities. Freehold property Investment asset5- ffeehold property (for C*hedral usel are stated at fair value and are not depreciated. Capital appreciation or depretiatr'on on both categories of freehold property is adjusted each year through the Statement of Finantial Activitres and accumulated within the Property Rwdluation Reserve. The valuations at the balance sheet date are b35ed on assessments made in Aprll 2022 by Ms Juliet Wèston, an independent surveyor and valuer, adjusted for inflation at each of the last two year end dates based on the Nationwide House pr1￿ Index for the relevant postcode and period. At 31 December 2023 this amounted to o decrease of 2.92%12022.' upllft of 4.32%1. These valLt3tions do not include any value for the Cathedral building or its inventory. which are wnsldered to be herltage assets. Freehold property improvements Expenditure on Ireehold property improvements Is charged to the Gene￿1 Fund. Heritage assets Heritage 355ets include the Cathedral and its ancillary buildings and the items in the inventory prepared under Section 2411) of the Care of Cathedrals Measure 2011. No value has been attributed to these assets acqulred before l January 2019 because informatlon on their historical c05t is not available. Items donated slnce I January 2019 are shown a5 heritage a55ets unless there is insufficient infomiation available for a reliable estimate of the Wdlue of the assets. There were no herits8e assets donated in the year ended 31 December 2022. Equipment and plant Equipment and p13nt assets are capitallsed at C05t when their acquisition walue 15 greater than £500 and are stated at cost le55 depreciation. Depreciation is provided at rates calculated to wrlte down the cost less the estimated residual value of each asset by equal annual instalments over its expected useful life, as follows.. equipment- 25% straight line.. fixtures and fittings- IO% straight line. St¢xks Stocks arè ststed at the lower of c05t and net estimated 5ellin8 price. 32

Gloucester Cathedral NoiÈs io the consolidated financial 5tatements- coniinued STATEMENT OF ACCOUNTING POLICIES. continued Bas1¢ financial assets Basic financial assets, which include t￿de and other receivables and cash and bank balances, are measured initially at transaction price including transaction costs ènd are subsequently carried at amortised c05t using the effective interest rate rnethod unless the ar￿ngernent conskntutes a financing transaction. when the transaction is measured at the present value of the future receipts discounted at a market rate of interest. FÉnancial assets classlfied as receivable within one year are not amortised. Baslcfinanclal Ilabllltles B35ic financial liabilities. including creditQ15 and bank and other108n5 are recognised initially at transaction price unless the Br￿ngement constitutes a frnancing transaction, when the debt instrument is measured at the present value of the future payment5 discounied at a market rate of interest. Financi81 liabilities Elassified as payable within one year are riot amorbsed. Debt instruments are subsequently carrled at amorti5ed c05t. using the effective interest rate rnethod. Foi concessionary loans the Cathedral has opted to recognise 5Uth loans initially at the arnount received, with the carryingamoulltadjusted in subsequentyears to reflect repayments and any acerued interest and adjusted, if necessaryi for any impairment. Contributions to Penslon Funds The pension costs char8ed in the linanclal ststements represent the contribution5 P3Y3ble by the Cathedral during the year, together with the effects of any mtsvements on the defined benelit pension scheme liability. In accordance with FRS 102. Funds Endowment funds are the noTr-expendable permanent capit81 of the Cathedral. Income earned on the general endowment as5et5 is credited to the General Fund. Income eamed on Chori5ters' Endowrnent assets Is used towards the Cathedral's share of choristers. scholarship5 atThe King's School, Gloucester and accounted for as a restricted fund. Restricted fund5 and thelncome e3rned on them are to be used forthe purposes speafied by the donors. Their assets are accounted for separately from the Cathedtsl's tsther assets. General Funds are uniestricted and can be utili5ed at the discretion of the Chapter in furtheTrnce of the Cathedral'5 objects. Designated funds are unrestrlcted funds whlch have been set aside by the Chapterfor Specific purposes. Details of the funds, the movements on them in the accountin8 period and the balances at the end of it are set out in notes loto 14 to the linancial ststements. 33

Gloucester Cathedral Notes to the con501idated financial srdtetDents- continued STATEMENT OF ACCOUNTING POLICIES - continued The Frlends ol Gloucester Cathedral The Friends of Gloucester Cathedral is an independent, fund raising. chadtsble incorporated organisation. registration number 209246, whieh make5 grants to the Cathedral. The tsbjects of the Friend5 are to ensure the material well-being and to extend the spiritU31 influence of the Cathedral. In the furthernnce of these objects the Friends cooperales with Chapter in maintaining, conserving and improving the fabric. fittings, ornaments. furniture and monuments of and in the Cathedral and its precincts. supporting the religious and music81 standards of the Cathedral and offering voluntsry services to a5SlSt in the work of the Cathedral. Income received in the year by the Cathedrnl from the Frtends is shown wlthin donations in Note I to the linancial statements. The tinancial statements of the Frlends of Gloucester Cathedral are not consolidated within these financial statements but, under section 3.10.2 of the Accounting and Reportin8 Re8ulatiDns for English Anglican Cathedrals, a summary of its h"nancial position for the year ended 31 De￿mber 2023 and the eight pretedlng vears Iwhich were independently Èx8minedl, is set out in the table below. 2023 2022 2021 2020 2019 2018 2017 2016 2015 £OOOs £￿05 £000s £C4)Os £￿)05 £OCts £OC#)s £0￿5 £(XQs Income G￿ntS to the Cathedral Other resources expended Realised and unrealised gain51 Ilossesl Nei movement In funds for thÈ year 151 135 97 75 92 105 124 94 341 1551 11341 1761 1891 [2671 3151 1431 1381 13081 1261 1241 1211 1181 1251 1261 1261 1261 1261 1891 90 1461 98 1361 54 59 1171 11571 1211 128 12971 iio 1911 76 38 31 Gross a&%ets 738 737 810 736 927 866 912 823 Net assets 578 735 756 628 925 815 906 830 792 34

