CHARtfY REGISTRATION NUMBER: 1202787 The Cathedral Church of St Woolos, Newport Unaudited Financial Statements 31 December 2025 WALTER HUNTER & CO LIMITED Charted accountants 24 Bridge Street Newport South Wales NP20 4SF
The Cathedral Church of St Woolos. Newport Flnancial Statements Year ended 31 December 2025 Page Trustees, annual report Independent examinerfs report to the trustees 10 Statement of finanaal activities 11 statement of financial position 12 Notes to the financial statements 13
The Cathedral Church of St Woolos. Newport Truste6s' Annual Report Year ended 31 December 2025 The trustees present their report and lh8 unalited finafKial statements of tho ¢harrty for Ihg ygar ended 31 Decembgr 2025. Reference and admlnlstratlvft dgtalls Roglst8Tod ¢harfty nam• The Cathedral ChurdÈ of St Wookjs. Newport Charlty registration numb•r 1202787 Prlnclpal office The Cath&Jrdl Office 105 Stow Hill Newport NP20 4ED Tho trusts The Very Reverend l Black Canon R Davies Canon F Howe Canon P Lea Reverend Canon A Lighltthvn {ResvJned 19 March 2026) Canon l Loynd Reverend Canon M Canon C W(K)Ilard can H Rowan Canon l Rees Canon R Comelius Canon J Connell (Resigned 13 October 20251 {ReswJned 8 March 2026) Chlgf Opglatlng Offlcor Mts P Cole Key Management Pèrsonnel Mrs P Cok Mr T Coxheaj Independent examlnèr Mr Jonathan Rhcmles Bsc BFP FCA 24 Bridge Street South Wales NP20 4SF
The Cathedral Church of St Woolos, Newport Trustees. Annual Report f¢onthL* Year ended 31 D8cembor 2025 Bankers est Bank High Street Lk)yds Bank Commercial Street Santander Bank Commercial Streei Nevoort Cathodral Archlt•ct Emma Mullen Elm Arthitects Ltsl Minster Y<xJngs PathJk Salisbury Wiltshire SP5 1RS Investment Manage RBC Brnwn Dolphin 5 Caltaghsn Squwe Cardiff CF10 5BT Redmayne BeeY 3 Weilington Place Leeds LS14AP
The Cathedral Church of St Woolos, Newport Trustees. Annual Report (coftth7W Year ended 31 December 2025 The trustee5 present their reF and accounts for year ended 31st December 2025. The accounts have b8en prepared in acc4)rdance the accounting policv&s set out in the notes to the accounts and compty with the tharilvs Memorandum and Artides of Associatton. the Companies Act 2006 8nd 'Accounting and Reporting by Charities: Statement of Recommended Practic6 applicable lo charlties prepallng their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). leffeclive 1 January 2019). These accounts Tgpresent s8(¥Jnd full year since the Cathedr81 Chapter became a CIO. Structurn. governance and manag•mgnt Govornlng do¢umonl The Cathedral Chapter is part of the Dtctese of Monmoulh within the Church in Wales. The Chtjrch in Wales 15 a Province within the Angli Communion and. as such. exists to advan the Christian Religion through worKI-wide mission. The ofyect of the Chapter is to ensure that the lrfe and work of the Cathedral helps to fulfil that mtssion, both ealty and more widety. The Chaptèr is a Charitable Incorporated Organi5ation. It is also regulated by the Constitutlon of the Church in Wales as amended from time to time by its Goveming BcY set up under Section 1311101 the Welsh Church Act 1914. Members of Chaptef are appointed in accordan the constitution. Two ere 818Cted by the Cathedral u)ngregalion as Cathedral Wardens. Olhers are drawn from the Diocese. Al persons over the age of 16 whose names are entered on the Cathedral Electoral Roll are entttled to vote and those over 18 are eligible to sland for eleclion as Cathedral Ward8n. Tho Repfesentstive Bryjy of the Church in Wales holds the land and propety of tha Church ¢n Walos Including St W¢J)los Cathedral and other church buildings and the churchyar(l and their contents. The tile to numbers 10 Clifton Road is heKI on Chaplerfs behalf by the Representative Body. Number 10 was sokl on the open market during the year. The value was redu(d due lo the poor State of its repair foll¢)wing many years without repairs and maintenance needed. The Representative Body És an exempl Charity and was set up under Sectton 1121 of the Welsh Churches Acts 1914. It acts on behalf of the Province in paying the stipeThls of the full-time dergy and administers th8 Church in Wales scheme of covenanted and gift aid giwng recoverir#J tsx on behaK of the parishes. Cathedral clefgy are paid throu the Replentsve Body and rK)t charity. Oryanisational Jtmctu The Chapter is reSponsie inlor-alia for promoting the mission of the Cathedral. the budget and all exnd}lTe there under. the care and maintsnance of the Calhedral fabric and of the grounds, for actlon on any other matter referred lo it in accordan Vith the constilulion. There is a Congregational Committee, elected by the Annual meets.ng of the Congregation. This has no function in govemance acts as a vehidè for promting fhe life minrsty of Ihe Cathedral. The Chapter delegatss tho day-taY administration of the Cathedral to the Chf Operating Officer, who repoits to the Chapter through attendirKJ Chapter moetings. the ManwJemont meeting and the Diary meeting.
The Cathedral Church of St Woolos. Newport Trustees. Annual Report Year ended 31 December 2025 Committotr Structuro Betsveen regular meetings of the Chapter several (x)mmitlees meet to $UPKXJrt the Chapter and indude: Management Group consisting ol the Dean. the Residentiary con0, the Cathedfal Wardens. the Chlef Operallng Offiw and the DireclN of Music. Diary Management Meetfftg ClS11ng of ts Dean. the Residentiary Canons. the Chief Operating Officer, the Administrator and Events Coordinalor and th8 Dire¢tr* of Music. Finance Commiltee consistirNJ of the Dean, three membws of Chapter, a lurther member drawn from Ihe Cathedral community th finaTl experiise and the Chief Owating Officer. It is chalred by an extemal lay member of Chapter. Fabrfc Commlttee consisknng of one member of Chapter together wilh th8 Dean, throe members drawn from the w>Jer Cathedrdl LThimunsty and Ihe Chief oPeting offir. The Cathedral Architect is invitgd as need arises. Saf8guar(ling Committée chairgd by an ext8mal member of Chapter and consists of the CarK)n for Worship and Congregattonal Life, the Cathedrnl SafeguardirvJ Officer. the Director of MusiG and Cathedral Warden. Health arKI Safety Committee. chaiT&J by an extern member of Chapter. conslsts of the Cathed¥al Hearth an(J Safety Officer. the Chf OperatiThJ Officer and a member drawn frDm the wider Cath8dral communlty experknse Health and Safety matters. Cornmunication Committee ¥re by a member of Chaptsr and consists of the Canon ft)r Worship and Congregational Life. the Events Coordinator. IT Website M8n8ger arKI Ihree other members ofthe Cathedral corrHnuntty. Rl$k Manaym•nl The Chapter is conducting a thorough wew of risks and necessary mitvJaling procedures as the new govemance slnjcture embed5. Advice has b8en sought from the independenl examining accountant. The risk5 faang the Charity include the state ol repair of the Cathedral. which are being met through the architecvs Quinquennial Inspekn and ¢rUIng heduled works. This is forming the basis of the conseThation plan. During the year minor repairs were carried out along with the first phase of more gnfficant repair5 and conservation works. The finances are reviewed by the Finance Committee wth the necessary rewling. Chapter has also taken prudent steps to destgnate funds for current and future PTojects.
