cOvE￿Ry
CATHEDRAL
The Cathedral Church of St. Mlchael, Coventry
£hatityRewtr•tstyi Numbtl 1204257 I￿81a￿d & wa￿51
Annual Report and Audited Financial Statements
For the year ended 31" December 2024
Contents
Page
Report ol the Trusiees
Dean's introduction
Statement Df Trust¢es' responsibilities
12
Independent Auditorfs Report
14
Flnancial Statements
17
Statement of Financial ActiVit￿S
17
Balance Sheet
18
Cash Flow Statement
19
Notes to the Financial Statements
20
The Cathedralchurih of St. Mi¢had, Coventry

Rewrt o< the Tr￿Stee5 lof the year 31M Decembei 2024
CATHEtK
DEAN'S INTRODUCTION
Coventry Cathedral exists to reconcile people to God ond eoch other
l am delighted to commend to you our annual report for 2024 In CovÈntrv Cathedral. As always, it
represents incredibty hard work from the ieam here. delivering over and ai*)ve what miEht be expected
from our re50urce5. The Calhedral 15 a melting pot ol so many differenl aCt￿ltIeS and Rroups. neThvorkin8
across the ciry, the Diocese, Iniernatw)nally. with each area ol ouf life curated by its own srnall tearn,
drawn together in our shared commitmenr to all that we represent. In this report you'll see thÈ Impact of
Tiew stall n)embers- and in parlicular the first full year loi our Chief Operating OfficÉ*r. Slrncin Danks. to
whom l am especially 8ratefvl. We have been joined From South Alr￿ by Canon Nitano Muller as Canon
lor Worshlp and Welcome, and are algo very much valuing ihe work of ian Wardle as our Finance Manager,
who is now workin8 Wlth Simon io oversee our financial accounts.
This year's report has been structured around ¢ur strategic priorities. and has returned to its pre-covid
shapé, with Èach priority having its own distinci headin8 in this opening section. In what follows. you will
see described a rich programme of welcome. worship ènd reconciliation. exprpssg_d in all that we do. As
Cathedral, worshlp and prayer is the heartbeat of our life. hohjing the Diocese throu8h our prayer5 and
large Diocesan events. We have been able to welcome many other gatherings ol Christians, and it wa5 a
particular pleasure to see the Cathedral full with the Cily Prayer and Praise event In the Autumn. Those of
other faith tradition5 are equalty welcorne. 3nd to stand alongs￿e other> In >poken oi silent prayer lor
those suffering war or natural dbsaster is always a privilege.
Our arts and eve.nts programmo, ak)nÉside our regular open hours a5 an intredible buildin8 for residen15 gf
visitors to the cliy to enloy, is also very imwnant to us. I never tire of meelng newcomers. and finding ¢uI
where they have corne from. and what has broughi them here. For local visitors, the pro8ranime ol events
ollcn brings them inside rhe building for the first time. to discover how welcome they are- and to know
that they can roadily return. 01 course. many also come for major life evenis, and the Caihedral continues
to host high profile funerals and memorials in particular. along with other major civic occasions.
The Cathedral's oulreach is characlerised by our r￿Qncl11at10n ministry, for which we are internationally
known. I have had the Imme.n£e. privikNge of travelling again this year- notably to Canada. where I was
invited to address the annual gatherinB Trf Norlh American Deans in Ottawa, and thon travelled across
Ontario to V151t several centres with h1sttrr￿ Coventry connections. concludin8 with the presentatkJn5 of a
Coventry tross of Nails to St Paul's Cathe(Iral, London ON. In july I wa5 able to spend just two days with our
CCN partner in Odessa, Ukraine, listening to the rehlity of seeking to work lof reconciliat￿Th in the context
ol war. However, we have 3150 been developing our own more locally focu55ed roconciliation pro8rammes,
sharirig a vision ol Reconclliètion ès Mission in kncal communitles.
y the time I wrlte th15, we ￿Ve sakl farewell to CaTh)n Mary. to become 815hop of Re3dinB. and our thanks
and congratulations go to her. We look forward to the arrival of Canon Katè Massey. cominE tc> U5 from the
The Cathedrèl Church of St. Mkhael, Coveniry

Rekh)rt of IhèTrusiees lof the yèar ended 31* December 2034
CAThEtHUL
parlsh of Stockin8ford in the Diocese to be our new Canon for Arts and Reconciliation. WÈ algo Èagerly
3wait the arrwal of our new Bishop. Sophie Jelley. in June. Amongsi others who have moved on, we are a150
especially Eratcful to Carla Crawley, our Head of Vislts and Touiism for nine years. who has movcd to a new
role promoting tourism in the City Centre. There are very many people who contnue to play their part. as
staff. volunteers. or part of our worshippw)g or wider community- in practical service, in governance or
advice, in financial support and so rnuch rnore. We are especially grateful for the support ol the Friends ol
Coventry Cathedral, member5 of the Cathedral coneregation. our Investors in Hope, and the Diocesan
Board of Finance. Our huge thanks go io all of you for Jll that you do.
Coventry Cathedral remains a special place. at the heart of our city and In many ways our country - still
speaking ol God's power to brln8 new life out of destruction. new hopè for all. Thank you for taking the
tlme to read this report. and we hope that it insp(re5 YOU to consider the part yo¢J miiht play, or contlnue
to play. in all that takes place in or through here.
Lrckn
The Very Reverend John Witcombe
Dedn of Coventry
The CJihedral Churchof 5t. Michael. Coventsv

RepK)rt o¥ Ihe Tr￿Stee$ the year ended 31¥ tjeiembei 2024
CAThE
Legal and Admlnlstratlve Information
Full Nome..
The Cathedral Chuich of St_ Michael. Coventry
St_ Michael's House. 11 Priory Row, Covpntry. CVI SEX
Addres5.-
Chority regi5trution number..
1204257
Trustees
The Trustee board ol the Cathedral 15 the Chapter, consistinB of ihe followin8 member5 during 2024,.
The Deon
The Very Reverend john Wilcombe
The Reverend Canon Mary Gregory. Canon for Arts & ReConciliat￿n
The Reverend Nitano Muliei. Canon for Worship & Welcome Ifrom 8
June 20241
Andrew Walster
Residentiory Conons
Senior Non.Executlve Member
Non-Executive
DavKJ JohnstOA
Richard Sapcote
Robin Thomas
Rev. Joarina joyce
lake Sexton
Christ￿n cl.rffe
Graham Warren
Martin Williams
Non.Executive members elected
by the Corhedral Community
Finance, Audlt and Alsk Commlttee
David Johnston (Chairl
Michele Faull luntil 20th March 20241
Paul lennin85
Gillian Bagwell
Nomlnatlons Commlttee
Sally Kaminski-Gaie IChaSrl
Martln Williams
Rosalyn Murphy
Simon Danks
Fabrlc A￿lsory Comrnlttee
lennie Page
Judith Mottram
Mary 51eigh (until 26 February 20241
Geoff Clifton
Louise Campbell
Edith Mueller
George Demidowicz
Biba Dow
TheC3thedral Church ol Si. Michael. Co¥e*try

Rewrt of Ihe Tfusrees lor the yearended 314 Decernber 2024
Emma Dwan O'Reilly
Imogen Rat2
Martin Williams- Secretariat
Professlonal advisers
Cothedrol Architect
Mandy Lorenz. Thomas Ford architect5. londo
Chr15 Patrick, Archaeobxist
Cothedrol Archoeologist
Auditors
Dafferns Audit Limiied, One Eastwood, Binky Business Park,
Coventry. CV3 2UB
HSBC Bank pk, 55 Corporation Street, Coventry, CVI IQJ
HR Depl. The Print Rooms, C23J. Holly Farm Bus¥iess Park, Honiley,
Kenilworth. CV8 1 NP
8unkers
HR Service
LegolAdvisors
Mander Hadley & Co., The Quadrant, Coventry
CCLA Inve51meni Managomcnt Ltd, 85 Queen Victoria St.. London
Investrnent Munt7gers
The CathedThl Church of 51 Mlchael. Co¥eniry

8eport ol the Trustee5 for year ended 314 Oeiember 2024
C[NE￿Ry
CAThEtKAL
STRucfuRE. GOVERNANCE AND MANAGEMENT
Constitutlon of the Cathedral
The con5trtutiorh was adopted on 13:, March 2023 ￿ accordance wilh the Cathedrals Measure 2021.
Registered Charrty Stat115 was achieved on 25" July 2023 IReElStered Charity Number 12042571.
Charltable oblects
The objects of the Cathedral are la) to advance the Christian rel4gion in accordance with the faiih and
practice of the Church ol England. in partKular by furthering the ￿lS510n of the Church ol England.. Ibl to
care for and conserve the fabric and struciure of ihe Cathedral church buildinR', Icl to advance any other
charitable purposes which ale ancillary io the furtherance of the purpose referred to in sub-paragraphs1o1
or Ibl. The Chapter must art lor the publK benefit within the ￿e￿nIn8 of seitK)n 4131 of thp Charitics Act
2011 as ainended by the Charities Act 2022
Roles and Responslbilities
The Chapter and its offirers
The Dean Is The Cha¥ of ihe Chapter. It shall be the duty of the Chapter to direct the ovcram strategy and
tsvernance of the Cathedial. The Chapter met on eleven occasions during the year.
The Chief Operating Officer prepares the busine55 for the meerings of ihe Chapter. In conjunction with the
Dean. and all decIs￿n5 are recorded.
The Chief Finance OfficÉ*r, along wrth the Chipf Operarlng Officer, are responslble for reportin8 the finoncial
activities to the Chair of the Finance. Audii & Risk Ccimmitiee.
The Trustees and committee members are appointed by a process overseen by the Nominatlons
Comr))ittee a£ dèfined in the Constitution and Staluies of the charky- Non-executive Trustee5/members are
appointed for terms ol three years and can serve a iotal of three terms.
There Is In place a process for knduclron whith enables the newly appolnted mernbers to become lamilÈr
with al l of rhe charitws activities and it5 finances, based upon an outhne from the ASS¢KOtk)n of r.nglish
Cathedrals. Newty appointed Trtsstees havr takcn part in training provhjed nationally for members of
Cathedral Chapters.
The stipènds of The r)ean and Residenriary Canons are determined by the National Church. The salaries of
other key staff are reviewed and approved annually by Chapter.
College of Canons
The College of Canons has the following fvnctknns..
lal To dscuss such matters concerning the Cathedral as may be raised by any of its members, and
Ibl To support the Chapter in the promotion and delivery of the m￿%￿n of the Caihpdral.
The Collegc of Canons rnet twice durlng the year in order to full￿ these funct￿￿$.
The Collpgp of Canons met on a further occasion to formaly approve the nomination of Bishop Sophie
Jelley as the next Bishop of Coventry.
The Cathedral Church of St tokhad. Coventry