Gloucester Cathedral Notes lo the Con501idatsd Financial Ststernenls- continued Not& 1 Income and Endowments Untsstsleted Fund8 Gon•rAI DwSgnat•d R•strtct¢d Ehdtsmnem Fund F￿ndS F￿ndS Fynd eooos £QOOs £OOOs £OMs TO￿ 202a TOt•12022 £oc Oon4tlons and kgacitrs Congregation81 thiDn8 and giwng Donatlon8 Tax urthr GIttAk1 Incorne from the Fdena$ of GI0￿e￿I￿ Cathedfdl L8ga¢ie$ 89 495 F3 830 4$ 51 321 787 321 776 90 614 61 Tolel2ff22 35 GT8rt¥ ill sUP￿rt of mlsslon chU￿h Cotllmvdimers hBrgr8nt$ 42 234 273 Total 2023 254 278 J23 TolaN2￿2 323 Charges 8nd fee5 arlalnu iDthe ¢our¥• of mlgslon Fllcillyand other lees 170 17 F8clNtyAndothetfees 2022 7f Tradlng and fundralsiny Charges to Msitors In¢orne from the shop, refedL¥Y. a￿￿tieS 272 507 56 Total 2023 779 T(rf812022 OY9 InvesbnentB Incorne from In¥estrneTrt pro&rty Incorne I￿rn olhw inVEsfft0ts 856 856 172 174 Tot812023 892 172 Td812022 853 130 Income eam& on the 9enetal ILY)d Isa11￿%￿d 10 gener81 fund& Forble year ￿ded 31 Oecernter 3OTd. Ihl$ amounW10£3e,(¥)012Q2 £44.￿0).

Gloucester Cathedral Notes to th& Consolidated Finan¢kql Statements- ￿ntInUed Genernl Dpsiynated R•trt¢tsd EndovKhènt lats12023 Tor•12022 Fund FL￿d Funds Funds £0005 £OOOs £0005 Ralslng funds Costs of13cilitie3 lorvk8itors Costs ofshop, refthry erd other8¢tr￿1tyeS General matheiing costs CDsl¥ of aprE815 ar￿ (undrnI￿r Invesimenlpropety ¢J)sts Net defir& ￿ne111 Wn￿0￿ Itrterestcharge 454 574 46 385 526 120 340 402 674 105 376 344 47 331 14 Total 2023 1.524 409 1.947 Ttha12022 1,625 131 17 Minlstry Cl8rgy sllpend5 and ￿r￿a expen2e¥ C￿rgY housing costs c￿rgY tsUpp￿ cost5 Setvices and mwc 255 25S 107 263 85 319 Total 2023 424 909 TotaI2021 421 364 174 Cathethal and preclnth u￿eeP ￿￿elr5a￿d re8t(Thtion Project Pilyrtm Maintnance C$ihedral illsurÈr Precin¢t8. $eeurlty and garden upkeep cal￿d[aS ano we¢knct upkeep suppGrtC05tB 324 232 il 149 121 164 12 21 lot4 2023 365 810 719 Ttx&I 2022 421 Educ1￿ outreoch E<JGaI￿ThaI activrties Archives anrj I￿rary ehanlable and 43 28 31 26 T¢W 2023 71 Tolal 2022 Communlty and conprogaur Cc¥nmunity and ￿n9[80￿10n fjd 66 Tot¥ 2023 64 $8 T(40JW22

Gloucester Cathedral Notes to the Consolidated Financial Staternents- continued Not4 2 Ex ndttur•- corbtlthuèd UDrostsi¢ttd Funds fjonvral De91gnatrd Reslrfclod Endvhin•rrt Fund Fun Fu￿¥ Fund £uw$ twos £0005 £MOs TOtBI 2023 Toi*12011 othgr gxp8thdituro Suprort costs 3$ Total 2023 Js TolèI2022 43 The fAlhedral Is partigjty &xempt forVAT purpr￿. VAT recovery is calcuw uslrvjihe the ba￿￿r￿ s5Ftan fty tÈlhedrals And cmrchps UndeTthis syst￿. Ihe Cathedral has beEll toopera￿%￿l￿1n Band B.. 35% of most of its inwl VAT eannot be reCoV￿j agairtsi OLtytVAT Ir￿0verable VAT. less attdbJt¥ble reclalms und£r thg Lrsted Pl￿￿￿0f Worship Scheme, ha8 fully8llc¢ated to tho eXpe￿JrtWe anaysed 3bove. ConsDJitt8leéèrtdCéth8dr￿on 2023 2021 Band B adjLtslrnEnt ljherirrKoVw¥b￿ VAT 55 51 TfAal ￿￿￿￿era￿levAT Recoverythrouoh the Listed ￿8¢e$ ￿Wi]rShip Sthem& 1241 Nèt in¢ov•Yabl• VAT (fulty appoffj+Jnqd as abOYtI 43 32 37

Gloucester Cathedral Notes lo the Con$olid8led Finanual St8tements- conts.nued NBI fylro 1 losses on Inv•slments unreSth￿d Fut)d$ tsqnqTrl Deslgn4ted kntriGtsd Endowmènt Total 2023 fDt•12022 Fund Fund Fund# Fund$ £OOO¥ £0005 £ooos £0005 Jt1105sesl IgalD& on inyèstments Invesltneniassets- freehold proFety Invpsimeni as?e15- inv8%knenis 1334 436 13401 f747) Totsl 2023 99 Tota12022 ij 256 1)ts 4 Othpr r•co DIS￿ Blns Untsstrlcte un Ggn•r41 Do519fhkted ￿￿trt￿d End0V￿￿en1 Fun Fund Fun¢19 Fund¥ £￿05 £OOOs £OW5 £OW$ Total 2023 Toi•12022 othpr rKognls#d galn51110sses1 UNiallsed Ilosse51 I g$inson tsngbi le fixed Bssels- freehold property ActU3rial (losses) i ualn$on defined bpneht Ferfy S￿￿e5 11YS) 11221 Tothl 2023 Tol81 ￿22 S4 38

