2024-12-31-accounts

THEDFIIL I'ii I'lilai rI.￿ly4 The:Cathedral Church of the Holy and Undivi4eLfTrintAt of JE 2024 Repoit and consplidated financial statemeftts .

Contents Annual report Message from the Dean Thanks About Ely Cathedral Our objectives & activities 10 Our achievements & performance 17 Future plans 18 Structure, governance& management 24 Safeguarding 27 Fundraising, finance & risk 32 Decarbonisation Il'lill,, 35 The responsibilities of Chapter Independent auditors. report 36 Independent auditors, report Financial statements 40 Statements of financial activities 42 Balance sheets 44 Cash flow statement 45 Notes to the accounts Photo credits throughoutonnualreport.. Ashely Darnell, Clive England& Keith Heppell. Ely Cathedral The Chapter House The College Ely Cambridgeshire CB7 4DL www.ely<athedral.org Registered charity number 1202546 Cdthedralo, . en dayi Septe

Message from the Dean In 2024 we celebrated the 30th anniversary of the ordination of women as priests in the Church of England. Our Cathedral and Diocese has played a significant role in the ordination of women over the past three decades and the Diocese of Ely now has more women holding office as vicars or rectors than any other diocese. It was therefore a particular pleasure to commemorate this milestone at a special service presided over by Bishop Dagmar, assisted by the Revd Canon Fiona Brampton, who was one of the youngestofthecohort ofwomen to be ordained as a priest in the Cathedral in May 1994. The preacher at this service was Canon Jessica Martin. Jessica has been a superb colleague and friend since becoming a Residentiary Canon here in 2016. In 2024 we said farewell- and an enormous thank you- to Jessica, as she begins a new stage in her ministry as Dean of Chelmsford. We were delighted to welcome the Revd Dr Jenny Wright as a new Residentiary Canon in May 2025, joining us from her role as Chaplain to the Archbishop of York. In 2024, we also celebrated being awarded A Rocha Uk's Gold Ecochurch Award, becoming the third cathedral to achieve this. It is enormously gratifying that our care for God's creation has been recognised in this way. We particularly thank Robert Skelton and Rebecca Mundywho have done so much in a voluntary capacity to help us to achieve this. We played our role in the public square in June 2024, when wewere pleased to welcome hundreds of members of the public to a hustings for the general election. All of the candidates standing for election in the constituency took part in a very lively evening, chaired by Lord Wilson of Dinton. I was very pleased that Lord Wilson accepted our invitation to become High Bailiff of the Cathedral in 2024, having served for many years as Chair of the Cathedral Council. In October 2024, we learned of the death of Julian Litten, a member ofour Fabric Advisory Committee and a great friend and supporter of cathedrals. Several of us attended his Requiem Mass at Norwich Cathedral, perfectly fitting for Julian, who was an acknowledged expert on funerary customs. Our annual report for 2024 again rejoices in a wide range of achievements and milestones. At the heart of all of the activity that rightly comes with a busy cathedral, however, is the daily rhythm of prayer and worship which it has been my privilege to share with my many colleagues here. I give thanks to God for sustaining our work and ministry at Ely Cathedral and for blessing us with the riches of a joyful community that proclaims the love of God in worship, outreach, welcome and care. With my prayers and best wishes, The Very Reverend Mark Bonney DL Dean of Ely 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Thanks We are enormously grateful for the work of our four hundred or so volunteers, many ofwhom volunteer in more than one way. We thank all those who give their time and energy to support the Cathedral. We are also grateful for our many unpaid officeholders. These include non-executive members of Chapter and its committees, trustees of Ely Cathedral TrusL members of the Fabric Advisory Committee and its Secretary, and our Cathedral Archivist. Images overleof, from top.. The effecrof new, energy-efficient lighring on the vaultedceiling of Bishop West's Chapel, fundedby The Friends of Elycarhedral. A smollselection ofdozensof carvedheads revealedby conservarion work on chantry chapelscreens, funded by The Headley Trust, the StuartHeath Choritable Settlementond the Benefoct Trust. We especially thank David Stazicker, who retired this year from his role as Secretary to the Fabric Advisory Committee, having served in this capacity since Volunteersplanting a newgorden along the EastLown of the Cathedral, in honourof the Virgin Mary, fundedin memory ofthe late Andrew Cowan andolso by the Finni55cott Foundation. 2010. We thanktoothe members of ourworking groups supporting our lighting project, planning for an overhaul of the Cathedral organ, and our environmental work- which resulted in a Gold Ecochurch Award in 2024. We are hugely grateful for the ministry of our Day Chaplains, Priests Vicar and Ministers and the care they extend to those visiting and worshipping with us. We thank members ofthe College of Canons for their support to the Cathedral. Many individuals and organisations have supported us financially in 2024, helping to pay for conservation and environmental work, our outstanding choral musical tradition, and the energetic work of our Learning Team. We particularly thank The Friends of Ely Cathedral, especially for their constant support for the lighting project in recent years. Thosewho are contentto be named arethanked overleaf, and we thank also those who wish their gift to remain private. 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

With thank5 to: Benefact Trust The late Mr Kenneth Case Cheffins The Church Commissioners for England The Church of England Net Zero Demonstrator Fund The late Mr Wilfrid Davey Ecclesiastical .J Ely Plumbing and Heating The late Mr Duncan Ferguson The Finnis Scott Foundation The Friends of Ely Cathedral The late Mrs Sheila Knox The Headley Trust The late Lord Hemingford The Jack Patston Charitable Trust Julia Rausing Trust The late Mr Donald Lester The Mandarin Trust The late Miss Audrey Martin The late Mr Michael Mccookweir The late Mrs Patricia Mccook Weir Mccorquodale Charitable Trust Members of the Order of St Etheldreda Metcalfe Copeman & Pettefar LLP The Patrick Rowland Foundation Poets House The Red Lion Soham The late Mr Charles Rawlinson MBE The late Mrs Sally Rowland The Scops Arts Trust Stuart Heath Charitable Settlement The Wolfson Foundation Our volunteers, clergy, staff and all who have supported the life and work of the Cathedral in 2024.

11 14* '-ryT

About Ely Cathedral Our inheritance Ely Cathedral has been a centre for Christian worship and service since the seventh century. St Etheldreda founded the first monastery at Ely in 673 and we continue to keep major festivals in her honour on 23 June and 17 October each year. The abbey at Ely was raised to cathedral status in 1109. After being dissolved as a monastery in 1539 by Henry Vlll, we were refounded as a cathedral in 1541 and dedicated to the Holy and Undivided Trinity. Since then we have been in continuous existence, constantly evolving to fulfil our fundamental purpose. Our mission and vision We align ourselves with the vision statement of the Diocese of Ely, that'we pray to be a generous and visiblepeople ofjesus Chrisy. Our mission To bea sU5tainableChristian community joyfully proclaiming the love ofGod in worship* Outreach, welcomeand care. Our vision To be a placewhere everyone- in all our diversity-maygrow intothe loveof God revealed in Jesus Christ. Cathedral bodies A5 well as the Cathedral itself, this annual report and the accompanying consolidated financial statements include the activities and finances of Ely Cathedral Trust and Ely Cathedral Enterprises Ltd. Ely Cathedral Trust is a charitable foundation, registered with the Charity Commission. It acts as a fundraising arm for the Cathedral and manages significant financial investments for the long term benefit of the Cathedral. Ely Cathedral Enterprises Ltd is a trading entity, registered in England and Wales and wholly owned by the Cathedral. Its directors are responsible for the performance of a shop and restaurant under the Cathedral's ultimate control. To help readers understand the financial position of the Cathedral alone, as part of this annual report we review some key financial information relating to the Cathedral only Isee pp27-301. We also publish a 'Cathedral only, version of the statement of financial activities (see p411 and balance sheet (see p431. The Friend5 of Ely Cathedral are separately constituted as a charitable incorporated organisation. The charity is independent of the Cathedral lalthough the Dean is an ex officio trustee and Chapter appoints some of their trustees). As The Friends of Ely Cathedral exists wholly to benefit the Cathedral, summarised financial information is given on p67. The Stained Glass Museum Iwhich is located at the Cathedral) is entirely separate from- and independent of - the Cathedral. It publishes its own annual report and accounts. Howwe arefunded The Cathedral receives no routine state funding, nor do we receive funding from the parishes of the Diocese, nor from the Diocese of Ely. The Church Commissioners pay the stipends of the Dean and two Residentiary Canons and provide some additional grant funding. This was equivalent to around 7% of our income in 2024. Otherwise, the Cathedral generates all of the income we need through a combination of earning income from the assets and resources available to us, and through our own fundraising efforts and the kind support of many individuals and charitable bodies. More infomiation is on pl 6 and pp27-30. 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Our objectives & activities Our purposes The Cathedral has two core purposes: being the seat of the Bishop of Ely and a centre for worship and mission,. and providing a focus for the life and work of the Church of England in the Diocese of Ely. Our charitable objective5 Our objectives are.. advancing the Christian religion in accordance with the faith and practice of the Church of England, in particular by furthering the mission of the Church of England, pastoral, evangelistic, social and ecumenical caring for and conserving the fabric and structure of the Cathedral Church building advancing any other charitable purposes which relate to the two objectives above. Our artivities The significant activities we undertake, and how these relate to our core purposes and our charitable objectives are set out in the table opposite. Our aims The nature of our core purposes and charitable objectives means that our key aims are directed at maintaining, sustaining and enhancing the life and work of the Cathedral, directed towards our core purposes and charitable objectives. It also means securing our financial sustainability. Our approach to this is set out on pp27-30. We hope that the difference we make isto enable a wide range of people- however they encounter us- to grow into the love of God revealed in Jesus Christ. Social investment The Cathedral is not permitted (both by our own constitution and by the Cathedrals Measure 20211 to make use of the power conferred by section 292B of the Charities Act 2011 (social investment powerl. Grant-making The Cathedral makes donations to certain charities each year as part of our Christian witness and which further our charitable purposes. These donations are made from collections at particular services and from a proportion of regular congregational giving in the form of stewardship. Small grants are sometimes made, to further the Cathedral's charitable objects. Such grants are made under the Cathedral's grant-making policy, which conforms with Charity Commission guidance. Ely Cathedral Trust makes very significant grants to the Cathedral each year. It does so under formal grant agreements. It does not make grants to any organisation other than Ely Cathedral. Volunteers Volunteers make a hugely significant and highly valued contribution to the life of the Cathedral. At the end of2024,we were supported by a total of 416 volunteers in 24 distinct roles. During the course ofthe year, we werejoined by 51 new volunteers12023'. 521. Public benefit The Cathedral Chapter confirms that in its direction and oversight of the administration of the affairs of the Cathedral it has had regard to Charity Commission guidance on public benefit. In so doing, Chapter has ensured that the main activities undertaken by the Cathedral have furthered the Cathedral's purposes for the public benefit. These activities and their relationship to our purposes for the public benefit are outlined on p9. Those activities shown in the blue and purple boxes directly further our purpose and objectives for the public benefit. Those activities shown in the red boxes do so indirectly. Our overall approach to achieving this is to ensure that, across the full range of activities las set out in the table oppositel, we strive to be a sustainable Christian community, joyfully proclaiming the love of God in worship, outreach, welcome and care. 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Core purposes Being the seat of the Bishop and a centre for worship and mission. Providing a focus for the life and work of the Church of England in the Diocese. Activities: Celebrating services of baptism, confirmation, ordination, the licensing of lay ministers, and the annual renewal of ordination vows at the Chrism Eucharist. Hosting Diocesan services and events for those in the parishes of the Diocese with safeguarding responsibilities. Welcoming pupilsfrom schools in the Diocese of Ely Mult Academy Trust to a special Christmas Carol Service. Celebrating Sp￿la1 and civic event5, such as for General Election hustings and an annual justice service. Providing free entry to the Cathedral year-round for all those who worship in the parishes of the Diocese and for all on major festivals. Charitable objectives Advancing the Christian religion in accordance with the faith and practice of the Church of England Artivities: Holding at least three arts of worship every day of the year, including regular choral worship, and livestreaming an average of five services each week. Providing pastoral careto our congregation, pilgrims and visitors. Maintaining a wide programme of Christian education and formation for adults, children and families. Engaging in a range of social issues through lecture series, discussions and preaching. Welcoming members ofotherchristian denominationsas Etheldreda IEcumenicall Canons of the Cathedral and providing hospitality to other Churches wishing to worship at the Cathedral. Caring for God's created world by reducing our carbon footprint and enhancing biodiversity on the land under our stewardship. Providing free entry to the Cathedral year-round for local residents, care workers, children and Cambridgeshire students. Caring for and conservin9 the fabric and structure of the Cathedral Church building Maintaining the Cathedral Church building and the many ancient monastic buildings in the Cathedral precinct under our care. Commissioning and supervising conservation workto preserve the Cathedral for future generations. Undertaking enhancements to improve the appearance, useability, energy-efficiency, safety and ease of maintenance of the Cathedral. Advancing any other charitable purposes which relate to the two objectives above Building on our excellent musical and artistic tradition by acting as a regional venuefor concerts, events and exhibitions. Making our heritage acce55ibletothe publiG supported by interpretation materials, guided tours and a range of information. Supporting & enabling activities Activities which support and enable our core purposes and charitable objectives. Securing resources through fundraising, investment and property managemenL and the activities of ECEL'S shop and restaurant. Working Safely and effectivelywith support from colleagues specialising in safeguarding, health & safety, governance, administration & compliance, finance, technology, communications, and human resources. 2024 ￿eport The Cathedral Church of the Holy and Undivided Trinity of Ely

Our achievements & performance in 2024 On the following pages, we set out our performance in relation to our charitable activities, under these headings.. our core purposes our charitable objects.. promoting the Christian religion - care and conservation of the Cathedral We were glad to welcome pupils from the family of schools forming the Diocese of Ely MultFAcademy Trust I'DEMAT'I for their second DEMAT carol service during Advent. We hope that this will become established as a regular feature of Cathedral life. We continued to offer free meeting space to the Diocese of Ely, particularly to provide facilities for the delivery of fac*t(kface safeguarding training. We said farewell- and an enormous thank you - to Canon Jessica Martin, who left the Cathedral to take up her new role as Dean ofchelmsford on 5 January 2025. For much of 2024, Jessica was also acting as one of two theological advisors to the House of Bishops. We know that the national Church is very grateful for her work in this area. We have been delighted to welcome the Revd Canon Jenny Wright (former Chaplain to the Archbishop of York), who was appointed in succession to Jessica, and was installed in May 2025. Our place in the public square was underscored when we hosted a hustings in June for candidates in the July general election. 800 people attended, with a further I,OOO+ views online, for which we provided British Sign Language interpretation. Former Cabinet Secretary, Lord Wilson chaired the event. He was appointed High Bailiff of the Cathedral on the Feast of St Etheldreda, in recognition of his former service as Chair of the Cathedral Council. - acting as a regional centre for the arts - making our heritageacce55ibletothe public Supporting and enabling artivities (including finance, reserves, investments, trading operations and fundraising) So much is achieved in our Cathedral over the course of a year that it is possible only to summarise and draw attention to highlights. Perhaps the most outstanding achievement, though, is in the day-to- day routine cycle of prayer, the provision of pastoral care, and the welcome extended to those who visit. Our core purposes Being the seat of the Bishop anda centre for worship andmi55ion, andproviding a focus for the life and work of the Church of England in the Diocese ofEIy. In addition to our usual pattern of Diocesan services, we were delighted to mark the thirtieth anniversary of the ordination of women as priests in the Church of England. We held a special service at the Cathedral in November to celebrate the contribution to the Church's ministry ofthe many women priests who serve- and have served- in the Diocese of Ely. Bishop Dagmar presided, assisted by the Revd Fiona Brampton, who was the youngest of the cohort of women ordained to the priesthood at the Cathedral in May 1994. During the service, the Revd Lynda Davies (Bishop's Advisor for Women's Ministry) interviewed the Revd Claire Brocklesby, who was one of the youngest of the cohort of the Deacons ordained at the Cathedral in July this year. Promoting the Christian religion The worship of God, as revealed in Jesus Christ, is at the core of Cathedral life. Throughout 2024, we maintained our daily pattern of worship. This involved celebrating 1,378 regular services12023: 1,1881 during the year. Of these, 24012023: 257) were livestreamed. Patterns in attendance are hard to discern. Attendance at all Christmas services14,1001 was up 21 % compared with 2023, whilst attendance at all Easter services11,3001 was down 7%. Attendance of 14,200 at services during Advent and Holy Week was 16% higher compared with 2023. 2024 Report 10 The Cathedral Church of the Holy and Undivided Trinity of Ely

