Registered Chorilji Ivumber." 1204456 IBooolQQQQQloQoll , oooooolr viloooooo, The Cathedral Church of St Peter and St Wilfrid in Ripon Annual Report and Accounts For the year ended 31 December 2023
The Cathedral Church of 5t Peter and St Wilfrid in Ripon ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED31" DECEMBER 2023 Index Pige Legal. adrnini51Tative Information and organlsational struttures 3to5 Annual report of Chapter 6t016 Audit report 17ty19 Statement of finanrial actItieS 20 Balante sheet 21 Cash flow ststement 22 Notesto the cash flow ststement 23 Notes to the accounts 24to40
The Cathedral Church of St Peter and St Wilfrid in Ripon ST ANNUAI REPORT ANDACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 The Cathedral Church of St Peter and St Wilfrid Reference and Administration details ritle: The Cathedral Churth of St Peter and Stwilfvid in Rlpo Registered oifice.. Ripon Cathedral oir The Old Courthouse Minster Road Ripon HG4 IQS Tel: General ernail: Website: 01765 603d62 postmasteT@rlponcathedral.org.yk www.riponcathedral.orB.uk Charlty number. 1204456 Constitution adopted Isih May 2023 in accordanct with the Cathedravs Measure 2021. Registered Chaiity Status athieved ¢)h 23Td Auzust 2023. Worklng Name: Cathedral Members ol Chaptsr: The Chapter The Chapter Consists of nine member& In addition tothe Dean and the ihree Reydenti3ryCanons, there are Six Other ordained and lay member5 holding appointed or eletted position> membersof The Chapter arelrustees under theChar¢tiesAct. The Chapter 15 made up ès follows".- The Dean The Very Re¥dJohn Dobson DLICThairl The Residentiary Canons Canon Atlsa Newbv Canon Mithael Gisbouff Canon Matthew Pollard Canon aasre Renshaw (R•red February 20231 IAppointedApril 20231 Lay Member5 Professorjoyce H1 IRdiTed Wil 20231 Canon &r Andrew Lawson-Tancied Canon Andrew Kitchingrnan The Ven Clive Mansell Canon Dr Richard Noake Canonjulie Mo(xty IApkKinled September 20231 Advisors to the Chapter: Operatiohs and Finance: Chief Oper31ing Officer MrsAryJanda Anderson Iwinted AuSt 20231 Directorof Operations Acting Director of Operations Missjulya Barker Mr5Anr Groves ILeftJanuary20231 Uanuary 2023-Au8USt 20231 Chief Finance Officer Finance Manager MrsAnr* Gio¥es MrsAnne Groves IAppointed September 20231 Irrtle Chaeseptember 20231
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED 31" DECEMBER 2023 The FinaTh¢e Committee.. Mr Andrew KitchinBrnan lakirl The Very Revd John Dobson Missjulia B3rker Mrs ATrne Groves Mr Richard Coad Mr Tony Humphries Mr Raymond Edwards Mrjohn Groves Mrs Beki Stullion Mrs Manda Mcconnell MfsAman¢Ja AderSOn ILeftJanuary 20231 ILeft March 20231 Ileft Sept 20231 ILeftJuly20231 IApwiinted Juty 20231 IAppointed Au8USt 20231 The FabrlcAdvi50ryCommitiee Mr GwilSon Ichèirl Mi Mick stsnley Mfsjène Furse Dr Stuart Harrison Revd Canon Richard Cook Mr Andrew Graham Mr Christopher Hughes Mrfim Ayres Mrs Lovi5e Priestman Ms RhianTh)n LawrenctrFrantis Audit & Rtsk Commlttee MT lan Bèlland Ichairl Mr Mark Chidley (Chairl Mr Ron litten Prof Phyl HuBhes Mr Chri5 Whapples MrAndy Morrison IRetirÈd April 241 IAppointed May 241 Norninations Commlttee (formed under newconstitutionl Canon Andrew thchingman ISNEM-(hairl The Very Rèvd John Dobson Mr John Robinso Mrchris Sharp IAS Sarah Hollins IAppDintedAugust 231 IAppointed AuRust 231 IAptK>inteil IAu8USt 231 IApw>inted August 231 IAppointed Au8USt 231 Catheth81 Staff The Chapter is sUPrted bylhe Catl*dral staff and those who are¥olunteÈr& ThefjroperatKsns are led bythelollowin8 managers.. Heads of Department Missjulia Barker Mrs Anne Groves Mrs Amanda Anderson Ms Jo Bussey Mrs Anne Grove5 Directorof Operations Acting Dirertor of Operations Chief Operations Officer Director of Developnt Finance Manager Chiel Finance Officer Director of Music Head Verger Retsil ManaBer ILeftJanLWry 231 (January 23- Au8ust 231 (Apwinted August 231 (January 23- September 231 (Appointed SeptembeT 231 Dr Ronny Krippner Mr Charlie Brown Mrs Lynn Ernmett