Gloucester Cathedral Notes to the Consolidated Financial Statements- continued 14ote 6 Flxed a860ts: rt ItweBtments e ant Unrn¥trf¢ted Funds G•nernl Deslpniited Retstrfctsd Endo%￿•￿1 Fund Fund Funds £0005 £0005 TDt•l 2123 Tolal 2022 £WOs £IW9 too Invèstment as6èt6'. Property- Fwhold corl￿NI31edertd Cal￿ra{0￿￿Y Al l J8nwry 2023 95 11.547 11.642 tl.f80 Rwalwllon in year 13371 13401 482 At31 D¢8mbof 202¥ 92 Invostment B$set$.' InveBtrnents Consolid8ieé 8fidCstldr81onty At 1 Janu8ry 2023 Irwease I I￿￿￿5&) In mETket vua of Investments SalÈs of Inve51men15 190 4,986 436 6.178 443 6.143 47) {4YO) At 31 DB¢4mb•r 2Q23 108 178 InveBtmerrtts ar?tiasBiTr￿ as follow and held wlth CCLA.. 514 3.955 781 172 614 470 3,652 106 COMM￿ra1a￿d [9$￿￿ty*1 prop Cash 781 172 108 6A22 Y70

Gloucester Cathedral Notes to the Consolidated Financial Strte￿￿nts- continued pknt• 6 Flxgd a68•ts: freehold imestmenl8, llnt. ¢onUnu iknrestrirted Funds De6lgnot•d Enaovrnenl Totsl 2B23 Toi812022 Fun Funds Funds O¥ Q008 OQOS Fuwj ODr Tanglb19 flxod assets-fvfjl￿1d prO￿￿ty Ifor¢8thèdMI ui•i ConsDlidatgd8ndcathed￿￿rtlY Al 1 January20 240 4.186 4.013 Revaluat1￿ in year f73 At 31 DÈ¢•mber 2023 242 064 Non.Inv•stm6nt PToperU•s Are held arxl ¥sed aBIoIIow•.' Fry Cathathal Cwgy and staN housing For the d￿t￿n centre For CainAdral tralnp a(hvibe 2.18$ 99 2.185 a186 99 242 242 186 The Inveslmert and norblThvp51merl propertieg vEre reval￿ as at 31 D￿ember2021 by IndetEndenl v8bJÈron the tsa￿90f ta vslue. Forlhe past twoyeats. thi4 vauation has been adjusted in linEMilhthe Natv)wioe house pr¢e per￿￿￿9& chang¥ lorlhe local postc￿e. This gmQUDtfd to a decrease of 2.9x4 in 2023 {2022." Lplrft of 4.32%). Unoerthghlst￿ts1 ¢AJSt baslsiThe properte5 uld have h8d 8 ¢8tyng valuÉ of£273,0(X)12022. £27J.000} E4uipment FH•nt C4)nsolidèledand c81￿dra10￿1Y At l January2D23 Addrtil￿5 328 21 27 357 At 31 tt¥¢•mbAr 2023 310 re¢l&t￿n At 1 Janu¥ry2023 Tr8n51er6 Chprge year P151 (ifj&) 138} (44J At31 Dfjcèmbor2023 263 16 N•t PookVRluF wt31 DBcèmbBr 2022 12 Net Bookvalue ai 31 DKqmbw 2023 57

Gloucester Cathedral Note$ to kne Consolidated Financial Ststern8nts- contlnued Note 8 Endovnnortt Funrf InYe5trnerrtS 2023 £DCXb 2022 £0005 Endowment Fund Iiivtstments Ctsnsojldalsé andCélh6drèlonly Gèn&YAI Endowmert Fund Tota1 Investhienis 892 Chorlsters Enthyfftnt Fund Totsl Investments 4.S30 4.180 T¥t•l etsdowment Fund Inve8tmErt¥ NotÈ7 ReBtrl¢ted FuTra Investh￿nts 2023 £OQOs 2022 £OOOs Rsstricted Fut)d lnv9gtrn￿DtS ConsolklatedandCath&dtsloNy Musl Grantsl t￿nati￿S- muslclnvtslmenls D1 Hwtrrt Reeve Fund ir￿estMen1$ 108 Toial R6stri¢ted Fund lThve•tments (all Mu81¢1 Ai

Gloucester Cathedral Notes to Ihe Consolidated Financial Stslernents- contlnL Not8 8 UnrestriGt9d Funds ￿1p￿ted R¢strfrd E￿¢S￿M￿nI Fund Funds £DQOS £OODS Tot412Q73 Tots12022 £ooos £OMs EODDS Consoithigd AmDunisfalling dUe￿I￿1n one Y￿r. Trade debtot5 (including rents rg￿vable> Lega￿85 reorvable Prepayments AccNed IrKtsMe Sundry deblLKS 74 74 814 154 250 69 120 175 814 152 250 20 23T 1,303 365 TotslG C8th&dral only Amounts l?IlifvJ due Dn•yeai." Tre detytors {1ndudlw r8nts receN8bl21 G￿￿(￿ster Cathèdr¥ Enlerpri5e$ Ltd LeyacIES recvablÈ PrepRymenis Acewed inc￿• sU￿ry dÈbtors 62 62 36 e14 614 155 250 120 f70 1S3 250 Total8 232 Interfur￿ ItemB Cgnsoffidatedend CfytlJBdral Interfund thbtors Irrt¢rfwd creriiiors Net Intertund balan¢•8 1.174 1.174 471 18 21 25 Intsrfwd ba￿nceS ar￿9 from time 10 i*nè and for Pr4mBl￿ reaso￿. aJset$ 8nd ligL4lthes of8ndOVfftèrt. res1ri¢t￿ and dewgngt9d fur￿$ 8rèheld ¥41hin genera fund, or another wthcted fu￿. asSetS￿d Ilablltties.