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Review of 2024 The contribution of the Cathedral's musicians and choirs to our worshipping life cannot be overstated. Choral worship is at the heart of our worship, with over 250 sung services each year. Our volunteer adult choir IEly Cathedral Octagon Singers) and children's choir Ithe Ely Impsl are singing in larger numbers than ever, with over 200 people regularly singing in the Cathedral in 2024. Our talented Assistant Director of Music, Glen Dempsey, sadly left us in 2024. We feel very fortunate to have been joined by Jeremy Lloyd, who is proving to be equally impressive in this role. We devote very significant resources to maintaining our choral tradition. In 2024, we spent £593,000 12023.. £559,000) on the direct costs of this aspect of Cathedral life. We are very grateful to Ely Cathedral Trust for the very significant financial contribution it makes towards sustaining the Cathedral's music. Our work with children and familiesforms a central part of our activities. In 2024, we added a new memberofstaff to the Learning Team to provide extra support to our successful Little Gargoyle5 and Home Educators History Club. We created dedicated space and new resources, including sensory trails, to support children with special education needs and disabilities. This led to Philippa Stevens lour Director of Learningl being invited to share our expertise in this area at the annual conference of the Council for Learning Outside the Classroom. We were pleased to welcome Sir Laurie Bristow, formerly HM Ambassador to Russia, to give Amnesty International's Ben Jupp Memorial Lecture on the subject of Whydid we fail in Afghanistan? And why does it motter? Our carefortheenvironmentfocuses on reducing our carbon dioxide emissions and increasing biodiversity on the land we care for. We were delighted to be awarded A Rocha UK'S Eco Church award at gold level in 2024. Ely was the third cathedral to achieve this, and we were very pleased to be joined in this group by Chichester Cathedral in November 2024. We are hugely grateful to the many volunteers who have helped us to reach this point, in particular Rebecca Mundy and Bob Skelton, as members both ofthe RENEW group and Chapterfs Environment Working Group. Building on the results of a survey carried out in 2022, we have continued to make good progress on planning our route to achieving net zero carbon emissions. JG Consulting worked with us in 2024 to identify how to reduce carbon dioxide emissions associated with energy use in the Almonry Kitchen lour restaurant), the Black Hostelry lone of our clergy residences), and the Deanery & Chapter House complex, each by around 8096. Our progress in reducing our carbon footprint since 2019 is set out on pp32-341. In the autumn, we were pleased to secure funding from the Church of England Net Zero Demonstrator Fund and from Ely Cathedral Trust to put into action the detailed decarbonisation plans for the Almonry Kitchen. This work was undertaken in March 2025 (after the balance sheet datel and we will be able to report on its effects next year. We held our second Environmental Memorial Lecture in 2024. This was set up in memory of the Revd Jenny Gage who was the Cathedral's Minister for Social Justice until her death in 2022. This second address was delivered by Canon Dr Peter Brotherton, Director of Science at Natural England, on the subject of Climate Change andNature loss.. twin crises, sharedsolutions. We have continued to support biodiversity in the Cathedral precinct by maintaining a wildflower bed and planting the new Mary Garden on the East Lawn. We were pleased to receive permission in 2024 to plant local varieties of fruit trees on the Dean's Paddock. This was completed in January 2025, after the balance sheet date. In 2024, around 3,000 schoolchildren visited the Cathedral for tours and learning activities. There were a further 4,300 engagements recorded of children and families with regular events such as DiscoveryDays, Secret Garden Storie5, Lego Café and Boardroom Café. The Learning Team, with an incredible group of volunteers, created a new Mary Garden bordering the Cathedral's East Lawn. The garden is full of plants and flowers associated with the Virgin Mary through their colours, symbolic meaning or the legends and stories attached to them. 12,000 flowering bulbs were planted, all chosen as being friendly for pollinating insects. Our autumn programmeof worshipj prayerand Christian formation in 2024 was on the theme of Proclaim themessage.. Preachers and Teachers. It enabled our speakers to engage their expertise on politics, the environment and matters of justice. 2024 Report 13 The Cathedral Church of the Holy and Undivided Trinity of Ely

Review of 2024 Care and conservation of the Cathedral In 2024, we continued to undertake significant repair and conservation works to the Cathedral and the monastic buildings in the precinct. The replacement of all interior lighting in the Cathedral began in July 2022 and was completed in November 2024. This project has radically improving the lighting of the interior for worship, events and visitors whilst also reducing- by an estimated 80Wo- the use of electricity for lighting. The scheme has been shortlisted in the lighting design industry's darc awards. Careful recording, conservation and repair work was undertaken on the intricately carved sixteenth century stone screens of Bishop Alcock's and Bishop West's Chapels. Detached mouldings from the door arch of Bishop West's Chapel were reinstated, along with other loose elements, and much polychromewas revealed and recorded. Statues partially hidden behind the intricately carved canopies of Bishop Alcock's Chapel screen were recorded. These yielded new insights into the intended decorative scheme. Arting as a regional venue for concerts. events and exhibitions The Cathedral hosted over 70 events in 2024 and welcomed around 70,000 people to enjoy a wide range of experiences including recitals, concerts, exhibitions, book launches, corporate dinners and lectures. In February, we hosted Crown & Coronation, our first immersive light and sound show with Luxmuralis. Over 7,000 visitors experienced the show, featuring images on the theme of coronations and the reigns of ourkingsand queens. Throughout the early spring, we displayed an exhibition in the Lady Chapel.. A Celebration of Bridal Gowns. This exhibition was very successful with visitors and featured on regional television and the national press. Alongside our more traditional programme of concerts and recitals, we welcomed around 13,000 visitors to a series of selpout tribute band performances including Queen and Coldplay, as well as silent discos. These alternative music events have clearly supported us in attracting a more diverse range of people to enjoy the Cathedral as a venue. Following work undertaken in 2024, the cameras used for live streaming services are now mounted on custom-made brackets in key locations within the Octagon and Choir, enabling a more permanent and discreet presence for the system. A significant programme of conservation and repair was undertaken in 2024 on theAlmonry Range, thanks to funding from Ely Cathedral Trust. This was part of the original monastic college, dating back to the thirteenth or early fourteenth century. From this building, alms were given from the monastic community to the poor, in the form of food and money. This phase of work focussed on the north and east elevations of the Almonry Range. The project involved significant repairs to the ancient faEade by highly skilled contractors. During the works we uncovered the carved mouldings of the Almonrls east lancet windows and discovered decorative medieval painted detail within the reveals. These are important surviving remnants of the Chapel of St. Martin which stood above the medieval Almonry. The paint fragments were carefully recorded and conserved in situ before the openings were carefully packed out and lim*rendered to ensure their protection and conservation. Renowned British sculpture Sean Henry exhibited over 25 hand-painted bronze and terracotta sculptures in and around the Cathedral throughout the summer, underthe title ofAmlmybrotherfs keeper? The sculptures of human figures were strikingly realistic, but ranged in size from 30cm to 3m. Imaginative use was made of empty niches and plinths throughout the Cathedral, creating a striking effect for the 35,000 visitors to the Cathedral in the teTrweek period of the exhibition. As in every recent year, the Christmas Gift and Food Fair was our single biggest event. We again slightly reduced daily numbers to improve both safety and the enjoyment of visitors. Around 17,00012023: 18,0001 people visited during the course of the fair, which generated a net financial contribution of around £120,000 towards the Cathedral's work and ministry. 2024 Report 14 The Cathedral Church of the Holy and Undivided Trinity of Ely

Review of 2024 Making our heritage accessible to the public Over the course of the year, we received around I I 0,000 visits from members of the public during normal opening hours12023'. 118,0001. As part of our public benefiL we continue to provide free access to large numbers of visitors. In 2024, around 33,900 or 31%12023: 27%) ofthose visiting paid no entry fee. We continue to offer free entry to local residents, those who worship in the parish churches of the Diocese of Ely, Cambridgeshire students, children and care workers. Supporting activities During the course of 2024, we substantially completed a multpyear programmeofinvestment in technology at the Cathedral, which increasingly underpins everything else that takes place here. This has involved the laying of around 500 metres of fibre optic cable, the overhaul of an ageing C￿v system, new print and telephony systems, improved cyber-security, new firewalls, much better wireless coverage, better resilience and improved fail-over and back-up arrangements. In 2024, we introduced new software to communicate more effectively with our incredible team of 416 volunteers. We also began a project to improve how we can use the data we manage to communicate more effectively with those who are interested in the life and work of the Cathedral. It is, of course, always free to come to pray or to attend any of the hundreds of acts of worship that take place here each year. On certain days of the year (including Good Friday, Easter Sunday, Harvest Festival and Christmasl admission is free to everybody who comes. We were absolutely delighted to welcome around 3,000 local people to our inaugural open day in September. Clergy, staff and volunteers showcased some ofwhat goes on at the Cathedral and answered questions about our work here. In March 2024, we launched new multi-media digita1 guides, enabling visitors to experience a selK guided tour of the Cathedral at their own pace, offered in six different languages as well as British Sign Language and an audio descriptive tour. Visitors can choose from the Main Tour, a shorter Highlights Touror a Family Tourwith child-friendly content featuring an animated character from a figure carved in the Cathedral, Ember the Dragon. As well as providing interactive content and an engaging tour of the Cathedral, these new handsets provide behind-thscenes footage of areas not usually open to the public, along with interviews with clergy, staff and volunteers to help reveal to visitors the breadth of daily life in a busy cathedral. We were assured by professional advisors that the introduction of digital media guides would increase, not decrease, the number of in-person guided tours requested by visitors. This proved to be right. In 2024, 14,000 visitors received an in- person guided tour of the Cathedral, up l 0% from 12,700 the year before. In 2024, we introduced a new Hidden Heights Tour, showcasing to visitors the Cathedral's magnificent roof spaces. This tour also enables visitors to walk the entire length of the nave, but at ceiling height. A wide range of colleagues is involved in supporting us to be the safest placewe can to worshipN work, volunteer and visit. We are grateful to the fire service for their programme of familiarisation visits, which included in 2024 a practice rescue from the Cathedral roof- as well as checking that a new fire engine really can fit through the archway of the medieval Porta. We are grateful too for the (almost wholly unseen) work of the Civil Contingencies Unit and Counter- Terrorism Police for their support behind the scenes, particularly as we prepare to implement new measures which will come into effect to make all venues safer if terrorists strike. In 2024 we began a project to reduce, improve and make more accessible thesignage in and around the Cathedral. This involves reviewing, removing and rwriting or replacing a very large number of signs across the Cathedral estate. We do not envisage completing this work until 2026, but it is already having a very positive impact for visitors of all kinds, and on the appearance of the Cathedral and its grounds. We regularly light the Octagon Tower in various colours (with supporting social media contentl to highlight and 5UPPOrttheworkof national and regional charities. Sixteen charities were supported by us in this way in 2024. 2024 Report 15 The Cathedral Church of the Holy and Undivided Trinity of Ely

Review of 2024 Financial review As outlined on p7, we are responsible for securing our own financial sustainability. We achieve this both by earning income from the assets and resources available to us, and through our own fundraising efforts- including the kind support of many individuals and charitable bodies. In the pandemic years of 2020 and 2021, we protected the core functions of the Cathedral, undertook energetic fundraising and invested in major repairs and digital infrastructure. We emerged in decent financial shape, but with da￿t0- day costs that are higher than our regular income. We set out to address this challenge. A period of high inflation in 2022-23 delayed us in our progress towards achieving a surplus of reliable income over routine expenditure. Nevertheless, in 2024, we continued our work to grow income faster than costs. We reduced our operating deficit from £371,00011 0% of income) in 2023 to £123,00013g6 of income) in 2024. We also secured funding for a range of projects for conservation, development and mission. Income We continued to grow income from visitors, events, our shop, restaurant and property portfolio, as investments and innovation over the last few years continue to take effect. Having grown by 1086 from £1,124,000 in 2022 to £1,241,000 in 2023, this grew by a further 2096 in 2024, to £1,483,000. Donations include very significant sums from The Friends of Ely Cathedral and from Ely Cathedral Trust for projects and major works. As our major lighting project reached its final stages towards the end of 2024, $0 did the flow of funds to pay for this. This IS the main reason for the fall in donations from £1,944,000 in 2023 to £1,261,000 in 2024. Thefuture In 2025, we plan to complete the process of growing income faster than costs, so that the Cathedral's routine expenditure is met by regular and reliable income. We consider this to be essential to securing the Cathedral's lon￿terM sustainability. We have factored into our plans the need to pay an extra £65,000 each year in employerfs national insurance costs. We are fortunate to be unaffected directly by the introduction of VAT on the school fees of our choristers and by a new cap on the Listed Places of Worship Grant Scheme. Nevertheless, there are significant risks and uncertainties ahead, which has informed a recent review of our reserves policy. It is important to us that we have the financial resilience to meet future challenges with confidence. Reserves and investments A detailed review of the Cathedral and group reserves position is set out on pp2&29. Investment performance is reviewed on p27. Trading operations During 2024, our shop and restaurant were managed within Ely Cathedral Enterprises Ltd I'ECEL'I. The company donates its profits to the Cathedral as well as paying rent and making an appropriate contribution to overheads on arm's- length terms. In late 2024, we exchanged heads of terms with the Cambridge Dining Company Ltd la local, independent catering and café business) to enter into a partnership to run the restaurant on our behalf. The restaurant closed for refurbishment on 3 March 2025 lafter the balance sheet datel and r&opened as planned on 8 April 2025. The existing staff team all transferred to the Cambridge Dining Company, and we look forward to woiking together in this new way. Expenditure Expenditure on Cathedral and precincts upkeep decreased in 2024 by 18%, from £1,822,OLMJ to £1,489,000. Much of this decrease is accounted for by the completion of projects outlined on p14, and is associated with lower income to fund those projects, as outlined above. All other expenditure decreased by I Wo from £2,419,000 to £2,394,000. Although underlying costs continued to increase because of rising pay and general inflation, a numberofon*off items lincluding timing differences on income and expenditure relating to projects) more than offset this effect in the financial statements. Fundraising The focus of our fundraising efforts are.. to secure funds from charitable trusts and foundations for project-related activity to make best use of opportunities to attract donations from the many people who visit the Cathedral, and to minimise reductions in planned and regular giving during a period of increased cost-of- living and reduced household means. 2024 Report 16 The Cathedral Church of the Holy and Undivided Trinity of Ely

Future plans Planned artivities We publish our plans for the future in The Mini5tryof our Cathedral, which is available on our website. In relation to caring for the Cathedral church building, we expect to complete the development of a new space to house those archives which we keep on site. This will enable the transfer of the archives to this space in 2026. Having completed exploratory conservation and cleaning work to the High Altar reredos in 2024, we plan to secure funding to undertake conservation work in 2025 on this important piece by Gilbert- Scott. We describe the ministry of our Cathedral in four parts: Our purpose, obje(ts, vision and mission Our fundamental role in society, our aims, our day- to-day being and our hopes for the future. Our core challenge This is our key priority for change. Our approach, and the specific actions we'll take. Responding to change in the world Addressing climate change, meeting the needs of a digital future, and reforming ourselves to become more accountable and transparent. Delivering our core ministry The heart of 'being Ely Cathedral,. These are our central, ongoing activities at the heart of what it is to be Ely Cathedral. Immediate aims & objertive5 In relation to our core purposes, in 2025 we will continue to do all that is set out on p9 and- with external professional support- develop a new vision for the Cathedral's future. We will fundraise for conservation work to windows in the choir and St Etheldreda's Chapel and a major refurbishment of the Cathedral organ. We hope too to secure funds to undertake a metric survey of the Cathedral church building at multiple levels. We plan to undertake repairs to the stone floors in the Cathedral, particularly in the nave aisles, the octagon and north choir aisle. We will also complete the refurnishing of St Catherine's Chapel. In respect of the environment, we will share with other cathedrals learning from the installation of an air source heat pump in the Cathedral restaurant (the Almonry Kitchen) in early 2025 (after the balance sheet datel. We will complete in 2025 the development of detailed plans to reduce carbon dioxide emissions for each of our iTrscope buildings. The exception is the Cathedral church building itself, which continues to present a seemingly insurmountable challenge. We will continue to implement our land management plan in the Cathedral precinct. Alongside plans to complete a multi-year programme of technology upgrades, we will (with external professional support) further develop our digital communications in 2025. Finally, we plan to complete the task of closing the gap between our routine expenditure and the regular, reliable income we receive, and perhaps even moveto a small surplus. When it met in 2024, the Crown Nominations Committee was not able to reach the level of consensus needed to nominate a new Bishop of Ely. We hope that the College of Canons will be asked to gather and elect the 70th Bishop of Ely at some point in 2025. With regard to our charitable purposes, we plan to continue to build up the work of the learning team, extending our work with children and families and introduce a more diverse range of people to the worshipping life of the Cathedral. Having secured funds in 2024 to pay for a post to widen participation in the musical life of the Cathedral, we plan to make an appointment to this post in 2025. 2024 Report 17 The Cathedral Church of the Holy and Undivided Trinity of Ely

