Wakefield
Cathedral
Charity number: 1203267
11
,@ Accounts
2023
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report and financial statements

CONTENTS
2-10
Annual report of the Chapter
11- 14 Independent auditor's report
15
Statement of financial activities
Bolonce sheet
statement of cash flows
18- 21 Accounting policies
22- 39 Notes to the finoncial statements
Tre Cothedral Church of All Saints, Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
OBJECTIVES AND ACTIVITIES
The Cothedrol Church ol All Soinls in Wakefield (also known as Wokelield Colhedroll is o Chrislian Church of the
Anglicon Commvnion and one ol three Colhedrols in the Anglicon Diocese ol Leeds.
Ecclesiastical Purpose
As required by the Colhedrals Measure 2021 memb￿$ of the Chopler of Wokelield Colhedral, os Trustees, have
due regard in the discharge ol ttieir responsibilities for the cathedral's ecclesiastical purpose as defined in the
Cathedrols Meosure 2021.. Ihot the cathedrol is the seat of the bishop and a cenlre ol worship ond mission, and
that it hos on important role in providing o locus lor the life and work of the Church ol Englond in the diocese os o
whole.
Gool$ and Objeclives
The cathedral seeks to deliver its chorilable objectives Ihrough its Strategic Vision. Flim In Hope. The Vision wa5
launched ot Advent 2020 and hos been lightly revised this year to reflect changed financial and other
circumslonces since the Covid 19 pandemic. Our Strotegic Vision hos four Gools which themselves poy dve regord
to the eccle5iash.cal purpose ol the cattiedral..
Building the Body of Christ
Being a Partner for Mission
Optimising our assets lor mission
Being o cothedrol for the whole diocese
Under each ol these gools sit a number ol specific objectives through which we seek lo deliver Ihe goals.
Publlc benellt
Chopter confirm that Ihey have complied with section 4 01 Ihe Chorities Act 2006 to have regard to Ihe public
benefit guidonce published by the Chority Commission in determining the oclivilies ol the Colhedrol. The
Cathedral not only serves the community daily in ils religious and charitable work. but is an active resource ol
national importance in the promotion ol religion. music. education. history and archilecture.
Trvstees. Report
The Annuol Report of Ihe Chapter is olso prepared to meet the requiremenls for a Trustees Annual Report under the
Chorilies SORP
The Cathedral Church of All Saints in Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
STRUCTURE. GOVERNANCE AND MANAGEMENT
The Constttutlon of Ihe Colhedrol
The Colhedrol is esloblished lor choriloble pvrposes. The Chopler, whose members ore olso Trustees lor Chorify
purposes. is responsible under requirements laid down by the Cathedral's governing Constitution and Statutes. the
Cathedrals Measure 2021 and the Charities Act 2011.
Responsibililies of the Chapter
It is the duty of the Chapter lo direct and oversee the administration ol the allairs of the Cathedral. including in
porticulor, lo order the worship ond promote the mission ol the Colhedral.
11 is also responsible for the Cathedral's financial allairs and musl prepare an annual report and audited accounts.
In regard to the annual report and audited accounts. the Chapter is responsible for..
Preparing ond publishing on onnuol report ond oudiled linonciol slolemenls which give o true ond loir view
ol the financial activities foi each financial year and of the assets. liabilities and funds at the end ol each
financial year ol the Cathedral. The report and financial slalemenls should comply in all material respects
with Accounting ond Reporting by Chorilies.. Statement ol Recommended Proctice applicoble lo chorities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic ol Ireland IFRS 1021 leffective l January 20191 |Charih"es SORP IFRS 10211 and the Charities Act 2011..
stating thal they have complied in oll moteriol respects wilh the guidelines or describing which
recommendations have not been complied with and giving reasons lor non-compliance..
Selecling suitable accounting policies and then applying them consistenlly. in accordance with applicable
occounling stondords.,
Making judgements and estimates that are ieasonable and prudent..
Keeping proper accounting records from which the financial position ol the Cathedral can be ascertained
ol any lime.,
Safeguarding the assets ol the Calhedial and hence taking ieosonable Steps for the prevention and
detection ol fraud and other irregularities.
Preparing the finonciol slolemenls on the going concern bosis unless it is inappropriate to presume thot the
Cathedral will continue in business.
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Reciuilment and training of new Trustees
Since the adoption of the Cathedral's new Constitution and Statues in 2023. Chapter has strived lo appoint
members with a wide range ol backgrounds and skills. The Cathedral Partners, Forum Isee below) should provide a
great deol ol help in achieving Ihis aim.
As the Chopler wos lully reconslilued on odoplion of the new Constitution ond Slolues, oll memb￿$ hove recently
received appropriate training.
Management of the Cothedrol
As explained in Note 17.the key management ol the Cathedial is considered to be the Chapter. Day to day
management is delegated lo the Stipendiary Clergy who are lisled in thal nole. along with their remuneration. They
ore assisted by a Chief Operoling Officer.
Remuneration ol the Stipendiary Clergy is sel by the Church Commissioners.
The Cathedral Church of All Saints in Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Full legal name and address ol the Cathedral office
The Cathedral Church ol All Soinls in Wakefield lalso known as Wokelield Calhedroll, Northgale, Wakefield WFI
IHG.
Principal office.. Cathedral Centre. 8-1 O Weslmorland Street. Wakefield. WFI I PJ.
The Cathedral registered with the Chority Commission in England and Wales in 2023.. registration number 1203267.
The membershlp of Ihe Chapt
The membership of the Chapter during the year and since the year end wos os follows..
The Very Reverend Simon Cowling,. Dean
The Reverend Conon Philip Hobdoy.. Canon Missioner
The Reverend Conon Dr Joyson Rhodes,- Conon Precentor
The Reverend Canon Derek Walmsley
Professor Michoel Clarke
Conon Danny Wilks
Canon Alison Deon
Conon Mondy Shepherd
Conon Andrew Revans
Conon Jane Evons
The Reverend Canon Paul Carfv/right
Canon Mork Bvckle
Conon John North
The Reverend Canon Dr Kathryn Goldsmith., Canon Precentor
to 31 July 2023
to 15 February 2023
from 23 Febrvory 2023
from 29 November 2023
from 29 November ￿23
from 29 November ￿23
from 21 Jonuory 2024
Rlsk and Audll Committee
11 is the duty of the Chopter to establish o Risk ond Audit Committee. the purpose ol which is lo enable Chopler
members to meet their responsibilities by providing independent oversight ol the cathedral's systems ol internol
control, risk management and financial reporting, and through supervision of the quality, independence and
effectiveness of the exlemol auditors.
The membership ol the Risk ond Audit Committee during 2023 was Cloire Lawton (Choirl, Cathy Cook, Linda
Bullock, Philip Woy and Mork Buckle
Finance Commiltee
11 is the duty of the Chapter to estoblish o Finance Committee. The Chapter members, as the charity Iruslees, are
collectively responsible for monaging the linoncial ossels ol the calhedrol. The Finance Committee mvsl keep the
och"vilies and manogemenl of the cathedral Und￿ review.
The membership of the Finonce Committee during 2023 wos Alison Dean (Chairl, Neil Hopwood, Neole Clork, Rod
Hood and Tregson Dovies.
Nomlnatlons Commlttee
11 is the dvfy of the Chopler to esloblish o Nominations Committee to undertake the following slotulory lunclions..
lo odvise the Chapter on the recruitment of nonexeculive members of chapt￿,.
lo advise the Chopter on the recruitment of members of Chapter Committees.,
lo odvise the Chapter on the troining needs ol members of Chapter,. ond
lo keep under review the skills, knowledge and experience of, as well os the diversity among, members of
the Chopler and to recommend improvements to the Chapter where they are identified as necessory.
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The Cathedral Church of All Saints in Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
In addition, the Nominotions Committee must..
advise the Chapter on the procedure for the selection ond opprovol ol candidotes for election as non-
executive members..
advise the Chapter on the recruitrnent ol members ol the Cathedral Partners, Forum..
liaise and co-operate with each other commitlee ol the Chapter (Finance. Risk and Audit).. and
recommend lo Ihe Bishop candidates lor Ihe role ol senior non-execulive member.
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The membership ol the Nominolions Committee during 2023 was Danny Wilks (Choirl, Cloire Lawton, Mike Holt and
Venerable Bill Braviner (Archdeacon ol Halilaxl
The Dloce$an Bishop
The Bishop of Leeds has Ihe principal seal and dignity in Ihe Cothedrol. He is the Visilor of Ihe Cathedral. and shall
hove oll the powers Ihol belong 0$ ol right lo the office of the Visitor.
The Cathedral endeavours to work closely with the Bishop in furthering the Cathedral as one of three Mother
Churches of the diocese. and continue5 to forge close links with the wider community. The Bishop's generous
support of Ihe Cathedral is greally opprecioled.
Fabrtc Advtsory Commttlee
Under the Care of Cathedrals Measure 2011, the Fabric Advisory Committee is responsible to the Cathedrals Fabric
Commission for England and considers applications from the Chapter in regard lo proposed development of and
changes lo the Cathedral's fabric.
The membership ol the Fobric Advi50ry Committee in 2023 wos Dr Louise Hampson (Choirl, Dr Alex Holton, Richord
Carr-Archer. Revd Jonathan Cain. Andrew Shepherd. Lisa Maclnfyre and Dr Celia Kilner.
other Groups
The Chapter moy from lime lo time establish committees or sub-committees ol the Chopter. Any commiltee or sub-
committee $0 established may include persons who ore not members of the Chopler.
Other committees within the Cathedral cover such areas as property and maintenance. welcome and h05Pltality
and the co-ordinotion of events. Others may be eslablished on an ad hoc basis for short-term projects.
Cathedral Partner5, Forum
The Cothedral Portners, Forum is on odvisory body e5toblished by Chopter to provide perspectives ond skills from
beyond the cathedral community in order to expand the cathedral, s understanding ol its mission to the city. region
and diocese.
Cothedral Community Forum
The Cathedral Community Forum is an advisory body established by Chapter to represent the interests of all
members of the calhedrol community and to promote understanding within the cothedrol community os a whole
of the role. purpose and ach"vih"es ol the cathedral as one ol the mother churches of the Diocese of Leeds.
Ihe College of Canons
There continues to be a body for oll the Cothedrols ol the Diocese of Leeds colled the College of Canons. The
College ol Canons is independent of the Chapter and neither the College nor its members lin their capacity as
such) form part ol the body corporole ol the Colhedrol.
The Cathedral Church of All Saints in Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
Cathedral officers and advisers
Chief Operoting Ollicer..
Neil Holland (to 28 February 20231
Ben Mosley (from I l April 2023 to 20 Morch 20241
Rachel Copley (interim.. from 21 March 20241
Dr Ed Jones (to l Februory 20231
James Bowsleod (from 2 FebrLJary 2023,. interim to 31 August 20231
James Bowstead (to l Februory 20231
Alana Brook Ifrom I September 20231
Barclays Bank plc. Trinity Walk Shopping Centre. Teall Way. Wakefield.
WFI IQS
Sallery LLP. Mitre House. North Park Road. Harrogate. HGI 5RX
Canon Andrew Revons
John Bailey. Thomas Ford. 177 Kirkdale. Sydenham. London. SE26 4QH
lan Roberts
Director ol Music..
Assistant Direclor of Music=
Bankers-.
Audilor..
Honorory Interim Finonce Manager..
Architect..
Archaeologist..
ACHIEVEMENTS
In describing the achievements ol the cathedral during 2023. the Trustees are confident that the cathedral. now a
formolly constituted chority, continues to deliver consideroble public benefit, not only in the odvoncemenl of
religion but also as a place which oller5 facilih.es and h05pilality to a wide range of partners in the civic. cultural.
educalionol, ond commerciol sectors ol the city, district ond diocese.
The major national highlight of last yeor lor mony was the coronation of Charles111. The cathedral was the locus for
many ol the civic celebrotions in Wakelield.. o splendid eve of coronotion concert given by our choir was followed
on the day ilself by a live public screening ol Ihe service with food. drink and bunting much in evidence. The
imporlonce ol the colhedrol, s ministy in the civic life ol our city should never be token lor gronled- the presence of
cathedral clergy at the Mayor Making. the annual civic service lor the Mayor. the Civic Festival ol Remembrance.
the porlicipolion of our choir ond clergy ol the cenoloph service on Remembrance Sundoy and the Civic Corol
Service- all these are the fruit ol some important relationships across the city that are deeply rooted bul which must
nevertheless be constantly nurtured.
As well as h05ling ond serving these formal civic occasions. the calhedral also continues lo have a wide reach into
other parts of the mony communities we seek to serve. To give a small Ilovovr.. last year we were delighted to
celebrate the 150tt7 anniversary ol Wakefield Trinity Rugby League Club with 0 Special service and reception.. we
become lull members of the regional business neknork We ore Wokelield ond hosted one ol their monthly
breakfasts with over 200 people present- many of whom had never been in the cathedral before.. we welcomed
once ogain students from Wokelield College for their graduation ceremony. Il's noleworlhy, given the seculor and
multicultural ethos ol the occasion. that the clergy are always asked to open proceedings with a prayer. And of
course. Advent ond Christmas saw the cathedrol nave filled mony limes over with concerts ond services that
reflected the importance ol this ploce as a common space lor so mony across this city, district and diocese.
Our role os one ol three of the mother churches ol the Diocese ol Leeds was highlighted in a number ol special