Aeport ol rhè fwstees for the year ended 3111 D@￿mber 2024
OBJEcfivES. AcfiviTIE5 AND ACHIEVEMENT5
Durin8 the year the Cathedral worked to the strategic priorities established in late 2023 and early 2024, and
the these form the structure for ihe activitie5 and achievements of the year:.
I. To see the Cathedral ernbeL*led as the spiritual heart of the city and Oiocese. as a place where
people are recon¢iled to ont another and to God.
The Cathedral ha5 Continued to be the EatherinR point for ihe D￿Cese at s¥r7ificant liturgical moments
throughout the year." for baptisms and Confirmat￿nS. during Holy Week and for the ordinatt)ns of priests
and deacon5. The CatheLlral has also continued to be a place where people Eather to remember events
occurring in other part5 Of ihe world, particularly Ukralne and Gai•/ Israel/ Palestine. ès well as marking
Windrush Day and Hiroshima Day.
A reconciliation traininR stream was dp.siKnpd durinK thc ycar. the pilot scs5￿n being made available to all
member5 01 the diocese when it ran in the first 2 months 012025
St. Cl¢ire's at the Caihedral Lonlinues ro make space èvadable. to those that might find traditional
approaches lo church more challenging- the intefesi in this comrnunity. along wilh the number of people
partKipatin8, continues io 8row.
2. To See the potentlal of our people released 10 5h•re In the rninlstry ot re(onclllation.
During 2024 we have gathered together an ext1ting Reconciliation Team. drawing from volunteer5, experts
and key Cathedral teams who all deliver our reconcilialion story to partners and visirors. We have shared
our own work, and collaborated and delivered new Y4ork jointly, such as Women Across Ihe Divide.
We created and delivered a very suc¢es%ful staff trainin8 /? day on reconciliation (or all staff. Feedback was
that it was helpful, thought-provoking and fun The format worked well and we will repeal this with more
conient in the futLtre.
Our Lent course was Healing and Hope In the One Household of God. The course Invtted us to empbre hnw
together we might promote healin8 ènd hope to build new plates of bébn8ing and overcome obstacles of
intolerance and indifference.
Since 2023, the Cathedral has set aside the monih of November as the Spasan ol Reconcillation, since
Remè.mbrAnce Sunday as wèll as ihe anniversary of rhe Coventry Blitz siis at the heart of our story and
missir)n. Each year. the season Iocu5ses on a different thcmc. In 2024 we focused on "I he QtJalrtie.s of
Reconciler" each week highlehtin8 a different qualily. Each sermon encouraged congregatK)n members to
tonsider their own Contri￿tiOnS io peace-buildin8 and recc)ncilialion within their own Iwes and contexts
and how they emboo* the qtJalitie5 that were explored. It is our hope to ust the Season of Recornciliaiion as
the springboard to dcvelop Iiturgltal resources that could be used locally and throughout the CCN.
The monthly gathering lor Wonder has sustalned a commitied con8re8alion.
3. To see our eng4emerrt wilh visitors shaped to locus on our reconciliation story
We welcomed 95,000 visitors to the New Cathedral In 2024. 4 slighi reductlon from the numbers in 2023.
We CDntinue to work closely with other local attractions to cr055-promote our VEnues. last year we
particularly worked with St. Mar(5 Guildhall to create the Ywo Tapeslries" tour- which included sh2red
marketing and promotion. We continue to work with Desiinalion Management Organisation Visit Coventry
to ensure that our tourism ofler is seen, thi5 includes a broad ￿a(hIng print ènd digiial c3tnpaign as well as
a highty tailored campaign in the run up to Chri5twna5. We are enga8inR in new projects lor 2025.
call￿￿ra1 Chuichof 51. Michael, Coveniry

Report ol the Trustee5 forthe year ended 31￿ December 2024
CCWE
As parr of his first 6 months v4iih us Canon Nitano. Ca￿n for Worship and Welcome, conducred a rhorough
Welcome Audit which will inform a number of change5 to the presentation of our story over the course of
the next lew years.
The initial findings of the audit have opened up CfOSS depanrrenral d￿C￿sS￿)n5 about how access￿￿ our
facilities as well as our programs are and how equipped are all our staff and vol¢Jnteers equipped to
enhance what Is evidently our strength as a Cathodral. Tho key find￿ES include:
The need for training and sUPPOrt for volunteer welcomers, 8uide5 and ch3plak)s.
A revision of the current interpretation boards and sEnage in the building and the opportunily to
develop 'pilgrimage' rcsouices for visitors.
A revision of our accessibility strategy for physical. sight and hearng impairrnent and an
opportunity to optlmlse the use of the space for persons on the autism spectrum.
A cohesive strategy to develop a shared ownership of the core values of the or8anization between
the weekday operations ol the stalf and the worshipping cornmvnily on a Sundav.
Further work needs to be done in ensuring the Implementation of the findings is clearfy held within a
framework and that this filter5 through and 15 engaged by all wrtlwn the organizatbn.
Learnbng at the CathedrJl continues io recover year on year postlovid with numbers of pupi15 engaging in
our schools programrne ri5XI8 from 12.860 10 15,808. Thp most popular of these continue to be both our
8llti and Fleconciliatbn programmes. The iise in numbers reflects schools conlinulng to recover from Covid
restrictions as well as changes to the ReligK)us Education curriculurn th3E specifically talk to the hislory ol
Coventry Cathedral.
4. To see eM¢itin8 arts •nd events ¢ommSssioned twhich h•rther the lourncy towards reconclllatlon.
The Cathedral continues to pride itsell on being a diverse cultural venue In the (Enlre of Coventry. Its
ecleciic arts and events programrne it something that is reco8nispd. valued and ￿￿brated beyond
Covenlrvs local Cofnmunity and ihis year's svccesses have proven that. In review, we managed to plan and
deliver a hugely successful year of arts and events thai saw u5 devolop ncw partnerships, welcome
previously unreached communities, all whilst still meeting finanti31 expe¢t3lions.
In response to the cost of living cri51s and tontinuing to en8a8e wr(h our local community, one of our
priorilies lor the year was to continue to irow ovr free of charge family progrèmmg. Wp continued to
deliver our Let'5 Chill.. Flaby Hangout and Let's Watch and Make programme, rhat per sessior) Saw us
welcorne on avÈra8e 25-3S participants from diverse backBround5. who then went on to enEaRP Wlth the
rest of the arts and events proÉrammè. Thè first ol these also deveh)ped nto a separate-Let's Toddle"
group. as the fzmilies involved war)fe¢J to remain wnnected as their children grew. Our Seasonal èvertts of
Sprin8 Fest, Narvest Festival and Step into Christmas had a faniastic response and by celebrating rnusic,
food, sustainabiliiv and community, we reached over 5.000 peopk thai might otherwise not engage in the
Cathedral.
Over the ye*ir we continued to grow ihe partnerships within our Arts and Reconcihai•)n pro8ramme,
partnering with Food Union, Warwick University. Goldsmiths. The Local Ukra￿ra￿ Community. Coventry
Council ReluEee & Resettlement Progcamme. and the Careis Trusi", these partnersh.ws resulted in a number
of exhibitions, and film screenings. These mU￿1-f8(eted events gave us the opportynity to engage in the
discourse around social, environmental and political L%5ues and Injustices. and gave artlsts, academics and
underrepresented V0￿e5 the opporlunilyto be heard. As a result we now have new and valued
pa¥tnerships thai we hope to continue to engage wirh in the future.
Fof the second year we developed our non-classical programme, adding items such as Candlelght Concerts.
Pink Floyd tributes and Craft & Flea market5 to the alreaty popular musical programme, silent disco, and
ceilidh evenlngs. We also provided space for the National Youth Choir. These rKJt onfy attract a diverse
The Cathedral Chuich of St Mithael. Co¥eniry