The Cathedral Church of St Woolos, Newport Trustees. Annual Report (eontsftiA Year ended 31 December 2025 ObJectlv8$ and •¢Uvltl?$ The Cathedral Church of Sl Wodos. Newport is the seat of the Bishop of Monmotsth and therefore the mother church of the Diocese. wrthin the Church Én Wal6s. This year it additionalty became the MelropoltiÈcal Church for the ChLErch in Walos when Bishop Cherry was dected Archbishop of Wales. It has deep spiritual roots and has bgen a sacred space for over fifteen hundred years since Gwynllyw Sant ISI Woo1051 founded a plac8 of prayer on this site in the late century. following a vision and alling by God. Today Newport Cath8dral is a vibrant hous8 of prayar and worship. offering an open and inclusNe welcome to all. and reaching out in faithful and lovlng seNice. Ajthough one of the smallest of the* Welsh Cathedrals. it offers Énlimacy and versatility. Tha objects of the Charity. undw the Church in Wales Conststvtion, is the promotion of the whole mlssion of the Church. pastoral. evangelistic. soual and ecumenical. In the Cathedrdl. The Cathedral aims to welcome and tnesS in the name of Jesus ChrlsL It responds to this vocation in cooperation with all peopto across Ihe City of Newport, the Dlctese of Monmouth and Church in Walos. The Church in Wales is part of the worfd-wpje Anglican C(¥nmunit)n. Its ConsttiutK)n defines its purpose as being lo nurture men and women th the faith of J65us Christ and lo aid them to grow in the fellowship of the Hoty Spirit, so that tha gd naws of God's grace may bB cleady proclaimed in the world and that God's Kingdom may be hontNJred and advanced" (Volume l.. Prefatory Note). Newport Cathedral has this voc81ion within its liue deeds. Th8 Cathedral is govemed by the Chapter, und8r thè 18ader8hip of the Dean. In 2025 Chaptèr reworked its strateglc plan. 8xpanding it under fNe key areas: Prnyer and worshlp- the bedrock of everything we are and do. Proclaiming - we have a story to tell. the Good News of Jesus Chrts( and we aim to share thi$ wrth olhets. Pastoral- Christ calls us to love and shth¥ this k)ve to Ihe wortd as well as Ce another. Prophetlc - Justice És Inth in a¢Xion and so trjr prayeTS. St¢xy arKI love naturally affed h¢)w we speak, lislen and what we do. Reslll•nce- underpins all of the at(Jve in temis of govemartt. finances and buiklings. Everything wg aim lo be and do is insimred and animated by our faith. In this we aspire to key values, whlch wlll ch8ractsiise the tone arKI manner of how we are wilh another and relate to others. These require us lo be.. nd Gracious and generous in listeniw and speaktywJ IndusNe Outward loong and loving Joyful Th8s8 aims and objectives enaNe Chapter to meet the requirements of public benefft.
The Cathedral Church of St Woolos. Newport Trustees. Annual Report (¢oDth Year ended 31 December 2025 AchlevBments and perf0mnCe The Cathedral became the metrolI11Cal church for the Churth in Wa10$ With the election of Bishop Chery Vann as Arthbishop of wa in July 2025. In Novemi*r it w88 a pleasuT6 Io w8kome repTesentsttv&s and friends from across the Church in Wales. the other Anglican provinces in the Unit TrQngdom {England. Scolland and lTrlandl, and Porvoo churches along wth ecumenical friends and repTesentsti¥es of other faith nmUn&S for her installa1 and enthronement. It was a joyful occasion and gave Ihe Cathedral the opportunity to provtde the Church in Wales with an uplifbng. forward looknng cdebratb)n after a perKd of tur11. To assist this sense of reseL the Dean wrote a Novena trj be used across the Pnce and by Ihose altellding in the 10 days laading up lo the 8eTvice. The themes We tsken from Abl$hOP Cherry'$ presKlential address to the Goveming Body of the Church in Wales in September. The special service brought a signfficanl rease in the w003d for a small cathedral team. Ixrt akjng wlth commltted volunte8rs IW rosa lo tho ¢xcasion in exemplary manner. The Cathedral 1$ open each day trom MomirwJ Prayer unbl Evening Prayer - usualty 8.00am to 5.30pm. F)rfall was a over 36.0] (2025.. 37.000). This i8 slighlty down on last year due to fewer concerts. The heartbeat of the caIhedr Ès its wiN5hipping lrfe. Thi5 continues lo grow. in both the core liturgy and also different styes when the choir is on a break and there is no vistting choir. The I¢rgICal diet has been expanded at chlMaS to bolh address the capacity c4Jngregalion for the Festival of LesscMs and Carols, and offer an infom)al servtce of carols. what ha5 become known as the 'Christmas Jumper Servt¢e'. This year the jumpw service vras clynbined wrth the Chrsngle Service and the Crib was budt during the mmkng ELKhari Average worshipping attendan Wds also pahUY down wth 121 adutts and 19 children on Sundays 1129 8nd 24 r8SP8Ctively in 2024). Thero is a faithful congregation at both Moming and Evening Prayer and the dady Eucharlsts. Even though the Cathedral does not have a parish. there were 10 baptisms in the year {6 in 2024) and are fwuently asked lo host fvrra1S for those with a civic or high.profiFe cOnnlI0n. or wttich other churches would nol be able to accommodata. There is still a high tevel of of assocAation 'St Woolos. a5 ancient parish chulch for the city. The increased Use of Welsh language in tKJth the liturgy and al sp¥aal seThS has )nt[nUed wilh a Welsh language Choral Evensong in tho summer and in the autumn. The Dlocesan Choral F181 is b0M1 an estab1hed feature in the Cathra1 year. dr8wlng together choits from around the diLx8se. In May ts Cathedral Choir joingd with tho choits of Llandaff and Brecon Cathedrals lor a Wdsh Three Choir5 Festival in LiaThlaff. The fhen Archbishop of Wales was the preacher at the Patronal FestNal in Match. The Cathedral's clvlc mw¢tstry has oxthed wlth the annual service and Holocaust Mome)rial Day rnmemoration. Homelessness conttnues lo be an issue which comes dir8¢tty to the Cath8dral door and we work dosely with e(yJmenical and other partrers to care for ttN)se who sleep rough around the Cathedral grounds. 11 is not unusual for us to Wake eerIng guests who havo bedd•d down al the entrance to the Cathedral. 11 has been a busy y8ar for concerts and events. In addilion io the regular rrKJnthly MusK@StWoolos oncerts. showca51ng young musicians fffjm the Royal Welsh Colloge of Music and Drama and parfomiers from further afield. a varied progrdmme has been staged. The partnership with Sl Woolos Slnfonia as orchestra in Siden to them SUPFortirwJ the Cathedral Choir concert in December, A Christmas Spectacutar. We were honoured that the Salvation Amy band Came lo g¢ve a concert in the Cathedral.