Gloucester Cathedral Notes lo the Consolid8ted FinancHI Stat8ments- continued Nots9 Crwlltor5 Unrest￿¢t¢d Fund9 General D•$lgnBt8d R4slthted EndoThon¢ FuTrJ Fund Funds Fund £OMs £0008 10005 Total 202? Tola12022 consol￿8£ed ATntyJntsfalllNJ due￿I￿1n onEyear. Tmde Credito Ac£rwls Sundry crethlor5 Loans UDyds Bankp 316 316 110 $7 174 130 18 Total 2023 18 501 350 C8lhedralonly Amr￿￿18 falliDy dL4thln oneygllr. A(truab Sundry credtors Loan5 from Lloyd$ Bank pk t24 57 18 18 Toial 2WA? 4$1 18 Amounts falllno d￿ fjfterone year Consol&lalBd Catipedr61 Loans frDrn Lltsyds B•r p Loan from 0￿¢8$¢ ofGIw9tgr 400 4C TQW 2023 136 836 AMOUt￿ fall due on the Irtyn Uoyd• Bfjnk ple #N1 th• L￿￿04• of Gloucgster as follw: wrthin one year Btrt¥een orE and yea betr￿en llnd five 5wrs In fwe years orThore 18 18 4rA) Totsi 2023 154 55¢ The iow¥ f￿M UDyds Bank picTriat&lOlhe renovationof MLnumènl Hw$e, ofihe calF￿draf5 wdowhent propertie5. and havets dÈmeThls. Of the total aTnounl ￿t$18nd1￿ at 31 D￿M￿r 20Z3. tS1,OOD 15 reFk9ya￿e by fflonlhly insipJment5 to April 2Q28. aDd ¢arri$s sn Inte￿1 rateof 5.69%. £104.000 is repardue by ffwlhly Inslallments toApril 2033and carrie5 an infere¥l raie of 4.15% bBge rate. Thp tnortwe b secured on Gburestsr Cath8dr81. The103n from the OiDre5e ofGlowesteris unwured and carr￿aTr interest raie ol O.S% In 2020 Di¢¢8s6 agreed to reschedule the lo ftygo the annL4qI rep8yffni instsimenb and to rnake the ban ryydble on 1 April 2028. On thls revised b251& thE 10t￿ amoum outsI￿￿Ing 18 re￿￿t￿ •btsvo in catwry Of'￿ five yearsor rnué.. 43

Gloucester Cathedral Notes to the Consolicsaled Financial Statemènts- continLd Note 10 EnrknwM￿FuThdI General Ch(lster4' £000 £000 Totsl 00 Consol￿￿1￿￿￿nd Cstrh8dralonly AI 1 JEnuary z023 901 4.180 5.Q81 Incorne Donatlon rec£iYed Olher rgcogrMsedlunr4cwiseo nei gglns.. other Investrnenls Totsl Incom• BS 350 86 412 498 Expenditurè Interest payable on s￿red I￿StrOM Lknyds Bank rAc At 31 Dectmtr 2023 973 General Fund at•d £(W$ Cathedrnl £OODs At 1 janu￿ 2025 146 Nel expen<thtUfe R¢cgnised10ss on defined benefit pwtsk)n fund Olher reccgnr&ed loss (71 171 Trdnsferfrom De5￿mat Fund 16 At 31 Dtc•mb•r 2023 49 13 Rewe5eThted by. General fundB Propuiy reval￿￿1￿￿ reswvs 12861 13481 335 At 31 O•¢emb•r 2023 13 Nrte 11 Do$1 nated F￿n B￿¢On of F4Jpg Apwl conS&￿&ted￿n0 CétMdr8lonty £or Al 1 JanuEry 2023 c0ntrfb￿10￿$ CTr)knbution lo Gortsrd Fund At 31 Decernb•r 2023 Beacon of Hrye AppealMg$ lau￿ed in 202D loprowde funds tosustain the Calheth81'$ operath)ns Ourlng the Covid-19 par￿eThiC 89 lono as wsslbletrere3ftÈr. £1.007,OOOw8$ raIS￿ and ChapterdlLxied en8,￿ to a desiwal* fund. The brought baLgn(% on Intfund or£16,0(Ki￿ fvlly ub118￿ Intr￿ finartdal Y￿ e￿Iry 31 ￿e￿￿bB[3o23.

Gloucester Cathedral Not6S to the Consolidated Fin8ncial Ststem8nts- continL Nfrte 13 RestsSctod Funds- In¢ome and en¢Jowmonts and ox endmuro BI￿nCe ot 1J￿￿ 2023 InrL4ne ExpgTrJ l#n¢e It 3f DecEm- b•r20 £OW¥ £00 Fabrtc Fabrk lorRepaI￿and RostorlCIl sionemasL)IS LadyCn2pei F(￿ Drtms Fu Nave lAb￿rts L(ThwerCollege Green andwai MetnuTtÈi BellRopes Nuth NÈve 2nd Clcdstw3 CaittedrJlProFth$ Fund 70 (Toi 43 71 12281 375 75 Toiai 19B 538 m￿1¢ Grant#Anddonal Ch￿St¢l￿ SLthLwthpFund HerthtREQ Ifororg2ni Chons Cholrtaur Fdmh Path ￿¢￿￿, knyinwnetrt$} 43 13 10 27 10 27 10 Ywth Chgir 0￿re4 Glrfg, chatrF￿d InTun8 mus￿ FL InTune OroÈn Fund 13 5T 27 138 Totsi 207 494 39 Other Th￿ec￿￿ Charly (AvÈrGdbl Arthfvègl Lbrary hur¢NCommtssknor& 8r8akfa5t C￿b Soci81 ReSp￿sibility SF2 Pro1￿ F￿rf KfirteAngei FU CWgystyBnth 81 io {831 (81 {401 {671 67 14 Tvtsl 326 303 fj4 Total re￿¢t¢d lund• 912 Thc Ir(otnB on restrbdfundu 01£1.910.W0I6 $r￿ unthe Stat$mBnl ol Finic*i AdvAlesAslncthTr• and end(wmtntg of £1,￿￿.0t￿$nd netgo1ns(￿ In¥estrnsntg01£7.OUQ.