services. including our hosting ol ttie Bishop's annual service ol the Blessing of the Oils on Maundy Thursday. the
Inslallolion of no fewer than seven members ol the College of Conons, a memoroble service ol farewell lor Peter
Townley as Archdeacon of Pontefract. an Areo Confirmation service and a service lor the Leeds Diocese Cursillo
group. We also hosted parish visits. diocesan groups and welcomed Bishop Smitha Prasadom as our president on
Christmas Day. These occasions are a reminder that we serve the whole of our diocese. from small parts of what is
now County Durham in the north to Barnsley in South Yorkshire.
All that has so far been mentioned is a reminder ol just how important the cathedral space is to so many
individuals and communilies. Mention has not been mode, lor inslance, ol the many exhibilions we host in
partnership with organisations such as the Arl House and the Yorkshire Sculpture Park.. ol the tours. the heritage
weekend5. the Aulumn Fair ond 50 on. But the beating hearl of the cathedrol is the worship ol God which
continues uninterrvpted for 365 doys a year
and ol course for a day extra this year. Whether il is o joyful sung
Eucharist on a beautiful spring Sunday or o solitary cleric on o wet winter morning, the voice ol prayer is never silent
in this ploce. The Cothedrals Measvre. which ofler oll has the some force os on Act ol Porliomenl, reminds us that
every calhedral's primary purpose is to be centre of worship and mission. With comparatively 51ender resources. we
oim to lullil that purpose every day.
The Cathedral Church of All Saints in Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
Every English Cathedral has undergone the most significant governance chonges for over Nventy years as o result
ol the 2021 Colhedrols Meosure. During 2023 Wakefield Colhedrol become o lully-fledged chority with o new
Constitution and Slatules. a reconstituted Chapter (now formally a Board ol Trustees). and new Chapter
Committees. We are deeply indebted to Canons Alison Dean and Jane Evans for the work they undertook in
guiding us through this process. From a day-lo-day operational point ol view it may seem that nol much has
changed, but behind the scenes in terms ol governance ond scrutiny. not leosl over safeguarding, things are very
different.
The Trustees ore grateful to $0 many people who enable the cothedrol's ' eco-system, to function so well and $0
effectively lor the benefit ol so mony. To the core worshipping community lor whom worshipping in a cathedral
which is used by so many other stakeholders brings inevitable sacrifices.. to the cathedral's wonderfvl sloff team, all
of whom are integral to ensuring. both that this wonderful resource with which we have been enlrusled continues
to serve all those who use this building as fully and hospilably as possible, and that its finances are sound enough
to withstond the mony pressures we lace,. lo the cathedral's wonderful volunteers in all their infinite variety the
number ol rotas is testament to the jobs that need to be done and the Trustees are grateful lo every one of them..
lasmy to the clergy.. Revd Ruth Harris. the honorary staff chaplain.. Revd Chris Johnson and Revd Charlene Smith. the
honorary priest vicars. who serve the colhedrol so loyally while also fulfilling Iheir own ministries in Horbury and the
Mid-yorkshire NHS Trust respectively., Conon Derek Wolmsley, who combines his dioceson role with that ol
Residenliory Canon with greot diligence both on Sundoys ond on weekdoy mornings., and the Precentor Conon
Kathryn Goldsmith. appointed early in l)24.' and the Sub-Dean Canon Philip Hobday who both combine executive
dulies 0$ full time cathedrol clergy wilh their responsibilities on Chopler.
Malnlalnlng and Developlng the Cathedral Fabrlc
The past year has been one of continuing consolidation with regard to the Cathedral Church and the Bridge
Chapel. The most significont element of work was the completion ol the 2023 Quinquennial inspection of the
colhedrol, which allows Chapter to see how the building is performing ond whether there are any significant issues
to oddre55. Chopter is pleased to report that the Cothedrol Church os a whole is in good condition.. however os
with any building of this size and age. there are always some issues to address. The most significant relate to
rainwater goods and splits in leodwork.. quolotions lor these works ore being sought. In addition. Chapter is storting
to plan for the future with regard to the fabric. Some elements ol the masonry and window glass within the eastern
end ol the building are starting to show signs ol further ogeing. ond some work moy well be required in the
foreseeable future. In the meantime. more obvious and pressing issue5 will be tackled once funding can be
identified. Remaining with repoir works. quotation5 have been received lor the tower clock mechonism. ond it
would be good lo see this work undertaken ogain once funds have been idenlilied.
The Cathedral continues to take its responsibilities for reducing it5 carbon footprint seriously and is endeavouring to
strive towards Ihe targel ol Corbon Neutrality by 2030. The Fabric Advisory Commitlée has been looking at the
specialist report on the matter relating to the Cathedral provided by QODA, and in due course a strategy for
reducing the Cothedral's carbon footprint will be developed. Wakefield Cathedral is very fortunate in Ihol it has
already installed LED lighting and underfloor heating. so significant actions have already been undertaken.
Remaining with matters thol have come to the Fabric Advisory Committee. these have included the return ol
orchaeological items from previous excavotions in and around the Cathedral.. these ore currenHy slored on sile
owoiting evoluotion, and the Cothedrol continues lo wish to see the Inventory updoted. Chopler continues to seek
funding to allow this to happen.
Wakefield Cathedral is very lorlunale to have Dr Louise Hampson as the chair of the Fabric Advisory Committee.
ond her guidonce is much opprecialed, as is oll the work the members of the committee undertake. One ol the
committee's longest standing members Steve Simpson stepped down in the last fvrfelve months. Steve, s advice wa5
invaluable through the major reordering works undertaken a number of years ago. and he will be missed. The
committee continues to provide invaluable advice and support lo the Cathedral.
As port of this report, the Cathedral Architect is required lo provide a suggested budget for regular maintenonce ol
the Cathedral over the nexk five years..
2024
£000
2025
2026
£000
2027
£000
2028
£000
Projected cost
20
21
21
21
22
The Cathedral Church of All Saints in Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
The Wakef1eld Bridge Chapel falls under the care of the Cathedral. and Chapter is pleased to report that there
hove been no mojor incidents or issues during the post twelve months. Finolly, the Cothedrol wos delighted to
welcome the Colhedrol Architects. Associotion recenlly lor its AGM. It wos excellent thot this body which represents
all Cathedral Architects came to Wakefield, and il gave us a chance to show what a wonderful Cathedral
Wakefield has.
The messoge from Ihis onnuol report is Ihol the Cathedral Church ond the Bridge Chapel conlinue lo remoin in
good condition. although some issues lor longer-lerm considerah.on are starhng to come lo light. Chapter
expresses its thanks to the vergers and all those who work tirelessly and is looking fopNard lo the next twelve months
being Iruifful and eventful.
FINANCIAL REVIEW
2023 sees o continuation ol the Feasl or Fomine trend thot has been the main feoture ol Ihe Cathedral's accovnls
over the past lew years.. 2023's feast being. on the face of it. an exceph"onally lavish one.
Closer scrutiny will reveol thot of the net increose in funds of £814.925, £650,512 wos the result of revoluolions ol
vorious assets,- principally the Cathedral's properties. Before revaluotion5, the net income was £164,413. As
explained in the Notes to the Financial Statements, the assets of the former Wakefield Cathedral Music Trust totalling
£166.582 were transferred lo the Cathedral during the year. thus signilicanmy boosting this figure. Additionally.
£60.700 grant income in respect ol expenditure deferred lo 2024 was received land recognised as income) in 2(Y23.
All of this leaves an underlying deficil arising from day-to-day activities of £62.869. This represents an improvement
on 2022's pre-revoluations deficit of £91.566.
Alter deducting the items discussed obove, income hos declined slightly from 2022. However, the lotler yeor's
included £42.593 from the105s-making Cathedral Kitchen Ihal closed part way through 2022. The recovery of other
sources of income to pre-COVID-19 levels continued slowly al the start of the year. but by its end had started to
improve and this recovery is expected lo accelerate in 2024. Investment income. albeit a small part of the total. has
neorfy doLJbled in the year.
Closure ol the Cathedral Kitchen and the lack of larg&scale buildings expenditure in the year12022 saw £55.000
spent on repointing the spire) has led lo a fall in overall expenditure. Given the high rate of inflation in the first part
ol the yeor, expenditure hos nevertheless been well controlled.
As anticipated in last yearfs report. a review of restn.cted funds was undertaken during the year. This has seen the
transfer ol a number of restricted funds into the General Fund. from which the objectives of those funds continue to
be mel.
The Calhedral's Reserves Policy continues lo be sorely lested in a post-COVlD-19 environment. Net unrestn.cted
Assets have increased by ￿4.445 from £41.264 to £75.709 over the course 012023. Total Net Assets have increased
by £814.925 from £2.071.810 10 £2.886.735'. the reosons for this increose are explained above.
We continue to enjoy a constructive and fruitful relationship with our auditors Sallery LLP. whose experience of the
Third Sector ond specialist understanding of Cathedrals is ol greol benefit.
Principal funding 50vrce5
Principal sourses ol income comprise..
Grants from the Church of England's Church Commissioners
Grants from local and nationol govermnmenl ond charitable bodies
Congregolionol giving lincluding Gift Aidl
Donolions from visitors lincluding Gilt Aidl
Legocies
Charges and fees from special services. e.g. weddings and funerals
Event income
Income from property
Income from shores ond deposits
The Cathedral Church of All Saints in Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
ReseNes Poll¢y
The reserves policy is lormuloled in line with recommendolions ol the Chorily Commissioners of Englond ond Woles.
Wakefield Cathedral held consolidated total funds of £2.886.735 as at 31 December 2023 12022.. £2.071.8101- 01 this
£2.421.721 12022.. £1.740.9871 was held in endowment funds ond £389,305 12022". £289,5591 wos held in restricted
funds. The reshicted ond endowment funds ore not ovoiloble lor the generol purposes ol the Cothedral.
Aller making allowances lor those reslricled ond endowment funds. the Colhedral has designoled funds ol
£180,273 12022.. £180,273) ond o deficit on unreshicted funds ol £104.564 12022". delicil £139,C091. Funds Ihot hove
been designated by Chapter for specific areas ol ministry are not subject to any statulory restrictions and
consequently are deemed to be unrestricted funds for the purposes of this reserves policy. The unrestricted fund5
include functional assets li.e. fixluresl of £31.823 that are essential lor the Cathedral's operolional use. The lolal
bolonce ol the Colhedrol's fredy ovoiloble reserves including designoled funds is therefore £43,88612022.' £26,142).
The Cathedral's policy is to hold an amount of freely available reserves equal lo belween three and six months ol
budgeted forward unrestricted expenditure. For 2024. this is between £92.000 and £185.000. Al the end 012019. the
freely ovoiloble reserves were well within this ronge. The curloilment ol so much ol Ihe Colhedrol, s oclivify 0$ a
result ol the Covid-19 pandemic. and the associated loss of voluntary and trading income. has inevitably eroded
reserves to less than 50% 01 the lower (three monthl figure by 31 December 2023.
Chapter regards the rebuilding ol reserves to the level required by ttiis policy as a priority. and is proactivdy
pursuing ways lo build all its funds to levels sufficient to address the Cathedral's long-term sustainability.
Going C¢n¢ern
Hoving reviewed ond ossessed Ihe financial ond operotionol risks thot it believes are of most concern to the
Cathedral. Chapter has no reason to believe that there is a material uncerlainty that would affect the ability ol the
organisah.on to continue as a going concern for the foreseeable future. Chapter considers the foreseeable future
lo be twelve months from the dole Ihol the linonciol slolemenls are signed, ond hos prepored financial forecosls
which demonstrate Ihol the Cathedral will be oble to continue operations on the current basis lor that period.
Investment Powers
The Cathedral's investment powers are sel by the Cathedrals Measure 2021.
The Cathedral'5 overall investment objech.ve for its long-term fund5 is to maintain a balanced portfolio ol
investments to deliver long-term capital growth and growing income to fund ongoing operational and fabric
upkeep expenditure, ond lo provide income copocily lo further the Colhedrol, s mission ond growth. This meons
holding investrnents that grow capitol volues obove reol terms over the long-term and produce sustainoble growth
in net investment income year on year.
Key Rlsks ond Uncertolntles
The Cothedrol is currently in process of corrying out o full Risk Review. The principol risks currently identified include..
pditlcal and Economlc
The conlinving impoct ol inllolion ond ossocioled cost ol living crisis
Globol instability, porhcularly regarding events in Ukraine ond the Middle East
Financial
Impact ol loss of funding from current providers
Failure to secure funding from new sources
Workforce
Recruilmenl.. inability to lill vacancie5 in key ioles
Retention.. high turnover and attn"h"on
Governance
Risk in not moinloining oppropriole skill-mix ond commitment ol Trustees
Compliance
Compliance with dato protection. cyber security and other regulah.ons
Data Security
Impact ol system loilures including potential cyber allack
The Cathedral Church of All Saints in Wakefield