The Cathedral Church of St Woolos, Newport Trustees. Annual Report fcott1 Year ended 31 D8mber 2025 Achlevements and porformanco (¢¥7nVnwd) A key aspect of the Cathedral's role is to host dSan servKes and events. In addition to the annual ordinations and Chrism Euch8fi51. the Cathedral supported the bÉshop's ministy. We weknmed schools from around the DNJcese lor Ihe annual Church Schcx)Is year 6 leavers services, and a nference for headteache. Var¥)us schcols have wne to the Cathedr81 for educational visits. The bishop18rchbishop regularty uses the cathed to film vtdeos for release to the drOe and wider Church in Wales. Cathedral dergy aL80 sup[ed M11$ areas, a5Sisbng to improve th8 S8nse of the Cathedral being for tha whole dioc4se. A second ecumenical canon was inslalled when Revd DavKI Salisbury. Moderator of the United Reformed Church in Walps. was appointed. Revd Wendy Taytor asso installed as a dioc8san c2non. After many Y&S supporting the Calheilral. Ven Jonathan Williams retired in the summer, and therefore ceased lo be the nominated Arclvjeaeon on Chapter. being replaced by Ven lan Rees. With the appointment and installalton of Ven James Henley as the new Archdeacon of Newport. Jarrtes rgplaced lan Rees as the nominated ArChde0n in March 2026. Mrs Christie Cook wa5 also installed as a Chapter Canon in February 2026. Christie replaced Ms Hannah Rowan, who resigned on moving away from the diocese. Dr Manon Cerithyen James res•3ned as Canon Thw)bgian in September 2025 on beirig appoirited Dean of Bangor Cathedral. Mamn cited h8r exp8rÈ8nc8s of Newport Cathedr81 as part of th inspiration for envisaging how a cathedral can serve a ¢ity. Everyone who works in th8 Cathedrnl is hiohEy dedicated WKI Chapter t5 Vory grateful for their commitment. Chaptsr is mindfvjl to ensure that capacity is not exceeded. The Cathedral's misslon and ministsy rely heawty on dedicated volunteers. rtht th8 work of these volunteers, the Cathedrdl could not function and Chapter thanks them lor all they do. SKJntficant work has been progressed lo provide a volunteers. handbook and strengthen dwity on roles. Thè contrÈbution of vdunloors was celebrated at Pentecost (Sunday 8th June 2025). Works Identified In the Quinquenn1 In5peGtion repryt have begn progressed according to priority. The lalning wall along the gully on north side of th8 Cathedral was rebuilt and repaired. This provitjed an opportunity to build a small wall with rnilings on lop to prevent anyone from famirkg into the gully. The broken flag stones akjng the edge We repaiTed at the Same time. Exlemal IhlIng was installed fr the first ttrne along the approaches to the Cathedral. improvlng vislbilrty and safety at night. These are on a timer. No graves were disturbed In the excavations for th9 cabliThJ. indicating that this is built up land followng the wKlening of Clifton Road at the beginning of 20th ntUry. Th• new lighting was MmISsiOned in O(knber 2025. We ¢%lebrat8d 10 year5 of girls part of the ¢r November with a spedal Choral Even5pong. This included a new commissh)n of an anthem by Rulh Byrchmre. by kind gift of the Cathedral Friends. At the beginning of the year to the girfs and boys clKJirs were amalgamated. and a new youth choir was created to provide enhanced musical training for the okler teenagers. The choir continues to improve in standard an(1 expartd its repertre, under Tom Coxhead (Director of Music), asslsted by Jeremy Blasby {Assoctate Director ol Music). We are gratefvl for support from the Cathedral Music Trust The tower repairs have slovAy moved d05er Faculty peThnISs beng granted and a quantity suryeyor engaged lo give a dear projection of the cost of the works. A survey was ndUcted over the summer of the facilities lo support the Cathedral's mission and ministry. Valuable responses were receiv8d, thè oveTh4helming prity need identified vrds ac(*ssibÈlty.
The Cathedral Church of St Woolos. Newport Trustees. Annual Report ftothL•d) Year ended 31 December 2025 A¢hlevements and pwfonnance A significant blow (sme at the beginning of 2026 with the announcement by HM Govemment of the ending of the Listed Places of Worsh) Grant Scheme. through whith VAT on repairs was reclaimed. The existing fund ran out of rnoney shorty after this and this meant in¥0S still to be red required the additsonal funding. We now face a 20% uplift on all proiecls going foTrvard. The devofved funding for a new scheme has not been announced by th8 Welsh G0mMent. This is a signrfi¢ant challenge g(Ang fon¥ard and will to cctsts on malor wod(s. The Cathedral has Wekoffl a nuThthr of exhibilims thi5 y90r. Fcff Aoh4enl. a Newport Posada was produced and diwayed in the St Luke's Chapel. grwps around the Cathadral and tocal bLtsinesses. Varlous tslks. stuty days arwj discussion groups have been ¢¥Ise¢l through the year, allowing ¢)pportunlt¢es to deepen faith and engage wth parlKuLar Èssue5. Along vrith the ann1 Chartists ConventK)n. the Cathedral joined wilh Newrx)rt Pride. staffing a stall at Ihe event and held a service in the Cathedral on the eve of the main day. Many commented on the Importanco of $89ing the rainbow ftag flying from Ihe tower. The Cathedral aims to be induslve and provide a welcome space for al. The Cathedral community has a passion f just@ and social care. This is displayed throLEgh continued support for refiee5. food hunger projects in kxal sdK)ols. the fry)dbanks and provision for the homeless rough sleepers. The support for one of th8 $KY15 alone enables just und8r 100 children lo hov8 breakfast ea¢h week. vAth lurther LN)xes going to their food panty to suprx>rt families In one of the most deprived areas of Wales. Th8 provis*N are collected from the Cathedral tach week by a group of children wlh their teathers. Thg Congregational Committee has uxrtinued to meet throwJhrArt the ygar and b8 a congr8gational VOi¢8 for the promotion of th8 Cathedral o)mmuniVs Irf& arid ministy. A mmuni110n$ committee conb'nues to look at ways to develop and improvè CommunlI0n$ within Ihe Cathedral and to those who vlsf(. There 15 a steady flow of pecyle COFrwng in lo visil. to way, find a still space in which to sit. or looking for assistance and finding an open walcome. is om of only a v8ry small number of religious buildings open in the cty all (ky and every day. Th8 Cathedral has been a beacon on the hill for 1500 years. and we Irust in God's gtaco Ihat it wll eontinuè to be $0 f many generations to t%mo.