Report olthe Trustee5 for the year ended ]1￿ tktÈmber 2024
audience to the Cathedral but also help to underpin the financ*1 Contrib￿lon of the events programme to
the Cathedral.
A key element of our plan for the year wa5 around team structure and ro*s znd responsibility, attempting
to streamline and improve the capacity and efficiency of the Arts & Events team through clearer
delegaiions and areas of responsibility. Our aim for 2024 wa5 to re51ructure the team following Some staff
departures and this resulted in two new appointment5, Wlth redefined roles.. 'Community and Events
Coordinator, and 'Commercial Events Coordinator,. Our second area of focus was arDund devek)ping our
casual staff pool. In attempts to reduce the need for core staff to Involved In every event delivery. This
wlll require some work through 2025 to devebp sorne of our 5V5tem5 and processes. We also ended the
year with the fantastic news we had been nominated as finalsts for the Coventry and Warwickshire Yhe
Creative & Culture Activator, awards.
To see the Cathedral's reconclllation netswrks developed io foster recon¢iliation localfy.
natlonallyi and around rhe world.
The Cathedral ¢ontinues to factlKate and support the work of other Chrtstian organisations locally.
nationally and internationally In their reconciliation rnini5tries n lar&p. pari through Its partnerships In The
Community of the Cr05s ol Nails and ICONS,. and with non-Ch¥istian organisaiions. through ToBether lor
Hope. The process ol joining encourages in all these organisatiorbs a deep, prayerful. Co1￿CtiVe focus on
their own particular wounds that need to be healed, differences that t)eed to be n3v"gated, and where
jusrice and peace can b¢5 builr., as well as ihe opportunity to visit the Cathedral on pilgriTnaxe or on other
occasions to ensure that at least one fepresentatlve from each or8anisation has a decp f&mdiarity With the
place at the heart of the Coventry me55d¥e 10 share onward. Our reconcifkiton toolkit 'What's Next?.
encourages partner organisations io build on this colledive thinklng and build for the longer term too,
keeping discussion and learning active amon8 their own community. Building and maintaining links with
other or8anisation5 throu8h and acr055 the wider Community ￿ very much encouraged in all new partners.
wbth the organised member bnards of the six core partner regt)ns a¢r0$5 the worbj formin8 the bdckbone
ol the CCN'S International Board. which makes decisions on both strategy and membership.
Interest in thc CCN continues to be hEh in 3 time of Breai upheaval and challen8e across the world. We had
an abovè average r3nge1121 of new partners joining the nciwork last year, boih geo%raphically- acros5
North America, Europe and South Africa - and hy partner type.. chLsrches, a seminary, and several charitie51
peace and social justice organ￿atIOns. In the case of t* sO￿h African partner. we successfully trialled a
new tsption for lon8-distance partners, at) environmentally friendly'virtuaf Cross presentarion, live
streamed on Facebook.
We are working hard currently to grow our library of specific and tThely reconcifotion resourcès on our
CCN pages of the Cathedral website, for the use ol both new and exist￿& partners. Discussions continue
with regard to expanding the Involvement of indivtyjuals as unwug partners in their own righr,. for now. a
cor15iderable number of our active contacts are indeed individuals. Our tWke-vear￿ reconciliation
pilgrimages continue to attract wide partiCipat￿n each spring and autumn. and still form th? foundations of
a partnership applKalion.
We continuo to reieive generous funtjs ènnually from our Gerrnan and US partners which enable not only
our CCN coordlnator p05t but also our Internships. These arc kcy posts in our delivery, and in the case of
the latter, in our youth outreach. where we are back up to three internships each academic year, from
GerfflaTry and the USA, workinR atross reconciliation. events. 5choo15 and the welcomc tcam and in
tsmmvnity In Dewis Lodge.
Due to increased requests from schools interested In joining the ICONS network we brought forward an
ctivity planned for 2025 and prloritlsed the creation of resources in both Engllsh and German. The most
slgnllicant of these was ihe Peace Ambassadors Training for children èged 11-18. This wa5 wrrtten anil
The C81hedral Church of 51 Mrhaei fmentry

AepurtoftheTruste¢slurtheyear ¥thd31￿ Oet#Db¥2014
CAThEtML
trialled as both an online course aTrJ an Irpperson 3 day course. The feedback wa5 encouraging with wplls
feeling empowered to respond in conflict situations and hold positNe conversatbns in times of
disagreement. We also conty.nued the development of our teacher pro8ramme with training opportunities
for more in-depth leaming on peace buildlng praxis in schools.
6. To g•e the Cathedrnl's louyrw proeressed to becomin¢ nel-wo, re¢ondlln8 us to the earth.
At a practical level the Githedral continue5 its implernentatron of LED li8htin& 2024 being the second of S
years to see this tranytion. As part ol the des*n brief for the refurbishment of the property on Prknry Row
it was decided to Move away from the use of and to only utilise elertricity.
The Cathedral has investigated the installation of solar pane15 in the past al￿. followSTh8 a plece of work
supported by Coventry City Councll In 2023, and wlth the ongolng volatility In the utllitles market, ha5
decided to progress this and to ￿e￿rMIne what 15 ¢he fvll business case and to Identify probable fundln8
streams to support a lull implementation.
An Interested 8roup of cotwre8ation members wa51)rought tO8ether ￿ Canon Mary to review how they
might be more involved In ihis area of mM)istry within the organisation, this will be taken further as her
replacement In the role of Canon for Arts & Reconcillatlon Styns Cathedral team.
St•ffiry •nd ¢•pKIty
In June Z024 we wekomed The Reverend Nitarto Mullerfrom the False 8ay dhxese in SoLrth Afrta. loinlng tss as
Canon lor Worship and Welcome. He has brov8ht with him a rlch experieno from a dlfferent conilnent, ab)ni
with a wonderful instinct for toThntctin8wfth people, and the abillty to ￿ad us forw¥d ofi our Ntvrgical journev.
We a￿ Indebted to The Reverend Canon Mary Gre8oryfor her h•rd work and skll to mènale tw ro*s whi15t
we wated for N*anoto arrfve.
ter in the year we re¢efved new5 that Mary herse¥ was to move on. to become Bishop ol Aeadkng in ear
2025.
FolkA¥lng her matemlty leave Asha Eade-GTeÈn chose Tr)t to return to the Cathedral and we are del8hted that
Geor8la Cowie has stepped up ￿tts the role of Head o¢Arts & Events, a Jc& that she demon9traied great
capability for during Asha's maternity leave.
Aftei spending 20 years as the Head of Educatbn, Émma Griifiths rn0￿d to a new role fcotssed purety on
devektping and delNering learning opmunlt*5 Wrthin the work of the Reconciliation team. We are de¥ghted to
have wekomed Jo-Ann Brake as the Head Erwem•nt in j•D￿ry 2025.
S•fe8¥•rdlng
The Cathedral's SafeBuardiNd Advisory Group meet5 three times annualty and 15 thaired by the Cathedral
SafeguardSng Offlcer, who Is a volunteer. The Cathedral has a Memorondum of Understsnding in place with
the DK)cese for support from the Dlotesan Safeguarding Team. The Cathedral Safeguardin8 officer makes
an officlal ieport to Chapter once per year and the subject of 5afe8uardir% 1$ 4 Standing item on chapter
agenda$.
St•tement ¢rf publi¢ befiefft
As a Cathedral of the ChJrth of Ewland the Chapterfs slatLrtory ￿PonsIbl11ty under the Cathedrals
Measure 2021 is to be the seat of the Di0￿san Bishtsp a centre of worship and mlsskjn and to provide
focus forthe life and work of the Church of England in the Diocese. The Trustees, report explains how
Chapter provide5 a benefft to the public throu8h its SUPPOrt of the &i5hop and the Diocese's ongoing
activtty. In addition, the Cathedral, through tts messa8e and ministry of reconcilijtion, reaches out across
Cathedral Chwch ofSL Mlthael, Cthyrtry

RepJrt Df theTru5teE51or theyear wded 311toe£emI￿lO14
CAThE[￿L
Coventry and Wap*ick5hire through its welcome to the bulldln& the varlety of worship. aNJ the Ta￿le of
activities and events provide(1 throughwt the year. Thls is furthef enhanced by Impact made in
communitles in the United Kingdom and aCTOS5 the world Whe￿ orBani5ations align themselves in
membership of Communlty ofthe Cross of Nails.
Pilrtlpal rlsks and un¢ert•lntles
The rSsk re8lster Is r￿QWed annually by the Trustees. The Flnante. AwJlL and Risk Comrnittee have
continued their coachbng of the Dean's Leadershlp Team in impffjwng the risk management structure.
Ouring 2024 Chapter approved an updated Risk Policy and a Risk Appetite Matrix. Durin8 2025 these are
Inforrnin8 the irnprovernent of our organisational Risk Assessment
Ai ihe end of 2024 a summary ot our majw ri5*5 are:
St
taken to Man
the Rlsk
Contractual notlce period5 1 appriisal dlscusslons.
Planned handover when needed. Olscussion in appralsal
about career aspirations. Pay matching where possible.
Flexlble workin8 Qptions •nd use of interims where
required. Salary benchmarking to aid retention.
Maintaining links with commercièl users lesp. unlversity
for graduations). C105e fore￿51¢n8 and focus on
eneraii
unrestrKted income through all means.
Close project timelines and Sper￿ mana8ement.
Accuracy and thoTOU8hness in bids from the outset to
ensure all costs are covered.
Monthly reportin8 of free reserves and ary
e￿raOrdinary cash andlor lialilty. Ongoing monitorln8
of reseNe ￿Ve1$. On8oln8 conversations with Church
Commi55ioner5. Attion plan to train and ensure
effective we of new finano system to reduce thls rlsk
Loss or longttm absen¢e of key staff
members
Commercial income falls as a result
of poor offer I difficutt selling
envlronment
Project ¢>verspend causing greater
than expected draw on Cathe(Jrèl
resources
ReseThes are below required levels
In addition, the following rlsks remain of concern in our register. but we are seeln8 Improvements
whlch su
est the
are reducln
nd will have reduced by the next review-
Rtsk
Ste
taken to Pllan
Risk
Lack of dlv•r5ity in our commlttees.
congregations and staff. which fail to
re
resent the communi
we sèrve
congregat￿￿5 redu
Diverslty Plan created and belnK progressed. D￿er5￿y
woven Into new governan￿ and con5titutN)n work.
Strate8ic plan to Improve the age deff￿graPhIc through
Welcome.
FIMh¢lo1 re¥iew
The result for the year ended 3151 December 2024 was a surplus of £67k. tetore investment galns. this is •
E362k improvement upon the1£295kl deficit foryear eThled 31. Lknmber 2023. Several large Sncome
streams contrknyted to this, includirvd E198k Surplus on the ￿le of Rènutt Croft. accrual of 3 lega¢ies worth
£122k and there were •150 improvements ￿￿SS Events, Retail and Fur)dr•isin& •lrhc*U8h 8rants from Churth
Commissioners down £I￿k with end of the Brant in 2023 for ut4ty I￿￿ase&
Thecathedral Chjthof St MKhael, Covrnlry
io