ANNUAL REPORT OF THE CHAPTER
for the year ended 31 December 2023
FUTURE PLANS
Sustainability will be a key theme ol the cathedral's life lor the next few years. and the Trustees will be considering
three oreos in porliculor..
Net Zero
In 2022 the General Synod of the Church of England approved a Nel Zero Carbon Routemap whose oim is lo
enoble Ihe Church of Englond to ochieve net zero corbon by 2030. All cothedrols will be shoring Ihis nel zero
journey and the active Eco Group at Wakefield Cathedral will be integral to our own plans. This group helped us
to achieve the A Rocha UK Eco Church Bronze Award in 2023 and during 2024 the cathedral will be working
towards the Silver Award. Wakefield Cathedral has already received an Energy Assessment and Carbon Emissions
Review Report from QODA which hos been discvssed by the Fobric Advisory Committee. and o follow vp review
will be underloken before the end of 2025. The size ol our building makes the nel zero jovrney chollenging. but the
steps we have taken so lar give confidence lor the future.
stage 3 Bulldlng Pl0￿cl
The ronge ol events ond oclivilies we continue to oller is possible only becouse ol the relurbishnient and
reimagining of the cathedral spoce that took place under my piedece5sor, Deon Jonathan Greener. Bul there is
yet more work to be done il we ore to build on this goodly inheritonce. Our music department Is one ol our most
important a55ets. not only because of its integral role in our worship but also because of the wider music education
opportunities il offers lo children and young people from across our city.. we n￿d to make good on our plons to
provide our musicians with facilities that are lully fit lor purpose both musically and in terms ol soleguarding.. our
stolf bosed in the cothedrol centre ore incredibly loyol ond hordworking, ond we owe il to them to commit lo o
reconfiguring ol the cramped and not terribly accessible Georgian terrace they work in so we can provide a more
pleasanl working environment.. and we need to undertake some less glamorous lasks such as making dedicated
provision lor storage and upgrading our toilet facilities. now showing their age. We also need to consider whether
or not the locilities ollered by the Treacy Hall, built in the early 1980$. are any longer lit for purpose and, il not. what
kind of bLJilding should replace it.
Flnonces
The Finonciol Review and the 2023 Slotulory Accounts give on indicolion ol the linonciol chollenges we continue lo
foce. One of the key losks lor the Trustees over the next few yeors will be to build on the encouroging increose in
the diversity of our income streoms that we ore beginning to see, and $0 build up our financial reserves. This
journey. like the net zero journey. will be challenging.. bul il is a journey with which an increasing number ol
charities are becoming familiar.
The Very Revd Simon Cowling. Dean of Wakelield
Chair of Trustees
3 July 2024
The Cathedral ChLirch of All Saints in Wokefield

**INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHAPTER OF THE CATHEDRAL CHURCH OF ALL SAINTS IN WAKEFIELD** 

## **Opinion** 

We have audited the financial statements of The Cathedral Church of All Saints in Wakefield for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the cash flow and notes to the financial statements, including significant accounting policies. 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 Practice). 

In our opinion the financial statements 

- give a true and fair view of the state of the Cathedral's affairs as at 31 December 2023 and of its incoming resources and application of resources for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- have been prepared in accordance with the requirements of Section 30 of the Cathedrals Measure 2021 and the Charities Act 2011. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Cathedral in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, 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 basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the 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 cast significant doubt on the charity'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 the Chapter with respect to going concern are described in the relevant sections of this report. 

of _The Cathedral Church All Saints in Wakefield_ 

11 



INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE
CHAPTER OF THE CATHEDRAL CHURCH OF ALL SAINTS IN WAKEFIELD
other Infomiatlon
The Chapter is responsible for the other information. The other information comprises ffie information included in
the annual report, other than the linonciol slotemenls ond our ouditor's report Ihereon. Our opinion on the
financial stolements does not cover the other information and. except lo the extent otherwise explicitly stoted in
our report. we do not express any form ol assurance conclusion Ihereon.
Our responsibility is lo reod the other inlormolion and, in doing $0, consider whether the other inlormolion is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or
otherwise appears to be materially misstated. 11 we identify such material incon51slencies or apparent material
misstotemenls. we are required to determine whether this gives rise to a material misstatement in the linoncial
slotemenls themselves. 11, bosed on the work we hove performed, we conclude Ihol there is a molerial
misstatement of this other information.. we are required to report that fact.
We have nothing lo report in this regard.
MatteTS on which we are Tequired to report by exception
We hove nothing to report in respect ol the following matters in respect of which the Chorilies (Accovnls and
Reports) Regulations 21K)8 require us to report lo you if, in our opinion..
the information given in the Annual Report is inconsistent in any material respect with the financial
statements.. or
Ihe Cothedrol hos not kept proper and sufficient occounting records.. or
the linonciol stotements are not in agr￿ment with the accovnting records and returns.. or
we hove nol received all the information and explanations we require lor our audil.
Responslbilities of the Chapter
As explained more lully in Ihe Chopter's Responsibilities Statement set out on page 2. the Chapter ore responsible
for the preporolion of the finonciol slolements ond for being solislied thol they give a true ond loir view, ond lor
such internal control as the Chapter determine 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 slatemenls, the Chopler is r￿ponsIble lor ossessing the Cathedral's obility to continue as
a going concern. disclosing. as applicable. matters related to going concern and using the going concern basis
ol accounting unless the trustees either intend to liquidate the Cathedral or to cease operations. or have no
realistic alternolive but to do $0.
The Cathedral ChLirch of All Saints in Wokefield