The Cathedral Church of St Woolos. Newport Trustees. Annual Report (¢onffj Year ended 31 December 2025 Flnandal revlow R1¥* Poli¢y Newport Cathedral regnIseS the need to hold reseNes to ensure funds are availablg to provide continuing mIssn should the ine4)me levds faH. Reserves are also requffed to meet Ého future maintenance progr8mme for the Cathedral and Church buildtngs. Thè Chapter hdds in free resee5 suffiuent funds to 1Ver 6 months of the resources exp6nd8d in general funds. At this lgvel the fflgmbgrs of the Chapter feel that they would bg abl8 to wnlinue tho cyrrenl a¢tNilies of the Cathedr81 in the event of a sancan1 drop in funding. It would be rbecessary to consKler how the funding would be replaced shoukl this happen. The level of reserves of Ihe chaitty after the unreslrth nel assets unrestricted tanglble assets and designated reserves ¥thich aMnts to £180.619 {2024.. £169.IY291. Rèsults The total incoming resources decreased to £487.12112024: £511.879). The level of direct vcAuntsry eontrilxrtiorrs at each act of ¥whip, exduding recL4imed through Glft Aid giving arnounted to £78.345 {2024: £55,713). This represents an increase of £22.632 12024.. £7,206). This followed a successful giving renewal programTne during Lent 2025. The level of support shcAved the commitment of the congregation lo the lrfe and WFiness of the Cath&Jral. The 18v81 of eXpendIre aThK)unted to £604.850 {2024: £652,410). Th& Mlnlsty Share payable amounted to £85.114 (2024: £85.0871. Donations and mission payments made during the year amounted to £8.598 12024: £10.467), lh• funds for which were eolWed during either regular or special services. The overall decrease In the tevel of unrestricted fvnds amounted to £79.870 12024: £187.425). The designated fijnds indude the actNFties wthin thè Cathedral i.e. Bell RNW and Social GTOUPS. all funds used by the actmty gro¥Jps are Telained for thr use but will be retumed to general funds upon cessation of actNity. Inv•$tmont poll¢y and oblectlves The Chapter has invested in specialised unit trusts. designed for the chafity sector. The Chapter has lakon specialist iTweslment advi¢& regaEn9 the investrnents they control to maximise in¢ome, inv8Stad In ling with the Ethica Investment criteria of the Church in Wales. Funds invested include sluS fun¢Js and those specffically donated or bequeathgd. Some fvnds bequeathed are held by thé Representativ8 ofthe Church in Wales who act as StodIan Injstees. The trustees, annual reivt was aprwoved on 3 June 2026 arKI signed on behaK of the board of trustees by.. Th8 V8ry Rev8r8nd l Blai Trustee
The Cathedral Church of St Woolos. Newport Independent Examinerfs Report to the Trustees of The Cathedral Church of St Woolos. Newport Year ended 31 December 2025 I report to the trustees on my examination of the financid statements of The Cathedral ChLsrch of St Woolos, Newport (Ihe charity) for the year ended 31 Decembor 2025. Ro8pon$lbllltlos and basls of As the trustees of the chaiity you are r8StMMibEe for the preparation of the finartial stst&ments in acciNdan¢e with the reqlirements of the CharlS Act 2011 (Ihg Arti. I report in respect of my wmination of the clwtys fmancial statements caryied out under se¢bon 145 f the 2011 Act and In carrying out my examinabon I have ftJlh)wed all applicable Dwections given by the Charity Commission under secti( 145(5Xb} of tha ACL Independent oxamlnorfs statement Since the chafws gross income exceeded £250.000 your examirTrer must be a member of a txxly listed in section 145 of the 2011 ACL I confirni that l am qLsalrfied to undertake the examiTFation beSe l am a member of the Instibjte of Chartered Puounlants in England and Wa5 IICAEWI. ich is one ol the listed bodies. I have completsd my examination. I corfFm that matertal matters have come to my attontion in Connecti wrth the examinatb)n giwng mg Cause to believe that in any matsrral respecL accounting records were not kept in respe(X of the tharity as required by section 130 of the the fmanfxal statements do not wilh those records: the financial statements do not CoMY with the applicable requirements cfjncemlng the form and content of accounts set in the CharÉties (Accounts Reports) Regulation5 )08 other than any requirement that the a(wunts givo a 'true and fairf view which is not matter conwdered as part of an iThJeperKlent exarrHnation. I have no concems and have (Thie across no other matters in connection wtth th& examlnauon lo whtch attention should be dra*x In thls rewt In order to enae a proper undeTStanding of the accounts to be reached. Mr Jonathan Rhodes Bsc BFP FCA Independent Examiner 24 Bridge Street Newport South Wales NP20 4SF 3 June 2026 10
The Cathedral Church of St Woolos, Newport statoment of Financial Actlvlties Year ended 31 December 2025 2025 UnrestrFCted Restricted fvnds funds Total fiind$ Total funds 2024 Inme and èndowments Donatrons and legacies Charitable activitS Investment inco other incom8 195.g79 24.659 24.474 4.180 141,391 85.114 6,185 337,370 109,773 30.658 4.180 340,757 128.880 35,066 7,176 Total Incomo 249.292 232.690 481.981 511,879 Exwndlture Expenditure on raising ftFnds'. InveslThnt managemènt costs Exp8ndtture on charitsble aclivthes TL>L*l expenditure 4,974 259.5 4,974 594.736 4,870 647,540 9.10 335.147 264,564 335.147 599.710 652,410 Nel gainslllossos} on invesknents 12 24.576 18.622 43.198 137,3361 Net expondtturn 9,304 183.8351 174.531) (177.8671 Transfers belween funds {99,300) Net movement In funds {89,996} 15,465 174,531) {177.8671 Roconclllatlon of funds Totsl hjnds brought foN8 Total funds urrfod forward 1.076.535 404.893 1.481.428 1,659.295 986,539 420.358 1.406.897 1,481,428 The statement ol firÈancial activtties includes gans and ret>)gnised in the year. All income and expenditure deriva frc¥n t4)ntin¥Jing acbvFties. Th• nol•s on p•9•$ 13 to 31 form part ofthp•o fincIal ¥tat•rnents. 11
The Cathedral Church of St Woolos. Newport Slatement of Financial Position 31 December 2025 2025 2024 Flx¢d assots Investments 16 869.556 992.832 urrent assets Stocks Oebtors Cash at bank and in hand 17 18 5.292 98.029 466.924 7.308 136.657 372,014 570.245 515.979 Credltorn: amounts lalllng dug wlthln on• y•ar Not CllTr8nt ass•ts 32.904 27.383 537,341 488.596 Total assets less ¢utt•nt Ilablllti 1.406.897 1.481,428 Nèt absèts 1,406,897 1,481,428 Funds of the charfty Restricted funds Unrestricted funds 420.35B 986.539 404,893 1.076,535 Total charfty fvnd$ 1,406,897 1.481.428 These financial statements were approved by the board of truste8s and authorised for issue on 3 June 2026. and are signed on behalf ofthe board by.. The Very Reverend 181ack TTUSte8 Tho not•• on pag•g 13 to 31 forni part ofthw fin1 ¥tatwnenls. 12