Gloucester Cathedral Note$ to the consol￿ated Fin2ncial Statements- con)nuèd 13 Restrict￿ Funds- R¢Btri¢tsd F￿ndS 4nGorn4nd Endowm¢M¥ Incum• Irom FrfÈnds Fund Donauonè Lega¢l•s Total tOth)$ Fabrk Fah 401 d86 ychepel Bell Rows North N4Ve£￿ C8tredrÈlPm￿￿ Fund 375 376 TotsifAM¢ fuhdts Inc¢rn• 247 $5 7T OthBr towlsed 4fjns 1 11058•sion Inv•Btmpn ITWrn• from FrlBndJ In¥￿t￿Ont come Don9￿On5 TOt41 £oN$ Mug GraMsAndd[￿￿1lS Chorlstsrs. Sciiohrshlp Fund HorbErt RE4e (lor owanl ¢hDfLsieTS Yothh Cmlr c￿$, ChdrFund lThTun8 ￿￿5￿FUnd InTune CAyn Fvnd 22 12) 13 22 S8 57 19) Tot41 myi¢fufftds IrKom+ 172 494 Grnnts I 6UPPQrtof Don•￿0 from TOt41 ECW$ Othgr Fl(wef Gul Archlv•g1 Ubrary cnuich c0rrwnlss￿nerS Breakfast Club S(c4 RespDnsibll CSF 2 Pioiect Fund K￿￿e AngelPund 1421 123 65 67 14 Tow otherfunds IrKDnb 52 276 326 Incom•for r0¥trf¢ied Fabrfc £O(K Mu•1¢ Total £orKIs Donthms Incurnfrlm Frtènog Le9ec*s Grants In suppofl o1Th15sw)n lThveSbiierrt KKome 247 408 208 776 276 172 276 172 Tota ¥ZB

Gloucester Cathedral Notes lo the Consolidated Financial Ststements- continued Note 13 Restricted Fund8- R¢•til¢iod FundsQxpDndllur• ancE artd lThterfor Pkeep Fund Total r•pAlr4 and £LYJDs Fabrk Fabrk St0￿Ma£an l￿Y¢haP￿l NaveJAbbcls ￿0[ N(Kth NBvpand Ck4$lvs Cathedrdl Propertks Fund 12A 70 17 17 3DU )00 Yotsif4btk fL¥idB gxpendttu 424 324 4nd mwlc Totsls 202) £rms Musle Giants ChoTist8rs' SchDlaTshipFund Hprbert ft&¥e (lor￿￿) Ch￿￿e[s Yuuth crwji 20 InTuno Mu8lcFu InTune Fund T¢l•l mw1¢ fund ixp4mdftur• Cojtof &ppo1 4nd lUr￿TIl$1n9 ci•rgy 5￿p9￿￿% Communmy •nd Gowrty. tiDn SuppDrt ¢0 70111 Y+x>thlng expen8•S ÉOL £oc Qthfrr FI(wrG￿ Afcnfves Iubriry Church Commknslon Breeklagl C￿b S¢CialResp￿$bbllrnY CSF 2 Proje& Fynd KnrfeAngel Pwd CkrpystiPBnds 31 14 14 67 14 63 ¥2 303 Tvlpl exppndttuN from i•strktsdfurtd9 Fabde Othqr Totsl and In￿r upkeep SUPP￿ CQBt# Se[vi￿ CkrgySt*ends * W0￿[￿a expenses Convnunty an&cangrW AiDi reF41TS Ind T•slorthkni 424 311 324 324 Ttstsi $03 417

Gloucester Cathedral Notes to the Consolidai8d Financial statem￿ts- continued ilxè 14 Pyo Re¥aluaUOn R£serve Consolidal8dand C81ts8dr8100ty lnvestmpnl￿g1S'. Tanglblo flxed a5sets- Property freehold property 20Z3 2022 2023 2022 2(￿05 £ODOs tOOOs Al 1 Jenuary2023 11,370 10,e88 4.187 4,013 Re￿auall￿$ Inthe 482 I3￿) 174 Al 31 Dec4rnber2023 1ET Ofwhlth.. GeneralFvndsha General EndowmenlFundshafft 93 95 fl 275 70 242 35 250 Noto15 The averagenumterofpaKJ empbyee3￿0￿JngfwlhE C&thedrnl dumothe was.. NLTh￿r ofern￿Oyee& 2023 2022 Full time equ￿￿￿￿$ 202) Full Tlme Part Timè- Contracted hour5 Po¢4 em[4￿. rK)COntr&X￿ h￿[S 42 33 34 42 13 J3 82 53