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE
CHAPTER OF THE CATHEDRAL CHURCH OF ALL SAINTS IN WAKEFIELD
Audilors, responsibilities for the oudil of the linanciol stolements
We have been appointed as auditors under Section 30 of the Cathedrals Measure 21y21.
Our objectives are to obtain reasonable ossuronce about whether the financial slolements as a whole ore free
from material misstatement. whether due to fraud or error. and to issue an auditors, report that includes our
opinion. Reosonoble Ossuronce 15 0 high level ol assurance, but is not o guoranlee thot on oudit conducted in
accordance with ISAS IUKI will always delecl a material misslolement when it exists. Misslatemenls can arise from
fraud or error and are considered materiol il. individually or in the aggregate. they could reosonobly be expected
to inllvence the economic deci5i0n5 01 users token on the bosis ol these financial stotements.
Irregularities, including fraud, are instances ol non-compliance with laws and regulations. We design procedures in
line with our responsibilities. outlined obove. to detect material misstotemenls in respect of irregulorities. including
fraud. The specific procedures lor this engogement and the extent to which these ore capoble of deleding
irregulorilies, including Iroud are deloiled below.
Identifying and assessing risks reloled lo irregulorities..
We ossessed the susceptibility of the Cothedrol's linanciol stotements to material misstatement ond how froud
might occur, including through discussions with the Chapter, discussions within our audit team plonning meeting,
updating our record of internol controls and ensuring these controls operated as intended. We evaluoled possible
incentives and opportunities lor fraudulent manipulation of the financial statements. We identified laws and
regulations thol ore of signiliconce in the context of the Cothedrol by discussions with the Chapter and updoling
our understanding of the sector in which the Cathedral operates.
Laws and regulations of direct significance in the context of the Cathedral include the Cathedrals Measure 2021,
the Charities (Accounts and Reportsl Regulolions 2(M)8, the Charities Act 2011 ond guidonce issued by the Charity
Commission for Englond and Wales.
The Cathedral Church of All Saints in Wakefield

**INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CHAPTER OF THE CATHEDRAL CHURCH OF ALL SAINTS IN WAKEFIELD** 

## _Audit response to risks identified:_ 

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the Cathedral's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the Cathedral's policies and procedures for compliance with laws and regulations with members of management responsible for compliance. 

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. 

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

A further description of our responsibilities is available on the Financial Reporting Council's website at: www fc og 11k/r iditosrspoosibilities- This description forms part of our auditor's report. 

## Use of our report 

This report is made solely to the Cathedral Chapter, as a body, in accordance with the Cathedrals Measure 2021. Our audit work has been undertaken so that we might state to the Chapter those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Cathedral and the Chapter as a body, for our audit work, for this report, or for the opinions we have formed. 


Saffery LLP Statutory Auditors Mitre House North Park Road Harrogate North Yorkshire HGl 5RX 


Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 

of _The Cathedral Church All Saints in Wakefield_ 

**14** 



|_Unrestricted_|_Designated_|_Restricted_|_Endowment_|_Total funds_|_Total funds_|
|---|---|---|---|---|---|
|_funds_|_funds_|_funds_|_funds_|_2023_|_2022_|








|_Unrestricted_|_Designated_|_Restricted_|_Endowment_|_Total funds_|_Total funds_|
|---|---|---|---|---|---|
|_funds_|_funds_|_funds_|_funds_|_2023_|_2022_|







STATEMENT OF CASH FLOWS
for the year ended 31 December 2023
2ts23
2022
Note
Nel cash Inflow / louffiowl from operallng acllvltSes
147,055
181,0991
Cash flows from Invesllng actlvilles
Dividends. interest and rent from investments
Pvrchose of tangible fD(ed assets
Proceeds from sole ol li%ed asset investments
Pvrchose of fixed osset investments
46.044
121.2181
24.971
16,6991
37.000
13,0631
145.8421
Net cash Ivsed) / provided by investing aclivities
121.0161
52,209
Cash flows from financing oetivities
Cash inflow5 Iiom new boirowing5
Repoymenl ol borrowings
Loan inteie5t paid
20.000
14.7791
15531
Net cash provided by ffnancing activities
14.668
Nel Increase / (decrease) In cash and cash equlvalenls
Net cash and cash equivalents at l January 2023
140.707
533.191
128,8901
562,081
Net cash and cash equivalents at 31 December 2023
673.898
533,191
Movement In nel cash
Al I
Jcjnuary
2023 Cash flows
other
A131
non-ccjsh December
chorges
2023
Cosh in hond
Notice deposits Ile5S than 3 monthsl
55.596
477,595
16.5951
147,302
49.001
624,897
Total cash ond cosh equlvolenls
533.191
140.707
673.898
The occompanying occounling policies and notes form parl ol these financial slalements.
The Cathedral Church of All Saints in Wakefield

PRINCIPAL ACCOUNTING POLICIES
for the year ended 31 December 2023
General Informatlon
The Cathedral Church of All Soints in Wokelield, Northgote, Wokefield. WFI IHG.. also known os Wokelield
Cathedral.
Chorify number: 1203267
Principal office- Calhedrol Centre, 8-1 O Weslmorfond Street, Wokefidd, WFI I PJ.
Accounting conventlon
The financial statements have been prepared on a going concern basis in accordance with Accounting and
Reporhng by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Slondaid applicable in the UK and Republic ol Irelond IFRS 1021
lelleclive l January 20191 Ichorilies SORPIFRS 10211, the Financial Reporting Standord opplicoble in the UK and
Ireland IFRS 1021 and the Charities Act 2011.
The Cathedral Church ol All Saints. Wakefield, meets the definition ol a public benefit entity under FRS 102.
The financial statements are prepared on the historical cost convenlion basis excepl for the modilicalion to a lair
value basis for certain financial instruments as specified in the accounting policies below.
The financial statements are presented in Bri115h Pound5 Sterling. rounded to the nearest £1.
Golng concem
The Chopter have prepared these financial slalements on o going concern basis. The Chopler has reviewed those
risks which ore most significonl lo the Cothedrol in terms ol linonciol ond operotionol risk. The Chopler Consid￿ the
going concem bosis of accounting is oppropriote because there ore no moteriol uncertointies related to events or
conditions that may cast doubt about the ability ol the Cathedral to continue as a going concern.
Pri￿ yeor comparatives ond restoled notes
Comparative onalysis ol cerloin income and expenditure hos been reslaled in accordance with the Charity SORP.
Income ond endowments
Income and endowments including legacies. are included in the Stotemenl ol Financiol Activities1SOFAI when he
Cattiedral is legally entitled to them as income or capital respectively. ultimate receipt is probable and the amount
to be recognised can be quantified with reasonable accuracy.
Revenue grants ore credited os income ond endowments when they ore receivable provided conditions for
receipt have been complied with. unless they relate to a specified future period. in which case they are deferred.
Grants lor the purchose ol fixed assets are crediled to restricted income when receivable.
Inveslmenl Income
Investment income is recognised when receivable.
Endowment income
Endowment income 15 credited to the income and expenditure account on a receivable basis. Income from
restricted endowments not expended in accordance with the restrictions ol the endowment is transferred from the
income and expenditure occount to restricled endowments. Any reolised gains and losses ore retoined within
endowments in the balance sheet.
Thlrd party ond non-ca$h recelpts and poyments ond donoted assets, g¢)ods and $ervlces
Where omounts ore payoble on behalf ol the Cothedral by third porlies, lor example the Chvrch Commissioners,
these are disclosed under both income and expenditure in the Statement ol Financial Ach"vih"es.
Where assets ond services ore donated to the Cathedral. the value is included within the appropriole clossilicalion
ol income and expenditure.
The Cathedral ChLirch of All Saints in Wokefield