eportolthe Tru*¢sfor the yearwded 31# C*cembu2024
tAThEtRAL
The Investn*nts ￿Creased ty £188k. this with the £67k Surp￿$ mentioned aFm¥e, less the pension actuarial loss
of1£7kl. meant the funds increased by £248k. Unresiriaed funds increased by £132k Irom £4.751k to £4.883k,
Aemiiued funds de¢￿aSed by1£48kl from f 296k to £248k and endowrrent funds i￿reaSed by £164k from
£5.022k to £5.186
In December 2023 Cathedral ￿uIrtd the yoperty at9-ID Prnry Row. Thbs was a strategic decision to
acquire the final piece of land between Hill Top and new Caihedfèl ro allow future development. rt akn
èllows the residential canons to be attommodated within the Caihedral precinct, thereby allowin8 them to
more effectively deliN*r their roles. In the short term this was funded by an interest free loan from The Lain8
Trust and will uMimatety be funded by sale of the existln8 hL)Usini for the canons. alon8 With the in¥estmefit
property hekl at Far Gosford Street. ConstrUrt￿n work 15 e¥￿ed to com1r￿￿ IA mb&2025 and be completed
by the end of 2025.
Free rèsèrves have intrtaséd in the yèar by £127k from £603k to £730k reflertini net movervent I
unrestrited funds.
2024
2023
£IW f tK>Js
11651
138
Operatin8 pc61t￿n * y￿r end
lrfrease I (Decrease) Sn Iree resen
112
J27
Inveslrnent polky and ￿rformanCe
The investment pollcy is that wlth fespert to the arnounts available for Investment, the charltV5
investment objective5 are to maximise and produce real grovrth in net investment Sncome whllst
54fe8uardi￿ capttal values in real term5 over the lon8 temi and whils1 complyin8 with Church of
England ethiul *ivtstment policy. Real 8rowth Is measured by determlnlry gr¢>wth ab￿ CPI Inflatlon.
The Tru5tee5 re8ularly review investment policy of the charlty to ensure it ¢onilnues to meet the
chan8in8 needs of ihe Organlsat￿ft as It pkns for the future.
As at 31 December 2024. equity investments were valued at £4,916k and are managed by CCLA Investment
Mana8ement Llmlted. These fvnds are invested in C8F Oiurch of EnEland Irhvestment and Global Équlty
Income common investment funds and a￿ compliant with the Church of En8lènd elhlcal Investment ky)Ilcy.
A further investment asset is the directty owned property on the eastern fringe of Covenlry city centre
valued at £225k. Income from Investments was £172k1£156k In 20231 and net investment gains in the year
were £188k (2023: É495kl. CCLA also manage the c*hedrafs Dèposlt account, which was £791k12023..
£638kl.
Over the past five years to 31 December 2024. the value per share of the Cathedral's CCLA investments
increased by more than inflation. In real terms o¥er ￿t five year per*Jd. the bld prlce In the Church of
England Invegiment Fund Increased in value ￿ 19% and the bid prte of the Gk)bal Equity Income fvnd
Increased by 48%.
Ruerves polky
The objectNe of the c￿rI￿$ reserves to ensure ihe provision of a(*qu*e working capital
resources by monltorln8 the le4Tel of ihe charitvs free reserves. Free reserves are lunds that are not tied up
in fixed assets and that are unrestricted- includin8 dèsi8nated funds that have not been committed to
speclfftc expenditure. The Tru5tee5 Conside￿ that the ￿Ve1 of free reserves throughout the year should be
mlnlmum ol 4 m￿th$, worth of the W8eted expenditwè.
At 31 ()ecember 2024. free reserve5 Increased to £730k12023= £603kl. Free reseives increased in terms of
rnOnth￿ worth of the relevant expenditure. arnj the cover ￿ now 5 months, worth12023.. 5 months. worthl.
The CathedTrl Churrh ofst. MKhaeL Coventry
li

Report of the Tru5tee5for the year ended 314 OecErrther 2024
C(WE￿y
The. cash element of these free ieserves is bewE c105ety rnonitored with working capital requ1￿MentS being
monitored closely.
Goin8 ¢oncern
The Findrice, Audit and Flisk Committee. monitor the cashflows of the charrty carefully. We recogni5e the
impact presented by the general c05t of livin8 challenges and are %vorking to address these with suppliers
and careful management.
Having considered the budget for 2025 3n(J the cash flow PFQPCt￿nS and actions being tsken to address
the free reserves wsilion. the Trustees arc confident that the charity will corntinue to be able to meet its
113bilities as they fall dile for the foresepablè. future. Ttie Trustees therefore consxlers that 1¢ 15 4ppropriate
to prepare the financial statements on 3 Boin8 concern ba515.
Role and responsibilities of the Caihedral Chapler
The Chapter's respon51bilities are Set out m ihe ConstitUt￿n and Statutrs of ihe charity. They are, in br*f..
111 The Chapter must direct arKI overs¥e Ihe adn)Inist¥ation ol the affairs af the Cathedral.. and in
performing that duty, the Chapter must in partkular
al order the worship of the Cathedral and promote its mi55ion,'
bl formulate, after eonsufting thp Bi4hop. proposa15 relatin8 to the gener?1 dircction and
mission of the Cathedral..
¢1 prepare an annual budget for the Chapter..
dl prepare an annual report for the Chaprer and annual account5 for avdit and 5ubseoLtenl
approval,.
el keep under review this Constitution and the Slatutes,. Coventry Cathedral . Constitution
FINAL.. In5trumenl 518ned 13 Marth 2023
fl manage the property whKh Is vesred in the Chaptf*r and the ncome accruing fr¢m it and,
in partiCU￿r. ensure that any necessary repairs and malntenance In respect of the
Cathedral and its contents and other buiklings and monuments are tafried out,
121 The Chapter must, wlthin len month5 of the end ol its linantial yvar, send a copy of tts accounts
and annual report (o the Church Corvmiss¥)ncrs. the Bishop and the Chèf ity Commission.
131 The Chapter has the powers relatine to investmeni and other uses of money which are set out In
section 24 01 the Cathedrals Measure 2021.
141 The Chapter is not permitted to use the powv.r tonferred by section 2928 of the Charities Act 2011
Isocial invesrment powerl.
Statement of Tru5tees' Responsibilitles
The Trustee5 are responsible for preparing the Trustees, Annual ReFrf)rt and the fin3nclal statement5 Irh
accordan￿ with applitable law and Unrted Kingdom Accounlin8 Siandards (Llnited Kingdom Generalty
Accepted Accounting Practice).
The tsw applicable to charitie5 in England & Wales requires the Trustees to prepare financial 5tatemcnts for
each finaricial year which give a true and fair view of the stale of affairs of the charity and Df the incornin&
resources and applkation of resources of the charity for that period.
In preparing these financial statements. Ihe Trustees are requred to-.
select suitdble accounling polKi?s and then aJply them Consistent￿,.
observe the methods and principles in the Charities SORP 2019 IFR5 1021..
make judgements and estimates that are re3s0n3ble and prudent;
stale whether applicable accotsnting standards have beerb followed..
The Cdl".edrèl Church of 5t. Michael. Coventry
12

Report ol the Tru5tee5 for theyear e¢Kled 31$1 December 2C124
CATHEtJUL
prepare the financial statements on the going Concern basis unless rt is Inappropriate to presume
that the charity will contirbue in operation.
The Trustees are responsible lor keeping proper accounring rec.ords that d15close with reasonable accur3cv
at any time the financial position of the charity and enable them to ensure that the financial statements
comply with the Charities Act 2011, the Charities IAccount5 and Reports) Regulations 2008 and the
provisions of the trust deed. They are also responsib￿ for 5aleEuardinE the assets of the charity and hence
lor taking reasonable steps lor the prevention and detpctKJn of fraud and other irregularitips.
Dlsclosufe of Informatlon to the auditors
We. the Truslees ol the charity who held offKe al the date o( approval of ihese Financial Statements as set
out above each confirm, so far as we are aware. that.
there 15 no relevant audit information of which the charity'5 aud6tors are unaware,. and
we have taken all the Steps that we ou¥ht to have takcn as Trustccs In order to rnake ourselves
aware of any relevant audit InforMat￿n and to establish that the CO￿panY'S auditors are aware of
that information.
This report of the Tru5tee5 on pa8es i ro 13 was approved by the Trustees and authorised for issue on
27th May 202J and is si8ned on 115 behalf by..
The Very Reverend John Witcombo
Dean of Coventry
Chalrper50n, Board of Trusiees
The Cathedral Church of Sl. Michad, Coventry

CATHEDRAL
Independent Auditor5 Report to theTrustees ol the Cathedral Churfh of St. Mirhael. Coventry
Opinion
We have audited ihe financial sraiements of The Cathedral Church of Si Michael. Coventry (the 'charity'l for the
year ended 31 December 2024 which comprise the S13tement of Financial Acrivitie5. Balance Sheet. Cash Flow
5tatcmcnt and notcs to thc finoncial statemcnt5. includinE senificant accountiryg polii*s. The financial reporting
framework that has been applied in their preparation is 2pplicable law an(J Unrted Kingdom Accounting Standards,
Including Financial Reporting Standard 102 The Financial Reporting Standard 3ppIKablE in the UK and Republic ol
Irelarid Ivnited Kirngdom Generalty Aicepted Aic¢)vniing Prac11￿}.
In our opinion the f￿an(la1 staternents-.
give a true and fail view of the state of thp charity's affairs as at 31 De￿mber 2024. and tsf its incomlng
re5ource5 and 3pplicaiw)n ol resoufces. including lis income and expenijltvre, for the year then Ended,.
have been properly prepared in acLoidance wilh Vnited Kingdom Generally Accepted Accountin8
Practlce.. and
have been prepared irt a¢c¢rdan¢* wth the reouiremenis ol the Charities Act 2011.
Basls lor opiniDn
We ¢ordu¢ted our audit In accordance wlth Iniernatioral Standard5 on Audrtin8 IUKI IISAs IUKII and opplictsble
law. Our responsibilities under thoge Stan￿ardS are fvrther descfibed in the auditor responsibilities for the audit
of the linancial statements section of our report. We are indepen¢Jeni ol the charity in accordènce with the ethical
requirements that are relevant to our audit ol the Iinancial statements in the UK, including the FRC'S Ethical
standord, ond we havc f¥lfille(l our other ethi￿1 iesponsibililies in accordance with ihese requirements. We
believe that the audit ev￿enCe we have obtained is sufficient and appropriate to provlde a ba515 lor our oplnlon.
Concluslons relailni to ￿&re toncem
In auditin8 the financial staiements, we have ¢oncluded thal the Trustpes. use of the going concern basis tsf
accounting in the preparation ol the firtancial statements is appropriare.
Based on the wo¥k we have performed, we have not icenlilied any mateiial uncertainties relating io events or
condr(ions that, individually ¢y ¢ollectively, may cast significant doubi on thecharily's ability io continue as a goin8
corrern for a period of at least ￿e1vé rnnihs from when the finan¢ial statements are authori5ed for i55ue.
Our responsibilities and the responsibilit*s of the Trustees with re5pert to 8oin8 concern arc described in the
relevant 5ertions ol this report.
¢Xhèr Infomatlon
The other inlormation comprises the information Included In the Trustees. annual rvport, orher than ihe Iinancièl
staremenrs Jnd our audttorf% report thereon. The Tfustees are responsible lor the other Information. Our oplnior
on the financial slatemenis éoes nor cover the other inlormation and we ¢Jo not express any form of assurance
conclusion thereon.
Our re5F)onsibillty Is to read ihe other inforrnation and, In doing so. corbsk5er whether the othpr Informatit>n is
materlalty Incons1Sterrt wilh the financial statements or our knowledBe obtained In the course ol the audit Dr
otherwise appears to be materwlly mi55tated. If we Idcntify such material inconsistencies or apparent material
n1155tatEtnents, we are required tn determinè whether this glves rise to a material missrarornent in the financial
staternentS themselves. 11, based on the work we have pprformed. we conclude that there Is a mètedal
misstaternent ol this other Information. ive are required to report ihat fart.
We have nothin8 to report In thi5 iegard.
the cal￿drI1 Church of 5t. Mkhael, Coventry
14