The Cathedral Church of St Woolos. Newport Notes to the Financial Statements Year ended 31 December 2025 General Informatlon The charity is 8 public benefit entity and a registered charity in England and Wales and 15 uninc0)rat8Q1. The address of Ihe prI1PaI offKo is The Cathedral Office, 105 Stow Hill, Newport. NP20 4ED. Statem•nt of compllan¢e These financlal staternents have been prepared in Complia wlth FRS 102. 'The FinanGial Reporting Standard applicable in the UK a[ the Republic of Ireland.. the Stat&menl of Recommended Practice appli1ble to charitEs preparing the accounts in a¢¢ojYjar wtth the Financi81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} {Char¢lies SORP IFRS 102)) and the Charities Act 2011. A¢countlng poltcles B•$ls of preparatlon The financ4al statements have been prepared on the historical cost basis. as modifi8d by the revaluatn of certain financial assets and liabblit4e8 and investment WOFertte¥ measured at fair value through income or expenditu. The financial statements are prepared in slerling. whth k8 the functional (JJrrency of the entity. Golng ¢on¢gm There 8re material uncertainlies abr the C1S abilty io continue. Dlsclosur9 exofftpllons The entity satisfies the criterta of being a qualrfying entity as defined in FRS 102. Judgements and key Sour$ of ostknallon uncwlalnty The preparab'on of the fin8ncAal statements requires management lo make lud9ements. esllmates and assumplv)ns that affect the amounts reported. These estimates and judgements ar8 contlnually rewewed and are based on experience and other facto, 1ndlIng expedation$ of future events that are believed to be reasonabl8 under the Circurrt5tan. Fund a¢countlng Unrestricted fuThds are available for use al the discretM)n of the trustees to further any of th& charity's purF4)ses. Designated funds are Unrestri& funds &2rmarked by the twslees parbcuL8r futu prolect or cummitsnent Rtricted funds arg subjected to restrict•)ns on their expendiiure dedared by the donor or through the tem)s of an appeal. and fall into one of iwo sub-classes: reslrictsd Income funds or endowment funds. 13
The Cathedral Church of St Woolos, Newport Not8$ to the Financial Statements Year ended 31 December 2025 A¢utIng pollcles (Ctt Incomlng re$ourc•s l incoming resources are irK4uded in the stslement of finanaal activilbes when entFilement has passed lo the charity. it is probable that the economic benoffits assated with the transaction will flow to the charity and the amount can be reli8bty Measu. The followtng specific policies are applted to PofticuL4r cate9)ries of ints)me: income from donalton5 or grants rwnis8d when Ihgr9 Is aViden of entiU8ment to the gfft. relp1 is Pfobabk and its amount can be measured reliably. legacy fftc¢)me Is recognised Ythgn receipt is Ffobat4e and entillement is established. income from dcated goods ts measured at Ihe fair value of the gocrfjs unless this is impractlcal to measure reliabty. in whth case the value i8 derived from the cost lo the donor LY the estlmated resale value. Donated facilrties and seNices are recognisod in the accounts when received rf the v81ue (an bg reliabty measured. No aww)unts are induded for the contribution ol general voluntee. 1ftMe from ¢tracts for Ihe suppty of services is regniSed wilh the delivery of the contracted ser¥ice. Thi% 15 classtfied as nStricted funds unless there is a Contractual Tequiremenl for it to be spent on a paitwl8r wrF¥)$8 and relumgd If urrsp8nL in which case It may be regarded as restricted. Resour¥ oxponded EXnditUre is reccgnised on an accruals basi% as a liab¢lty is inwrred. Expenditure includes any VAT which cannot be fulty recovered. arKI is dassified under headings of the statement of financial athl1 lo whth it relates: experKliture on raising fur5 M)dleS the costs of all fvndraising activities. events. non- tharitable trading actswties. and the sale of donated goots. expendsture on charitable a¢tÉ¥tfigs indudes all costs incurred by a charity in undertaking activitS that lutlher its tharitable aims trx the benefft of its benefiuaries. induding those support costs and costs relating to the gDverna of the chaity apwrticffted to tharitable aclivities. other expendliure inc4udes all expdItre Ihat is neilhgr rglaied to rais9 funds for the charity nor part of its experKliiure on tharitale acbviknes. All costs are alkxated to 8pdItre catews reftecting use of the resource. Dect costs attributable lo a ngle 8ctivJty ar• allor218d diraclly to that activity. Shared costs are apporuoned bètsyeèn the actlvilles they contrJute lo on a r8asrmabk8. justifiable and D)nsistsnl basts. Unlisted equity investments are initialty re(OTded al rx)sL and subsequently measured at fair value. If fair walue cannot be reliabty measured. assets are measured at cost less impaiment. Listed investments are measured at fa valuè wlih changes in fair valua b8ing recognised in ncome or gxpendituro. 14
The Cathedral Church of St Woolos, Newport Notes to th• Financial Statements (¢wthgd) Year ended 31 December 2025 Accounting poll¢lgs Invostment property Investment propety is inibally recAYded at (x)sL which includes purchase pr[ and any dire¢Uy attributable expendi1v. Investment properly is revalued to faw value ot eaGh reportin9 date and any changes in fair value are recognised in pmfit or loss. If a mllablo measure of fair value no longer not available without und¥Je cost or effort for an item of inveslm8nt propety, it shall be transferred to tangible assets and treated as such until it Is expected thal fair value will be reliably nSUrable on an onsoing basis. The Invesknent propety was sokl during thg year. Impairmont of fix•d assots A remew for indicators ol impairment is carried rArt al each rerx)rting date, with the recoverable amount being estimated where sy¢h InditOrS exist. Where the carrying value exceeds the recoverable amounL the asset is impaired acc%)rdingty. PrNJr impairments are also reviewed for Fvssible reversal al each retthmig date. Stocks Stocks are measured at the k5wer of (xjst arKI estimated selling Pri less costs to cnmplete and sell. Cost includes all costs of purchas8. CX)5ts of nversl and other costs incurred in tngIng the stock to its present location and conditKJn. Flnancial instruments A financial assel or a finanoal liabiKty is recogni8ed only ¥&hen charity becomes a paty lo the contractual provisions of the RtslrumenL 8astc finanthal instruments aro initialty renIsed at t amount receivab or payable including any related transaction costs. Current assets 8nd current Irabilities are subseqLÈenly MeaSud at Ihe cash or other consideralKn expected to be paid or Teceived and not discounted. Debl instruments are subsequenty measured at arnorti5&J c4)51. Where inveslments in shares are pubtY traded or their fair value can OtheNSe be measured reliabty. the investment is subsequently measured at faif value wth changes in fair value recognised in inwme and eynditure. AN other such lnve5tThts are subsequenuy measured at cosl18ss impaimienL Other finanrAal instTuments. induding derivatNgs, are Initial recognise(l al falr value. unless payment for an asset is defeed beyond nomial business temis or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discovnled at a market rate of terest a similar debt inStrUnI. Other financlal instruments are subseouenty measured at falr value. with any change5 recognised in the statement of financial actNities, with the exception of hedging instruments in a dgsignated h8dging relatiohlp. 15