Gloucester Cathedral Notes to th& Consolidated Financial Ststemenls- conts.nued Notè Stsff ¢osts-conlln￿l Total emc4umpn15 induding ports1￿ untrftrArt1￿s fLrlbe abovegTh)unied to.. Gross Tothi 2028 T¢xal 2011 Nl £OOO¥ p&nslo £OOOs £OOOs C￿rgY Stiwds 2ndthlrva ex￿￿e5 28 37 13 The Inlerirn can￿ ￿￿30￿1 C3ncn Mitewl Cantt) Lbyd 42 31 41 C￿rgy5up￿rt￿$ts do 46 Genw4 m•rkebfvJ 65 74 Costs olappe￿s￿lld fundra￿￿n0 298 21 13 W2 301 mu&k 198 10 225 Project Pilgrim 39 Chedrdl and preunds upkeep SUDPDrt ¢o¥tS 27 20 347 Educatitill 12 14 42 (Kherexwthjro $WDrtcost&'. Redundan￿e5 a￿d èx yfia Chapter Steward 18s emrltsye81 18 18 17 324 344 munity and (K[vat￿n 30 25 A￿￿Ve84nd IlbBry 27 25 C4ft sh)p and M(￿k.5 KLen reffftory 2D1 12 io 223 Totsl8 1.643 99 1.15B 1W62 49

Gloucester Cathedral Notes to the Consolidated Financial Slatern&nts- ¢ontlnued NLelS StoWeosts- cothiNisd One grnployee. the Chaptersleward. re¢elvgJ emolurnenis Ihe year the ￿r￿￿£60.00O- £7D.000 Pension neflls forth8 Chapter st￿￿ard Mer6ac¢rued wdera tsfiD8d contribLrtion ￿nsion stheme and ££.000 was roldto Ihè scheme duriThyt￿ pwod. The Sen￿[ L8aaorshlp Teatn, ma¢e upofhead& ofathent and three re$lthnb8ry dergy. $fomaityeststA&hed n jan￿ry2023. Tr comL4TJ emolLYnonls oflhe ￿eY8n1 mernber& of 3taff l0rtrÉirequ￿fJtyts in y￿s) totalled £301.00012022.' £333.0001. The team rnpmbers. and their rde¥. are Ils1￿ In th2 reference Wbon ¢ftNs Theordy mèmb8rs of¢￿Pt￿ rarnun2ratwJ by the CathedralforlhEirservi¢e5 arethE tban and ￿ oflhp R8SKJeni￿ry Lay mÉmbers of CFkwpt8r ae not remuneraied. The refflwerauon of ppnsyth prO￿SKIn lora DÈan b Res￿￿￿11￿ Carx)rhS are pa￿ in ￿e0rda￿ %%ilh scales laid dDW annually by tre Chuith Comrnlssbnets, the A￿hbl$￿#. Councll the Chwch of EngLand Pensk)ns Board. only member6 orcNpw remunewèd tylhe Calhedrni hrlhelr set¥Kesy￿￿ the and one Re51denbary Canon The lorlhe residÈniiarydww VR6 Paid from a S.23gTant from the Churth C￿rmI¥S1on￿r5. i.t. th8 na msltothp Cained￿ Is £NIl I￿2." £NII The CalhwJT81 p8id utilths of£28,QN)12022' £19,OODI rofihe [￿an and Re3klentiary CarK)n. ¢overi costs, rate3 Cowl Tay. Th6 ffgure was t8th4ced In Ihis finanthai y6¥ theto vaGanups. The 4greg&le amount rIM￿[sed ID 12922.. sevenl The￿￿ts0fthe Chllpterw88£3.OCK) (3)22." £12.0001 In rèspect of travgl, ￿ter￿ains￿, tBinlw and genwal adm1n1stmlk￿ expenses. DonaliDllS fwm membersL Chapterio the cath￿1￿ idAled£2,00012022' £2.0001 N¢A•16 A￿lItOrs. fEThun8ratlo 2022 £OOO& Remurration Cha￿ Inthe attounts forthe CatFth1's audilvisvias.. Auditservlces 18

Gloucester Cathedral Notes lo the Consolidated Financlal Statements- continued Not817 Su rt Costs Support and govgmance c05t5 InClu￿d In •xpendlture in the financlal statements have been apportlonéd as follows.. Dlrect Support costs 2023 costs 2023 Dlr• Support costs 2022 costs 2022 Total 2023 Totsl 2022 £U)OB 465 16 108 £CQOs 432 153 25S 16 £OOOs 897 169 363 18 £￿05 £OOOs 449 103 £OW5 813 112 355 17 Raising funds Ministry Cath￿Iral 8nd precincts upkeep Education and outrezch other expenditure on mi5SK)n 149 17 Total 589 890 818 Note 18 Contln Thl Llabilitias Chapter h85 8nler8d into an agreernenl with The Kiw's Schwl Ithe School), Glouceslerto provide a conlribution of 20Yo of School fees for up to 16 boy choristers and 16 girf choristers whilst they sirwJ in the Cathetjral cfK4r $tté the Sch¢￿1. ChaNeThas 8150 wJreed that it will coniwiue lo pay a contribulion of.. 40¥b of School lees for W chorist￿5 were In Ihe Cathedral choir beforè the new agr8ernetrt came into eflect on 1 Seoember 2021 until they leave Ihe choir 8nd 25% of S¢￿01 fees wh8n they leave tr choir until they leave Ihe schod., 8nd 25Yts of School fee5 forthDse choristers h&J leftthe choir before 1 September 2021 until tw Ivdve the scfwl. Ch8Pter ha5 loreEa5lthe Caihedr81s conlributhon to fees for eX-cl￿risters for Ihe five years J8nuary 2024 to July 2028 based on the n￿ber of tx>ys wfN) oualfy for the commitmeTht and on the assurnpt￿nS Ihat the Calhedrdl'5 contribjtion to fees for ex-ch0ri5ters at the School wll be 25% arNJ average 8nnual In¢￿aSeS on School fees will be S.￿￿. The foTeca5t also reflects upto4ate information on the nurnber of boy ¢horister5 continued at the scho￿ after 1 September 2021. Based on thi8 data the Cathedrafs contribut￿n lo fee5 for ex4horisters at th8 School in Ihe fiflh year. September 2027 lo July 2028, is estimated * £7,CKJO12022.. fovrth year 2026 £26,000) arrfl its a99￿gate conlribub'on for the fwe year5 15 estimated al￿36,000(2o22. £192,000 forfouryear51. Tlre were n) olher kTh>wn contiTh)ent liabilit￿ 8t the balance sheet date12022.. £Nill. 51