The Cathedral Church of St Peter and St Wilfrid in Ripon ST ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED31 DECEMBER 2023 Cathedral Oflicers and Ad¥i5ar5 The work of the Chapterwould be Fx>ssible wrthout sUprt from expert5 in various professional fields aslollows.'- ArchStects Caroe Architeuure 2>25 Gwydii StreÈt Cambridge CBI 3QR Auditors Arm5tronE Watson Audit Lirnited Yolk House Thornfield Business Park Northallerton North Yorkshire DL6 2XQ nkers HSBC Bank PLC 34 Weslgate Ripon North Yorkshire HG4 2BL Solicitor5 Wri8* 50li£itors 19 Cookrid8e St¥eet West Yorkshire LS2 3AG Stockbrokers Investec 3 wellinOn Place Leeds Lsi 4AP Archaeolo8ts fld Archaeo5oEY Specialist5 ilnit 8 Fulford Busifiess Park 35 Ho51 Field5 Road York Y01040Z
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED31" DECEMBER 2023 The Cathedral Church of St Peter and St Wilfrid Annual Report of the Chapter Foreword by the Dean This report accomponie5the annual accounts ol Ripon Cathedral for2023. Thi5 was ènother historic year in the life of the nation, with ihe COTonalion in May of his Majesty KinBCh8rles111 and Queen Camilla. Ripon Cathedral pL3yed itslvll part in helpine the city. region and Diocese of Leed5 to mark and ce5ebrate thi5 important mornent. Hundreds gathered in the cathedral to watch Itake part in) the coronation service itself. conducted by the Archbishop of Canterbury in Westmin5tÈr Abbey. RiFon Cathedral has had an association wrÉh many kingsand queens over its long history.. King Charles enjoysthe Freedom of Crty of Ripon. History will probabty not record so fulty the implementation at Rlpon of the Cathedrals Mea5urÈ 2021 which happened in AuEUSt 2023. It was a Ereat achiÈvement. however. re4uirin8 the close attention of chapter overseveral years and the brilliant nd generous 5UPPOrt of three lay caN)n5 who served on an Invaluab stÈerÈng eroup.. Debbie Child, Peter Foskelt, and Judith Donov3n. The lètter had also chaired the Cathedral Countil which. under the pre¥ious measure119991 had been created 8s part of the cèthedral's corporate body. Wrth the advent of the 2021 mea5urÈ. the Chapter becomesthe 5in8le entity making up the corporate body, while also achieving retO8nisable charilable ttatus. The chapter is now regulated by both the Charity Commission and the Churth Commissioner Much work was done to ensure thèt the chèptrfs strtUreS met the requirernents of the new measure. includin8 all necessary policiesand appropriate temis of referere foT311 committee> Infad. this resuked in little perceivable chènee 3t Ripon. One additional committee is the Norninations Committee. chaFred by the Senior Non-Exetutive Member of the Chapter lè new role under the new measurel. filled byAndrew knichingman. who femain51he Cafion Tre35urer_ The Chapter also Chose to retain council, the Consultative Council. invitingJudTth Ihrovan lo its first £hasrand taking the opportunity to strengthen it ès a body of SnIfICant Tegional stakeholders. We are gratdul to all of them lor their willineness to support the £athedral. One might have expetted a year of ialm and qtsieL an opportunity to recover and take stock after the busy celebrètionsof the cathedral's 1351yh anniversary in 2022. Nothing could furtherfrorn truth. with continLted impressive growth and development in many areas, not least in the size of the wor5hipin8 community. the strength of the choir, the nutnber of visitors. the depth and enthusi3sm of the record number of xhool Wits. the creatyon of two new rural forurn5 Ihousing ènd ministry), and the development of plans to make the tathedral net cariK>Th iÈIO. Chapterfs response to