The Cathedral Church of St Woolos. Newport Notes to the Flnanclal Statements Year ended 31 December 2025 AcC¢ntIng poll¢los Flnanclal InstnHm?nts (conthK Frnancial assets Ihat are measured al cost or amortised (#)sl are revwed for objective evidence of impairment at the end of each reporting dale. If there is objective evidence of impaimienL an impaimienl loss is reJgniSed under the apprOprle heading in statement of financial actNities in the inillal garn was rwnksed. For all 8quty instruments regardless of signffi(an(. and other financial assets that are indNidually signthcanL are asse&wJ indwidually for impaimient. Other financial assets are either assessed individually grOUd on the basis of similar credtt risk chardCteristi¢x. Any reversals of wnpaiTment are Tecogniwj immedialety, to the exienl that the reversal does not result in a caryng amount of Ihe financial asset that exceeds what the Can9 amount would have been had the impaimient not preYSlY been recwised. Donatlons and logades Unrnstricted Restricted Total Funds Funds Funds 2025 Donatlon$ Donations MusirJCho MusidChow- French Huguenot Gtft Fo(Kl Bank Miss¥)n Other donations Bellringers 70.205 70,205 16,166 2.000 5,603 16.166 2.CKIO 5.603 10.897 1.512 10,897 1,512 Legad Legacigs 54,1 54.190 16
The Cathedral Church of St Woolos, Newport Notes to the Financial SLements (cojth Year ended 31 December 2025 Donatlons and1oga¢l•$ UrtrestrKted R8sth"¢ted Total Funds Funds Furlds 2025 Grants Benefact TTUSt- Wages Diocesan Board of Finance 30 Something Representative Body of the Church in Wales- C8thedral Roof Representative Br of th8 Church in Wal8s - St Lukes Chapel Representative Bthjy of lh8 Churth in WaEes- Inlemal Llghttng LPWG VAT- Intemal Luhting Benefact Trust- Intemal Lighting Representative Body of Ihe Chur(* in Wates - Gully Protsction Representative Y of Ihe Churth in Wa- Exiemal Lighting Bell Refurbishment LPWG VAT- 14th Bell LPWG VAT- St Luke's Chapel LPWG - Gully Protection 6,973 6,973 65,981 1.650 65,981 1.650 29,111 29,111 67,896 67.896 5,186 5,186 195.979 141,391 337,370 Unrestricted Funds Restricted Total Funds Funds 2024 Donations Don81ions Musicjchoir MusiclChow- French HugLWM)t Gfft Aid Food Bank Mission Other donaknns Bellringers $5.713 55,713 6.633 1,000 10,364 240 710 4.184 9,786 6,633 1.000 10.364 240 710 4.184 9,786 Legacies Legacies 17
The Cathedral Church of St Woolos, Newport Notss to tho Financial Statements Year ended 31 December 2025 Donatlons and l•ga¢les (¢ Unrestricted Restricted Totsl Funds Funds Funds 2024 Grants Benefact TTUSt- Wag6S Dictesan Board of Financo 30 Something Represenlalive Body of the Churth in Wales - Cathedral Roof RepresentatNe BLKfy of the Churth in Wal85 - Si Lukes Chapel Representative Body of the Church in Wakn - Inlgmal Ltghting LPWG VAT- Intemal Lhjhting Benefact Trust- Intemal Lighting RepresentatNe BcKty of th8 Church in Wale5 - Gul Protection RepresentatNe Bcdy ol the Churth in Wales - Extemal Lighting Bell Refvrbtshment LPWG VAT- 14th B811 LPWG VAT- St Luke's Chyl LPWG - Gully Protecti 8,301 8,301 58.476 81 58.476 81 9,882 9.882 12.071 12,071 95.637 41.631 14.OlXI 95,637 41.631 14,000 2.080 5.140 4.828 2.080 5.140 4.828 124,553 216.204 340,757 Charllablo actlvfti•s Unrestricted R&strict8d Total Funds Funds Funds 2025 Church in Wales Fees. activiti8s and shop income Rontal ir¥xtrme 85.114 85.114 24,659 24.659 24.659 85.114 109,773 Unrestricted Restricied Told Funds Funds Funds 2024 Church in Wales Fees. actNitie$ and shop incomo Rental income 85.087 85.087 40.252 3.541 40.252 3.541 43.793 85.087 128.880 18
The Cathedral Church of Sl Woolos. Newport Notes to the Flnanclal Statements (C? Year ended 31 December 2025 Invostmont Income Unrestricted Restricted Total Funds Funds Funds 2025 Income from Ilsted Investments Bank interest receivable 17.650 6,824 6.185 23.834 6.824 24.474 6,185 30,658 Unreslricted Funds Restricted Total Funds Funds 2024 Income from listed investrnents Bank interest receivab 15,186 10.051 9.829 25.015 10,051 25,237 9.829 35.066 Oth•r incom• Unrestricted Funds Restricted Total Funds Funds 2025 Other income 4.180 4.180 Unrestricted Funds ReStCted Total Funds Funds 2024 Other income 4.074 3.102 7,176 Invastmgnt manag•m•nl sts Unrestricted ReStcted Total Funds Funds Funds 2025 Investment management cxists 4.974 4,974 Unrestricted Funds Restricted Total Funds Funds 2024 Investment management costs 3,773 1,097 4.870 19
The Cathedral Church of St Woolos. Newport Notes to the Financial Statsments Year ended 31 December 2025 9. EndItUre on charftablo xuvluos by fund type Unrestricted Funds Restricted Total Funds Funds 2025 General Funds Mission Music Costs Representative Body ofthe Church in Wales- Inlemal Lighting Dlocesan Board of Finance Repre5entaliYe Body ofthe Church Wales- St Lukes Chapel West Tow8r Representative Boty ofthe Chunh in Wales- Cathedral Roof The Benefact Trust- Intemal LNJhting LPWG VAT- Inlemal LKdhtir LPWG VAT- 14th Bell Rescue Appeal - balance fkx The Benefact Trust- Wages Church in Wales Bellring8rs Legades Representslive Body of lh8 Church in Wales - Gul Protection 30 Somethings MLtsiclChoir- French Huguenot Resilignc* {Panty on the Hill) Representstive Body ofthe Church in Wal8S- Extsmal Lighting LPWG- Gully ProteclM)n Support costs 174,097 12.386 186.483 21,438 21.438 11.350 11,350 42.500 29.064 930 930 6,973 85.114 3.719 6,973 85.114 3,719 9.146 9,146 53.169 2,207 1.000 1.175 53.169 2.207 1,000 1,175 130.500 5.186 130.500 5.186 4,782 594.736 4.783 259.590 335.147 Unrgstricte(l Restricted Total Funds Funds Funds 2024 General Funds MissKJn Music Costs Reprgs8nlative Body ofthe Churth in Wales- Intemal LkJhtlng Di<ycesan Board of Finance Representative Body of ts Church in Wates - St Lukes Chapel West Tower Representative Body Of Church in Wales - Calhedrydl Roof The Benefact Trust- Intemal Lt¢JhlirwJ LPWG VAT- Intemal Lighting LPWG VAT- 14th Bell Rescue Appeal . balance for fiot The Benefact Trust- Wag9$ 206,653 9.757 206.653 10.467 20,416 710 20.416 176,307 176.307 42,688 42,688 14,821 14.821 666 14.000 37.360 5,140 11,271 8.301 14,000 37.360 5,140 11,271 8.301
The Cathedral Church of St Woolos, Newport Notes to the Flnancial Statements (¢onthu•dJ Year ended 31 December 2025 Churth in Wales Bellringers Legacies RepRsenlalive Body of the Church in Wales - Gul Protection 30 Somethings MusirJChoir- Freh Huguenot Resilience (Panty on the Hill) Representative Body of the Church in Wates - Extemal LKJhling LPWG - Gully ProteGlion Support costs 85,087 8.812 85.087 8.812 5,551 5.551 236.782 410.758 647.540 10. Expendltur8 c*n charltsblo a¢tlvltles by adlvlty typo undertaken Granl funding directly of a(aivtties Support Total furHIs 2025 Total fund 2024 General Funds Mission Music Costs Representative Body of the Church in Wales- Inlemal Lighting 0¢San Board of Finance RepresentslNe Body of the Church in Wales- St Lukes Chapel West Tower Repres&ntstNe Body of Ihe Church in Wales- Cathedral Roof The Benefact Tt- Intemal L¥Jhting LPWG VAT- Intemal Lighting LPWG VAT- 14th Bell Re$uJe Appeal - balance for ftcM)r The Benefacl TfUSt- Wages Church in Wales Bellringers Legaaes 177.885 8.598 186,483 206.653 10.467 20.416 21.438 21,438 11,350 11.350 176,307 42.5 42.500 42,688 14.821 29,064 930 930 666 14.000 37.360 5.140 11.271 6.973 85.114 3.719 9,146 6,973 85.114 3,719 9.146 8.301 85.087 8.812 21