Matters on whith we afe ￿quiTed to report ￿ exception
We have nothing to report in respect of the following matters in relaiion io which the Chaiilies (Accounts
and Reports) Regulations 2(X)8 require us to report to you if. in our opinion..
the Information given in the Trustees. reporl is inconslstent in any rnaterlal respect wlth the financial
stalements,. or
sufficient accounting records have not been kepl. or
the financial statements are not In agreement with the accounting records,. or
we have not received all the information ané explanatKJns we reouire for our audit.
Responsibilities of the Trnstees
As explalned more fully In the Trustees. responslbllitles statement set out on paRe 12, the Trustee5 are
responslble for the preparation of the financial statements and for belng satisfied that they give a true and
fair view, and for such internal control as the Trustees determine Is necessary to enable the preparation of
financial Statements that are free from material misstatement. whcthcr due to fraud or error.
In preparing the financial statements, the Tru5tee5 are responsible for assessing the charity's ability to
continue as a goin8 COn￿rn, disclosin8, as applicable, matters relaied ttr Bolng concern and using the going
concern ba515 of accourbtine unless the Trustees either intend to liquidate the charity or to cease operations.
or have no realistic alternative but to do $0.
Auditorf5 respon51billtles lof the autht of the Ilnanclal statements
We have been appointed as auditor undef section 144 01 the Charities Act 2011 and report kn accordance
with the Aci and relevant regulations made or having effect thereunder.
Our objective5 are to obtain reasonable assurance about whether the linancial 5tatement5 as a whol¥ are
free from material rni55tatement, whether due to fraud or error, and to issue an auditor's report that includes
our oplnion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted
in accordance with ISAS IUKI will alway5 detect a materlal mi551atement when 11 exlsts. Misstatemenis can
3ri5e from fraud or error and are CDnsidered material If. Indiviéualty or in the aggregate, they could
reasonably be expected to influence Ihe economit decisions ol users taken on the basis ol these financial
statements.
Irregularities, including fraud, are instances ol non-compliance with laws and regulations. We design
procedures in Ilne with our Tesponsibilitics, outlined above, to detect malerial mi55tatements in respect of
irre8vlarities, Includin8 fraud. The extent to which our procedures are capable ol detectin8 irregularities,
Including fraud is detailed below..
Enquiry of entity siaff in cornpliante functions to identify any instances of non-compliance with laws
and regulations..
Reviewing minutes of mectings of those charged with £overnance-
Rev*winÉ firbanckil statement disclosures and testirbg io supportin8 documentation to a55ess
¢ompllance wlth applicable laws and ￿{￿lationS.
Performing audit work over the risk of management override of controls. including testbng of journal
entries and other adjustments for appropriateness. evaluaiing the business rationale of 518nificant
transèct*Jns outside the normal course of buslne55 ènd rev￿wing accounting esrknate5 for bias.
The Cathedral Church of St. Mlchael Coventry
15

CAThEtNUL
Because of the inherent limitalion5 of an èudrt.the.rc is a risk thatwe wll notdetett all IrrpRularities, including
those leading to a material misstatement IN the financial statementsor non-compliance with regulation. This
risk increases the more that compliance wilh a law or regulation Is removed Irom the events and iransactlons
reflected the financtal staiemenis. as we will be less likely to become aware of instances of non-
compliance. The risk 15 also greater regarding irre8ularitie5 occurring due to Iraud rather than errtsr, as fraud
involves intentional concealment. foigery. collusion, omission or misrepresenlation.
A further
description
ol our responsib￿ltieS
available
on the FRC'S
website
htt
www.frc or
auditor5
dit-è5surance
auditoT-s-res
onsibilities-for-the-audit-of-the-
descri
n-of-the-audiror%E2%80%99
-res
onsibilities-lor. This descriplion forms part ol our auditar's
report.
at..
Use of our report
This report 15 made 501ely lo the charlty's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reportsl Regulations 2W8. Our audit work has been urbdertaken so that we might state to the
charlty's Trustees 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 resptsnsibihty to anyone other
than the charity and the charity's Trustee5 as a body, lor our audit work. for this report, or for thc oplniDn5
w¥ hiv¥ foimed.
LHrttr]
Lucy Hatton FCCA15enior Staiutory Audiiorl
For and on behalf of Dafferns Audit Limited. Statutory Audiror
One Eastwood
inley Business Park
Coventry
CV3 2UB
5 June 2025
The Caihedral Church of St. Michael. Coyentvy
16

Statement of Financial Artivities for the year ended 31 December 2024
Uwe5trirted Restrirted EDdty4me
Fund5
Funds
Total
1024
Total
2023
Note5
£i)yJs
Income and endowments froTr.
Donatiuns and It8a£ie5
Grants In support DF rnts$￿n
Charges and lees in the course of rnIs￿on
Tradin8 and chargeable events
Inve5rrnent5
orher galn on Disposal of Iixed asset
436
4S9
34
565
161
198
47
438
573
33
601
156
25
37
637
172
72
Tot81 IrKome
853
158
2.OLI
1.801
ExpÈhdltts￿ an..
Rè151ng funds
Chgritable Activities
EducatioTh and outreach
Cathedial and precincis upkeep
Total txpertditure
Net Incomln¥ re50Urtes before invest￿￿1 plns
499
596
135
511
L741
19
163
S21
770
139
514
561
773
151
61)
2.096
io
li
183
112
1201
67
12951
Net ealns on Investmonis rovaluation
Ilet Income
15
io
122
178
495
ZOD
1251
155
Actuarial110551 on pensbn scheme
Transfers between funds
Net mo¥em•nt in fvnds
22
26
io
132
23
13
164
Reconclllatlon ollunds..
Total funds brought forward
Total Funds tattiedlorward
4.7SI
4.883
296
248
5.022
5.186
10,J17
10,C69
All amounts above are derived Irorn continuing operations and the tharkty has no recognised gains or losses
other thèn these passin8 through the Staiement of Financial Activities.
rhe Caihedral Church of 5t. Michael, Coventry
17

CCNENtRY
Balance Sheet as at 31 December 2024
Total
Total
2024
2023
£(XM)s £CQOs
Notes
Fixed 355ets
Investment As5etS
Investments and property
15
5,141
4,946
Tangible fixed assets
Propertv
Work in progress
Fixture5 and fittin85
Total fixed assets
16
16
16
4,347
767
91
4,619
720
104
10.346
10,389
Current Assets
Stock
Debtors
Cash at bènk and In hand
18
19
29
278
839
33
115
751
Total currÈnt assets
1,146
899
Credltors.. liabilities due within one year
20
11701
976
12191
680
Net current assets
Total assets less current liabllltles
11,322
11,069
I 1,0001
10,069
Credilors.. liablllti@s due after more than one year
21
11,CKJ51
10,317
Total Det assets
28
The funds of the Charity
Unrestricted funds
Resiricted funds
Endowmcnt funds
23
24
25
4,883
248
5,186
4,751
296
5,022
Total Charity funds
10.317
10,069
These linantial statements on page$ 17 to 35 were approved by Ihe Trustee5 on 27th May 2025 and
aLrthorised for issue and are signed on it5 behalf by..
The Very Reverend John Witconibe. Dean of Coventry
Chairporson. Cathedral Church of St Michael, Coventry. charlty 4umber 12042S7
The Cath¢dTrl Churchof 51. MIL*bEI. Co¥enlry
18

Cash Flow Statement for the
ear ended 31 December 20Z4
Total
2024
£OOOs
Total
2023
£OOOs
Cash flt)wg from operatlng actlvities..
Net cash inflowlloutflowl by operdting activities {5ee note 271
1295
11831
Cash flows from investing artivities..
Puichase ol Investments
Purchase ol tangible fixed assels
Sale of tangible fixed a55ets
147
437
17201
Cash flows from finan¢int 3rti¥itles:
Recebpl of loiig term Laing Loan
I,wo
Change in cash and cash equwalents
96
Cash ¥nd Cash equivalents at l January
655
Cash and cash equlvalents at 31 December
839
7SI
Thp Cathedral Church of Sr. Mlchael, Co¥entry
19