Structure) governance & management How we are constituted Ely Cathedral is an ecclesiastical corporation with perpetual succession and a common seal. The governing body of the Cathedral is Chapter. Our governing document takes theform ofa constitution and supporting statutes, adopted in their revised form on 31 October 2022. These comply with the Cathedrals Measure 2021 and are published on our website. Our relationship with the Bishop and Diocese The Cathedral is the mother church of the Diocese of Ely, seat of the Bishop, and a focus foi the life of the Church of England in the Diocese. The Bishop has the principal seat and dignity in the Cathedral, holds visitatorial jurisdiction over us and regularly presides over and preaches at services. We consult the Bishop annually, at a special meeting of Chapter, on the direction and mission of the Cathedral. Decision-making Chapter sets Out in a scheme of delegation those matters it reserves to itself and those that are delegated to committees,the Senior Management Team, or senior officers. The scheme of delegation sets out provisions for urgent decision making and the reporting of such decisions to Chapter. The scheme of delegation is published on the Cathedral website. The Chief Operating Officer is responsible to Chapter for drafting a governance calendar each year to ensure that Chapter considers in the course of the year all key areas of responsibility. Committees of Chapter Members ofcommittees are listed on p20. A Finance Committee advises Chapter on matters of finance, investment and reserves. A Nominationscommitteeadvises Chapter on governance appointments and advises on training, skills, knowledge & experience and diversity. An Audit & Riskcommittee overseesfinancial reporting, audit, risk-management, cyber and data security and whistleblowing. Chapter is guided bya Safeguarding Advisory Group, with an independent chair. The College of Canons The College of Canons consists of the Bishop of Huntingdon, the Oean and Residentiary Canons, the Archdeaconsofthe Diocese, upto 25 Honorary Canons Iclergyl appointed by the Bishop and up to 14 Lay Canons appointed by the Bishop. Canons join in our worship and act as ambassadors for the Cathedral. The College of Canons has the responsibility of formally electing the Bishop of Ely, after the Bishop has been nominated for election by The King. Since the implementation of the Cathedrals Measure 2021, the College of Canons does not form part ofthe corporate body ofthe Cathedral, nor has a role in our governance. Thechurch of England The Cathedral is a Church of England body and is therefore subject to ecclesiastical law, including the canons of the Church of England. The Cathedral is a member of the Association of English Cathedrals, an unincorporated association representing the interests of English Anglican cathedrals. Recruitment and appointment of Chapter members Itrusteesl Chapter consists of the Dean and three Residentiary Canons (being executive members) and a larger number (currently six) of non-executive members. The Dean is appointed by His Majesty. The Residentiary Canons and one norFexecutive member of Chapter (thereby being the Senior No Executive Member) are appointed by the Bishop of Ely. The remaining non*xecutive members of Chapter are appointed by Chapter itself, on the advice of its Nominations Committee, a statutory committee ofchapter. The members of Chapter are listed on p20. 2024 Report 18 The Cathedral Church of the Holy and Undivided Trinity of Ely

Structure, governance & management Induction and training New members of Chapter are provided with copies of the Cathedral's constitution and statutes, our most recent annual report and financial statements, minutes of recent Chapter meetings, and other relevant documents. New members of Chapter are provided with opportunities to meet fellow members of Chapter outside formal meetings and supported in meeting members of the Cathedral's senior employees as part of their induction. All new members of Chapter are encouraged to participate in training provided by the Association of English Cathedrals to acquaint them with the role, function and responsibilities of Chapter. Refresher training on charity governance was provided to Chapter members in October 2024 by the solicitors Iwinckworth Shetwoodl who supported us in implementing the Cathedrals Measure 2021, in October 2022. Governancecode The Cathedral has adopted the Cathedral Governance Code issued by the Association of English Cathedrals. Chapter periodically reviews its application of the code, which was r&issued in January 2021. Chapter undertook an assessment of progress in applying the code in August 2022. Remuneration of key management personnel The stipends Ipayl of the Dean and Residentiary Canons are regulated by the Central Stipends Authority of the Church of England, in line with the Central Stipends Authority Regulation 1998. Chapter determines the remuneration of the Chief Operating Officer, on the advice of the Dean. The remuneration of senior staff Ithe Chief Finance Officer and department directors) is determined by Chapter on the advice of the Chief Operating Officer. Pay is set with regard to the pay of equivalent roles in English cathedrals of similar standing and with regard to the relevant job market locally. Ely Cathedral Trust Ely Cathedral Trust is an unincorporated charitable trust, registered with the Charity Commission under charity registration number 264803. The Trustees of Ely Cathedral Trust are the Dean and between six and nine others, appointed by Chapter and may include a further two members of Chapter. The Trustees are listed on p22. Ely Cathedral Enterprises Ltd Ely Cathedral Enterprises Ltd is a private company limited by shares, registered with Companies House under company registration number 01988081. Ely Cathedral is the sole member Ishareholderl. The Directors of Ely Cathedral Enterprises Ltd are appointed by Chapter and by convention include the Dean, the Chief Operating Officer and the Director of Communications & Commerce. The Directors are listed on p22. Auditors and professional advisors The Cathedral and our related entities retained auditors and professional advisors throughout 2024 as set out below. Auditors Price Bailey LLP Chartered Accountants & Statutory Auditors 6 High StreeL Ely, Cambridgeshire CB7 4JU Investment manager5 to Ely Cathedral Quilter Cheviot Limited One Kingsway, London WC2B 6AN Investment managers to Ely Cathedral Trust CCLA Investment Management Limited 80 Cheapside, London EC2V6DZ Solicitors Howes Percival LLP Terrington House, 13115 Hills Road, Cambridge CB2 1 NL Property agents Cheffins 1-2 Clifton Road, Cambridge CBI 7EA Bankers Barclays Bank PIC I Churchill Place, London E14 5HP Health & safety advisor Triquetra EHS Consultancy Ltd 48 College Road, Hoddesdon ENI 19DJ 2024 Report 19 The Cathedral Church of the Holy and Undivided Trinity of Ely

Structure, governance & management Office holders in 2024 and at the date of this report TheActing Bishop of Ely and Vi5itorof the Cathedral The Right Reverend Dr Oagmar Winter, Bishop of Huntingdon The Dean of Ely The Very Reverend Mark BonneyDL The Cathcdral Chapter Executive members: Non-Executive Members: The Dean and Re5identiary Canons The Very Reverend Maik Bonney DL. The Reverend Canon James Garrard. The Reverend Canon Tom Buchanan Canon Francis BurkittDL Canon Sarah Burles Canon Dr Felicity Cooke Canon Sirjonathan Jones KCB Kclhonl The Reverend Canon Jessica Martin lunti1SJ0nl￿ry202sj The Reverend Canon James Revele The Reverend Canon Jenny Wright. Ifrom 4Moy2025) Canon Tim Walters lunfi128June2024 andfrom I l July20241 By virtueof s 8(41 of the CathedralsMeasure2021, themembers ofchoprerarethecharity rrustees forthepurposes of the ChaiiriesAcr20F I. Canon FroncisButhDLiS theseniorNon-EYecutiveMemberofCI￿pter, byv1rtue0lhisopp￿nrMentbYlhe8lsh0p ofEty. Chief Officers Chief Operating Officer & Chapter Clerk Jonathan Bell FCA DChA' Statutory office holders Dirertor of Muslc Edmund AldhouseFRCO Chief Finance Officer Alison Binstead FCA Surveyor to the Fabric Clive England RIBA Cathedral Archaeologist Dr Roland B HarrisFSAMCIIA Director of Communications & Commerce LesleyAnn Thompson, Members ofrheSeniorMonogementGroup. Committees of Chaptcr Safeguarding Finance Committee Independent Chair of Ely Cathedral Canon Tim Walters Ichairl lunri128June2024ondfvom I l July20241 Safeguarding Advisory Group Canon Francis Burkitt DL Jon Chapman lunfil 70Apri12Q251 William Dastur FCA Adrian Kyndt George Lynn FCA The Revd Canon Jessica Martin lunri15Jonuary2025J Isobel Newport-mangell The Revd Canon James Reveley (from 31 Ociobei2024) Audit & Risk Committee George Lynn FCA (Chairl Eleanor AshendetTrField Charte￿d MCSI Canon Sir Jonathan Jones KCB KC Ihonl The Revd Canon James Reveley lunti130 Ocrober20241 Chapter safeguarding Lead The Revd Canon James Reveley Nominations Committee The Revd Canon Tom Buchanan (Chairl The Very Revd Mark Bonney DL (Dean) Canon Dr Felicity Cooke Canon Paul Evans lunri1300crober2024) Canon Simon Kershaw Ifrom 31 Ocrober2024) 2024 Report 20 The Cathedral Church of the Holy and Undivided Trinity of Ely

bi 11p1 :, I TheDean andResidenti0ry ons. 5ummer2024.'

Structure, governance & management Trustces of Ely Cathedral Trust David Green (Chairl The Very Revd Mark Bonney DL (Dean) Canon Paul Evans The Revd Canon James Garrard Peter Garside Jane Lewin-smith DLJP Isobel Newport-mangell lan Pattinson The Revd Canon Sir Ralph Waller K8E Fabric Advisory Committ¢¢ Richard Halsey FSA MBE (Chairl Hugh Richmond FSA Dr Julian Litten FSA FSAScoi lunri120 October20241 Prof Dr Claudia Marx Jeremy Musson FSA Dr Helen Lunnon FSA Scilla Latham The Rt Revd Stephen Platten FSA Secretary David Stazicker BEM lunril 18 October2024) Rebecca Mundy (from F80crober20241 Ely Cathedral Entcrpriscs Limited Company Secretary Alison Binstead FCA (Chief Finance Officer) (Choir) Directors The Very Revd Mark Bonney DL (Dean) Jonathan Bell FCA DChA (Chief Operating Officer) Adrian Kyndt Lesley Ann Thompson (Di￿a0r of Communications& Commerce) Hustings for thejuly 24 generale ion, chair ord Wilso Dinton. 2024 Report 22 The Cathedral Church of the Holy and Undivided Trinity of Ely

Structure, governance & management Thc College of Canons Members of the College at the date of this reportare listed below. ointme ai sford Ex officio The Rt Revd Dr Dagmarwinter The Very Revd Mark Bonney DL The Revd Canon James Garrard The Revd Canon James Reveley The Revd Canon Jennywright Theven Alex Hughes The Ven Richard Harlow Honorary Canons The Revd Canon James Blandford-Baker The Revd Canon Nicki Bland The Revd Canon Fiona Brampton The Revd Canon Tom Buchanan The Revd Canon Becky Dyball The Revd Canon Philip Howson The Revd Canon AlexanderJensen The Revd Canon David Karoon The Revd Canon Philipa King The Revd Canon Sarah Gower The Revd Canon Robert Mackley The Revd Canon David Maher The Revd Canon Nickmoir The Revd Canon David Male The Revd Canon Jeremy Morris The Revd Canon Annette Read The Revd Canon James Shakespeare The Revd Canon Janice Smith The Revd Canon WendyThomson The Revd Canon Eleanor Williams Etheldreda {ecumenical) Canons In addition to members of the College ofcanons, the Bishop has appointed a nurnberof Etheldreda Canons from the Catholic, Baptistand Methodist Churche5. Lay Canons Canon John Attwater Canon Francis Burkitt DL Canon Sarah Burles Canon Dr Felicity Cooke Canon Alex Gullon Canon Sir Jonathan Jones KCB KC Ihonl Canon Simon Kershaw Canon Loretta Minghella Canon Robert Needle Canon Elizabeth Taylor Canon Lisa Turner Canon Tim Walters Canon Catherine Watts The Rt Revd Peter Collins, Bishop of East Anglia The Revd Canon Gale Richards The Revd Canon Sir Ralph Waller KBE Cathedral dignitari¢s High Bailiff The Rt Hon The Lord Wilson of Dinton GCB 2024 Report 23 The Cathedral Church of the Holy and Undivided Trinity of Ely

Safeguarding Statement of compliance We confirm that we have complied with the duty to have due regard to the House of Bishop Safeguarding Policy and Practice Guidance. Principles Ely Cathedral.. is committed to safeguarding all those who attend worship and other activities accepts the prime duty of care for children and vulnerable adults follows recommended safeguarding practice in recruiting, training and supporting our ordained and lay ministers, our employees and our volunteers. follows the advice, guidance, policy and practice of the Church of England in promoting a safer church. The Church of England safeguarding policy statement for children, young people and adults is available on our website. The Cathedral retains a qualified Cathedral Safeguarding Advisor who is managed by the Diocesan Safeguarding Officer. Safeguarding administration is undertaken by the Cathedral's human resources team and Volunteer Manager. The role of the Cathedral's Safeguarding Advisory Group is outlined overleaf. External audit and action plan The Social Care Institute for Excellence audited the Cathedral's safeguarding arrangements and reported to Chapter in August 2019. A safeguarding action plan was produced to strengthen areas of our arrangements. The implementation of this plan was overseen by the Cathedral's Safeguarding Advisory Group and completed in 2023. The Cathedral's safeguarding arrangement will next be externally audited, by INEQE, in February 2026. Roles & responsibilities The Reverend Canon James Reveley is Chapter Safeguarding Lead, a role he holds on behalf of the Dean, who holds overall responsibility for safeguarding. The Residentiary Canons, the Chief Operating Officer and other departmental managers have safeguarding responsibilities. Since 2023, the Revd Canon Tom Buchanan has held the role of noTrexecutive safeguarding link. In this capacity, he acts as a point of communication between Chapter's non-executive members and safeguarding professionals on emerging safeguarding matters. Every formal meeting of Chapter receives a safeguarding report. In 2018, Chapter introduced a new structure for safeguarding in line with guidance from the House of Bishops. In 2023, Chapter adopted an updated safeguarding strategy, reflecting revised national guidance. This is being implemented during the course of 202 2026. Information sharing agreements The Cathedral is party to an information sharing framework agreement which enables safeguarding information to be shared appropriately between the Cathedral and other institutions of the Church of England and Church in Wales, as well as with the police forces of the United Kingdom. We have also entered into an information sharing agreement with INEQE. INEQE has been appointed by the Archbishops, Council to audit the safeguarding arrangements of Church of England dioceses and cathedrals. This agreement facilitates the 2026 Cathedral safeguarding audit. Cathedral Safeguarding Handbook Our handbook is reviewed annually by the Safeguarding Advisory Group. Chapter has the responsibility of approving recommended changes, which it generally undertakes in March each year. 2024 Report 24 The Cathedral Church of the Holy and Undivided Trinity of Ely

Safeguarding Safer recruitment Our human resources team supp)rts the embedding of consistent recruitment practice across the Cathedral. During 2023, 45 Disclosure and Barring Service I'DBS'I checks were processed by either the Diocesan Safeguarding Team, or by ucheck, for the Cathedral. We require enhanced DBS checks for those engaged in certain regulated activities, in line with Church of England guidance. Any new employee and volunteer requiring an enhanced DBS check must also complete a confidential declaration, repeated every three years. Cathedral Safeguarding Officers meeting This group is chaired by the Chapter Safeguarding Lead and attended by representatives from the Cathedral departments. Its chief purpose is to embed in practical terms safeguarding policies and practice, and provide a forum for raising challenges to practical implementation, which can be raised with the Safeguarding Advisory Group. Cathedral Safeguarding Network This is a national group, established in August 2020. It is a forum in which Cathedrals can discuss matters relevant to safeguarding within a cathedral setting. The Chapter Safeguarding Lead and Cathedral Safeguarding Advisor attended meetings in 2024 on behalf of the Cathedral and we participated in the sulFgroup for Chapter Safeguarding Leads. Training Safeguarding training is delivered under the House of Bishops, Learning and Development Framework 2021. Some safeguarding training is delivered iTrperson and some is delivered online. Training is provided at different levels Ibasic awareness, foundation and leadership) and for particular areas Idomestic abuse and safer recruitment). Those who have been trained must repeat training at the most advanced level every three years. In 2024, 58 training modules were delivered to members of staff and 95 to volunteers. Risk assessments & safeguarding agreements We welcome everyone to participate in our worship and life as a Cathedral, including those who may pose a risk to other people. Therefore, the holistic assessment of risks and the development of effective approaches to manage them is central to all safeguarding work. Our risk assessments are often complex, requiring partnership work with agencies such as social care authorities, probation services and the police. Safeguarding agreements are informed by the Church of England's standard risk analysis and assessment template. Safeguarding Advisory Group This group meets three times a year and has an independent chair. Membership consists of representatives from each Cathedral department, Diocesan Safeguarding Team members, a lay member with statutory safeguarding experience, the Head of King's Ely Junior School and the Designated Safeguarding Lead at King's Ely. The group facilitates discussion of safeguarding issues, drawing on a wide range of professional experience and expertise. It also offers advice, support and guidance on safeguarding p)licy and practice. We takethis opportunity to thankjon Chapman, who has chaired the Safeguarding Advisory Group since its inception, and stood down in 2025 (after the balance sheet datel. Casework During 2024, eleven contacts for advice Isix in 20231 were logged by the Diocesan Safeguarding Team in relation to the Cathedral. None met the threshold for referral to a statutory agency. They related to concerns around adult behaviour121, mental health and financial or domestic abuse181, and advice for a survivor of historical abuse11 l. None of these contacts related to concerns about the conduct of our clergy or staff. These eleven concerns were managed in line with the approach set out in our safeguarding handbook. Seven were resolved and closed during 2024. 2024 Report 25 The Cathedral Church of the Holy and Undivided Trinity of Ely