Elobal and Ic<al challenges from which it is not immune. along with itsembracingof opportunitieslor mission and dÈvelopmenL are shaped by its vision strategy. Growing God's Kingdotn. launched originally in 2016, it was reviewed and rewsed by Chapter wTth Fts revised ve15i¢)n12022-20271 beirbg launched in May 2022. As 15 reported in following pages, our strategy now has five, ratIrth3 four. main strands ol mission. The addition of becotnin8 Carbon Net2ero and caring for the environment as a cÈntral strategic p[rity is a faithful response to a 8lob31 cri$ which will impact significantly on Ch8Pter accounts for50me years to come_ A *ibrant lin6 comrnunitywill always be engaged in bKlding farewelllo old friends and colleague5 arKI extendln8 a warm welcome to new ones. Canon lsa Newby retired from her ro as Canon Pasior in February 2023. though, happily, she and her husband Ditk remain members of the Cathedral's wor5hiwxng community. Inlhe summer of 2023. we welcomed our new C8non Pastor, the Revd aèire Renshaw. who t(K)k up residence at St Peterfs How with her husband Steve and family. rnmer 2023 also 5awlhe Cathedral ¥Icorne itsfirstchief OFeraling Offiter. We were delighted to wruit Amanda Ander50n who moved 50Uth frorn Durh3m Cathedral where she had done the same role forthe previou5 Six years. She soon found herleet here at RipDn and began to prode the cèihedral with 51iong adminisirative leadershipfor Its operation5.
The Cathedral Church of St Peter and St Wilfrid in Ripon ST ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 Those moving ofi included Juli2 Barker who had beèn the Diiettor of Operations since 2013. Sevef31 roles In the Developrnent Department were made In 2023_ We at50 saw Melanie Renshaw move on from bein8 Fiftance Officer in the Developrnent Department, this wsition will be reappointed in 2024. Other membersof staff that moved on either through retirernent orto other positions included VKtoria Ri£hard50n and Darcy Ajlen. Beth Wickenden wasweltomed as the new Family Officer in September 2023. We were 50rrytO Say 8oodbyeto car Prolessorjoyce Hill frwi Chapterafter 12 years of faithful 5ervite on her part. She de a material contribution to goveTnante whTle also SuprtIng HR management and the interpretation ol the cathedral's AnEltrSaxon origins. 11 was plÈasi•)gthat the Bsshop made het a18yC3Mn emeritu& Chapter was pleased also to welcome Julie Moody ès a new member. filling the vacanry. ry Revdjohn DO1)n an of Ilipon
The Cathedral Churth of St Peter and St Wilfrld in Ripon ANNUAL REPORT ANDACCOUMtS FOR YEAR ENDED 31 DECEMBER 2023 Structure. Governance and Management Constitutlon of the Cathedral Constitution adopted 15th May 2023 In accorthnce with the Cathedral Measure5 2021. Re8istered Charity Status achieved on 23rd August 2023 IRCN 12044561. Charitable objects The objects of the Chapter are: lal to advance the Christian religion in accordante ¥h thefaith and P¥Uite ofthe Church of Enkiand. In particukir bv furtheringthe mission of the Churth of Engknd- Ibl to care for and cOr1Ve the fabric and 5twrtureol thecathedral churth buildin& Icl to advance ¥ny other charitable purposeSWhh are a111•rytOtheIurtherèrXe of the purpose referred to in sub-p3ragTaph Thechopter must att for the wblK benefft witn the me#rtin8of sedksn4131 ofthe Chariknes Act 2011 a5 èmended bythe Ch•ritlesAct 2022. TheAppointment ofchapter Members Chapter Members The Oean Senior Non-Exectit¥¥e Member ISNEMI Resdentiary Canon5 Non-Executbve Members His Majesty The 8islK*p The Bishop Cffiapter with orvoval of the Bishop Roles •md ResponsSbilities The Chapter and ItsoffirS The Dean is Chairrnan ol the Chapter. R shall bethe duty of thechapterto direct and over5eethe administration of the alfairs of the Cathedral. The Chapter rnet oneleven occasions during the