The Cathedral Church of St Woolos. Newport Notes to the Flnancial Statements (¢ Year ended 31 December 2025 Repr8sentativ& Body of the Church in Wales- Gully Protection 30 S¢ynethings MusicJChoir- Frenth Huguenot Resilience {Panty on the Hill) RepreserrtatNe Body of the Church in Wales- Exlemal Lighting LPWG - Gully Prolethon 53.169 2,207 53,169 2.207 1,000 1.17S 1,175 130.5LY) 5.186 130.500 5.186 4.782 4,782 5,551 581,356 8.598 4.782 594,736 647.540 11. Analysis of grants 2025 2024 Gfants to instituti¢)ns Grants to institutions 8,598 10.467 Totsl grants 8.598 10.467 12. Net gaIno0$S•s) on Invest Unrestricted Restrlcled Totsl Funds Funds Funds 2025 Gainsl(lossesl on investrnent property Gainsl(lossesl on listed irÈveslments {3.lYJO} 27.576 {3,000} 46,198 18.622 24.576 18,622 43.198 Unrestricted Restricted Total Funds Funds Funds 2024 Galnsl(losses) on investment Fryerty Gainsl(losses) on lisled IVlmentS (70,(KJO) 27.794 170.0001 32.664 4.870 (42.206) 4.870 137,3361 13. Independent examination fees 2025 2024 Fees payabte to the independenl exarn8r for. Independenl examination of the financial staterrnnts 4,782 4.620
The Cathedral Church of St Woolos, Newport Notes to the Financial Statements Year ended 31 December 2025 14. Staff costs The total stsff costs and emth beneffts forthe reporting period are analysed as follows.. 2025 2024 Wages and SarleS 133.137 125.866 Tho average head count of empw during the year was 6 {2024: n. No employeg received employee beneffts of more than £60.11(Kl during the y8ar12024.' Nil}. Kty Management Personn81 Key management personnel include all persons that have aulhorlty and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid lo key managemenl personnel for seThices PfOVKl&J to the chavity was £83.655 {2024£77,769). 15. Tntstte remuneratlon and •xp•ns•s No remunerabon or other benefits frDm empkyment with Ihe charity or a reloted entity were received by the trustees. No trustee expenses have b8on inwrred during Ihe year. 16. Investments Cash or cash equivalents investments Investment properties Total Cost or valuatlon At 1 January 2025 Add¢bons Disposals Fair value movements 94.744 733,088 992.832 129.747 179.794 309.541 {210,159) (103,8561 1165.000) (479.015) 46.198 46,198 165.000 At 31 December 2025 14.332 855,224 869.556 Impalrniont At 1 January 2025 and 31 December 2025 Carrylng amount At 31 Dec8mber 2025 14.332 855,224 869.556 At 31 December 2024 94.744 733.088 165.000 992.832 Al investments shown above are hehl atvaluation. Invgstmgnt propwll•s Investment property was 10 Clifton Road. Newwt. The titte to the propety was regtered wth ts Represent81ive Bcty of the Church in Wales. 23
The Cathedral Church of St Woolos, Newport Notes to the Financial Statements Year ended 31 December 2025 16. Inwsbm•nts Flnancial a¢ts held at falr valug The fair value of the Investment Propety has been arrived at on the basis of a valuation carried fArt by Linells Prop* Consultants on 19 knJust 2022. 17. Stocks 2025 2024 Raw malerfals and consumables 5,292 7.308 18. Debtord 2025 2024 Trade debtors Prepayments and awued income Other deblo 2,099 129,148 5.410 98.029 98,029 136,657 19. Crodltors: amounts falling du• wlthln on8 yur 2025 2024 Trade crèdltors Accruals and doferred incomg Other creditors 836 9.354 22.714 4,000 5.364 18.019 32.904 27.383
The Cathedral Church of St Woolos. Newport Notes to the Financlal Ststements Year ended 31 December 2025 20. Analysls of ¢harltablo Thd$ Unr•strlctsd funds At1Jan 2025 Gains and At 31 Dec 2025 Income ExdItra Trnnsfets General funds Designated fund - Extemal Lights De5Egnated fund - Gulty Protection Designated fiJnd- Chikjren's and YoLrth Missk)n Designated fund - Wesl Tower Designated fvnd - Legaues 891878 195.102 {255.418) (147.112) 24,576 710.026 100.C(Jo {100.0(M)) (so.0) 3,657 12.188) 1.469 230,000 54.190 (9.146) 249.292 {264.564) 199.300) 45,044 1.076,535 24,576 986,539 At1Jan 2024 Gains arKI At 31 Dec 2024 Income Eypenditure Transfe General funds Degnated fund - Extemal Lights Designated fvnd - Gully Protecbon Designated fund - Children's and Youth Mission Designated fund - West Tower Designated fund - Legac68s 1.260.303 197.657 (240,555) (282,321) 142,206) 892,878 100.C 100.OCW) 50,000 3.657 3.657 30,000 1.263.960 197.657 (240.555) (102,321) (42.206) 1.076.535 25
The Cathedral Church of St Woolos. Newport Notes lo the Financial Statsments (c Year ended 31 December 2025 20. Analysls of ¢harItab funds The designated funds represenl repairs and Maintenan woieds al the Cathedral. Once the 0Se¢ts ar9 completed. the funds revert to the Cathedral genwJ ftlnds. The ChildTrn's and Yith Misskjn fund is made up of furKls donated from the Glrfs Brigade and is being used lo lund Childn and You¢h Mission iniiialives. The designated fund for Extemal lJhts is wrt toward the o)st of external lights across the Cathedral gmunds. The project was comp18ted during 2025 and cosl circa £135.000. Match furKling of was made available the Rewesentative Body of the Church in Wales once the project was completed. The designated fund for the North GUI is to carry out rn•nt9nc8 V•ryk on Eedger stones and to build a wall and install a railFw. Klentified as a health and safety requir8ment. The project was completed during 2025 and cost fArca £63.OCiI. Matth fund19 was made available from the Representative Boty of Churth in Wales an the pmiect W8$ Competed. Thg destgnated fund for the West Tty•M for cost of works to ¢ary out maintenance of Ihe Tower. This an ongoing of w(Yk. Vlith circa £29,000 spenl towards prc3re5sing thi5 work in 2025. An addilKJnal £200.000 has been desvJnaled to the Tower. The designated fund for Legacigs is fv lurKls left to the Cathedral Ihal (zn be used for worts as specffied by Chapter. Restrlct¢d funds At1Jan 2025 Gains and At 31 Dac 10&88s 2025 Refurbishment Fund Rescue App881- balance for flc Chan¢el Repa Fund John Lester Legch Griffin E M Jones MUSK FoUnd8n Cathedrdl Endowment Music Education & Support Resillance {Previou$ly Pantry on the Hllll French Huguenot {Musi¢l Benefact Trust Wages 851 614 1,465 28.642 2,420 31.062 1.208 14.645 217,989 14.200 196.661 6.185 15,143 128,206 128,206 6.951 16,166 (21.438) 1.679 1,175 11.1751 <1,0001 2,000 6.973 (6,973) 26
The Cathedral Church of St Woolos, Newport Notes to the Flnancial Ststements (nl•I Year ended 31 December 2025 20. Analy515 of charltable funds (co•Jthwd) Other Ballringars 30 Somelhlrvjs Representative Body of the Church in Wales- Intemal Lighting Benefact Twst- Intemal Lighting LPWG VAT- Intemal Lightsng LPWG VAT- 14th Bell Representatfve Body of the Church in Wales - st Lukes Chapel Represenlalive Body of the Church in Wales - Cathedral Roof Church in Wales LPWG VAT- St Luke's Chapel Mission Representative Body of the Church in Wal8s- Gulty Protection Representative Body of the Churth in Wales- Extemal Lighting LPWG- Gully Protection 9.636 10,364 1.171 10,897 1.512 {12.386} (3.719) 12.207) 8.1d7 8,157 614 (11.350) 11,39) (930) (85,114) 930 85,114 4,828 {4.8281 29.111 (53,1691 29.244 5.186 67.896 1130.5CKI) 62.604 5.186 {5.186) 232,690 (335,147) 404.893 99.300 18.622 420.358 27