Safeguarding Casework management The Cathedral makes use of a national casework management system Myconcern, which was implemented in 2022. The system facilitates a standardised approach to recording, storing, accessing, sharing and managing information about safeguarding cases. This has involved the transfer of information from all paper records onto this system and the subsequent destruction of paper recoids. Reporting A5 well as this public4acing report of our safeguarding arrangements and activities, Chapter submits a more detailed report annually to the Bishop. Our 2024 safeguarding report was submitted to the Bishop on 31 March 2025 following its review and approval by Chapter earlier that day. The Cuthedrol Chori5ter5 September 2024 Il 2024 ￿eport 26 The Cathedral Church of the Holy and Undivided Trinity of Ely

Fundraising) finance & risk Fundraising standards We raise funds from the public. We therefore report under s62 of the Charities Act 2011 as follows: We undertake fundraising making use of our own internal resources. In 2024 we did not commission any external professional fundraiser or commercial participator, nor did we engage in door-t£Fdoor, street, or telephone fundraising. We actively recruit supporters and aim to develop longterm relationships with them. We raise money from charitable trusts and foundations, grant- making organisations and businesses. We ask people to consider leaving a gift to Ely Cathedral Trust in their wills. We raise money by organising and hosting events. We are registered with the Fundraising Regulator and have committed to follow the Fundraising Code of Practice. We use the code when training and supporting volunteer fundraisers. Chapter monitors our fundraising activities and no noTrcompliancewas found in 2024. We received no complaints in 2024 about our fundraising activities. We have adopted the principles of data protection law and we have policies to protect the data of vulnerable people and other members of the public from lal unreasonable intrusion on privacy,. Ibl unreasonable persistent approaches for the purpose of soliciting or otherwise procuring money orother property on our behalfand Icl placing undue pressure on a person. Investments Icathedral only) We hold certain funds in line with our reserves policy and certain funds as permanent endowment. We therefore have funds available for investment. Our investment powers are set out in the Cathedrals Measure 2021. Chapter may invest the Cathedral's funds in: land,. funds constituted under the Church Funds Investment Measure 1958; investments which fall under general powers of investment in the Trustee Act 2000,. and the improvement or developmentofour property. Aside from lal cash balances, which at the year-end were £89,00012023: £84,000) and Ibl our investment property, our funds are held in an investment portfolio. Our investment policy is reviewed annually and performance is monitored bythe Finance Committee and reported to Chapter. Our overall investment objectives are to: create sufficient income to contribute adequately to our mission and the cost of maintaining our heritage buildings and maintain and, if possible, enhance the value of retained investment funds. Unrestricted income and capital may be used at any time to further our aims. Performance compared to benchmarks In 2024 the investment portfolio generated a positive total return of 11.79612023: 1 7.￿). We monitorthree comparators and outperformed two of these in 2024.. CPI inflation plus 3.5%- 6.29612023.. 7.6961 A composite of market indices- 12.996 12023.. 11.1961 The steady growth charity index published by Asset Risk Consultants- 8.89612023: 7.5961 Risk appetite Moderat+to-high risk profile (modified from 'moderate' risk profile in 20241. Ethical policy We do not invest our funds in firms with significant income derived from arms, tar sands or thermal coal, alcohol, gambling, pornography, tobacco, high-interest lending or human embryonic cloning. We also exclude investment in firms lal with any significant income from fossil fuel extraction or Ibl whose operations, knowingly or unintentionally, cause or contribute to the abuse of human rights. 2024 Report 27 The Cathedral Church of the Holy and Undivided Trinity of Ely

Fundraising, finance& risk Long term financial perspective Given the expectation that the Cathedral will exist in perpetuity, we adopt a long-term approach to the Cathedral's finances. Unrestricted funds atthe end of each year £million, adjustedforCPI inflation Amongst our guiding financial principles are these three: Our finances should serve the Cathedral by providing resilience and a secure foundation for our life and work. We must reliably securethe income we need to fund the ministry of the Cathedral and pay for its maintenance and repair. We must balance the demands ofthe present with future needs. These financial principles lead us to aim for: Enough regular income to cover daTrt￿day expenditure. We have been focusing in recent years on eliminating our structural operating deficit. In 2024, the operating deficit (excluding investment movements} was £123,000, around 3Wo of total income 12023.. £371,000, around 1096 of income). We plan to achieve a balance of regular income and day-to-day expenditure in 2025 and have identified a number of specific actions to achieve this. The achievement of these actions is monitored by our Finance Committee and by Chapter. Diverse sources of income. We prefer a wide range of income, to maintain resilience- even at the cost of lower overall returns. This preference for a variety of income includes a balance between income given to us and income we generate ourselves. The diversity of the Cathedral's income in 2024 is shown in the chart on p29. A strong lon*term reserves POSltion to meet future needs, including careful stewardship of financial windfalls and endowments. The long-term evolution of unrestricted and total funds is shown in the charts opposite. Our approach to investment is discussed in more detail on p27. More detail about our reserves position is provided on p30. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Cathedral K Rest of group Total fund5 at the end of each year £million, adjusted for CPI inflation 25 20 io 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Cathedral Rest of group 2024 Report 28 The Cathedral Church of the Holy and Undivided Trinity of Ely

Fundraising, finance & risk The income of the Cathedral The pandemic years demonstrated to us the importance of generating income from a wide range of sources. This approach supports financial resilience and spreads risk. The chart below shows the variety of the Cathedral's income in 2024, and the balance between income la} generated by ourselves and Ibl given to us lin the form of grants, donations and legacies). Ely Cathedral Trust makes grants to the Cathedral from income generated from invested endowment funds, donations received from members of the Order of St Etheldreda, legacies received and other donations. Very significant grant-making from The Friends of Ely Cathedral in 2024 land in 20231 was made possible by legacies received by The Friends. Most of this grant-making relates to funding for a project replacing the Cathedral lighting. Otherwise, grants from The Friends are funded by membership subscriptions, fundraising events and donations received by them for the Cathedral's benefit. Income generated from retail activity and our restaurant Iboth operated by Ely Cathedral Enterprises Ltd during 20241 is included in the chart below under property income Irelating to the rents paid to the Cathedral for space occupied) and grant income Irelating to profits donated to the Cathedral under gift aid). A summary of the finances of each of Ely Cathedral Trust, The Friends of Ely Cathedral and Ely Cathedral Enterprises Ltd is included in note 23 to the accounts. In 2024 the Cathedral's income totalled £3,760,000 and came from the following sources: IEouivalentfigures fortotolincome of£3,87Q,QOOin 2023 shown in brockers.J Investmentincome 2% 12023..2%) Grants Irom Ely Cathedrol Trus¢ The Friends ofEIy Cdthedrdldftd other$ 37% 12023..42) Events 13% Income generated ourselve&' 54% 12023..43%J 12023..9%) Income given to us.. 40% Propertyincome 12% 12023.. 11%) Inctsme from the Chur¢h CommissioneT$ 7% 12023..$7%1 12023..5%) Visitor527% 12023..21) Congregotionalgiving4% 12023..396) 2024 Report 29 The Cathedral Church of the Holy and Undivided Trinity of Ely

Fundraising, finance& risk Reserves policy Chapter's reserves policy has been reviewed in light of revised Charity Commission guidance. Our full reserves policy is published on our website, a summaryofwhich is outlined below. Our policy has three aims: Short term.. to hold enough cash balances across the Group to meet da￿t0-daY operational cash needs. Plans to build reserves Our short term reserves in the form ofcash balances are within our target range. Our medium lerm reserves in the form of unrestricted free reserves are expected to reach the target level by 2029 by continuing to transfer excess investment returns from endowment funds into general funds at the rate of around £300,000 annually. Our long term reserves in the form of total funds held by Ely Cathedral Trust are significantly below the target range. Ely Cathedral Trust plans to increase the level of total funds over the next several years by lal moderating the level of grants given to the Cathedral in the short term, Ibl exercising careful stewardship of financial windfalls, Icl continuing to achieve a total return on invested funds in excess of the level required to fund the portfolio of annual grants and Idl fundraising. This approach has enabled Ely Cathedral Trust to grow the value of total funds from £7.9m in 2018 to £11.9m in 2024. On this trajectory, we estimate reaching the target range for total funds at some point soon after 2030. Monitoring & reporting Chapter's Finance Committee monitors the reserves position and routinely reports to Chapter. Chapter monitors the position as follows.. short term reserves, by regularly forecasting group cash balances compared to the target range for at least 12 months ahead. medium term reserves, by periodically lat least annually) reviewing the unrestricted free reserves position across the group and comparing this to the target. lon*term reserves, by reviewing with the Trustees of Ely Cathedral Trust their progress in meeting their own aims to grow the total funds under their stewardship to the targeted level. The Cathedral Chapter, on the advice of the Finance Committee, monitors and reviews the reserves policy annually. Medium terny to hold sufficient unrestrirted free reserves to address identified uninsured risks we face. Long term.. to hold appropriate total fund5 in Ely Cathedral Trust to generate income to fund the ministry of the Cathedral that cannot otherwise by secured by the Cathedral alone. Reserves compared with target5 Our target for short term reserves in the form of cash balances is between £365,000 and £610,000, with a central target of £485,000. At 31 December 2024, Cathedral cash reserves were £89,00012023'. £84,000), and group cash reserves were £403,00012023: £457,000). These were, therefore, within our target range. Our target formedium term reserves in the form of unrestricted free reserves is £5.4m. At 31 December 2024, the total unrestricted free reserves of the Group amounted to £4.2m. This is calculated as: £000 Total unrestricted general funds (excluding revaluation reserves etcl Lesx tangible fixed assets Les& real property, within investments Total 7,125 17261 12,2401 4,159 These were, therefore, 22% below target. Our target for long term reserves in the form of total funds held by Ely Cathedral Trust is between £17.Om and £21.3m. At 31 December 2024 Ely Cathedral Trust held total funds of £l1.9m12023: £11.6ml. These were, therefore, 30(YA3% below the target range. 2024 Report 30 The Cathedral Church of the Holy and Undivided Trinity of Ely

• • • • • • • • • • • • • • • • • • •

Decarbonisation Whatwe publish and why At present, we are not required by law or regulations to report on the Cathedral's energy use and associated greenhouse gas emissions. Nevertheless, we have aligned ourselves with the Church of England's ambition to reduce carbon dioxide emissions to net zero by 2030. We have therefore opted voluntarily to publish: Ourannual UKenergy use in Megawatt hours I'mwh'l, relating to gas and purchased electricity and associated greenhouse gas emissions in tonnes of carbon dioxide equivalent ICO2el The methodologies used to calculate the required information A narrative ofmeasures takento improve energy efficiency in the period of the report lor, if no measures have been taken, to state that this is the casel the prior year equivalent figures, for comparison. This information Iwith the exception of an 'intensity ratio,, comparing emissions data with another metric or indicator) means that we are reporting in a way that is consistent with the governmenys StreamlinedEnergy and Carbon Reporting policy as set out in regulations of 2018. Buildings in scope We follow the Church of England's approach to determining which buildings are in scope for the 2030 net-zero target. This is set out in a plan of action called the Routemop, which was approved by General Synod in July 2022. This is available online and sets out in detail what is- and is not- in scope for the 2030 target. Within the scope of the target are: lal all buildings within the Cathedral precinct, excluding the energy use of tenants Ibl church halls and ancillary buildings Icl clergy housing. For us, the buildings therefore in scope are: The Cathedral Church building The Chapter Office & Deanery (the two buildings are integrated) The Cathedral Centre The Almonry Kitchen restaurant Clergy housing: The Precentor's House, The Black Hostelry and Powcherfs Hall (which includes two large ground-floor meeting rooms in Cathedral usel It is Fx)ssible that, over time, buildings will fall in or out of scope as a result of changes in use. If so, we will rebase our figures and be transparent about this to ensure that comparison over time is fair. What about buildings not in scope7 The Cathedral owns many buildings which are leased either to King's Ely, or to commercial or residential tenants. We are required to ensure that buildings leased to commercial and residential tenants meet certain energy performance standards. Energy performance is certified by independent professional accreditors on a scale of A to G. The standard we must meet is gradually increasing over time and we continually work to ensure that all of these buildings meet or exceed minimum standards. From l March 2023, all commercial properties must have a minimum energy performance standard of E. This is set out in the minimum energy efficiency standards, which were introduced in March 2015 by the Energy Efficiency (Private Rented Property) IEngland and Wales) Regulations 2015, following the Energy Act 2011. Despite the age and sensitivity of many of our buildings, we have succeeded in ensuring that all of our commercial properties meet or exceed this standard. 2024 Report 32 The Cathedral Church of the Holy and Undivided Trinity of Ely

ELY CATHEDtUL Wildflower Bed - And weeds that bloomed in summer hours I thou9ht they should be reckoned flowers They made a garden free forall And so I loved them, great and Small... Norc But I pass the thistle by and thought it could not be a weed esy. John Clore 1793-1864 Native wildflowers have been sown in this area to provide a food source for pollinators. Pollinator5 are essential t(fgrow much of our food. Every third mouthful we eat relies on pollination. wever habitat loss in the UK means many pollinators are in ecline.These wildflowers, along with the ones in the Physick onry Gardens, will help support bees, hoverflies and nsects. and therefore our environment. Please enjoy ourwildflowers, but please don't walk on the flowerbed or touch the plants as some May be irritants or .¢en toxic tosome. -rhis area has been sown and maintained thanks to the ienerous voluntary work of members of the congregation and local community... For more detailed information about our Work to improve blodiversity. please see our website: www.elycathedral.org

Measures taken in 2024 to improve energy efficiency In 2024, energy-efficient lighting continued to be used to illuminate the lantern of the Cathedral. This lighting replaced less efficient metal-halide lamps in the summer of 2021. Throughout 2024, we have continued to source all of our electricity on a green energy tariff. During the course of 2024, further detailed decarbonisation reports for our buildings were received from Joel Gustafsson Consulting, whose work with us is funded by Ely Cathedral Trust. These reports provide detailed proposals to reduce emissions created by heating the irFscope buildings. Having received a report this year for the Almonry Restaurant, we were pleased to secure funding from the Church of England Net Zero Demonstrator Fund and from Ely Cathedral Trust to replace an existing gas system with a system powered by an air source heat pump. This work was completed in March 2025 (after the balance sheet datel. It is expected to result in a reduction of at least 80% in carbon dioxide emissions created by heating the building and contribute to a 14 tonne (five percentage pointl reduction in our total carbon dioxide emissions from energy use. In 2024, we completed a £1.5m project to replace all of the lighting inside the Cathedral Church building with a low-energy and sustainable alternative. We are hugely grateful to The Friends of Ely Cathedral for funding this work from bequests received. In 2024 our energy use increased by around 996 and we are looking into the reasons for this. Even so, carbon emissions from our energy use remained stable, largely due to the continuing decarbonisation of the national electricity supply. Our relevant carbon emissions therefore remained at 440/0 below the peak in 2019. Annual energy use (gas & purchased electricity) Mwh Annual energy use forallbuildings within the scope of the2030net-zero target Annual carbon dioxide emissions from energy use Tonnes of CO2e Carbon dioxide equivalent emissions asSOClated with energy use forall buildings within the scope of the 2030 net-zero target 2.103 Electricity 1,876 439 Electricity Gas 409 Gas 1.312 1.365 1,406 1,222 1.335 64 267 268 255 255 2018 2019 2020 2021 2022 2023 2024 2018 2019 2020 2021 2022 2023 2024 Methodologies Used to calculate energy use and carbon dioxide equivalent emissions Energy use is calculated from metered readings provided by the Cathedral's energy brokers and suppliers. Carbon dioxide equivalent emissions are calculated by multiplying energy use by the relevant carbon factor (published by the Department for Energy Security and Net Zero and the Department for Business, Energy & Industrial Strategy) for that year for the relevant energy source. 2024 Report 34 The Cathedral Church of the Holy and Undivided Trinity of Ely