year. Under the new Con#itutN)n. Chapter has a8reed to hold at le35t five meetings per yeoT. The Chief Operatin8Offittr. who is also the Chapter Cjth. attends all ChapteT meetin8& The Governèm¢e OffKer a£tSa5 Miriute Secretary. Ch3Pter members are appoiThted in èccordancewith the ConlIL10Th and Ststutes. Non-Executive rnetnbersltrustee5 are oppointed foTlerms of three ye3r5and are not eligible to be rtrapFKJinted until at least th@YearS have pa55ed since they last ceased to hold office as 3 noTrexecuti¥e member of Chapter. Lay MberS hold office for three years bare eligible for MeMp fora furtheTtwo terms of office. New member5 of Chapter afe invited to attend traininz courses run bythe Association of English Cathedralstovering the role and duties of Chapter mernber5, Cathedral law and Bovemance. finantt and risk Magernent. and topical trity issue5. Cathedral Coun¢il The purpose of the Council 15 tolurtheT and 5UPtK>rt twOrk of the Cathedral. spiritual. pastoral, ewdA8Èlistic. soc¢al and ecumenical, Weewing and a(fvi&nE Upon the direttion and ovefyght of that work by the Chapter. The Council met on two occasions durin8 the year. Underthe new CO[11U11on Cathedral coLclI wsed to operate as a on 91hJune 2023. Colege of Canons The ro of the College of carnS fjsto conydef the Annual Rwrt and ¥udited accounts of the Cathedral. The College of Canons met once during theyear. Under the new Constitution the ColleBe of Canons hasthe folk)wingfLtnrtions.' al recfft and conslder the Annual Report and Audtted Accountsof thecathedral. bl to discu55 m•ttwscorKeminB the lrfe of the Cathedral, cl io 5UPPOrt the ministryand miwon of thecathedral.
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31" DECEMBER 2023 Objectlves and Activities The Cathedraf5 Mission & Vtslon: Growing God's Ripon Cathedral is one of three cathedrals within the Diocese ol Leeds. serwng G,5 mission through the Bi5h¢)p ol Leeds across the whole diocese. It Is also a parish thurch for RiFx)n. RipoTr Cathedral'5 won and strategy. launched in 2016. is c311ed Growing God'5 Kingdom. Gmwing Gotys Kingdom 5hovkl not be MnderStood. It is notthou8htthat flin Cathedral orkny other church turn5 G(rfs world into God's kingdom by human effort. It 15 alway5 G¢)d who prowdestheErowth through his gra. But it is tlear from Jesus, teachirig on the kingdorn as recorded in the NewTestament that hÈ Couraged his followersto work in rtnerShIp with hitn. In fètt, Ir can be concluded that the Church existsto do exadly thaL be¢nE Christ's active and vibrant body in the world today. St. Matthew's Gospel, Chapter 13. contains a large collection of Jesus. parables about the kingdom. One famously describe5 It ès a mustsrd seed.. it 1550methin8 that is expected to Erow. RiKx)n Cathedral seeks to work with Christ, then. in doing all that it can to bear witness to the existinB5ignsof Go(fs kingth)m in his world, and to help that kir¥dorn to 8row until God's will iséone on earth as it is in heaven. Growing God5 Kingdom Identifies five rnain alS of missfjon. each with its own specthc thère of the overall vtsSon to 8row God5 kingdom.. Growlng the worshipp8 communhy Ripon Cathedral is first and foremost a IMn8 church. We seek lo iE JÈsukshaped.' a place of vibrant worship growing confident Christians,. a place of lÈty. teaching and nurture for an Increasing dNerse range of Feople and 3 p13ce for exploration and growth in far(h and semce. The $10ft of Ripon CalhedTal i5to bÈ a worshippingcommunitythat is 8rowin8 numerKaland 5Piritu•1. Bein8 a Mher Churth of the DiLKese and prodaiminz the Good News ofthe Kinzdorn to the regiL The Cathedral 15 the seat ol the Bishop of Leeds. a plèce for his teachin& the proclamation of the Gospel and è centre ol learning. With its sistercathedTalsol Bradford and Wakefield, it is one mother church