The Cathedral Church of St Woolos. Newport Notes to the Flnanclal Statements Year ended 31 December 2025 20. Analys1$ of ¢harltabl• fvrbds At1J8n 2024 Gains and Al 31 Dec losses 2024 Income Expendilure Transfers Bell RefU1Stent Fund Rescue Appeal- balance for floor Chancel Rgpa Fund John Lester 2.080 (2,080) 4.670 {11271) 6.601 851 851 28.642 1,208 14,200 186.898 28,642 1,208 14.200 196,661 Griffin E M Jones Music Foundation Cathedral Endowment Music Edu(atton & SLFPWrt Resiliance IPr8viousIy Panty on Ihe H1) French Huguenot IMu&c) Benefacl Trnst Wages Other Bellring9rs 30 Somolhings Represents¥8 Body of the Church in Walas- Inlemal Lighting Benefact Trust- Inlemal Lighting LPWG VAT- Internal Lighli LPWG VAT- 14th Bell RepresentslNe Body of the Chur¢h in Wales- St Lukes Chapel Representstwe Body of the Church in Wales- Cathedral Roof (1.097} 4.870 124,367 3.839 128.206 20,734 6.633 {20.416) 6.951 240 1.175 I.0 8.301 7,286 9.786 81 (8.301} 9,636 10.364 1.171 (8.8121 95,637 (176,30n 80.670 14.000 {14.OiJ)) 41.631 {37.360) {4.271) 5,140 (5.140) 12.071 (42.688) 30,617 9.882 (666) {9216) 28
The Cathedral Church of St Woolos. Newport Notes to the Financlal Ststsments (¢th7thw Year ended 31 December 2025 20. Analysls of ¢harltable fvnds {¢onU•N Church in Wales LPWG VAT- St Luke's Chapel Mi$s¢on Representative Body of the Church in Wales- Gully Protection Representalive Body of the Church in Wales- Exlem81 LIgh9 LPWG - Gulty Protectron 85.087 {85,087} 4.828 710 4.828 (710) 395.335 314.222 (411.855) 102.321 4,870 404.893 29
The Cathedral Church of St Woolos, Newport Notes to the Flnancial Statements Year ended 31 December 2025 20. Analysls of ¢harltablg funts {¢w Bell refurbishment fund represents money ttllected and Costs cUrre(l. Resuje Appeal was launched to provide fvnds foi the [efuthshrrnt of the Cathedral r(y)f. tower ond any other part of the Cathedrdl. Th8 Chancel Repair FuTrJ was bequeathed for St Wodos Cathedral. John Lester Leach is hehj by the Rewesentative 8cty of the Church in Wales for thg benefrt oflhe Cathedral. The Music Foundation was established from ants fmm the Ouseley Trust 1£45.000}. the Friends of Cathedral Music {£65.000) and the Pilling Trust {£50.0(K)). Incom& to be used for supporting music n the Cathe(Iral. The Cathedral Endowment was established from th8 a¢Y of Mvss mJorie Jones {£50,000). Income lo be used f(x general Cathedral purIKe5. The Griffin and E M Jones funds are rgstricted endowments held the Representatlve Body of the Church in WaFes ComrTh)n Investment Fund and manag8d by Monmouth Diocesan Board of Finance as 51(lian tntee. Pantry (M the Hlll funthNJ was received for Specific projects in the communty. French HugLtenot fvnding was re(th&l towards music in the Cathedral. The Headley Trust grant was received iowafds the phasod refvrbishm8nt of Ihe Cathedral fabrK. Representative Body of the Churth in Waes frjnding is salaries. 14th Bell fvndirvJ was receiwj frcth a wivate d(mat. Other reslrict8d lunds represent Mon Irom GAVO fo1 bank and other fur#Js. The BellTÉTrJers fund 15 members. (x)ntributi for Spe4 expenditure latifi0 to thr Bell Tower. The 30 Somelhings fvrKI 15 a 50cial luNI for parish membws. Representative BLxly of Ihe ChuTch in Wales - Extemal Itqhting is for the cost of exlemal Ilghls auoss the Cathedral grounds. The projecl was completed during 2025 arKI cost drca £135.000. Match furnfjing was made availai from the Represenlative Body of the Church in Wales once the proje(a was comp18t8d. Representatlve Body of Ihe Church in Wales - North GUI is to carry OLrt maintenance work on ledger stones and to buld a wall and install a railing. hjenb'fied a5 a health and safety requirement The project was c1)Mpted during 2025 and o)St circa £63.000. Match funding was madg availablo from the Rer*ewbtative Bcty of the Church in Wales ijnce the project was completed. Representative Body of the Church in Wales - Wesl Tower is for cosl of works to cary out maintenance of the Tower. This an orMJoing piece of work. with clrca £29,000 spent towards progressirvJ this work in 2025. 30
The Cathedral Church of St Woolos. Newport Notes to the Financlal Statements Year ended 31 December 2025 21. Analysls of not assets betwaen lunds UnrestrÉcted Funds Reslricted Total Funds Funds 2025 Investment properties Investments Current assets 529.407 457.132 340.149 80.209 869,556 537,341 1.406,897 Net assets 986.539 420.358 Unrestricted RestfÈCted Totsl Funds Fur>ds Funds 2024 Inveslment prorerties Investments Current assets 165.0 558,949 352,686 165.000 827.932 488,596 268.983 135.910 Not assots 1,076,635 404,893 1.481,528 22. R8lat•d partl•s Three trustees are also trustees of the Repsentative Body of the Church in Wales who have provided grant funding to th8 tharty. Th8 trustees COncw are not Fnvofved in tho docision making with regard lo the level of fvnding set. Six of the trustees are also trustees of the MonmoLth Dwesan Board of Finance who provide grant funding to the chaiity and recerve mintsty share income from the charity. Three trust were members of th8 DI58n Investmt Group. Wrth regard to the tnjstees who also Irustees of Monmouth Dioc8san Board of Finance, one twstee is Chairman and a second trustée a memb8r of Budget committee that recommends the level of share for all the ministy areas and the Cathedral of the diocese. 31
Issuer
Walter Hunter
Document generated Thu, 4th Jun 2026 12:55:26 BST
Document fingerprint 99f0af46a3b76cc684d9e4a25e2644e5
Parties involved with this document
Document processed
Party + Fingerprint
Thu, 4th Jun 2026 15:29:21 BST Thu, 4th Jun 2026 15:29:22 BST
Mr Jonathan Rhodes - Signer (fbde9ae88906b39ed2f0d6e8f6ad6b9f) Joanne Shepphard - Copied In (a8540e43a3f3496f1e083e650377d237)
Audit history log
Date
Action
Thu, 4th Jun 2026 12:55:26 BST Thu, 4th Jun 2026 12:55:26 BST Thu, 4th Jun 2026 12:55:26 BST
Thu, 4th Jun 2026 12:55:26 BST Thu, 4th Jun 2026 12:55:35 BST Thu, 4th Jun 2026 12:55:35 BST Thu, 4th Jun 2026 12:55:35 BST Thu, 4th Jun 2026 15:28:01 BST Thu, 4th Jun 2026 15:29:21 BST Thu, 4th Jun 2026 15:29:22 BST Thu, 4th Jun 2026 15:29:22 BST Thu, 4th Jun 2026 15:29:22 BST Thu, 4th Jun 2026 15:29:22 BST Thu, 4th Jun 2026 15:29:22 BST
Thu, 4th Jun 2026 15:29:22 BST
Envelope generated with fingerprint 3b15782f203a70012df40eb6bb224819 (35.176.231.177) Document generated with fingerprint 99f0af46a3b76cc684d9e4a25e2644e5. (35.176.231.177) Mr Jonathan Rhodes has been assigned to this envelope. (35.176.231.177) Joanne Shepphard has been assigned to this envelope. (35.176.231.177) Envelope generated Sent the envelope to Mr Jonathan Rhodes for signing Document emailed to party email Mr Jonathan Rhodes viewed the envelope (90.200.85.34) Mr Jonathan Rhodes signed the envelope (90.200.85.34) Sent the envelope to Joanne Shepphard for signing (90.200.85.34) This envelope has been signed by all parties (90.200.85.34) Signed document confirmation emailed to party email (90.200.85.34) Signed document confirmation emailed to party email (90.200.85.34) Signed document confirmation emails have been sent to all parties. Document URL:
https://api.signable.app/shareable/envelope?t=e614328b-1295-4e59-a78b11502b45eedb (90.200.85.34) Document emailed to party email