Notes to the Financial Statements forthe
ear ended 31 December 2024
l. Prlncipal kcountlng Pollcles
Basis of attountlng
The Cathedral 15 a charity registered in the UK and a pubhc ber)elit entity as defned by the Statement of
Recommended Practice for Charitie5 IFRS 1021. Therefore. the financial statÈmÈnis have been prepared in
accordance with "Accountng and Reporting by Charities.. Ststèment of Recomrnended Practice applKab
to charities preparing their accounts in accordance w*h the financial reportinK standard appfKab* n the
UK and Republic of1rclond IFR51021, leffective 1° January 20191" and thp. Charities Act 2011. The financial
statements have been prepared under the hisrorical cost convent￿n except that fixed asset Invcstments
are included at fair value at the balance sheet date.
Curréncy
The linancial statemenis are prepared in Sterling. which Is thè functK)nalcurrency of the charlty. Monelary
amoun¢s in these accounts are rounded to the nearesi thousand pound
Golng Concern
The TfLlStees are satisfied thot thp charity has adequate resources to continue to operate a5 a BQW18
concern for the foreseeable future and have prepared the financial statements on that basis.
Income and empendlture
Income from tollettions and other donations b5 reco8nised when recewed by or on behalf ol the charlv.
Income from grants and legacies is recognstd when notifpd in writing, any conditons rebted to the
entStlement have been rnet and the amount can be measured rcliabtr. fjrani income includes a grant from
the Church Conimlssioners to lund the stipend costs ol I he Dean and two residentiary canons which are
paid by the Church Commissioners, the costs of whKh are shown With￿ >laff costs.
Income from investrnents IS re¢o8nised when receivable. Invesrment income from Cornmon Investment
Funds mana8ed by CCLA Investment Managers Ltd is ¢¢n51dered receivable when dividends are dedared.
Net 84iins and losses on inve5tmenis are reco8nised when invpstments are sold and on revaluation
Expenditure lincluding deprecation and pension costs- see below under'A5set5' and 'Pensions'
respectlvely. and the costs of repairs. restoration and m31ntenance of the Cathedral) is accounted for on an
accruals basis and Ss allocated to the folowing cate8ories in the Statemeni ol Financial Activit*s.. Raislng
funds,. Ministry; Fducation anij outreach." or Cathedral and precinas upkccp. Costs of shared support are
albcated to these caregories as lolbws".
Property Staff costs are allocated In propOrt￿n to ihè dffect cosrs ol these categories, but in th
¢ase of the 'Raising funds, category, takin& instead of the direct C05t5. the incomc raised from
trading, fundraising and investments.
Other support costs are allocated in prowrtion io the lulkiiffle equivalent headccluni for staff
enga8ed in those activities.
The Ca',hedial Church OISI. Miihael. Coveniry
20

CCWEMtRY
CATHEDR
Notes to the Financial Ststements forthe year ended 31 December 2024 (cont'd)
Tangible fixed assets
Consecrated Cathedral Property is excluded from the financial statements as it is considered that a
reasonable estimate. ol the cost cannot be made. All expend.ture incurred on consecrated Cathedral
property and moveable church furnishings. whe.thpr maintenance or inprovement. is wrtiten off as
expenditure in the Statement ot Financial Activities.
Tzngible fixed assets comprise property and rtems of equipment and furnishings c05ting more than £S.CKX)
per item which are expected to be used in more than one year and which are held lor use In m n$tfy or for
dministrative purposes, taking the long-term view on the purpose for which property is held. fangible
fixed assets are stated in the Balance Sheet at cost. Freehold land and the annexe are nat depreciated.
DepreC￿t￿n on other tan8ible fixed assets i% calculated at rates estinated to write off the excess of cost
over Ihe o5tirnated residual value over the estimated useful life of each asset as folkjws..
Freehold buiklin85
Computer equipment
Other equipment and furnishings
50 years
3 year5
Bctwccn 3 ond 10 year5
Stock
StOLk is valued at the lower of cost and net realisable value.
Financial instnjments
Investment assets rKlude shares In investment funds and property held to earn rentals andlor for capital
apprecialion. Investment assets are shown at lair value.
Dobtors aro measured at transatlkin prices less proviSi()n for any impairment. Crodrtors are measured at
trar15action prices le55 any amounts settled. Cash at bank and in hand includes cash equivalent5 such as
cash held in the CCLA CBF Deposit Fund repayable on demand and cash held In a Buth4￿8 Society account.
Pensions
Defined conlributbn pension 5cherne5'. contribution5 are charged io the Statement of Financial Activities a5
Ihoy become payable in accordance wlth the rules of each scheme.
Defined benefit pension scheme.. where ihe scheme IS in deh.cit and the Cathodral is rcquired to make
defKil recovery contributions, a liability lor this obli8ation 15 reco¥ni5ed in the Balance shee.t. The amount
recognised Is discounted to ihe net present value of ihe defKrt recovery iontributions payabk, calculated
Using the dtscount rates detailed in the notes to the liability ffj the Balance Shoet. The unwinding of the
discount rate is recoRnised withln expetbdrture in the Siatement of Financial Actfvities The Iiabillty and
movements in the liability are allocated lo endowment funds which are expectod to generate Invc5tment
ncome suffic*nt to cover the deficrt contributions. Defkrt recovery conrributK)ns acrually p3d In the year
are transferred from unrestricted funds to endowrnent funds. See a150 note 22.
Funds
Unrcstrictod funds are cxpendab￿ at the discrction of thc chariiy in furtherarhce of the ministry of the
Cathedral. The charity may set aside part of its unrestrKted funds to be used for particular purposes In the
future. Such funds are called "designated funds"
Restricted funds are subptt to specffj￿ conditions laid down by the donors or by le8al rnea5ure as to how
they may be used. Endowment funds. a special kind of resrricted funds, are those held on trust for the
benefit of the Cathedral a5 a capital fund. One of the charity's endowment funds is cornprised of
endowment property. The charity's other endowment funds are invested to produtt a reluin.
The Cèrhedral Churth of St. Wichael, Coventry
21

CATHED
2. Donatlons and legacies
UnrÈstriited Re5trirttd EThlty*rnent
Total
Total
Futhds
Fwd5
FuTrJs
2024
2023
£tWs ÉOW5 £QOOs
congregat￿nal andcèihedrèl community coweciions and
ios
210
27
19
89
254
?R
22
Donaiion5
Tax T¥tt>vÈrable under Grft Aid
Incorne from Alkhurches Trtssi
cies
25
19
122
122
45
436
47
438
3. Grants In SUPPDrt of mi55ion
Unrestrlrted Re5trirted Endowmènt
Funds
Funds
Funds
0￿5
Total
2024
£I)iXls
Totsl
2023
£0
Church Comm￿s1One15
Diocesan grants
Other revenue grants
269
137
53
269
Iso
65
368
150
55
13
12
459
25
573
Dlocesan grants In the year of £150k Include £13k12023.. £15kl for St Cknre's at the Cathedral.
4. Charitable Actl¥ilies
Unfestritted Restrirted Enth￿rnerbt
Totsl
Funds
Funds
Fund5 2024
£0Tr)5 £CWs
T*tsl
2023
£OW5
Coniribulions itswards cosis incuried in ihé £otsrse ol mission
Facllity antl f)ther lees
13
20
31
31
34
37
33
The Caihedral Churchof St. thchael, Coventry

CATHEDRAL
Notes to the Financial Statement5 for the
ear ended 31 December 2024
cont'd)
5. Trading and chargeable ￿ertts
Unv2strided knstricted Endowrnenl
Tatal
Fund5
Fund5
£orx)s £fyX)s
Fund5
2014
2023
t￿5 £th)Os £0
Entrance cfv&rge5 to In5itiY5
ChJr8es for iovrs
Income from leitings ef £athedial ènd o:he." bulllirTr8S
Income from events
Gr05s incDme of shop* cafe and ether tiadm8 act￿leS
comrn155￿n income from sa￿5 by thwd part￿5
13
69
149
ij
15
Sri
238
149
194
210
io
J9Ct
72
637
foi
6, Investments
uhrest￿(Eld Rest￿Cted Endowmeni
Total
T￿al
Funds
Funds
1024
2023
£LWOs
ÉtyJ05 £Cth EOC*)5
Income from Inve51ment property
Income from other Inve5tment5
Interest recefvablton short4erm deposir&
17
Ico
17
L6
132
161
IL
172
156
7. Other Income
Urtrtstritttd Rtstrttted EThlowment T￿￿1
Funds
Funds
Fund$ 2024
£￿$ £QOOs
Total
2023
£c
Gain on disosal of lixtd a5Stt>
198
8. Ralslng fvnds
UnlE51r￿lert Re51rided Endowrnent
Funds
Fund5
Fund5
Écths
ÉOOQS
Total
2024
Total
1023
ÉLV)5
£(IJOs
94
239
99
86
254
120
Evenls and tradin8 and lettin8
General marketin
Support Costs
235
85
85
14
89
ioi
499
19
521
561
The Caihedral Church of Si. Michael. Co¥entry
23

Notss to the Financial Statements for the year ended 31 December 2024 (convd)
9. Charitable Artiviiles
Unremicted Bestritted Endowment
Total
Funds
Funds
Funds
2024
£OLK15
£0005
EofwJ5 E0005
Total
2023
EO(
Clergy siipends
cter£y housinE
Recunciliation mlThistry
SeNices and mu51
Other min15try
support Costs
136
55
46
227
40
176
55
86
263
57
133
160
52
82
272
54
153
37
34
si
126
596
163
li
770
773
10. Educatlon and outreach
Vr*¢sirkted Rt5trirted Er*Jowment
Fun¢ts
Fund5
Fund5
£orpJs
£0￿5
£OLX)s
Total
1024
LXKIS
Total
2023
6£
65
65
Chariiable ènd other85￿n6
Support C0515
63
67
7Y
J35
139
151
11. Cathedral and precincts upkeep
Vntestrkned Re%trlrt¢d Ethdowment
Fynds
FI￿d$
r+ds
Os £or
Tot
2024
Total
2023
£OOOs
Ma￿￿ repalrs ard resioralv)n
Minor repèirs and maintenance
Ut14tles
Cathedraland preciThcts •surxbre
Support C051$
75
199
75
2¢7
114
183
53
54
137
56
44
sil
514
611
The Caihedral Church ofst. Michael, Coventry
24