in a trinity of mother churches forthe diotese. The vi&on Is to develop the Cathedral as a centre of FNlgrima8e.' enhance the l*tOr joumey. and provide buildings and facilities to deEiverthe Cathedral strate8v. Promotin& Developing and Conserving rspIrra[ and Buill Heritage The Cathedral is a place that promotes the Christian faith to all who enter it or vt5it itvlrtua1. It speaks of the Christian fafrth through its rich spiriluèl and bu• heritage. We Mll conserve a[ interpret fts herltage forthe benefrt ol all. Respondingto Human 14eed in Lrmng Partnetship The Cathedral works with others to strengthen the community and fvrtherju5tice. peace. and reconciliètion, eng3Eing with £harities and portner5 in the region to supFort the socrdl care, the relief of need and the combatin8 of injustice. It will be a place that f05ter5 wellbeing at the heart of its ¢ommunTty and faces challenges tO8ether. Carbon Net Zero.. StrrwngtsS•feBuardthe Integrity of Creation The Cathedral strive5to be sustainable acr055 all arÈasol its mtsyon. Imng resnSIbly3nd within its SOurceS as part of God's world. It promotes a Christion perspÈttive on the care of Go(fs tTÈation. The Values In developing Growlng God'5 fingdom. the CfvpteT wa5 irbfluented bythe clear longinE of Jesus for God's worfd to become God's kingdom and for ea£h Ton to enjoy life in itslullnÈss. From this, the following values were identified and help to shape the mi55ion-. LOn8 vin8 Learnlng
The Cathedral Church of St Peter and St Wilfrid in Ripon
ST
ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023
The Priorities for 2023 ahdlorthoyning year5
The Chapter wiews the wiorrLies e¥erytwo yearsand moniiors progre55 vegularly. The prioritiesfor 2023 and beyorKI in¢ludÈ.'
provide opportunrLies for everyone to experiente excellence in worship and to develop in faith-
encourage more peopleto participate in worship and en838e in the life of the tathetlral-
safeguard all who have contact with the cathedral. ensuring tt is a safe plate in which all may respond to Go(fs call to
support mission of the Btshop irKlu(fingthe W0s1On of education foi all..
trÈatÈ a tèthedral precinct that +5 rrtlor purpose for current and future ne5-
develop a visitor expeTien£e that allowseveryonetoenjoythetathedral and discover something new abo Chrlst¢an
fèith and heritaEe-
continue to work in partnership across the cty, dioce. and re8K>n. £ollatrKsrating with a wide ronge of organisations
and sectionsof society:
reduce the tmpart that our work has on Gorfs earth 8$ we aspire to carbon net zero by 2030.
Achievements and Performance: Report on the five Main Areas of Mission
Growing theWor5hipping Communlty
2023 sawthe stronE reroverylrom the imcl of the Covid parthmK continue with conEreEationsEfowifi8 btyond their pr
Cowid leve15. The average age also continued to fall.
Streamed services have now become routine. with the Sunday morning Cho¥31 Euchar45t being streamed every week. This
provides additional sustained growth tothe worshipping community. by at least tween 100 to 200 each week. The number of
on-line attendee5 for theAdvent Proce00 was an all-time high lor RiFQn, more than 19.W).
The Kin
The Cathedral Church of St Peter and St Wilfrid in Ripon
ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023
In 2022 we saw the development of a robust edLatIOn strategy wthin a strengthened education committee. in 2023 we
celebrated the fruits of it5 implementation being clear to see. with over l.m) visits to the tathÈdral by pupils of schooLs across
the rÈgion. An ambitious tarEet W?5 thu5 more than met. This wasthanksto the leadership of the Canon Chancellor (Canon
Mètthew Pollard). the inspired work of the Education OfficeT. YvonneJefferie5. and the invaluable £ontribution made by a
Erowing nurnber of able and committed volvnteers.