PRINCIPAL ACCOUNTING POLICIES
for the year ended 31 December 2023
Expendlture
Expenditure is recognised on the accruols basis ond is reported gross of relaled income on Ihe following bas1S'.
Roising fund5 comprises the costs ossocioted with attracting donolions and legacies ond the cosls of olher
income generolion.
Expenditure on charitable octivities comprises all expenditure incurred in promoling the mission of Ihe
Cathedrol.
Governance costs comprise cosls incurred as a result of constitutional ond stalutory requiremenls.
Where costs cannot be direcmy attributed to specific headings. they have been allocated as follows..
Expenditure on roising funds
251.
Expenditure on charitable activities
757
Lea5e5
Operating lease renta15 are charged on a straight line basis over the term of the lease.
Transaclions with the diocese
Cash transactions with the diocese are shown under income and endowment5 and expenditure on mission.
Repairs, restoration and maintenance of the Cathedral
Expenditure on repairs, restoration and maintenance ol the Cothedrol is chorged 05 incu￿ed. Any amounts set
aside lor future expenditure are shown as transfers to the Fabric Fund (note 121.
Taxation
The Cathedral 15 a registered charity and as such is a charity within the meaning of schedule of the Finance Act
2010. Accordingly. the Cothedrol is potentially entitled to tox exemption under port I l of the Corporotion Tox Act
2010. Subsequenmy. no tax charge arises in the Cattiedral.
The Colhedral is not registered for VAT. Irrecoverable VAT is included in the cost of the expenditure lo which it
reloles.
Funds
A fund is a pool of expendoble resources, held and maintained separately from other pools because ol the
circumslonces in which the resources were originolly received and the way in which they have subsequently been
treated.
Restricted funds:
These have specific conditions atloched by the donors lo the expenditure of capital or
income
Endowment funds.. These are restricted funds where the capital must be held permonently
Unreslricled funds.. The Chapter hos the discrelion Io spend both copilal ond income
Deslgnated Funds: These are unreslricted funds set aside by the Chapter lor specific purposes
Calhedral buildings and the invent
No value is otlribuloble in the bolance sheet to either the Cathedral building or lo items included in the inventory
prepared under S1311) of Ihe Care of the Cathedrals Meosure 1990 as being ol architecturol. orchaeologicol,
orlistic or historic interest. The cost of items added to the inventory during the year is written oll as unusual or non-
regularly recurring items.
The Cathedral Church of All Saints in Wakefield

PRINCIPAL ACCOUNTING POLICIES
for the year ended 31 December 2023
Property ond depreclatlon
Properties are included in the balonce sheet at their open market value. Properties ore revolved every five yeors.
No depreciation 15 provided on building5 lor Calhedral use (buildings for occupation by the Cathedral clergy or
other members of Cathedral slalfl. The remaining useful life ol the buildings lor Cothedrol use is considered to be
greoler thon 50 yeors ond the residuol volue is eslimoled lo be so greot, such that ony chorge lo depreciolion
would be immaterial. Furthermore. the Chapter considers the canying value of the buildings to be no greater than
the recoverable amount at the balance sheet dale. The Chapter ttierelore considers thal the buildings are not
impaired and no reduction in the exisling carrying value is required.
Investments
The investment porffolio is held lo generate returns and gain5 for the charity and accordingly is designated as lair
value through profit and loss I'FVTPL l.The porffolio is re-valued at each period end to its lair value. os delermined
by reference lo quoted morket prices and values determined by independent fund managers, with any gains or
losses going through the Statement of Financial Activities.
other lixed assets
With effect from 2021, oddilions to tongible fixed ossels over £l,l)ffj hove been copitolised.
Assets ore included ol cost ond are depreciated over their eslimoted useful economic lives in annual instalments
vnless stoted olhwi5e.
Depreciation
Depreciation is provided to write off the non-investment fixed assets which have been capilalised over their
estimoled usefvl lives ol the following rotes..
Cothedrol furnishings ond fillings
Cathedral electrical equipment
Housing fixtures and fittings
20 years occeleroted (sum of digilsl
7 years accelerated15um of digits)
7 - 20 years acceleroled (sum ol digits)
No depreciation is provided on land ond buildings.
Flnanclal Instruments
The provisions ol Section I I 'Basic Financial In5trumen15' and Section 12 '0ther Financial Instruments Issues, ol FRS 102
are applied lo all financial instruments.
Debtors and other assets
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments ore valued ot the amount prepaid.
Finoncial os5ets. ottier thon Ih05e held al lair value Ihrough profit and loss. are assessed for indicators of
impoirment at each reporting end date.
Financial assets are impaired where there is objective evidence Ihal, 0$ o result ol one or more events that
occurred ofler the initiol recognition ol the finoncial osset, the estimated future cosh flows have been alfecled. The
impairment loss is recognised in the income and expenditure account.
Cash at bank ond in hand
Cosh at bank ond cosh in hond includes cosh and short-lerm highly liquid investments with a short malurify held lor
working copitol.
Credllors, provlslons and deferred Income
Creditors ond provisions ore recognised where the chority hos o present obligotion resulting from o post event thol
will probably result in the transfer ol funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Where a donor imposes a condition that a grant may not be expended unlil a
lulure period, the receipt is treated as deferred income and recognised as a liabilify.
20
The Cathedral ChLirch of All Saints in Wokefield

PRINCIPAL ACCOUNTING POLICIES
for the year ended 31 December 2023
Pen$lons
The Chapter contribvtes lo o pension scheme for the clergy stoff administered by the Church of Englond Pension
Scheme. This scheme operates as an occupational pension scheme and contributions. at a rate determined
having regard to aduarial advice. are paid Into a separate fund In the trusteeship of the Church of England
Pensions Board. Benefils arising from pensionable service ore provided from that fund. The contribulions to the fund
by Ihe Cathedral ore charged lo the Statement ol Finonciol Activities as Incurred. os the scheme Is a multi-
employer scheme and It Is not possible lo Identify the assets and liabilities reloling to the Cathedral. These
contributions ore funded by o gronl from The Church of England Church Commissioners.
The mojorify ol the lay members ol staff contribute to a defined contribution pension scheme. Pension costs are
charged in the Slotemenl ol Finonciol Activities ond represent the contributions poyoble by the Colhedrol in the
year.
The costs of short-lerm employee benefits ore recognised as o liability and an expense where settlement of
obligations does not fall within the some period.
Revaluation reserve
When properties are revalued. the change in the carrying value of the property is credited lo the revaluation
reserve. Revaluation losses are recognised as an expense in the Statement of Financial Activities except to the
extent to which they offset any previous revalualion gains. in which case the loss is shown in the gains/llossesl on
the Slolemenl of Financial Aclivilies. In occordonce with FRS 102, 0 separole revoluolion reserve has been shown
within the fund analysis on the bolonce sheet by o reclossificolion trom gen￿01 reserve.
Crilical accounting estimates and judgements
In the application of the Cathedral's accounting policies. the Trustees are required to make judgements. estimates
and assumptions about the cotrying amount ol assets and liabilities that are not readily apparent Iiom other
sources. The estimates and ossocioled assumplions are based on hisloricol experience and olher factors
considered lo be relevant.
The estimates and underlying assumption5 are reviewed on an ongoing basis. Revisions lo accounling eslimales
are recognised in Ihe period in which the estimate is revised. if the revision affects only thot period. or in Ihe period
ol the revision ond future periods il the revision offecls both current ond future periods.
The estimotes and assumptions that have a significant risk ol causing o molerial odjustment to the carrying amount
ol assets ond liabilities ore oumined below:
Legacies
Legocies are recognised os income when probate has been gronted, the Cathedral has established ils
entl￿ement lo the funds ond sullicient inlormolion is ovailoble to ollow the meosure ol enlitlemenl, and il is
proboble that funds are receivoble.
Property depreeialion
As olready slated above, no depreciation is provided on buildings lor Colhedral use (buildings lor occupation
by the Cathedral clergy or other members ol Cathedral stalfl. The remaining useful life of the buildings lor
Cathedral use is considered to be greater than 50 years and the residual value is estimated to be so great. such
that any charge to depreciation would be immaterial.
The Cathedral Church of All Saints in Wakefield
21