The responsibilities of Chapter Chapter is responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires Chapter to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Cathedral and of the incoming resources and application of resources of the Cathedral for that period. In preparing these financial statements, Chapter is required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019 IFRS 1021; make judgements and estimates that are reasonable and prudent-, State whether applicable accounting siandards have been followed,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Cathedral will continue in operation. Chapter is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Cathedral and enable Chapter lo ensure that the financial statements comply with the Charities Act 201 I, the Charities IAccounts and Reports) Regulations 2008 and the provisions of the Cathedral constitution. Chapter is also responsible for safeguarding the assets of the Cathedral and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The 2024 report was approved by Chapter on 19 May 2025 and signed on its behalf by The Very Reverend Mark Bonney DL Dean of Ely Canon Francis Burkitt DL Senior NoTrExecutive Memberofchapter Jonathan Bell FCA DChA Chief Operating Officer Alison Binstead FCA Chief Finance Officer 2024 Report 35 The Cathedral Church of the Holy and Undivided Trinity of Ely

Ind¢pendent auditors, report to the m¢mbcrs of Chapter of Ely Cathedral for th¢ y¢ar ¢nd¢d 31 Dec¢mber 2024 Opinion We have audited the financial statements of Ely Cathedral for the year ended 31 December 2024 which comprise the consolidated statement of financial attivities, the consolidated balance sheet, the Cathedral Statement of financial activilies, the Cathedral balance sheet, the consolidated statement of cash flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practicel. Conclusions relating to going concern In auditing the financial statements, we have concluded that Chapter's use of the going concern basis of accounting in the preparation of the financial statements Is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may casl significant doubl on the Chapter's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for Issue. Our responsibilities and the responsibilities of Chapter with respect to going concern are described in the relevant sections of this report. In our opinion the financial statements: give a true and fair view of the state of the Cathedrafs and group's affairs as at 31 December 2024, and of the Cathedral's and group's incoming resources and application of resources, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been properly prepared in accordance with the requirements of the Charities Act 2011. Other information The other information comprises the information included in Chapierfs annual report, other than the financial statements and our auditorfs report thereon. Chapter is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the oiher information and, in doing so, consider whether the other information is materially incons1Stent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.we have nothing to report in this regard. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further deKribed in the Auditorfs responsibililies for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UL including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a bas15 for our opinion. 2024 Report 36 The Cathedral Church of the Holy and Undivided Trinity of Ely

Independent auditors, reporttothe members of Chapter of Elycaihedral for the year ended 31 December 2024 Matters on which weare required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities IAccounts and Reportsl Regulations 2008 require us to report to you if, in our opinion.. the information given in Chapterfs annual report IS inconsistent in any material respect with the financial Statements,. or Irregularities, including fraud, are instances of norF compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.. We gained an understanding of the legal and regulatory framework applicable to the Cathedral and how it operates and considered the risk of the Cathedral not Complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements. In relation to the Cathedral this included safeguarding, data protection, health and safety, employment law and financial reporting. The risks were discussed with the audit team and we remained alert to any indications of norFcompliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following: Reviewing minutes of Chapter meetings, reviewing any correspondence with the regulatory bodies, agreeing the financial statement disclosures to underlying supporting documentation, enquiries of management of the Cathedral. Management override- To address the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness. We reviewed systems and procedures to identify potential areas of management override risk. We also assessed management bias in relation to the accounting policies adopted and in determining significant accounting estimates, including treatment of legacies and the valuation of investments, and a retrospective review of estimates from prior periods. We reviewed the risk management processes and procedures in place. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial Statements or norF(ompliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non<ompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. sufficient accounting records have not been kept,. or the financial statements are not in agreement wilh the accounting records., or we have not received all the information and explanations we require for our audit. Responsibilities of Chapter As explained more fully in the Chapter responsibilities statement set out on p35, the Chapter is responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the Chapter determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Ihe Chapter is responsible for assessing the Cathedral's ability to continue as a going concern, disclosing, as applicable, matters related io going concern and using the going concern basis of accounting unless the Chapter either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so. Auditors. responsibilities for the audit of the financial statements We have been appointed as auditor under section 1513 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives a￿ to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but Is not a guarantee that an audil conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Mi5Stètements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on ihe basis of these financial statements. 2024 Report 37 The Cathedral Church of the Holy and Undivided Trinity of Ely

Independent auditors, reporttothe members of Chapter of Elycaihedral for the year ended 31 December 2024 A further description of our responsibilities is available on the Financial Reporting Councils website ot.. bttpslt Our-wo Audit-arKkassuran u￿ance fKkrd r£sWDth￿.ThI$deSCrlpt1on forms part of our auditor's repoit. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the Chapter members as body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken for no purpose other than to draw the attention of the Chapter members to those matters which are required to be included in an auditor's report addressed to them. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Chapter and the Chapter members as a body, for our audit work, for this report, or for the opinions we have formed. Prtiwty LLF Price Bailey LLP Chartered Accountants & Statutory Auditors 6 High Street, Ely, Cambridgeshire CB7 4DL 21 May 2025 Price Bailey LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 2024 Report 38 The Cathedral Church of the Holy and Undivided Trinity of Ely

Financial statements 39

Financial statements Consolidated statement of financial activities for the year ended 31 December 2024 2024 2023 Llnrestricted 9eneval Llnrestrict¢d d¢signat R￿tricted Endowm•nt Totsl Total Nore £000 £000 £000 £000 £'ooo £'ooo In¢om• & •ndowm•nts from: Donations & legacies.. lil Donations 327 346 43 261 596 350 447 1.355 273 235 Charitable activities 5a 420 420 345 Othertrading activities Investments 2.378 2.378 2.099 162 95 155 412 394 Transfers from endowment 20.1 300 13001 Total incorne 3.976 764 11371 4.603 4.701 Exp•ndltur•on: Raising funds Charitable activities 1.592 43 1.635 1.570 7/8 lil Ministry lill Cathedral & precincts upkeep liiil Education & outreach livl Community, parish & congregation Other expenditure 698 694 275 431 774 1.129 1,475 371 1.129 1.824 392 122 22 19 50 Total •xp•ndltur• 3.362 4,735 5,087 N•t Incom•ll•xp•ndltur•l b•for• 9alnsl IlossKI on Imi•rtm•nts Net gains on listed investrnents Net Ilossesl on property investments 614 10021 11371 11321 13861 103 116 505 1.190 72 iiooi iiooi N•t In¢Om*ll•x￿ndItUr•l Transfers between funds 800 171 14991 1211 273 20 15371 603 1661 Net movementinfvnds 263 104 1871 273 Reconciliatitsn tofunds: Total fundg brought forward Total funds ¢arrl•d forward 7.871 100 4,560 5,454 17,985 8.134 93 5.367 18.258 17.985 Thenotesonpages45 to 72 formpartof theseaccounts. 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Financial statements Cathcdral-only statemcnt of financial activities for the year ended 31 December 2024 2024 2023 Unrestrlaed 9eneval Unrestrlaed d¢signated R￿lI1£ted Endowment Tolal Total More £000 £000 £000 £000 £000 £000 Income & endowrnentsfrorn: Donaiions & legacies.. lil Donations 289 972 1,261 28 235 43 447 Charitable activities 5a 345 Othertrading activities Investmenrs 1,483 1,483 1,241 79 79 77 Total In¢om• 2.383 1.376 3.759 3.870 Expendituregn: Raising funds 744 43 787 764 Charitable activities 718 698 708 275 431 775 1.129 1.490 371 1.127 1.822 390 lill Cathedral & precincts upkeep liiil Education & outreach livl Community, parish & congregation Other expenditure 22 Total •xp•ndltur• 2,509 1,367 3,883 Netexpendituve before 9alnsl llos$￿> on Imi•rtm•nts Net gains on listed investments Net Ilossesl on property investments Nel incomellexpenditurel Transfers between funds 11261 171 11241 13711 219 28 247 218 72 iiooi 171 171 37 23 11531 20 N•t mov•m•ntlnfvb)d% 171 37 23 11531 Reconciliation tolunds: Total fundg brought forward Total funds ￿rrIed fo￿ard 5,052 1,202 6,354 6,507 5,045 93 1.239 6.377 6.354 Thenotesonpages 45 ro72 forrytpartofthe5e accounts. 2024 Report 41 The Cathedral Church of the Holy and Undivided Trinity of Ely

Financial statements Consolidated balance sheet at 31 December 2024 2024 2023 Llnrestrict¢d geneval Llnrestrid•d d￿ignated R•strictqd Endowm•n¢ Total Total More £000 £000 £000 £000 £000 Fixed •55et5 Tangible a$￿S Investments 74 10 726 7.75S 38 4.502 764 17,460 5.203 17.068 Total fix•d as￿1$ 8,481 5.203 18,224 17.874 Curr•nt assrfs Stocks Debtors Cash ai bank and in hand 16 77 78 78 97 78 266 403 93 288 457 93 128 Total turr•nt •$s•ts 366 93 124 164 747 838 Cr*dltors: amounts fallln9 du•wlthln one year 79 14491 14491 14361 Net <urrent a59etsllli•bilitiesl 1831 93 124 164 298 402 Creditors: amountsf•llin9 dueafter moreihan onè year Total n•t a$s•ts 79 12641 12641 8,134 93 5,367 18,258 17,985 Th•funds of th•group: General fund Organ fund Fabric fund Music fund Other funds Revaluation reserve 7,215 7.215 93 3,875 5.247 916 912 6.851 100 3.929 5.214 879 1,012 93 3.389 1,978 3.264 914 912 Total fubKIs 8.134 93 5.367 18.258 17.985 Appro¥•d byChaw•r•n 19 M)y2025 and $1gn•d On Its b•half by Thevery Reverend Mark BonneyDL Dean of Ely Canon Fr•nci9 8urkitt DL Senior NO￿EXecutive Member of Chapter Thenotesonpages45 to 72 foimpartof theseaccounts. 2024 Report 42 The Cathedral Church of the Holy and Undivided Trinity of Ely