C￿ENt[ty
Notes to the Financial Statements for the
ear ended 31 December 2024 (cont'd)
12. Analysls of wesources expended showing all¢¢ation of support costs
2024
2023
Dwert Support
C05t5
C05t5 Total
OOOS
£o(Kis £OC¥)s
Dirtct Support
Costs
Costs Totsl
£0005 £000s £0005
Rai51n8 fund5
Ministrv
Education and outreèch
Caihedral and preEinas upk¢ep
43
637
72
89
133
67
4b
511
770
139
514
46Q
620
Loi
153
561
773
73
557
78
54 611
335 1.944
l.71U
386 2,096
An•fyi15 01 iuppwt costs
ZOZ4
2023
£1)005 £0fy
StAfl costs
Other Adrninistr41ioD co45
99
2¥7
231
335
13. Staff Costs and numbers Ilncluding clergy) and related party transa(tions
2024
2023
Sliptrnds
Wages and 5atsrles
177
160
6$6
40
55
911
Pension c¢sts
55
Full time Èqu5valent paw 51afl- pèrmanent
Full time equSvalenr pakl - iasuè
Full time equivalenr pald staff - members ol stafl
27
31
32
36
During 2024 the monthly average number of stafl was 3812023.. 401. L¢)oking at these statf as Full-rime
equivalent roles, there were 32 in 202412023.. 361. In addiiion to the pald Members of staff thc Cathedral
relies heavily on the support ol volunleers.
Key management personnel are considered to be the Dean. the Residentiary Canons and the Cathedral
Administrator Ichief OperatinB Officerl and their aggregaie remuneration inchJding social Security and
pension costs was £204,61412023". £178.SS41. The Dean and two Canons recewe stipends in regpect of
their servlces to the Church ot England. whiih are set diid covered by a grant trom ihe Church
Commisslonery.
One Èmployee had total emolumertts wffhin the year Ehot fell wr(htn the banij E60,0(K) - £70,o￿(2023..
one).
I'here were no Trusrees who recei¥ed remuneratK)n in respect of theii p051tiori12023.. nonel. Durirsg the
year three12023.. three) Trustees were reimbtsrsed expenses. including some travel oversea5 as part of the
Cathedral'5 mirhislry, totalling £3,17512023.. £1.1791. Charity Trustee liability cover of a nominal amount of
£.1￿,(￿ is provided as part ol the Cathedral's in5urance5.
The C3thedfal Church OF 5t. MKhaÈl. Coventry
2S

CAThEtNUL
Notes to the Financial statements for the
ear ended 31 December 2024 {cont'd)
14. Net incoming/ loutgoingl resources for the yeav
Net incomin81 lout80in81 resources for the year are slated after charging=
Z024
2021
Auditors rernunpration lor
. Audit serwces
Other 5eMces
D¥pr￿lIa11un
-Endowment
-Unrest.'icied
.RevL'rsal on transition to FRS 102 (note 16
Irreeaver•ble VAT
ID
io
17
29
17
32
15
45
15, Inve5tment5
Vnrnstrirted Restrlned Enduwment
Funds
Fund5
£CO0s
Total
2024
£OtsJ5 £(Ws
2023
F•lrvilue I lanu
Addiilon5
Net Gain 1110551 on revahJatSon
Fair value 31 DKernbEr
495
4,451
4,Y6
4,450
io
178
4,636
495
5,141
Unr*5tricted R*stfided En¢Jowmént
Funds
Fund5
Funds
£(QOs £CbJQ5
Totil
2QZ4
£iThXls
T•t•l
2023
IQOOS
The Investments at 310ecemberwere tr*ld •$ lollow%'.
CLL4 knv*stmtnl mènage15
Property at 129 FarGosftrrd Strtei. Coventry
4,411
225
4.916
225
,721
225
9)5
4.636
5,141
4,946
The value of the property ar 129 Far Gosford Street was last determined from a valuat*>n by an
Independent commercial prop*.Tty a8ency in December 2021. The trustees do not eonsider the fair value to
have chan8ed materially since that date.
The Caihedrèl Church ol St. Michad. Coventry
26

[(NE￿y
CAThEtMUL
Notes to the Financial Statements for the year ended 31 December 2024 Iconvd)
16. Property. equlpment and fvrnishings
Tho now Cathedral was completed in 1962. adjacenl 10 the Ruins of the old medieval church thai was
destroyed in 1940 and under ihe guidehnes Deither the new Cathedral nor the Ruins are ￿duded in fixed
assets. The Cathedral and its contents were insured duwing the year lor a value 01 £64,Y04.76012023".
£63.469,7601.
Priory
Fr•ehold
Row Equlpment
nd and Work in
and
build•np Progress f￿MiShIngS
£OOOs
£OOOs
Total
£OOOs
Cost
l January 2024
Addtlions
sposals
310ecember 2024
5,273
720
47
552
6,545
47
13391
4.934
13391
6,253
767
552
Depreclatlon
l January 2024
Depreciation on disp05)ts
Chargt lor the year
31 D￿ernber 2024
654
11021
35
587
448
1,102
11021
48
1.048
13
451
N¢t book value
31 Decernber 2024
4.347
767
91
5,20S
31 Offernber 2023
4.619
720
104
S,443
Included In Freehokl land and buildings are youcll House, 8ardsley House, 8. loa and 11 Priory Row, HaEh
Lodxe, Dewis Lod80 and the Prece.ntorfs. Canon Pastor's residences ancl the Pavlion.
Included in freehold land and buildings is the Annexe completed and brought iato use in 2023. Following
the accounting policy set out In note I, the Annexe. is held al cost of £3,297k and is not depreciaied. Last
year £31k ol historic depreciation was reversed due to the adoption of this polKy.
17. Syb51diary undertakings
The charity owns the whole of the issued share capital of Coventry Cathedral Trading Limited. £1. The
Company was Incorporated in England on 9 February 2018 and accounts have been prepared for the year
ended 31 December 2024 during whKh the cornpany nor trade.
n)È Cathedral Church Df St. Mithael. Co¥entry
27

CCNE
CATrEtKJL
Notes to the Financial Statements forthe year ended 31 December 2024 (cont'd)
18. Stock
2024
£QJOs
2023
fwos
Good5 for re5*
29
33
19. Debtors
2024
£IQOs
2013
OOOS
Trad* OFbtor5
PrEpdymvnts
Accrued Income
91
42
12
61
115
278
20. Credltors: liabilltles due withln one year
2024
£￿15
2023
£00
Trade Creditors
Other Creditors
Accruals
Deferred Incorne
VAT
Defined henelit pension liability
20
io
8B
35
15
69
65
63
li
170
219
21. Credltors: liabilities due after mort than one year
20Z4
2023
Defined benefir pension lièbilitv
Laln8 lon8.term loan
i.coo
The Cathedral Church of51 Mlchael, Coventry

c(NE￿[Ry
CAThED
Notes to the Financial Statements for the year ended 31 December 2024 (cont'd)
22. Pension provision
The main pension scheme which ha5 been offered by the Cathedral to its employees is TPT
Retirement Solutions, in previous years this was provided by NEST, the workplacc pension set up
by government, a150 a dcfined contribution scheme.
The Growth Plan l-the Plan"), a multi-employcr p¢nsion scheme provides benefits to some 638
non-3550ciated participating employers. The scheme 15 managed by TPT Retirement Solutions
which was a defined benefit pension scheme until September 2012. From October 2012. all
contribullons are made into a defincd contribution section of the Plan.
The scheme is subject to the fundin8 le8islation outlined in the Pensions Act 2004 which came into
force on 30 December 200J. This. togerher with document5 issued by the Pcnsions Regulator and
Technical Actuarial Standards issued by the Financial ReporttnB Couniil, 5¢1 out the framework lor
funding defined benefit occupalional pension schemes in the UK.
The 5chemo is classified ds a 'last-man 5tandin8 arrangement,. Therefore. the company is
potentially liable lor other participating employers, obligations if those employers are unable to
meet their share of the Scheme deficit (ollowing withdrawal from the scheme. Participating
employers are legally required lo meet their share of the scheme deficit on an annuity purchase
basis on withdrawal from the scheme.
At 31 December 2019 there wès one active member ol ihe defined benefit Plan employed by the
Cathedral, who on retirement triggered <1 cessalion evenl. During the "period ol grace" Chapter
decided t0 Set up a new section in ihe TPT scheme and make this pension scheme the
organisatlons default pension scheme, offered to all Staff who were eligible to join.
The Trustee commissions on actuari31 valuation of the Plan every three years. The purpose of the
actuarial valuation is to dctcrmine the funding position of the Plan by comparing rhe assets with
the past service liabilities as at the valuation dale. The rules of (he Plan give the Trustee the power
to require employers to pay additional contributions to ensure that the Plan has sufficient assets
to meet its past service liabilities.
It is not possible in the normal course of events to identify on a reasonable and consistent basis
the share of undèrlying assets and liabilities belonging to individual participating employers.
Accordingly, due to the nature of the Plan. the accounting charge for ihe pèriod represents the
employer contribution payable together with any chanse in Lhe provision for future deficit
payment5.
A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation
showed assets of £5 14.9m, liabilities of £531.Om and a delicit of £16.Im. To eliminate this funding
shortf311, the Trustee has asked the participating employers to pay additivnal Ideficitl
contributions to the scheme.
The Carhedial Church 01st. Michael, Coventry
29

Notes to the Financial Statements for the year ended 31 December 2024 (cont'd)
Deflclt ¢ontrlbutlons
Contributions to settle the defined benefit pension deficit liability and associated plan will
conlinue at £667 per month for the first three months of 2025 and then from l 4>ril 2025 will
decrease to E634 per month.
The January to March 2025 payments of £667 comprise of £305 for deficit contributions plus £362
for the plan expenses. April 2025 onwards the monthly payments of £634 will comprise of £210
beln8 deflclt eontrlbutlons and £424 per month for the plan expenses.
ASSUMPTIONS
31 December 2024 31 December 2023 31 December 2022
% per annum
% per annurn
5.31
% per annum
4.96
Raie of discount
The dlscount rates shown above are the equivalent slngle dlscount rates wblth, vthen used to
dlscount the future recovery plan coTrtributions due, would give the same results as usln8 a full AA
corporate bond yield curve to discount the same recovery plan contributions,
2024
Al l January
Actuarial I￿5
Payments net of ¢h•r8es knihe ￿•r
At 31 Dècèffl￿r
iwllfftles Includ￿ ￿thIrt ￿d￿1)r$ •s fe41tr•A:
Due wY<hin one year (note 2Q)
Due afterone ￿ar {￿le 211
Theca￿d￿l ¢hJrth of*. Mthod.Coven