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|_Unrestricted_|_Designated_|_Restricted_|_Endowment_|_Total funds_|_Total funds_|
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|_31_|_December_|_Released_||_31 December_|
|---|---|---|---|---|
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|_Balance at_||||_Gains /_|_Balance at_|
|---|---|---|---|---|---|
|_1 January_|_Income and_|||_(losses) on_|_31 December_|
|_2023_|_endowments_|_Expenditure_|_Transfers_|_Revaluation_|_2023_|







|_Balance at_||||_Gains /_|_Balance at_|
|---|---|---|---|---|---|
|_1 January_|_Income and_|||_(losses) on_|_31 December_|
|_2022_|_endowments_|_Expenditure_|_Transfers_|_Revaluation_|_2022_|






NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023
13
Fvnds (contlnued)
MrsTreacy's Legacy
Both the income and the copitol within thi5 fund ore available lor the upkeep and development of Tieocy Holl.
Wakefield Rent Deposit Scheme
The Scheme has been inactive since it was subsumed inlo a new Project not adMin￿tered Ihrough the Cothedrol in 2018..
the bolonce ol lund5 remoining avoilobk to Choptei. The bolonce hos been tronsferied to the General Ivnd in order to
support the Cothedrol's doy-to4oy mission lo the people ol WokelEId.
Homeless Hospital Discharge
Thi5 fund has olso been inactive since it WQS 5vbsumed into o new Project not adMin￿tered through the Cathedral in 2018..
the balance ol funds remaining ovailoble to Chapter. As with the Rent Deposit Scheme. the balance hos been
tronslerred to the General fund.
Veslmenls Appeal. Flower Fund ond Seryer$ Fvnd
Since the cost ol providino vestments. Ibwers ond server robes s met from the Cathedrals general budget. these smoll
funds have been transferred lo the General fund.
Cholr School Development Project
While the Cathedial remains committed to providing much impioved facilities for tk5 choir. the specilt Project begun prior
lo the COVID-19 pandemic has not beer) proceeded with. The small b0￿rnce on the lund has consequently been
transferred to the Geneiol fund.
Communlly Oulreach and Educotlon
This is a fund lo provide resourcing lor education and outreach. workshops ond events lor groups ol all oges from schools
and youth through to adults. During the year addih.onol funds have been received from..
Notionol Lottery Heritaoe Fund
The Benelacl Trust.. Community Impact Fund
The Kiiby Loing Fomily Foundah"on
D￿ceSe ol Leeds Family & Sociol Wellore Committee
Ctsnon John Hudson Legtsty for Music
This fund E a bequest received from the estate of Conon John Hudson to support the Cothedrol's PrOv￿10n of music.
Splre Appeal
This fund was estoblished to raise funds to repoint the Cathedral spire in eorfy 2022. Alongside a public appeal. o
substontiol gront ws receivab￿ from H￿toriC England. The work was Comp￿ted in 2022 and the balonce ol overfunding
transferred to General fund.
Cathedral Music Trust
Income from this fund is used to defray the expenses ol the Chor￿le[S ond choir lacililies.
Wakefleld Cathedral Muslc Trust
See under Endowment Funds obove.. This is the non-endtswment pOrt￿rn tronslerred in 2023.
other Music Trusts
This fund CoMpr￿eS grants ol under £5,000 thot have been prOV￿ed to fund 5pecrfic aCtr￿ltieS of the Music Deportment.
It includes income of £1 0,600 12022.. £4,3281 and expenditure ol £10,600 12022.. £4,3281 reloting lo the Brook Street
Endowment.
Garfield Weston Foundation
This is a grant received lo fund the posl ol Assistant Director ol Music.
Chonlry Chapel
The Cothedrol has responsibility lor the upkeep ol the Chontry Chopel. Both the income and the copitol within this fund
are availoble lor the upkeep and repair ol the Chantry Chapel.
The Cathedral Church of All Saints in Wakefield
33


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Balance at Gains / Balance at<br>1 January Income and (losses) on 31 December<br>2023 endowments Expenditure Transfers Revaluation 2023<br>Balance at Gains / Balance at<br>1 January Income and (losses) on 31 December<br>2022 endowments Expenditure Transfers Revaluation 2022<br>**----- End of picture text -----**<br>





NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023
14
Reconclllatlon of net Income I lexpendlture) to net cash flow from operatlng adlvltles
2023
2022
Nel income / lexpendilurel lor the reporting per￿d las per the SOFA)
Adju5tment5 for..
Depreciotion
Investment income
Loon interest poid
Decreose in debtor5
Increase in creditors
164,413
191.5661
6.279
3.963
146.0441 124.9711
553
6,657
15.197
30.816
659
Nel cash Infiow l (ouffiowl from operollng acllvllles
147,055
181.099)
15 Analysis of cash and cash equivalents
2023
2022
Cash in hand
Notice deposits I￿sS than 3 months)
49.001
624.897
55.596
477.595
Total cash ond ¢osh equivolenls
673.898
533.191
16 Transactlons ￿th the dlocese
2023
2022
Finonciol services
Loan interest Isee note I I I
10,781
553
21.295
11,334
21.295
The Cothedrol ond the diocese provided support to one onolhei. During 2022 and 2023 fvio clergy, whose stipends were
pa￿ by the diocese. spent some ol their lime carrying out duties al the Cathedral. The Cathedral also assisted the
diocese in o number ol Wa￿ through the work carried out by the Dean and the conor&', no value has been ploced on
the value ol th￿ support.
During 2023 the Dioceson Boord ol Finonce prOV￿ed the Colhedrol vAlh a loon of £20.000 to linonce energy-soving
measures ot the Deanery. Details of the terms and balance outstanding are disclosed in note I l.
17
Employees ond clergy Inlcffmotlon
2023
No.
2022
No.
The overoge number ol employees and ollice holders during the yeor was os follows..
Cleigy.. lull time
Lay.. lull time
Lay.. pait time
The 212022.. 61 porl-lime posts ore equivalent to I 12022.. 31 lulklime posts.
The Cathedral Church of All Saints in Wakefield
35

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023
17
Employees ond clergy Informotlon (contlnued)
2(J23
2022
The stoll costs for the yeor relating to the obove are..
5alaiies and Stipends
Employer's Nl
Employment Allowonce
Pensions
386,457
36.515
15,0001
43.927
406.988
37.157
15.0001
51.878
461,899
491.023
None of the employee5 01 cleigy had emoluments over £60.000 loi the year.
The key management ol the Calhedrol ￿ considered lo be the Chapter. Not all members are paid.. the remunerolion ol
those who are 15 disclosed in note 18.
18 Chapter members. remuneration and relmbursement of expenses
The following member5 01 the Chopter recewed remunerotion in ie5pect ol their servtes during the yeor..
AppEntice-
Totol
ship levy
2023
lolal
2022
stipend
NC
Pen￿n
The Very Reverend Simon Cowling
The Reverend Canon Dr Joy50n Rhodes
The Reverend Canon Dr Philip Hobday
The Reverend Canon Peter Farley-moore
39.477
17.427
30.135
174
80
150
3,540
1,473
2,903
8,909
4,157
7.127
52,100
23,137
40.315
53,056
38,691
13.705
11.416
87.039
404
7.916
20,193
115,552
116.868
Their remunerotion is in occordonce with the scoles loid down onnuolly by the Church Commissioners. the Archbishops,
Council ond the Church ol Englond Pensions Boord. No supplement lo the scales is poid by the Colhedrol bywoy ol either
odditionol stipend or expense ollowonce.
The oggregole omounl ol expenses reimbursed lo live current Members ol Chopler wos £8.60512022'. £2.9731.
One member ol chapter received Lay Clerk lees lotoling £27412022.. £7131. This was in reblion lo his membership ol the
chor.
36
The Cathedral ChLirch of All Saints in Wokefield