In addition to work with schools. the Education Committee a150 arranged an autumn lecture programme, given bycènon Prof
Joyce Hill. focussed on the religiou5 comrnunities and joumeys of Wilfr. along with some of the treasu$ he broughtto Ripon.
Promotin¥p
Dtvelopmetrt Conserying
The Cathedral Church of St Peter and St Wilfrid in Ripon
ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED 31" DECEMBER 2023
finanual Review
General Sttuatiom
(chapterfUTe$OTrIV1
Ripon Cathedral had a good yearffinarKialty sn 2023. T81 income rose by 3.5% to £1.9m. an all-time record. Service Collettions
rose by a very healthy 12% while 5((OrdOnatIOnS 31sogrew by 4%. p$1&ty. the adoption of contartless gin8 has now taken
frm root and continue5to grow while not reducing cash donations.
Expenditure was signIcantty reduced asthe level of major repairsand restoration costs experienced in 2022 was not repeated.
With the benefit of a higher level of operatin8 pertomiance we took OprtUnIty to make prowi%on foT a range of known,
one-off upcoming COSt5 and therefore declared an unre5trKtÈd operatin8 det 01 £37,OCKJ.
Were we not to have made such PTovision5 foT one-off costs. we would have shown an operating wrplus of 8pproxlmately
£38,000. Chapter 15 pleased to have delbvered ather yeaT of pre-exceptional operalirtg surplus.
Followin8 the rv&w Cathedral Measure. the cpIer has concluded thèt it has subsidiary control over the Littlethorpe Benefice
and therefore it5financ5è1 accounts are now 5h<iwn in the Chapter accounts. Thi5 has res4Jlted in 3 ontroff adjustment this year
odding #pproximatefy £104k to the restritted irome.
Our inve
The Cathedral Church of St Peter and St WilFrid in Ripon ST ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 The primary objettive of our inve5tmÈnt remains to pro?Ade long term capital growth. The 5Ècond objective rernains to produce 5UStainable income and the third obiertive is thal tht5 irbromè will aim to irKreose in excess of the Prevalent fate of inflation. l inwestrnÈnts are compliant with tChUrCh of England Ethical ltsvemeTht Poliry. The bÈ8inning of 2023 had seen the start of a Tecoveryin the asset valuationsaftera difficult 2022. The value of the Investment rtfolio on 31 December 2023 was£4.733,838 whith comparesto £4.155.951 asat 31 December 2022. The Investment Comm¢ttÈe ol Chapter conttnue5 to monitor dosely both the rsk profileand returns of the investment portfolio. Afull summaryof the investments is pmMded in note 7 & 8. In accordante with the Association of English Cathedral Reguktions in¥stments are included at bid price. All rnovements In the bid price are rdected in the statement of financial actilIeS. Total Return l Loss on oiher Ih¥estmer 2023 Gr055 Income Fixed Interest 13302 26.938 37.111 302 30,135 35,418 47,051 79 UK Equities Overseès eouities National Savings Total Gross Inrom loss on revaluations Investment Mana8emefit Costs Totsl Return/lLossl on Other Investments 78.253 449,457 124.5571 503.153 112.683 Ino,7181 144,1931 652.2281 Major Sources of linance The major sources of income are from thechurch Comrni55ione[ grant tOW3rds loy salariÈL The stipends of the Dean and the two Canons are paid by the Church Commissionets anrl the Diocese pays the511nd ol the Canon Chancellor. Anticipating the implementation of the Cathedrals Measure 2021 ir¢ 2023. Ripon Cathedral Closed the PCC aciounts. channelling a11 offertory tollettions directty into the Chapter accounts. Cathedral Properties Propertyvalues have been Incl in the balance sheel in accordance with the guidelines. Investment properties are those from which a corrkmertial rent ss obtsined. The proKrtyvaluations were wepaTed in 2021 by SandeTX)n Weatherall. ThÈChapter Investment propertyes are reviewed and wofessionally revaId every 5 years. This independent valuatlon is not required for the 2023 financial accounts. Chapter has agreed that the level of investment property va5uètion is reasonable in the context of the last independentvaluation and market conditi(rts prevading %ncethen and now. The investment prOrtIeS owr byiThapteran¢Vor its sub5Kliory entities are either redential or hospitslity and retail entitles. Sincethe last independent Valuation. valuations inihese sector5 in UK have broadty flat in hospitality and modestlv down in residential. 