Notes tothe Financial Statements for the year ended 31 December 2024 Icont'd)
23. Unrestrirted funds
Net Beco£nised
As at 1st Irthmlng
GJln5 OTr
Asat
Jan
Fund5 Inve51ments Tran5fer5
31 t)ec
£(X)J5 £(￿5
oc
£0005 £Crf>05
Gener31 Fvn
Covid RecoVeryDes￿na1tO Fund Iprevious￿* Annexel
PropErty Projects Desi8nated Fund
Canon5' Hougin8 Dp%4nhled Fuod
Prbry Row Car)oNs' Housing De51gn•red
Ruins Desi8nated Fund Ifoimerty Rui15 Aestorat￿nI
Education Des￿nated Fund (Formeify General Edu¢aii¢)rtl
Missl¢n Des*naied Fund IFormeily GeneralCathed¥al
Partntrsl
4.415
114
io
4.53q
114
18
21
ioi
i(
27
28
Congiegotional Life Des48nated Fund (Fwmedy spirit of Litel
Travel Oe518noted Fund (Former￿ fraverj
Reconciliation Ots*naitd Fund IFofmprty fjtTreral
io
Events DesiEnited Fund (Forrnerty E¥ents SustsinJbiktvl
P¢n5TOD5 payrneDt5 transfer
Generol Mu5tc De518natee Fund IForrnerWGeneral
l2
12
37
Ji
751
io
io
4I83
The Cathedral Church of 5t. Michael. Coveiiry
31

Nrtes to the Financial Statements for the
ear ended 31 December 2024
cont'd
24. Restricted funds
A5atl
January
Transfe
Asat31
In¢ome Expendlturo
Ito December
£01)0s desienaiedl
ComTrunity of the Cr05s of N4115
Intern SLPPOrt
c￿entry Peace P"ize
Local Reconillia¢ion Proje(ts
St aare's at the Cathedral
43
25
42
14
IJ
93
52
Clergy vestments
Restoratlon Project
Organ Recblals and Rep31r5
Crypts-wo'ld Monvmenr Fund
Ch3pel ol Unity Heat￿# Project
Rebuld Arts Prog-èmme
Arts and ReconciliatKITh
14
io
18
io
12
51
18
io
12
Various other i¥siiKied luiith
67
26
29
296
158
Z46
Community of the Cross of Noils f-CCN~}. To be usedfor the work of co-ordinatlng CCN tefttres worldwide
ond hosting pilgrimsfrorn tliem.
Intern Support. For grunts and donotions received t0 5UPPOrt the reconcjliation Jnterns ond the cosr5 of
hosiin9 them.
Coventry Peace Prize. Por the oword olthe Peoce Prize by Cily portners, the Cothedrol. the Lord Muyor, rhe
universities ond the 8ishop.
Locol Reconciliotion Projects. Thi5 fund was set up In 2015 for grants for reconcillation projects in the City of
Coventry.
St Clore's ot the Cothedrol. Thi5 fund was scl up in 2017 with a gr&nr from the Coventry Diocesan 8oard ot
Fiftar)ce towards the costs of starting St Cl3rt's as a new church community based at the Cathedral.
Clergy Vesrments. This fund is lo fund the purchase of C*rgy Vestments.
Orgon recitols ond rep(JJr5. Thi5 fund Is for donat￿n5 towards the costs of repaKing the Cathedral organ.
Orgon restorotion. For the restoraiion of the organ.
Arts & Reconciliotion. For the Arts and restoratKsn work
Crypts - World Monument Fund. This fund was set up in 2014 for to fund the rgnovation and re.opening of
the crypts under the ruins.
Chopel of Unity Heotin9 Project. To support the repair and future mairttènanco of the Chappl of Unity
heating system.
New CLrtheOrol Gloss Fund. This lut)d holds donations made from the public to repair and protect the angel
on the Hutton Screen, and any future repdirs to other modern 8lass in the Cathedral.
Cathedrol Portriers. Ihese turM15 are held to support the Cathedral's ministry of reach*i¥ people on the
fringe and beyond.
Rebuild Arts Programme. Fund set up to support our City of Culture Partnership Project-the Rebuild Arts
Programme from 2021-Z2. This fund saw a significant grant from Art5 Council England.
Arts Reconciliation to be used for arts & reconciliation work only.
Various other restricted funds. Monies grven for 5pecif￿ actwities 01 projocts that are accounted for
separatew but which do not have income or expenditure or a balance brought forward or carried forward
in exce55 of £lO.u￿.
For more details on transfer5 See Note 26 to the accounts.
The Cathedral Church of St. Mithiel. Coventry
32

C(NMRY
Notes to the Financial Statement5 forthe year ended 31 December 2024 (cont'd)
25. Endowment f￿d5
G•lTh5,
Ltrsse5 and
Tran5fEf5
EOC¥)5
As at 1st
Jan AdditioThs Expenthture
£(Ws EC
£ot*)5
A5at
31 De(
Property
KenAwarth Stwend5
K*nilv40rh FobFI
iw Ecuc31k)n
574
1350
557
1,394
44
281
178
97
17
298
186
John p e¢wen Caihedial 018an
C%DralEndowmeit Fun*J
GenEral Endowrnent
Domond Endowmtni
14
Z2L
i7
1.613
5.026
61
1,683
5.193
17J.
?0
U7
-131
1201
Less Pen5v)n ￿abl￿1¥
5.032
io
Property
This fund consists entire￿ of endowed property. This is Youell House, 8ardsky House, Haigh and Dewis
Lodges and the Cathodral's buildnBS on Priory Row.
Kenilworth Stipends and Fgbric
These funds were donated by ihe Kenilworrh Trust atNI are invested. The income from the investment5 15
restricted to provislon of staff and maintenance of fabric respeufiiely.
Higgs Education
The income from this endowment is restricted to the provbskjn of education withln the Cathedral.
Choir Scholarship
The Income from this endowment Is restricted io the provislon ol scholarships for choir members.
John F Bowen Cothedrol Orgon
This endowment produces income to asslst with the costs ol maintainin8 the Cathp.dral's organ.
Chorol Endowment
Thls endowment was set up in 2016 to produce incorne to help fund the costs ol ihe choir.
Generul Fndowment
This endowment was set up in 2017 to produce incorne to help fund any Cathedral costs.
DiÈ7monGI Endowmcnt
F.ndowment fund cre.ared for the Diamond Jubilee with the aim of achleving £IOm to sustain the ongoing
ile of Lhe Cèihedral
The Caihedral (hurch of 51. Michael, Coventry

CCWEWRY
Notes to the Financial Statements for the
ear ended 31 December 2024
cont'd
26. Tran5fer5 between funds
General Restritted Endowment
Total
Fund
Fltnds
Fund5
2024
£￿05
ÉO>)s £
Pension dcficit conftibutlDn5 pai¢J In year
General Fund
14
io
231
13
27. Net cash provided by operatlng actlvllles
Total
2024
TDtal
2023
£OfyJs
EOOQS
Net mo¥emtnt In fund5 per SOFA
Adiu%iinent5 for..
Actuarial Igainl/loss on defined benefit PLY)slon schem
Net Igainslllosses on revaluation of investments
Oepreciation
GaSn on diswsal ol fixed asset
Payme.rit ol delined ben￿11 pen￿On liabilitv
Movement in stotk
Ilncre3sel/Decrease Irj debtors
ncrease/lDecreasel ITh creditors
Net cash used by operatin8 att4vitie5
248
200
11881
48
11981
141
14951
18
11631
1491
217
11061
28. Analy515 of net assets by lund type
Unrestrlcted Rostrlrted Endowment
Total
T•t•l
Fund5
Funds
Funds
2014
2023
E(Ws ÉOC•)s £0005
Tangiblo Fixed Assets
Investment Assets
Cash at and in Hand
Stock and Debtors
Current Liabilitie5
Long Term LiabilitiEs
N¢t Assets
4.648
557
5,205
5.443
4.636 5,141
4,946
839
751
307
148
121 11701 12191
I.IX)51 Ll,0001
5.186 10,317 10.069
591
307
11681
li.DWJI
The Caihedral Churcn of St. Miihad. Coventry

(ATHED
Notes to the Financial Statements forthe
ear ended 31 December 2024
cont'd
29. Analysis of the Statement of Financial Activities for the year ended 31 De¢ember 2023 by fund type
The 2024 statement ol Financial Acttr41ties only shows the 2023 comparatple data in total. The statement
below shows the 2023 comparalNe data by fund type as well.
UNesirid¢d Restrldod Endowmènt
Funds
Furthds
Funds
0005
Total
2023
Intome ind erbdowments from..
DonotK)Trs and legacie5
Grants in support ol mi55lvn
318
120
438
573
33
537
24
$26
136
1.541
36
Tr)cling )nd thorKtrJNe event5
Investments
Total Income
75
601
156
1,8Qi
253
Expenlrlurt oo..
Raising Funds
Chariiable Activit*5
Lducation and ouireach
Cathedial ènd precincts upkeep
Ttribl •xpenditur•
Net Incomlnil lou4ofjn81 resou￿•5 befo￿ Int￿lmentio1n%
467
561
138
S34
1.706
91
l97
io
75
373
561
773
151
611
1096
12951
17
11201
Net 8ains / Ilossesl on iThvestryents
Net Incomel {exPer￿rture1
95
400
390
495
200
Iiioi
Transfers beiweeTh funds
Net mo¥emeni In fLM)ds
21
136
12041
13141
388
Reconciliation of furKIs:
Totèl fun(Js brov8ht forward
Tot•1 Fynds cavried lo￿4￿d
4A+lS
4.75L
62¢
296
4,634
9.869
All other amounts above are derNed from continulng operations and the Cathedral ha5 no recognised gains
or losses othor than these passin8 throu8h the Staternent of Financial Act￿ltieS.
The Cathedral Church of St. Mirhael. Coventry
35