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023
19 Penslon costs
Wokelield Cathedral participates in the Pension Builder Scheme section ol the Church Workers Pension Fund ICWPFI for
lay stall. CWPF is administered by the Church ol England Pensions Board. which holds the CWPF asse15 separately from
those of the Empbyer and the other porticipoting employers.
CWPF hos two sectiow..
i. the Defined Benefit5 Scheme
2. the Pension Builder Scheme. which hos two Subsett￿n9.'
a. a deferred annuity section known as Pension Builder Classic. ond.
b. a cash balance section known as Pension Bul￿er 2014.
Pension Builder Scheme
Both sections ol the Pe￿IOn Builder Scheme ore classed as defined benefit schemes.
Pen5ron Builder Classic provdes a pension. accumulated from Contribut￿nI paid and converted into a deferred annuity
during employment bosed on terms sel and reviewed by the Church ol England Pe￿IonS Board from time lo lime.
D￿cretionarY increose5 may otso be added. depending on inve51menl returns and other foctors.
Pensron Buildei 2014 is a cash bO￿nCe scheme that provides a lump sum which members use lo wovide benefits ol
retrement. Pension Contributio￿ ore recorded in on account for eoch member. Discretionory bonuses moy be odded
before retirement. depending on investment return5 ond other factors. The occount, plu5 ony bonuse5 decbred is
poyoble. unreduced. from age 65.
There is no sub-division o10$5et5 between employers in each section ol the Pension Builder Scheme.
The scheme is considered to be o multi-employei 5¢heme os described in Section 28 01 FRS 102. Tris Is be¢ou5e tk is not
possible to ottribute the Pension Bul￿er Scheme's ossets ond liobililies to specific employers and meons Ihot contributions
are occounted lor os il the Scheme were a defined contribution scheme. The pe￿IonS costs charged lo the SOFA in the
year are contributions poyoble 01 £43,92712022.' £51,878).
A valuation ol the scheme ￿ carried out once every three years. The most recent scheme volualion completed was
corried out as at 31 December 2019.
For the PernS￿￿ Builder Classic section. the 2019 valuation revealed a delicil 01 £4.8m on the ongoing ossumptions used.
At the most recent onnuol review effective l January 2024, the Boord chose fo gront a discretionory bonus of 6.7% 10
both pensions not yet in payment ond pensions in poyment in respect of serV￿e prior to April 1997., and a bonus on
pensions in payment in respect ol post April 2006 service so that the pension increose wos 5% (where usually il would be
cokulaled based on inflation up lo 2.5T.l. Th￿ followed improvements in the funding position over 2023. There is no
requirement lor delicil payment5 01 the current time.
For the PernS￿￿ Bulder 2014 section. the 2019 valuation revealed a surplus of £5.5m on the ongoing assumplions used.
There is no requrement lor deficit payments ot the current time.
The next voluotion ￿ due os al 31 December 2022. Colculotions lor this are currentw under woy.
The legal structure ol the Pension Builder 2014 scheme ￿ such that il another employer lals. wokelie￿ Colhedrol could
become responsible lor paying a share ol the foiled employer's pension liabilities.
The Cothedral has agreed lo provide o fixed Inon index-linkedl pension 01 £2.964 per annum to a retired employee. with
o ho￿ pension lo a surviving spouse. The net present volue of the new pension arrangement ot 31 December 201 I wos
approximotely£45.000. This liobilitywos included in creditors ond charged ogoinit the Section 23 fund. which will fund the
pension. The liability as 0131 December 2023 is £3.99712022'. £6.9611.
The net present value hai been colculoted based upon the following oisumptions..
Averoge mole life expe¢ton¢y lot oge 651
82 yeors
Average female lrfe expectoncy
82 yeors
30 yeor Ireosury bond yield (discount ratel
4.30%
Due lo the simplicity ol the orrangemenl ond the ovailobilily ol relevant dota, no octuar￿1 input has been obtained. The
assumptions will be revisited annually lo ensure they remain oppropriale.
Al the year end the amount due and Urnpo￿ lo the schemes by the Colhedrol was £2.52712022'. £1.9781.
The Cathedral Church of All Saints in Wakefield
37

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023
20
Reloted poty tran$odlon$
Connected charities, over which the Chapter has no control, bul from which the Colhedrol from time lo lime derives o
financial benefit. and whose results hove not been included in the linonciol stotements are".
Friends ol Wakefield Colhedral
Friends ol Chontry Chopel
Leeds Diocesan Family and Social Wellore Council
The Deon is currently Chair ol the Leeds Diocesan Family and Social Welfare Council. is ex officio PreS￿ent ol the
Commtkkee of Friends of Wokefield Cothedrol.
The Dean lex olliciol and Ali50n Dean were trustees ol Wakefield Cothedrol Music Tiust prior to its winding-up ond the
Ironsler ol ils assets lo the Cathedral. os discloged in Nole13.
other charities whose Irustee body is chaired by the Dean. where no benefit derives to the Cathedral. and which hove
not been included in the Co￿911d￿1ed resvlts..
Lady Bolles Charity
Shaw Poor Cleigy
Jone Lectureship Iwound up during the yeor and its remaining ossets Ironslerred lo the Colhedroll
Canon Jane Evans is a Iruslee ol Leeds Dioceson Board ol Finonce. Tronsoclions with that thdy are disclosed ir) Note 16.
The Chopter enters into Ironsactions on a regulor bas￿ with other outonomous orgonisalions within the Church of Englond.
lor example the Cential Board ol Finance and the Church Commissioners. From time to time the Chapter mEmber5 may
serve on committees ol other bodies.11 is not considered oppropriale to report the detail ol such Ironsaclions since no
peison, or group ol peop￿, 50 serving hove any5￿n￿1CanI influence over ony material tronsactions.
There ore no unusuol tron5QCtions with such bodies in these linonciol stotements.
Voluntory donotions ol on uniestricted noture totalino £10,10212022.. £7.3361 were mode by members ol Chopter ond its
committees in the year. In addit￿n. Conon Andrew Revans donated occounling ond finance services lo the value ol
£20.47512022.. £12.0001. Thts 15 included in the totol loi both Donation5 and Support Costs in the Statement of Financ￿1
Aclivilies.
For delaiÈ ol remuneration and expenses paid lo members ol chapter see note 18.
21
Capltal commltments
2(J23
2022
Al the year end Ihe Cathedral hod authorised. but not provided for the following..
Acquisition ol tangible fixed as5et5
21.218
The 2022 commitmenl was lorgew financed through borrowings of £20.000 from the Diocesan Board of Finance Isee
note 111.
22 Leaslng comm6tments
At the yeor end the Cathedrol had outstanding commtkments for lutuie minimum lease
payments undei non-concelloble operating leases lor equipment os follows..
2023
2022
Expiring within one year
Expiring within two to Iwe years
1,293
907
546
3,083
2,200
3.629
38
The Cathedral ChLirch of All Saints in Wokefield

|_Unrestricted_|_Designated_|_Restricted_|_Endowment_|_Total funds_|_Total funds_|
|---|---|---|---|---|---|
|_funds_|_funds_|_funds_|_funds_|_2022_|_2021_|






'fi
40
The Cathedral ChLirch of All Saints in Wokefield

Wakefield Cathedral Northgate Wakefield WF1 1HG 

T: 01924373923 

E: admin@wakefield-cathedral.org.uk W: www.wakefieldcathedral.org.uk