Financial statements Cathcdral-only balance sheet at 31 December 2024 2024 2023 Unrestrlded 9enev•l Unrestrlded d￿ignated Restvlcted Endowme Total Total Note £000 £000 £000 £000 £000 £000 Fixed asset5 Tangible a$￿S Investmenrs 74 70 709 4,756 38 1.134 747 5.890 5,756 Total fixed assets 5A65 1.172 6.637 6,544 Current 4$5et5 Stocks Debrors Cash ai bank and in hand 16 77 78 267 21 93 360 407 84 67 Total <urr•nt •$s•ts 297 93 67 457 500 Creditors: amounts f•lling duewithin one year 19 14531 14531 13991 Nel <urrent a55ets 11561 93 67 Creditors: amountsf•llin9 dueafter more than one yèar Total n•t ass•ts 79 12641 12641 5,045 93 1,239 6,377 6,354 Th•fundsof th•Cath•dral: General fund Organ fund Music fund Other funds Revaluation reserve 4.126 4.126 93 225 1.021 912 4,032 93 220 1.019 226 912 1,012 Total funds 5.045 93 1,239 6,377 6,354 Appro¥•d byChaw•r•n 19 M)y2025 and $1gn•d On Its b•half by Thevery Reverend Mark Bonney DL Dean of Ely Canon Fr•nci9 8urkitt DL Senior NO￿Executive Member of Chapter Thenotesonpages45 to 72 foimpartof theseaccounts. 2024 Report 43 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 Consolidatcd statcrnent of cash flows 2024 2023 More £OOO's £OOW5 £'OOOs £'0005 Cash flo￿ Irom operating artivities: Net cash provided by I (used inl operating activities See below 13691 16781 Cash flows from investing artivities: Incorne from investments Tangible assers. additions Tangible assers: disposals Investment assets.. additions Investment assets.. di5P05als 412 1751 394 1581 74 74 74 10 15581 538 14951 Net Cash provided by/ Iu5ed inl investing activities 317 330 Cash llowsfrom financing •Ctivitie5 Bank loan ￿payMentS Change in <4sh and equivalents in theyear 79 1271 1221 21 1791 13701 Cash and cash equivalents at the stari of the year Change in cash and cash equivalents in the year Cash ar*d cash equivalentsatthe end of theyear 27 27 13701 21 490 R•¢on<Sllatlon of Mt In¢om• to ￿$h Inflowfrom op•railng a¢tlv1tl￿. Net income for the year 273 Adjustments for.. Depreciation of tangible asset5 Loss / Iprofitl on sale of tangible assets Income from investments (Gainsl / losses on invesimenis Decrease in stocks Decrease/ linc￿ase) in debtors Increasel (d￿reaSe) in creditors 14 74 13941 70 16 77 79 13991 23 1791 85 N•t<ash lus•d Inll provld•d by op•ratln9artl¥ltl 13701 16781 See note 21 for an analysis ofash and c45h equivalents ard net debt. Thenotesonpages45 to 72 formpartof theseaccounts. 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 Notes to the financial 5tatcments for the year ended 31 December 2024 Prin<ipal accounting poli<ies Basis of preparation The Cathedral constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Chèrities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 20191 the SORP'I, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 201 I, and UK Generally Accepted Accounting Practice. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a'true and fair view. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April 2005 which has since been withdrawn. Following the pandemic years of 2020 and 2021, the Cathedral and Group has returned to normal levels of attivity. The Cathedral has, however, had to respond to a period of significant inflation in 2021 and 2022. This has been felt particularly in employee pay and in higher energy costs. This meant that in 2023, routine costs significantly exceeded regular and reliable income. This excess of routine costs over regular and reliable income was greatly reduced in 2024. Chapter has identified a number of steps to achieve an excess of reliable income over routine expenditure by the end of 2025. The majority of these steps involve increasing the net income generated by the assets available to the Cathedral, rather than through reducing expenditure. The Cathedral has continued to make good progress in meeting this aim in 2024. Chapter has prepared cash flow forecasts through to the end of 2026 which demonstrate that cash reserves will continue to meet liabilities as they fall due. Chapter therefore coniinues to adopt the going concern bas15 in preparing these financial statements. Heritage assels Heritage assets held by Chapter are of historical, spiritual or artistic importance and are held and maintained principally for their contribution to knowledge and culture or held to advance preservation or conservation objectives. Heritage assets include the Cathedral and items in the inventory prepared under section 18 of the Charities SORP and under the Care of Cathedrals Measure 2011. The accounts are presented in sterling, which is the functional currency of the Group, and rounded to the nearest thousand pounds. Consolidation The results of the Cathedral's subsidiary company, Ely Cathedral Enterprises Ltd, and Ely Cathedral Trust, a charity established for the benefit of the Cathedral, are consolidated in these accounts on a line by line basls under the appropriate headings in accordance with the SORP. Chapter considers that the cost of obtaining a valuation of the historic heritage assets in its care would be disproportionate when compared with the benefit derived by the useTS of the accounts. No value is attributed to items included in ihe Cathedral inventory as, being of architectural, archaeological, artistic or historic interest, they are for Cathedral use and cannot be measured at a monetary value with sufficient reliability. Any addilional heritage assets acquired will be brought into the accounts at an independently determined valuation, and a record of movements maintained. Acquisitions of heritage assets are largely by donation. No such items have been donated this year. The heritage assets are deemed to have indeieiminate lives and Chapter does not therefore consider it appropriate to charge depreciation on future acquisitions. Expenditure which is required to preserve or prevent deterioration of the heritage assets IS recognised in the statement of financial activities when it Is incurred. The Cathedral Consolidated Financial Statements include Ely Cathedral Trust on the basis that the Trust is a"special trust" in accordance with section 12 of the Charities Act 2011. In addition, the Cathedral is connected with The Friends of Ely Cathedral, which does not meet the criteria for cons01idètion. Further details are provided in note 23. Going (oncern Chapter has considered whether the use of the going concern basis of accounting is appropriate. To do this, we have considered whether there are any material uncertainties as to the Cathedrafs and Group's ability to continue as a going concern. 2024 Report 45 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 Principal accounting policies Icontinuedl Investrnent properties Investment properties have been included in the accounts at their market value in accordance with the SORP. These properties have been acquired or built by Chapter principally for investment purposes. Other properties Also in accordance with the SORP, Chapter has not included the former monastic and ancillary buildings falling within the Cathedral precinct las defined by the Care of Cathedrals Measure 20111, which are expected to be held in perpetuity. However, the insurance value of these properties is included in note 13 to the accounts. The insurance values are not considered aPPTopriate foi accounting purposes. Given the nature of these very ancieni properties they have no reliable cost information available and a conventional valuation approach is noi considered reliable. Furthermore, due to the ancient nature of these buildings, their depreciated replacemeni cost is deemed to be nil and they are not readily able to be disposed of by the Cathedral. These properties are in use for a variety of purposes, including as clergy residences, a chapel, trading outlets, to house Chapter's administrative functions and by King's Ely lan independent school with historical connections with the Cathedrall as dormitories for choristers and other pupils, as a dining hall, as teaching space and for other school purposes. Some properties are let to commercial or residential tenants to help offset the cost of maintaining and repairing the properties in the Cathedral precinct. Inve51menlS Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measuwed at their fair value as at the balance sheet date, using the bid market price. The Statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Cathedral and Group do not enter directly into put Oplions, derivatives or other complex financial instruments. The main form of investment risk faced by the charity is risk to investment income caused by volatility in investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. Investment income, gains and105ses are allocated to the appropiiate fund. Fixed a55elS PlanL machinery, office equipment,100se tools, furniture and fittings and any other assets that are not included in the inventory are capitalised and written off over their estimated useful life as follows: Fixtures & fiitings.. Straight line over 4- 25 years Office equipment.. Straight line over 3-10 years Plant & equipment: straight line over 4- 100 years Items below £500 are not capitalised and are written off in the Statement of Financial Activities. Buildings under construction are held at cost and not depreciated. Once the asset is brought into Use, the asset will be transferred to freehold buildings and depreciation will be charged based on the above bas15. The costs of repairs and maintenance of the Group are charged to the General Fund. Most of the major restoration works are funded by grants, donations or by Ely Cathedral Trust and are charged to restricted funds. Sio<ks Stocks are valued at the lower of cost and net realisable value. Income All income is included in the Statement of Financial Activities ISOFAI when.. the Group is legally entitled to the income after any performance conditions have been mel, the amount can be measured reliably and it is probable that the income will be received. Legacies The recognition of income from legacies is dependent upon establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when lal the Group has sufficient evidence that a gift has been left to it Ithrough knowledge of the existence of a valid will and the death of the benefactor) and Ibl the executor has communicated to the Group that the legacy in question will not be required to satisfy claims in the estate. When entitlement to a legacy has been established, its receipt must be recognised when lil it is probable that it will be received and lill the fair value of the amount receivable can be reliably measured. If entitlement to a legacy has been established but the criteria for recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. During the year Chapter has clarified the definition of entiilement regarding income recognition for legacies, as reflected in the wording above. This is considered to be a change in accounting estimate and has been applied on a proSp￿tive basis and therefore has no impact on the comparative figures. 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 Principal accounting policies Icontinuedl Grant5 Grants are accounted for on an accruals basis. They are recognised when the Group has entitlement to the funds, any performance conditions attached to the grants have been meL it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for a grant relating to the following year is deferred until the criteria for income recognition are met. Donations and othev in<ome Donations and other income are recognised at the point of receipt. Third partyi non-£a5h re<eipts and payments, and donated assels Amounts paid on behalf of the Group are included in the Statement of Financial Activities under both income and expenditure. Where grants, donations (whether of cash or assets) and legacies are made subject to restrictions, they are included in the Statement of Financial Attivities as income of restricted or endowment funds and matched against relevant expenditure. When ihe restricted amount relates to the purchase of a depreciable asset, the amount is credited to the restricted fund in the Statement of Financial Activities and an amount is debited io the fund each year in respect of the depreciation of the asset. Expenditure All expenditure is accounted for on an accruals basis. Any irrecoverable VAT is charged in the statement of financial activities or capitalised as part of the cost of the related asset as appropriate. Governance costs include those incurred in the governance of the Group and its assets and are primarily associated with constitutional and statutory requirements. Support Costs are those costs incurred directly in support of expenditure on the objects of the Group. Pension contribulions Chapter operates three pension schemes. Pension contributions are charged to the statement of financial attivities when they are payable. See more details in relation to this in note 3.1. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisltion or opening of the deposlt or similar account. Creditors CreditOTS are recognised where the Cathedral has a present obligation resulting from a past event that will probably result in ihe transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Financial instruments The Cathedral only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Fixed assets are recorded at depreciated historical cost or revaluation, investments are recorded at their fair value which is the market value as disclosed in note 10 and all other assets and liabilities are recorded at cost which is their fair value. Signifi<ant accounting judgements, estimates and assumption5 The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported foi income and expenses during the year and the amounts reported for assets and liabilities at the balance sheet date. However, the nature of estimation means that the attual outcomes could differ from those estimates. There were no key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities at the balance sheet date. 2024 Report 47 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 Funds Funds are divided between unrestricted (some of which are designated), restricted and endowment. Unre$trirted funds These can be applied for any of the purposes for which the Chapter was established. The main unrestricted fund is the General Fund through which are passed all the regular items of income and expenditure relating to the daNo-day running of the Cathedral. Within unrestricted funds are Designated Funds which represent funds which Chapter has set aside for a specific purpose. Current designated funds relate to Music and the Flower Guild. If in due couTse they are not required for the specific purposes, they may be transferred back to the General Fund. These funds ale set out in note 20. Restricted funds These may only be applied for particular purposes as specified by the donor or Cathedral statutes. Restricted funds under the control of Chapter are set out in note 20. The main restricted fund is held by Ely Cathedral Trust. Endowment funds All endowment funds are currently held by Ely Cathedral Trust. These are set out in note 20.1. They are for the provision of income for the continual maintenance of the Cathedral and its precincts and various funds to provide income towards Chorister scholarships. Throughout the year, the Trustees of Ely Cathedral Trust have managed, and accounted for, the permanent 21 st Century Fund on a total return basis. The unapplied total return is the amount of the fund over and above the base level of endowment as calculated at 29 April 2021 when the basis was first adopted. The Trustees agreed this base level should be the value of the endowment as calculated as the original amount received uplifted for inflation linked to CPI totalling £1.973M. The total return each year remains part of the endowment fund, until it is transferred to the general fund and becomes"applied total return" The transfer is shown in the table in note 20.1 and on ihe statement of financial activities. Employee informalion The average number of employees during the year, exclusive of clergy, was 3512023.. 351 full time and l 0112023- 861 part time. The full time equivalent number of employees was 6312023.. 