Gloucester Cathedral Notes to the Consolidated Financial Stal8ments - continued Note 19 i￿1 Commftm8nt5 In 2022 Ihe Cathedral ¢ontr8Ctd for malororgan rèstoration w)rks with Nicholson and ¢0, Ltd. The value of the contr8Ct was for £1,174.000, of whi¢h £59,OC(I was pakl 8s a d8P05iI M) 2022. The rernairKJer Is beir9 pa In instrlrr￿nts bssed on st4es ofcompletion. The work shjuld be Complet￿ and %￿pted by June 2026. e contract 3llows foranuual Inflatlon adju5trnents frorn January2023 in line with indice5 published by Institute ol British Organ Buikjers. Based on cutrent estimates of inflationary udift5 across the lenoh of the contract. the lolal amunt P8KI expected ￿ be £1.480,000. Note 20 Penslon Costs The Dean and two Resilenllary Canons are membèrs of the Church of England FuThJed Pensbjn Scheme, whKh is denn&l benefil scheme. The Cathedral is unable to ￿entty its share of the underlwr¥J assets and10bil￿¢s of the Scheme. Contributions to Ihe scheme are paid by thè Chur¢h COmrniss￿rners, along wth the olher rernureratron costs lorthe three clergy, aNI are $￿wn below. There is en offsetb'ng eredit in restr￿8￿ fund5 forthe Churth Comfflissioners, contribution to the scheme. 2023 £0( 2022 £(K)05 co￿￿bUt10￿S to the s¢heme by the Chureh Commlssl¢Jngrs 15 The Cathedral also conffibuies to a defined contribUt￿n pension Scheme in resp8Ct of its otheremploy¢es. The assets of the scheme are he￿ Sepa￿te￿ from those ofth8 Cath￿[81 in an Indep8r¥Jently admini%lered fL￿. 2023 £OOOs 2022 £￿05 Contrlbutlons to th8 s¢heme The Cathedral 81so Operates a dgfined benefit pension scheme caued The Chapter of Gbucester Life AS$uranC83￿j Death Benefft Scheme (the Scheme) in respect of certain of it5 fomier empfoyees a￿, where appropiiate. their dependents. The Scheme promdes benefits basd on final salary length of $eNce on Tell￿Ment, le8ving setvKe or dealh. The follww dlscbsures exclude any sllowance lor deferred tax, d&finecS contributim schemes operated by the Cathedral. or dis¢￿tIonary benefrts. The Scheme is subject to the Siatuiory Fundw Objective ISFOI underthe Pensions Act 2￿4. A valuat￿￿ of the Scheme is carried OLrt at leasl once everylhree yeats to deleM￿ne whether the SFO is met. As part of the process the CAthedral must agr8ewith the trUStee5 of the Scheme the ¢0ntrbbl￿o￿S to be pa￿ to add￿sS any shortfall against the SFO. The rn05t recent comprehenswe actuarial valualion of the S(eme was carried out as at 31st March 2023. The ne* valuation of the Scheme is due 88 St 315t March 2026. In eVe￿t trot the valuatH)n reve815 a ￿rge[deficit than expected the Cathedral rn8y be rtquired to increase contributions above ttrnse sel out in the existing Schedule of Contribu￿OnS.. conv8rsgly, if Ihe poSI￿on is better than expected it is possibk that contributions may bg teduced. 52

Gloucester Cathedral Note5 to the Consolidated Finanual Staternents- continued Nots 20 Pension Costs-conunued The aduarEal valuBtiun a¥ 8131$1 March 2023 irKJl￿tedthQ &hemè'A fund1￿ thl al that date￿0$ 94%. Ca￿es￿ndiN to 3 defioi of£$.000 on a￿Chn￿￿k wov15￿￿ basis Rocovery pldns illusliated In valualknn ¥￿e, from 15tApril 2023.. 1 yeai at £6.000 per￿nurn, or5par8at£1,250 p@rannum to￿ 10 t￿ Sch￿￿￿. Exp1ar￿lI￿ of amout)ts In the financlal 8tÈt•m¢nts 2023 2022 £OLKI AmDwl¥ I￿￿niSed Intheb3Lqnce sheet Fair valueol 358et8 Prewl valueof fund￿1 oblloatior D•flclt 68 81 Amourts recognlsed In stst•m4nt of Financlal AGtfvttIps QVBrth•ye•r Acknirwstya￿on costs Inierèston liaknlllle5 In￿rÈston nel assets T¢xal 19 18 19 19 RtrmÈa9urements overthpy•ar on Stheme as3ets in ex￿￿¥ or ints￿ gains on IHbilffoes Gains from charyesto dtrMcor￿iC aSsUm￿on5 IGair61 from Chan￿ to finarts￿ assumpiion$ Totol r04nFa•uremtrnts 12) 42 Re¢onclllatlon of aBsets and Dof1￿0 gendt Obllgllllon The ¢han9e in 8$selsover the was". Fair value of 33setsatlhe beginniw of the p•1& Actuarial of 2020 asset values Interest ￿ a8EetS C8thedrai w1￿￿￿0r0 B¥tfll$ P8ld Ackni￿StratIOn costs Réturn c• Stheme 35set5 less Inleresi F•lrvaluÈ of 4gse¢B Qtthe£ndOfthtr 31 31 B1 68 53