751. The total emoluments paid to employees (excluding benefits) were as follows: 2024 2023 Clergy £OOOs Laystaff £LKKIs Total Clergy £000 Lay staff £o(h) Total £000 Wages and salaries including stipends Social security costs Pension cosrs 136 1,845 134 81 1.981 145 110 1.804 107 58 1.935 122 88 29 30 Total •molum•b)ts 177 2.060 236 176 1,969 145 No redundancy Costs were paid in the year12023: none). One12023.' one) member of staff received emoluments of between £70,OW and £79,999. No member of staff received emoluments of between £60,000 and £69,99912023- none). The Church Commissioners finance directly the stipend, pension and associated employer's national insurance contributions of the Dean and two Residentiary Canons (executive members of Chapter). Housing is provided by Chapter for the executive members of Chapter, being the Dean and three Residentiary Canons. No remuneration is paid to norF executive members of Chapter. The remuneration and pension provision for executive members of Chapter IS in accordance with scales laid down by the Central Stipends Authority of the Church of England, in line with the Central Stipends Authority Regulation 1998. The key management personnel of the Cathedral are the Dean, the Residentiary Canons, the Chief Operating Officer, the Chief Finance Officer and the Director of Communications & Commerce. The total amount of benefits received by key management personnel is set oui below. 2024 2023 5alaryor Stipend £OOs PeTh$￿n 5alaryor Stipend £000 Pension £000 £000 Total b•n•fits l•x<ludlng ih• valu•of hou$ln91 r•cdv•d byk•y management personnel 322 35 307 36 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 Pension schemes During the year the Cathedral has operated a total of three pension schemes, one of which has two sections. Details of these schemes are as follows.. NOW Pensions The Cathedral operates a money purchase defined contribution pension scheme with NOW Pensions. NOW Pensions scheme was established as at l May 2014 as the auto enrolment scheme and is a qualifying workplace compliant group personal pension scheme. Contributions into the NOW Pensions scheme in 2024 were 3.5%12023: 3.5%) employee contribution and 3.5%12023.. 3.5%) employer contribution. Contributions made to the schemes during the year were £40,32212023.. £50,821 l and the liability at year end was £5,32812023.. £4,544). The number of employees to whom benefits are accruing under the scheme is 4112023.. 451. Chur<h of England Funded Pensions Scheme Ely Cathedral previously participated in the Church of England Funded Pensions Scheme ICEFPSI for stipendiary clergy. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Cathedral and the other participating employers. No new members joined the scheme during the year. The Cathedral is a minor responsible body and had no liability to the scheme at the year end12023.. £nill. Churih Worker5 Pension Fund (Pension Builder Classic & Pension Builder 20141 Ely Cathedral participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of Ely Cathedral and other participating employers. CWPF has two sections: the Defined Benefits Scheme the Pension Builder Scheme, which has two subsections., a deferred annuity section known as Pension Builder Classic, and, a cash balance settion known as Pension Builder 2014. Pension Builder Scherne Both sections ofthe Pension Builder Scheme are classed as defined benefit Khemes. Pension Builder C1055ic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors. Peftsion Builder2014is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared, is payable, unreduced, from age 65. There is no sutAivision of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SOFA in the year were the contributions payable of £13,59912023.. £12,350). A valuaiion of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022. For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective l January 2025, Ihe Board chose to grant a discretionary bonus of 6.7% to boih pensions not yet in payment and pensions in payment in respett of seNice prior to April 1997., and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 2.7% Iwhere usually il would be calculated based on inflation up to 2.5%). This followed improvements in the funding position over 2024. There is no requirement for deficit payments at the current time. The next valuation is due as at 31 December 2025. For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m on the ongoing assumptions used. There is no requirement for deficit payments at the Current time. The legal structure of the scheme is such that if another employerfails, Ely Cathedral could become responsible foi paying a share of the failed employer's pension liabilities. 2024 Report 49 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 Auditorg remuneration 2024 2023 Consolldai4d £000 Audit services Other services 35 33 Total audlior< r•mun•ratlon-¢onsolldai•d 43 Cathedral only Audit setvices Other services 19 Total auditorf remuneration-cathedral only 23 21 Income from donations and legacies 2024 2023 Restrlcted Endowment Total Total general designated £O(M) £000 Consolldai4d £000 Donatlon$ Congregational collections and giving Other doriations Donations from Friends and local trusts Tax recoverable under Gift Aid 133 140 30 24 133 135 344 854 22 23 238 24 Total donatlons-<•nsolldai•d 327 261 596 1.355 In 2023 income was unresiricted, except for £1,016,000 that was resiricied for particular projecrs and £67,000 ihar related to the endowment. Cathedral only Donatlon$ Congregational collections and giving Other doriations Ely Cathedral Enterprises Ltd Donations from Friends and local trusts Tax recoverable under Gift Aid 133 133 105 135 233 30 22 971 1,554 22 Total donation5-Cathedral only In 2023 income was unresiricted, except for £1,683,LN)O that was resiricied io particular projects. 289 972 Con$olidat4d Legacies Legacies Total1•ga¢lw-<•nsolldat 346 350 273 346 350 273 In 2023 all income was unrestricted, except for £189,000 thai was restricted for particular projects and £50.000 that related to the endowment. Cath*dral Only Legacies Total legKie5-Cathedral only 28 In 2023 all income was resiricied. Consolidated Grant$ Church Commissioners Other grants Total grants-¢onsolldai•d 43 223 266 178 57 43 133 447 235 In 2023 all income was unresiricted, except for grants from the Church Commissioneig of £133,000, which were restricted. Cathedral only Grant$ Church Commissioners Other grants 43 223 266 178 57 Total grab)ts-Cath•dral only 43 447 235 In 2023 all incorne wa5 unre51ricted, except for grants frorn the Church Commi55ioner5 of £133,000, which were restricted. 2024 Report 50 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 Income from charitable activities 2024 2023 Restricted Endowment Totsl Total general de5ign3ted £000 £000 Con501idated Facility and other fees Grogs income of the choir school 365 55 365 55 287 58 In¢om• from charltabh aa1vltl•S-￿nsolId￿t•d 420 420 345 In 2023 all income was unrestricted. Cathdral only Facility and other fees Grogs income of the choir school 428 55 428 55 287 58 In¢om• from charltabh adlvltlw-Cath•dral only 345 In 2023 all income was unrestricted. Income from other trading artivities 2024 2023 Unrestrirted Unrestricted Restricted Endowment general designated £000 £000 Totsl Total Consolidated £000 £000 Charges to visitors Gift Aid on entrance charges Gross income of Ely Cathedral Enterprises Ltd and other activities Lettings of Cathedral or other buildings Income from othertrading artivities-wnsolidated In 2023 all income was unrestricted. 922 93 922 93 748 57 895 468 895 388 2.378 L378 2.099 Cathdral only Charges to visitors Gift Aid on entrance charges Lettings of Cathedral or other buildings Income Irorn (￿ritable adivitie5-C4thedral ¢MIy In 2023 all income was unre5tricred. 922 93 468 922 93 748 57 436 1,483 1A83 1,241 5.4 Income from investments 2024 2023 Unresiricted Unrestricted Restrlcted Endowment general designated £000 £000 Total Total Consolldai4d £000 Investments (note 111 162 95 155 412 394 In<om• from Imiwim•nts-¢•n$olldat•d 162 95 Iss 412 394 In 2023 all income wag unresiricted, except loi income of £92,000, which was restricted and £IOI,000, which related io the endoweni. Cathedral only Invesrrnents Inote 111 79 77 In¢om• from Inv•sim•nts-Cath•dral only 79 79 77 In 2023 all income was unrestricted. 2024 Report 51 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 Costs of raising funds 2024 2023 Unrestricted Unrestricted general designated £000 Restricted Endowment Totsl Total Consolldai4d £000 £o¢Jo Costs of fundraising and letting Grogs cosi of shops, restaurants and other activities Investment management costs Support costs 169 1,241 169 1.241 19 206 148 1.166 163 43 239 Costsolralsln9funds-<•nsolldai•d AII 2023 expenditure was of unrestricred fvnds, except for £40,000 which was of restritted funds. cath￿ra1 only Costs ol fundraising and letting Grogs cosi of shops, restaurants and other activities Investment management costs Support costs 1,592 43 1,635 1,570 165 397 165 397 19 206 362 163 43 237 Costsolral$lng funds-Caih•dral only 744 43 787 764 AII 2023 expenditu￿ was of unresiricied funds, excepr lor £40,000 which was of restricted funds. Analysi5 of expenditure by artivity 2024 Support costs £000 Note9 Total Consolldai4d Note8 Cost of raising funds 1,429 206 1,635 Charltabl•a¢tlvlil•$ Ministry Cathedral and precinct upkeep Education and outreach Community, parish and congregation Other costs 872 1,269 114 257 206 257 103 1.129 1,47S 371 106 19 Total •xp•ndliur•on chaihabl•artlvlil•s-¢onsolldai•d 2,258 3,100 Total •xp•ndltur•-<onsolldai•d 3,687 1,048 4.735 Caih•dral Only Cost of raising funds 582 206 788 Charltabl•a¢tlvlil•$ Ministry Cathedral and precinct upkeep Education and outreach Community. parish and congregation Other costs 872 1.283 114 257 206 257 103 1,129 1,489 371 106 Total expenditureon charitableartivities-c•thedral only 1272 B23 3.095 Total expendl¢ure-Cathedral onfy 1854 1,029 3.883 A split of dirett costs between restricred and unresrricred is included in note 8. Within supporr costs there were restricted expenses as follows.. Con$olld•td &Cathdral 2024 2023 Ministry Cathedral and precinct upkeep Education and outreach Community, parish and congregation 50 43 54 22 50 20 Toial 173 2024 Report 52 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 Analysis of expenditure by activity Iconydl 2023 Directcosts £000 Note8 Support costs £000 Note9 Total £000 Consolldai4d Ministry Cathedral and precinct upkeep Educaiion and outreach Community, parish and congregation Other costs 831 1.585 93 298 239 299 120 50 1.129 1.824 392 122 50 Total •xp•ndltur• on ¢harltabh artlvlil•s-<•nsolldat•d 2.511 1.006 3.517 Cathdral Only Ministry Cathedral and precinct upkeep Education and outreach Community, parish and congregation Other costs 830 1.585 93 297 237 297 1.127 1.822 390 Total expenditure on charitable artivities-cathedral only A split of direct Costs between restricted and unrestricted is included in note 8. 2,511 3,477 Dirert costs of charitable activities 2024 2023 Unrestricted Unrestricted Restricted Endowment general designated £O(M) lil Ministry Con501idated Total Total £000 £000 Clergy stipends and working expenses Clergy housing costs Service5, music & congregational costs 138 182 97 593 97 354 90 559 239 Total dirert<osts of charitableartivitie5- ministry 495 377 872 830 In 2023 £132,000 ol clergy stipends and £226,OQK) of services were restricted. All orher expenditure was unrestricted. Cath￿ra1 only Clergy stipends and working expenses Clergy housing costs Services. music & congregational costs 138 182 97 354 90 559 239 593 Total dlr•rt<osis of ¢harttabl•artlvltl•s- mlnlstry 495 377 872 830 In 2023, £132,OOOof clergy stipends and £226,000 of services were ￿$tricted. All other expenditure was unrestricted. 1111 Cathdral and pr•¢lnrts upk••p Consolidated Major repairs and restoration Maintenance and interior upkeep Cathedral insurance Precincts, 9￿Ul1tY and garden upkeep Dlr*rt ¢osts of tharltabl• aalvltl•s-uth•dral and pr•¢ln¢ts upk••p 261 467 261 856 119 33 382 649 97 36 30 531 731 1.585 In 2023, £800,000 ol major repairg, £432,OW of maintenance and £5,000 of pr￿inci$ costs was restricted. All other expendiiurewas unrestricted. cath￿ra1 only Major repairs and restoration Maintenance and interior upkeep Cathedral ir)surance Precincts, Security and garden upkeep Direct costs gf charitable •divitie5-Qthedral and precincts upkeep In 2023, £800.000 ol major repairg. £432,OW of maintenance and £5,000 of pr￿InctS costs was restricted. All other expenditurewag Un￿StrIcted. 261 467 261 870 396 649 97 36 30 33 545 731 1.283 1.585 2024 Report 53 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 2024 2023 Unrestricted Unrestricted general designated £0 £000 Restricted Endowment Total Total 11111 Ed￿￿tIon and ouir•a¢h Consolidated £000 Educational activities 72 42 93 Dirert C05ts of <haritable Jrtivities-edu<ation and •utr•4¢h 72 42 93 In 2023, £40,0￿waS restricted and all otherexpendirure was unresiricied. 72 42 93 Dlr4<t <ost$ of <harliabl• a<tlvltl•$- •ducatlon and Ou¢r￿¢h 72 42 93 In 2023, £40,000 was restricted and all oihei expenditure was unresiricied. livl Community and congregation Consolldat*d Community and congregation Dirert C05ts of<h•ritable Jrtivities-wmmunityand ngrewion In 2023, all expenditure was unrestricted. Community and congregation Dire<t C05ts of <h4ritable activitie5- wmmunityand <0ngre9ation In 2023, all expenditure was unrestricted. Support costs 2024 Charitable Total fund5 £O(M) Con$olldat•d £000 Finance, HR and ITcosts Other premi5e5 Costs Staff training costs Governance costs 174 31 834 155 124 54 54 Total support ¢osts- <•nsolldat•d 206 1,048 Cath•dral only Finance, HR and IT costs Other premises costs Siaff training costs Governance costs 174 31 676 124 850 155 19 19 Total support ¢osts- C•ihedral only 206 823 1.029 2023 Consolldated Finance, HR and ITcosts Other premises cosrs Siaff training costs Governance cosis 205 32 820 127 1.025 159 50 50 Total support ¢osts- wnsolidated 239 1.006 1.245 Cathedral only Finance, HR and ITcost5 Other premi5e5 Costs Staff training costs Governance costs 203 32 813 127 1,016 159 Total support ¢osts- Caih•dral only 237 967 1,204 2024 Report 54 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 10. Investments 2024 Investment property £000 Note 12 Total investments £O(M) Notell Con$olldai4d Ai I January 2024 Additions Disposals Realised gainsl Ilossesl Unrealised gains I Ilossesl Accrued interest 13,896 558 15421 3,140 17,036 558 15421 499 iiooi 399 Total Inwsim•ni ass•is ai 31 D•¢•mb•r 14,417 17,457 Cash held for investment Total investments-<•nsolldat•d 14,420 3.040 17,400 2023 Ai I January Additions Disposals 12.698 496 14891 3.140 15.838 496 14891 Unrealised gains/ Ilossesl Accrued interest 1,184 1.184 Total investment a55ets at 31 December 13,896 3,140 17,036 Cash held for inv@stment 32 32 Total investments-<•nsolldai•d 13,928 3.140 17.068 Cathedral only 2024 Market value at l January Additions Disposals Realised gains / Ilossesl Unreali5ed gain5 1 Ilosse51 Accrued interest 2,584 558 15421 3.140 5,724 558 15421 240 140 Total investment a55ets at 31 December 2￿46 3.040 5.886 Cash held for investment Total investments-cathedral only 2,849 3,040 5,889 2023 Markei value at l January Additions Disposals 2,359 496 14891 3.140 5.499 496 14891 Unrealised gainsl (losses) Accrued interest 211 Total investment a55ets at 31 DKembev 1584 3,140 5,724 Cash held for inv&stment 32 32 Total Investments-cathedral only Chapter has unlisted investments of £2 which consists of the two ordinary shares held in Ely Cathedral Enterprises Ltd. Further details are provided in noie 23. All other investments are in a portfolio of listed investments. 2.616 3.140 5,756 2024 Report 55 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes to the finandal statementsforthe yearended 31 De￿mber 2024 11. Listed investments 2024 2023 Unrestricted Unrestricted general designated £000 £005 Restricted Endowment Total Total Con$olldat•d Market value ai I January Additions Disposals Transfers between funds Realised gains I Ilossesl Unrealised gains / losses) Accrued interest 5.216 558 15421 3,593 5,087 13,896 558 15421 12,698 496 14891 280 103 499 1,184 Market valueat 31 Decernber 5,518 3,696 5,203 14,417 13,896 Cash held for investment 32 Total inve5tments- Consolldai•d 5,521 3,696 5,203 14,420 13,92B 2023 Unrestrirted Unrestrirted general designated £000 £o(h) Restrirted Endowment Total Consolldat*d £000 £000 Market value at I January Iresiatedl Additiong Disposals Transfers between funds Realised gains I Ilossesl Unrealised gains / losses) Accrued interest 3,481 496 14891 1.185 3,109 4.923 12,698 496 14891 11,2961 192 13(X)I 317 292 1.184 Market valueat 31 Decernber 5,216 3,593 5.087 13,896 Cash held for investment 32 32 Total investments- Con$olldai•d 5,248 3,593 5,087 13,928 2024 2023 Analysed as lollows Overseas fixed interest securities UKfixed interest securities Quoted UK equities Quoted overseas &quiti&s Alternative investments The CBF Church of England Investments Fund Total rnarket value at 31 Decernber 27 216 586 1,733 285 27 435 562 1,259 301 14,417 13,896 2024 Report 56 The Cathedral Church of the Holy and Undivided Trinity of Ely

Cathedral only

Income from investments is analysed as follows:

Consolidated and Cathedral only

Notes io the financial statements for the yearended 31 December 2024 13. Properties Inv•$tm•nt prop•rtl•s As stated in nore I, Chapter has obtained market valuations from property agentson all properties which have been acquired or built by Chapter principally for investment purposes. The investment assets on rhe balance sheet were revalued as at 31 December 2024. Other properties Chapter own5 a large number of ancient former monastic and ancillary buildings which form the Cathedral prKirict las defined bythe Care of Cathedrals Measure 2011 l and are expecred ro be held in perpetuity. These are not included in the balance sheer. The caregories of use are ourlined below, iogeiher with insurance valuations. Chapter has the legal responsibilityfor providing housing lor the Dean and Resideniiary Canons, who occupy four properties allocated to their use. These properties, rogether with the Chapter Office (which is used for administration accornmodarion and is partofa single complex with the Deanery) have an insurance valuation, based on the cost of rebuilding, of £23,278,(KK)12023.. £24,307,000>. The premises occupied by the Cathedral's trading outlets were charged a commercial rent in 2024amouniing 10 £66,80012023.. £62,500). The Cathedral Shop 15 located in the Caihedral itself and has no separate irisurance value. The building occupied by the Almonry Kitchen restaurant has an insurance value of £5,664,00012023.. 5,510,000). Other monastic and ancillary buildings are let to commercial and ￿sidential tenanrs to help oftset the cosr ol maintaining the buildings in the Cathedral precinct. These properties have an insurance valuation, based on rhe cost of rebuilding, of £26,016,00012023.. £25,406,000). some properties are leased to King's Ely, an independent schwl with a long association with the Cathedral. Four of these properties form part ol an agreement whereby a nominal rent is charged in return for the School being responsible for the maintenance, upkeep and restoration olthese properties. The properties occupied by King's Ely had an insurance value at 31 December 2017 01 £19,618,8LM). The properties are no longer valued individually for insurance purposes and therefore a valuation has noi been prepared ai 31 December 2024. The insurers now insure on a ￿ rst loss, basis providing a maximum insured sum per incident of up to £20m. During the year the Cathedral received rent5 of £40,01212023.. £40.4161 which are included in property income. None of these properties are included in the Cathedral's balance 5heeL as explained in the accounting policies section. 14. Tangible assets- equipmenl and plant 2024 Unrestricted general £000 Restrirted Endowment Totsl designated Consolldai4d Cost.. At l January Additiong Transfers between funds Disposals Costat 31 D•¢•mb•r 1.159 75 153 1,312 75 1.228 153 1,381 Depreciation At l January Charge for rhe year Transfers between funds Disposals 392 114 506 117 DeprKation at 31 December Net book value at l January- consolidated 502 617 767 39 Net l>ookvalue at 31 D￿eMber-￿Tr$Olidaled 726 38 764 2024 C•thedr•l only Cost.. At l January Additions Transfers between funds Disposals 1.102 70 153 1,255 70 Co$t at 31 DK•mb•r 1,172 153 1,325 Depreciation At l January Charge for the year Transfers between funds Disposals 353 114 467 Depreation at 31 December Net book value at l January- Cathedral only Net l>ookvalue at 31 D￿eMber-(alhedraI only 463 115 578 749 39 788 709 38 747 2024 Report 58 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 15. Heritage assels (consolidated and Cathedral) As stated in the accounting policies, no value has been placed on the Cathedral Church building, the monastic and ancillary ￿1￿ing$ and the iterns in the inventory prepared under section 18 of the Charities SORP and underthe Care of Cathedrals Measure 2011. The monastic buildings and ancillary buildings include the chapter house, guest halls and priorfs building5. These buildings are partly used by the staff as offices, the clergy and the trading subsidiary for retail activity (until early 20231 and a restaurant. Due ro the ancient narure of these buildings, their depreciated replacement cost is considered io be nil as rheir life is in excess of 9Wyearsfor certain properties. The Cathedral also owns items such as our organ, silverware, furniture, listed monuments. paintings and vestments. Some of these items are permanently on display to worshippers and visitor5 but delicate or valuable iiems such as paintings, vestments silverware are securely stored and only accessed very occasionally in a managed way. The Cathedral keeps an inventory of all items considered to be of architecrural, archaeological, artistic or historic interest in the possession of the Cathedral. The Cathedral keeps an up to dale inventory ol rhese heritage assers in collaboration with the Cathedral Archaeologist and Cathedral Archivist. This includes photographs and a description oftheircondiiion. Any assets acquired ordisposed of are added or removed from this list although there have been no such movernen15 in the last five years. Any conservation work that 15 required on these assets is done by specialist conservators in their particular field and the inventory updated. 16. Stocks 2024 2023 Consolidated £000 Consumables Trading outlet5 69 84 510¢ks-¢onsolldai•d 78 93 Cathedral only Consumables sio¢ks-Caih•dral only 17. De￿Or5 2024 2023 Consolidated £000 Trade debiors Prepayments and accrued income Other debiors 59 116 36 224 28 Total d4￿Or$- <•nsolldat•d 266 Cathedral only Trade debiors Prepayments and accrued income Other debtors Ely Cathedral Trust Ely Cathedral Enterprises Lid Total d•l>tors- Caih•dral only 59 36 80 29 49 213 177 360 407 18. Cash at bank and in hand 2024 2023 Consolldai4d £000 Bank accounts Cash in hand 453 Cash at bank abld In hand- ¢onsolldai•d 403 457 Cathedral only Bank accounrs Cash in hand 81 Cash at bankand In hand- Caih•dral only 89 2024 Report 59 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 19. Creditors: amounts falling due within one year 2024 2023 Con$olldat•d £000 £000 Trade creditors Accruals and defer￿d income Other tax and social security Other creditors Bank loan 168 173 58 145 33 33 Cr•dltors:amounis lalllng du•wlihln on•y•ai-¢onsolldai•d Cathedral only Trade creditors Accruals and deferred income Ely Cathedral Trust Other tax and social security Other creditors Bank loan 449 436 175 127 29 157 152 52 10 33 33 Cr•dltors: amounts falllng du• wlthln on•y•ar-Caih•dral only 453 399 Creditors: amounls falling due after one year Con$olldat•d and Cath*dral 2024 2023 £000 £o(KJ Church of England Funded Pension Scheme liability Inote3.11 Bank loan 264 291 Total ¢r•dltors: amounts falllng du• aft•r on•y•ar-<•nsolldat•d and Cath•dral 264 291 The Church of England Funded Pension Scheme ICEFPSI liability ￿lateS to the Cathedral's involvement in the CEFPS forthe benefit of its clergy (note 3.11. Bank loans iotalling £297,0(X>12023: £325,000] are secured on the Grace Building. The value of the Grace 8uilding is included within in- vestment property (note 121. The loan 15 repaid in equal instalments over IS years at an interest rate of 2.69% above base. Th• d•bi falls du• asfollows Wirhin one year Between l and 2 years Between 2 and 5 years After 5 years 33 33 100 33 33 159 297 325 20. T￿al fund5 analy5is-consolidated 2024 Unrestrirted Unrestrirted Restricted Endowment general designated £000 £000 Total £000 Con$olldat•d General fund Fabric fund Music fund Other funds Revaluation reserve Organ fund Total fvnds at31 D•￿Mb•r- ¢onsolklai•d 7,215 7.215 3.875 5.247 916 912 93 3,389 1.978 3,264 914 912 93 8,134 93 5,367 18,258 Con591idated 2023 General fur)d Fabric fund Music fund Other funds Revaluation reserve Organ fund Total fvnds ai 31 D•<•mb•r- ¢onsolldai•d 6.851 6.851 3,929 5,214 879 1.012 100 416 3.267 877 3,513 1,941 1.012 100 7.871 100 4.560 5,454 17,985 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 Total funds analysis- Cathedral only Cathedral only 2024 Unrestricted Unrestricted Restricted Endowment general designated £000 £000 Total £000 General fund Music fund Other funds Revaluation reserve Organ fund Total fundsat 31 DK•mb•r-Cath•dral onfy 4.126 4,126 225 1,021 912 93 220 1.019 912 93 5,045 93 1,239 6,377 2023 Cath•dral only General fund Music fund Other funds Revaluation reserve Organ fund 4.032 4,032 226 220 1.012 1.012 100 100 Total fundsat 31 D•¢•mb•r-Cath•dral only 5.052 1.202 6.354 T￿al fund5 analy5is-consolidated 2024 Unrestrirted Unrestrirted Restricted Endowment general designated £000 £000 Total Con$olldai•d £000 Tangible assets Investments Current assets 726 7,755 366 14491 12641 38 4,502 124 764 17.460 747 14491 12641 5,203 93 Nortrcurrent liabilities Total fundsat 31 DKember-wns0lidated 8.134 93 4.664 5.367 18.258 2023 Consolldai4d 767 7,589 242 14361 39 4,393 128 Tangible assets Investments Current assets 5,086 17.068 838 14361 12911 Non<urrent liabilities Total fundsat 31 DKember-wnsolid4ted 7.871 4.560 5.454 17,985 2024 Report 61 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 Tolal funds analysis -cathedral only 2024 Unresiricted Unrestricted Restricted Endowment general designated £000 £000 Total Cath•dral only £000 Tangible assets Investments Current assets 709 4,756 297 14531 12641 38 1,134 67 747 5.890 457 14531 12641 93 Non-current liabilities Total funds at 31 De￿Mber- Cathedral onty 5,045 93 1,239 6,377 2023 Cath•dral only Tangible assets Investments Current assets 749 4.656 337 13991 39 1.100 63 788 5.756 500 13991 NorKurrent liabilities Total funds at 31 December- Cathedral only 5,052 1.202 6.354 The funds are made up of various smaller fund balances as set out overleaf. Unrestricted funds analysis -con501idated 2024 lènceat Net movement in lJ8n theyeèr £000 Transfers Balance at 31 Dec Unr•strl¢t•d fund$ General fund Music fund Other funds Revaluation reserve 6.851 15371 7,214 1.012 912 Unr•sirld•d funds- <•nsolldai•d 7,871 15371 8,134 2023 Unr•strl¢t•d fund$ General fund Music fund Other funds Revaluation reserve 5.320 394 1,137 6.851 1,012 1.012 Unrestrided funds- consolidated 390 1,137 7,871 Transfers represent grants given to the Cathedral from restricted and endowmeni funds ol the Trusi. Designaled fund5 analysis -con501idated 2024 Balènce at ljan £OOOs Net movement in theyeèr Transfers BJl•nc• at 31Dg D•$lgnat•d funds £'ooL Organ fund 93 DeslgNt•d funds-<onsolldai•d 100 93 2024 Report 62 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 Restricled funds analysis-consolidated 2024 Balènce at Net movement in the year £000 Transfeis BJl•nc• at 31D4 £000 R$trld•d fund$ £000 £000 Fabric fund Donaied assets Maintenance projecrs Music fund 415 854 23 3.268 70 854 61 3.264 12341 13351 272 331 Restrirted fund5-wns0lidated 4.560 14991 603 Transfers represent grants given to the Cathedral from unrestricted funds of the Trust and amounts transferred io fixed assets. 2023 Bèlènceat Net movement in the year £'OOOs Transfeis Balan£eat 31Dg £'0005 R$trld•d fund$ Fabric fund Donated assets Mainienance projects Music fund 394 854 1221 3,132 21 415 854 23 3,268 46 317 R•strIrt•dfunds-￿Thso11daIod 4,358 316 4,560 Transfers represent grants given to the Cathedral ffom unrestricted funds of the Trust and amounts tiansferied to fixed assets. Endowment funds analysis-con501idated 2024 Balènce at Net movement in ljan the year £OOOs £'OOOs Transfeis BJl•nc• at 31 £'OOOs End¢)wmentfunds 21 st Century Endowmer)t Friends of Ely Cathedral Music Chorisiership Octagon Choristership Ouseley Trust Chorisrership 3.513 74 214 3,388 73 220 185 162 330 465 206 338 159 330 456 Rawlinson Fund Chorisiership Gaffjeld Weston Choristership Lantern Chorisiership Quanea Choristership 23 333 Endowm•nilunds- <•nsolldai•d 5,454 1661 5.367 Transfers represent grants given to thecathedral from endowmentfunds of the Trust. End¢)wmentfunds 2023 21 st Century Er)dowment Friends of Ely Cathedral Music Chorisiership Octagon Choristership Ouseley Trust Chorisrership 3.405 70 192 168 150 257 420 170 309 108 3,513 74 214 23 20 23 86 50 27 37 159 330 456 194 333 Rawlinson Fund Chorisiership Gaffjeld Weston Choristership Lantern Chorisiership Quanea Choristership Endowm•nilunds- <•nsolldai•d 5.141 382 1691 SA54 Transfers represent grants given to the Cathedral from endowmeni funds of the Trust. 2024 Report 63 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 Unrestrirted funds analysis-cathedral only 2024 Balènce at Net movement in ljan theyeor £000 Transfers BJl•nc• at 31 Dec Unr•strl¢t•d fund$ General fund Music fund Flower Guild Revaluation reserve 4.033 92 4,125 1.012 912 Unr•sirld•d funds- Caih•dral only 5.052 Unrestricted funds 2023 General fund Music fund Flower Guild Revaluation reserve 4,168 4,033 1,012 1,012 UnMsirla•d f￿h￿s- (￿h•drI onfy 5,192 5,052 Designated funds analysis- Caihedral only 2024 lènceat Net movement in ljan theyeèr Transfe Balan£eat 31Dg Designated funds £'ooL Organ fund 93 D•slgnat•d funds-Cath•dral only 100 93 Designated funds Organ fund 2023 100 100 D•slgMt•d funds-Cath•dral only 100 100 Restrided fund5 analysis- Cathedral only 2024 Balanceat Net movement in ljan the year £000 Transfers Balance at 31 Dec £000 R$trld•d fund$ Donated assers Maintenance projecrs Music fund 837 837 37 220 220 Restricted funds-cathedral only Restrl<ted funds 1.201 37 1.238 2023 Donated assets Maintenance projecrs Music fund 838 837 145 220 Restrictedfur*ds-Cathedr41 only 1,215 1,202 Transfers related to spend ol a capital nature are not included in the statement of financial ociivities. The Cathedral had no endowment funds in the year. 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 20.1 Total relurn- Consolidated 2024 Permènent Endow(nent £000 Unapplied total Total £000 £000 Balan¢• at l January 2.351 1.162 3,513 Investment ￿turnS (dividend and interesrl Inve5trnent returns Ireali5ed and unreali5ed gain5111055es1 Indexation of the capiral in permanenr endowrnentfor investment Net mov*m•nt In year 100 75 75 1831 92 83 83 175 Unapplied total return allocated to incorne in the period 13(X)I 13001 Balance at 31 December Trust loi investmentlpermanent endowment Unapplied iotal return Balan¢• at 31 D•¢•mb•r 2.434 2.434 954 954 2,434 954 3,388 During 2021, Ely Cathedral Trust (which is consolidaied into these financial siaternentsl took advaniage of Section 4 of theTru5ts Acr 2013 to adopr a total return approach to the permanent endowment of the 21 st Century Fund.The Trustees met and unanimously agreed this on 29 April 2021 as being in the charity's interest. Due to the number of professionally qualified accountants and lawyers within the group, Trusrees werecomfortable that as a body they had the experience and rhe expertise to take the decision onthe basis ol information ar)d advice rKeived withoui the need forformal external professional advice. This approach has been lirnited tothis one fund and will not apply to any other endowmeni funds held by the charity. The assets held that represent the value ofthe original endowment have been established including any additional amounts that were noi the result of the investment. There is no eX￿tIng Charity Commission Order on this fund. The Trustees decided to adopt the total return basi5 in orderto assist the Cathedral with the imminent need to spend a large 5L¥re of money on the organ. The Trusiees feel thar this expenditu￿ is within the spirit of the original 21 si Century Fund. 21. Cash and cash equivalenls and net debt analysis Atljan 2024 Cash flow Al 31 D•c 2024 Cash at bank and in hand Cash held as investmenr assets 457 32 1521 1291 405 Total cash and ush •qulv•l•b 489 1811 408 Bank loans falling due under one year Bank loans falling due after oneyear 1331 12911 133 12641 27 Total d•bt 165 1541 2024 Report 65 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 22. Consolidated enlilies The following transactions between Ely Cathedral and Ely Cathedral Trust (note 231 have been eliminated on consolidation.. 2024 2023 Fabric and maintenance grant Music appeal Scholarships Charitable grant Decarbonisation 302 239 327 100 126 192 78 The above amounts were paid by Ely Cathedral Trust to Ely Cathedral. The amount overpaid by Ely Carhedral Trugt ar 31 DecemtEr 2024 to Ely Cathedral totalled £29,0￿￿2023, amount owed.. £49,0001. The following transactions between Ely Cathedral and Ely Cathedral Enterprises Lid Inoie 231 have been eliminared on consolidation.. 2024 2023 Property income and other recharges 62 The above amount5 were paid by Ely Cathedral Enterprise5 Ltd io Ely Caihedral. The amount owed by Ely Cathedral Enierprises Ltdat 31 December to Ely Cathedral toralled £177,00012023.. £213,0(K>I. 23. Consolidated and connected entities The Cathedral has a wholly owned subsidiary company. Ely Carhedral Enterprises Lid, a company incorporated in England and wa￿$. The principal activities of the companyare the sale of books, souvenirs and the provision of refreshments and carering services. Chapter controls the company as it holds 2 ordinary £1 shares in the company, being IO0% ol rhe issued share capiral. The Cathedral rents to the company premises in which rerail activity and a restaurant are located. After the balance sheet dale, the company has outsourced the da*ttrday running of the Almonry Restaurant (now rebranded as the Almonry Kitchen) to an independent third party. The Cathedral reiains ownership olthe property. Details of the latest audited accounts of this company, which a￿ consolidated into these accounts, are summarised below.. 2024 2023 £000 In<om• Cost of gales 13411 13581 Gross profit Adminisrrative expenses Other operating income 554 15651 18 15221 18 Profft I Ilwsl on •rdlNry aalvltlw b•for•GIft Ald A summary of the balance sheei is shown below.. 2024 2023 £000 Fixed assets Stocks Debtors Cash ai bank and in hand Creditors 17 69 54 12421 12041 Total fubKIs 1771 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 23. Consolidated and (onnerted entities Icontinuedl Elycathedral Trust is a chariry (number 2648031 that is wholly forthe benefit of the Cathedral. TheTrusrees are appointed by Chapter but exercise lull control over the Trust. Details of the latest audited accounts ol rhis chariry, which are consolidated inro the* accounts, are summarised below.. 2024 2023 £000 £000 Stat•m•nt of finan¢lal adlvltl Income Grants paid to the Cathedral Inore221 Other expenditure 745 17331 1231 673 17771 1321 Nèt In¢om•for th•y•ar Other recognised gainsl Ilossesl Net rn¢)vement in funds 11361 973 259 837 Balan¢• $h4•t Investments Net current assets 11,571 311 11,312 322 Total funds 11.882 11.634 Consolidated and conne<ted enlities not controlled by Chapter The Friends of Ely Cathedral is a charity (number l 1577051 that is wholly for the itnefii of the Cathedral but is not controlled by Chapter. Details of the laiest unaudited accounts of this charity, which are not consolidated into ihese accounts, are 5ummarised below.. 2024 2023 £000 £000 Statement olfin•nci•l artivitie5 Income Grants committed to thecathedral Other expenditure Net incomel lexpenditurel forthe year after expenditure on raisin9 funds and ch•ritsbleactivities Other recognised gains 111055e51 93 1341 1331 107 13381 12621 25 N•t mo¥•m•nt In funds 34 12371 Bal•n¢• $h••t Investments 347 133 339 107 Total funds 24. Related partytransa¢tions During the year, the Cathedral undertook a number of transactions with King's Ely, of which the Dean of Ely is an ex officio governor.. Rent paid to thecathedral £75,00012023.. £40,000) Cathedral cost of educating chorisiers £298.00012023.. £246.0001 Contribution for use of the Carhedral £30,00012023.. £30,000) There are no other relared parry transactions12023.. nonel. 2024 Report 67 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 25. Contingent asset As at 31 December 2024 the Group was aware of legacies valued at £260,00012023.. £603,000) which have nor been recognised in these accounts as they have noi met the income recognition ciiieria in the accounting policy I Icl. Ai 31 December 2024 the Group had an inieresi in 312023.. 41 estates, one of which is subject to a life interest and is not included in the £260,000 due io the inherent uncertainty in valuing this type of estate12023.' nill. 26. Operating lease commitments Lessee: Ai 31 December 2024the Cathedral had commirments under norFcancellable operating leases as follows.. 2024 2023 Within l year Between 2 and 5 years More than 5 years 27 92 27 119 145 Ai 31 December2024 the Cathedral had agreed cornmitments as a le550r under non<ancellable operating leases to receive receipts as follows.. 2024 2023 Inv•stm•ni prop•rtl•s Within l year Between l and 5 years In more than 5 years 200 376 156 137 225 30 732 392 2024 Report The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 27. Comparative slatement of financial artivities- consolidated 2023 Unrestrlded 9eneval Unrestrlded designat•d Re￿rItted Endowment Total Note £000 £000 £000 £000 £'ooo Incom & •ndowm•nts from: Donations & legacies.. lil Donations 272 1,016 189 133 67 50 1,355 273 235 102 Charitable activities 5a 345 345 Other trading activities Investments 165 92 394 Transfers from endowment 20.7 300 13(X)I Total in<ome 3.317 36 1,430 1821 4,701 Expenditure on: Raising funds Charitable activities 1.530 1.570 718 lil Ministry lill Cathedral & precincts upkeep liiil Education & oUt￿aCh livl Community, parish & congregarion Other expenditure 720 547 302 102 409 1.277 90 20 1.129 1,824 392 122 50 Total •xp•ndltur• 3,251 1,836 5.087 N•t Incom•ll•xp•b￿II￿r•l b•ft•r• galns I Iloss•$l on Invwtm•nts Ner gains I Ilossesl on listed investments Net gains / Ilossesl on property investments 36 13861 323 292 463 1.190 72 Net incomellexpenditurel Transfers between funds 389 11141 381 20 1.138 11,3861 316 1681 N•t mowm•ni In funds 1,527 11,2381 202 513 R¢on<lllatlon tofunds: Total funds brought forward Total fvnd5 carried forward 6,344 1,338 4.358 5,141 17,181 7￿71 100 4.560 5A54 17.985 2024 Report 69 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 27. Comparative statement of financial activities l<ontinuedl -Caihedral only 2023 Llnrestricted yeneral Llnrestricted desSgnaied £000 R•strict4d Endowm¢n¢ Trfal Note £000 £000 £000 £000 Income & endowrnentsfrorn: Donation5 & legacie5'. lil Donations 261 28 102 1.683 28 235 133 Charitable activities 5a 345 345 Othertrading activities Investments 1.241 1.241 77 77 Total In¢om• 054 1,816 3.870 Expenditure on: Raising funds Charitable activities 724 764 7/8 lil Ministry lill Cathedral & precincts upkeep liiil Educaiion & outreach livl Community, parish & congregarion Other expenditure Total expenditure 718 545 300 409 1.277 90 20 1.127 1.822 390 2A05 1.836 4,241 N•t•xp•ndltui• bfor• gains I Ilossesl on investments Net gains I11055esl on listed inve5tmentS Net gains / Ilossesl on property investments 13511 1201 13711 210 218 72 N•t In¢Omll•x￿ndItUr•l Transfers between funds 11411 11531 20 N•t mov•m•nt In I￿￿d% 1131 11531 Reconclliation tofunds: Total funds brought forward Total funds carried forward 5.192 1.215 6,507 5.052 100 1.202 6,354 2024 Report 70 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 27. Comparative balance sheet -consolidated 2023 Llnrestricted yeneral Llnrestricted dtslynated £000 R•strirtgd Endowm•nt Total Note £000 £000 £000 £000 Fixed •55et5 Tangible assets Investments 74 70 767 7.589 39 4.393 5,086 17,068 Totalllx•d ass•ts 356 4,432 5,086 17,874 Current a$5et5 Stocks Debtor5 Cash ai bank and in hand 76 17 78 93 93 39 89 83 285 83 457 Total curr*nt assets 242 100 128 368 838 cl￿1t0r$.￿mOuhts fallln9 du•wlthln one year 79 14361 14361 Net current 4ssets111iabilitiesl 11941 11)0 128 368 402 Creditors: arnounts falling due after morethan one year Total net assets 79 12911 7,871 100 4,560 SA54 17,985 Th•fund$ ofth• grnup: General fund Organ fund Fabric fund Music fund Other funds Revaluation resetve 6.851 6.851 416 3,267 877 3,513 1,941 3.929 5,214 879 1,012 1.012 Total funds 7.871 100 4.560 5A54 17.985 2024 Report 71 The Cathedral Church of the Holy and Undivided Trinity of Ely

Notes io the financial statements for the yearended 31 December 2024 27. Comparative balance sheet -cathedral only 2023 Llnrestricted Llnrestrict•d 9ener•l d¢signated R•stiirtgd Endowment Total Note £000 £000 £000 £000 £000 Flx•d as$•t$ Tangible a55etS Investmenrs 14 70 749 4,656 39 i.ioo 788 5,756 Total fix•d a$￿t$ 5.405 1.139 6.544 Curr•ni assrfs Stocks Debtors Cash ai bank and in hand 76 77 78 307 21 407 63 Total <yrrent assets 337 100 63 500 Creditor&amountsfalling duewithin one year 19 13991 13991 N1 rurrni as$•t$ 1621 100 63 Cr4dlt¢fs: amount$falllng du•aft•r moreihan on* year 79 12911 12911 Total n•t ass•ts 5.052 100 1,202 6,354 Thefundsgf thecathedral: General fund Organ fund Music fund Other funds Revaluation reserve 4,032 4,032 220 226 1.012 1.012 Total funds 5,052 100 1,202 6,354 2024 Report 72 The Cathedral Church of the Holy and Undivided Trinity of Ely

Back coverphoto.. Ribbons tied to the gateof the Galilee Porch during SafeguordingA woreness Week os a sign of solidority with those affected byabuse

Ely Cathedral The Chapter House The College Ely Cambridgeshire QB7 4DL 01353 667735 receptionist@elycathedr Registered charity num Published bythechapt wwwAlyath•dral.org Ca