Gloucester Cathedral NDtes to the Consolidated Financial Statements- continue¢J Nrle 20 P4hslrJn Costs-cfwrtitlued 2022 £DOD5 £0005 The chan9p 110 D•fined BerfitOblig4tlon overthè pÈrfod w8.. Defined Benefit Obligaiw)n Èl the beginnino of the periD Interest cost Benefits paid EMpprt8nct gansl lossés on Deffned Obhgalio Ch8nyes tOdemograpfv￿ 83y￿r￿1 tofinanc4al assummion5 Dpflmd B•nfrt Obll9atJon atthè otM1 olthe pErloxl 81 122 B7 81 As$pts The a¥set$ 8reth?Ily invesw ina de￿)￿￿4￿M￿l9lr￿tVjTrfund th OnE and a pookd L￿rI Bccourtknith B8mett Waddin¥h8m, the Scheme's actuary. Thtrwal retuffton the Scheme'$ assÈtg Irt afexp8nsl overthe ￿li(xj to the reviewdatre wa5 around £NIl. Theas$ets do not I[K￿de ¥y Inve5tmpDI in th@ Calhthl. tu•rlal as6umptian$ Discount rate Inflation IRPII Inflation ICPII Pensil￿ inuea$e6 IRPI 5% p.al 2023 4.60% 330% 230% 310% 4.80% 3.40% 2.40% 3.30% Pc61 retirementrTh)rtabty for 31 De¢pmber2023-¥% ofS2PA tables CMI 2022 (2022.. CMI 20191 p￿let￿n¥ uslrvj a l¢mg lertn nie of I￿P￿)Verno￿l Df 1 5% p.a. {2022." 1 5%). Th& 2020ar￿ 2021 E4gM ￿rOMetS are nl the 20￿2￿￿ght P8rarnewls 25% No mad8ttmemberE to take tax Iree c4sh. ote 21 Rdatsd Pa Tran$a¢tlonts Tr8nsacttons bety44en treCaihedr81 arxj itsMty 0￿￿ed subwdiery, Cloucestrrcalwral Entw¥e3 Lirruléd IGCÉlduring the period re'. 2023 £0005 2S2 2022 £DOOs 212 CthedrBlwage8 rethaw to GCE Glft aid recekvea fTom GCE Amouni$du2 by GCE to call￿ 81 the ervj of t￿Y 101 1e2 alion$ 1¢ Ihe Calhedrafsynud fund ff￿rn mwnbersofChaptwtc&llEd £1,000, and to resifirf￿ E1.OCO 12022. £1.000 an0£1.OWI. T￿ Cathedral pays se￿I￿h1p8for¢hon5terS atte￿1n9 T￿ King's sch￿1. G￿jL￿•stsr IsÈè Mle 181. In 2023 the lotsl IÉècontribu￿n vffjg £188,00012D22." £180.OW}. TThO Schwl payB 18ntoT £201,00012022'. £159,ODOI to t Calhedral. Al December 2023. £25.00012022.. £4.OOOfrotn lfve Schcd lo the cal￿1#1) 0¥￿*9 frcrfn tp Ihedral lo the Sthod.

Gloucester Cathedral Year ended 31 December 2023 The last ten years lunaudltedl 9mths ended Ettdtd 1015 2016 201Y 31￿3.1B 3L.IL18 2019 701D 2022 2023 £CtsJs EQOOs £o(th erlmnÈntsf￿rn". DOJWions andk6ac Grant5 IN SUPP¢rtof mtss(Il chvEe5bndlee5fw￿s￿ltsn TiadiwandfUndTr￿i￿g IrKomefrom lThve#rnÈfits L6ts 1061 957 710 l39U 745 1.076 1172 773 IA73 3hlO 512 592 323 276 155 145 IB2 210 170 566 495 543 52L 519 298 519 779 739 769 914 911 918 939 1.064 TOthI 3,459 3,103 3,678 6.14E a,748 In9 3mL 4A61 HaNn8funds 773 789 832 941 1.773 ¥947 671 713 756 959 Caihedr& ￿dp￿eI￿KtrSUKI¢eP EdLKiDA andcArtreach L93L 4,570 1043 810 810 71 71 B3 70 63 96 ComrnuDityaDd ¢thwwtlo 22 16 107 216 53 420 423 517 407 631 692 35 Totsl 1911 3295 3,965 6.729 IBLVJ 3a25 3,135 3,694 tInc0￿/(exp￿r￿tt￿rÈ>bthre rtt piNl1h)s￿)1lD1￿SEThrts 541 91> 514 Netylrrfllb%se5lonhvesknert5 874 668 916 34J 875 IM63 ritrtlexper4wrellirKurne 1,415 476 629 12401 4290 976 17451 617 Otherrwnw 8FJ 639 105 62 238 NÈtn￿5rnerrt1nfunth L115 75$ {691 iJ5B 2,214 fjZD Rtcortinèuonof fvnd5'. Totalfundsbioughlforwarl 14.118 15,677 16.792 17,547 17A12 17.343 .701 20,915 IL535 2Q854 TOts1fuhds¢ar￿dfOrwa 15ffi77 16,79 17.517 17A12 17. ,701 IlJgl5 21,535 ZTr%5q 2X.156 Th¢fL￿d$41th¢¢thdrlI EndwiMe￿lfL￿￿s 1726 273 3.620 4,IEQ 4,237 4A65 5,218 5.972 5.555 Genertl funds (31 14031 12201 437 12861 Des*natedlund Aestithd fund5'. 733 1,172 1149 IL9 678 S35 621 U7 445 434 Propprtlr￿￿1￿atlQnr￿SQTve". 10.506 IiS?3 119Y J2,974 13259 14.207 14.9)1 $57 15,LVJ4 T¢tt1fvr￿s￿rrled lofw4rd 15.677 16,792 L?.547 17,442 37.34a IB.7DL 20J15 21.535 21.356 55