15uch properties are the subjert of commercial lencle5 which aim to mirror the maTket nom)s. Chapter 15 CurntlY rewewing the rental terrns of its ressdenti?I portfolK) and planning a stsEed Tental increase. Given all ef the above. Chapter considers that the value at which investment prortleS3re ststed in the statutory account5 15 fatr and reasonable. The properties aTe valued in accordance wrih rK>tes 6 and 9. Repair and Mainttnance ofthe tsthedr*l 13
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAI REPORT ANDACCOUNTS FOR YEAR ENDED31" DECEMBER 2023 The following infortnètion is based on the Cathedral'sforward proiecilmaiTrtenarKe plan as tonsidered by Chapterand which is under review. Sorne of the major projects in futu years areconditioTral on yant aid arKI lunds ralsed bythe Ripon Cathedral Development Campai8n. Ripon Cathedral Renewed is 3 lèrge project irKorporating improvementsto thevi%tor e¥perience tn the development of new facilrties on the north side of the cathedral. A later phaseol project will see 5i8nifiiafit imyovement5to the vi51tor experience in the cathedRI. No. Pro 2024 2025 2026 £k 2027 Z028 £k £k Ék £k Repairs to estat wèlls Riptrn Cèthedral Renewed Bepairs to Minster House EstateTree work io io io io io Coach House repairs PV Solar Panel Pro'ect Renewed phase 2 Estate repairs General cathedial repairs 250 250 i(M) 17 18 19 20 20 Total Expenditure 137 4298 158 2.558 Reserves Unrestricted funds held i reseNes Ve accumulated over theyears from le8aoe& donation& and gains on asse These reserve5 are held lorthe cathedral's mission in it5widest sense. Major ilerns of expendire During 2023 prelirninary works were started on the PV Solar Panel Proiectata C05t 01 £56.726 whtch was funded frorn O)apter fund5 and a £20,000 grant from the Friermk of Ripon Caihedral. We continL*d to incur expenditure on the ftered project in 2023 to the svrn of £51,124. Sources otfinance As in previous years, the main sources of finance hove been fTom voluntarythsThatH)n5. investment income and leEacie5. Funds have been raised throLtEh grant appliiationsfor mèjor proje. Reportfrom the FabrICA$0ry Cornmillee In the lost financial year, the Cathedral's Fatffic Athsory Committee met formany on four o£caslon& They oveT5aW the dÈvelopment of the follobwng projetts.. Rlpon Cathedral Renewed The Inventory Project The Snstall3tion of Setondarygla2iftg & Solar PaThe15 The Chapel of ResurrectK)n- interments Rlsk Management The CbapteT hascreated a Risk Re8iSterwhKh 15 reMEwed everyguarter to manage the vdriety of risks acr0551he Cathedr31. 14
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED31 DECEMBER 2023 Cathed¥al Polioes The Cathedral has a wide r•n8e ot pofitses in Ce. some of which are listed bdow.. Heakh and Safety Policy Ststement DibilIty Policy SafÈguarding Poltcy Data Protectiorb Polity Whistleblow¢n8 policy Menopause poliry Full range of HR Polities induding a khaviours framework PrintiP81 rosks and uncertaintie5 Cèreful con&derètion iSEiven to all majoT risks to which the Caihedral is exFx)sed. Chapter is Tespofisible lor ensurin8 effectlve risk manaEement ènd that the ifflernal controls are in place to 3ppTopriètely monage the OTganisètions risk exposure. The Cathedral retoenisesthat any risk management System can onty manage risks and not eliminate them entlTely. The Cathedral's insurance cover 15 rerEwed annvalty and is curremty provided by E£desiast6cal Insurance who Condurt a visit everyyear. Contro15 are in place to ensure the CathedTal'5 financial attiwties ore properly manèged. These include budgetèry control, account reconciliation PTocedures. cash ac£ounrin8 procedures and monitoring of the Cathedrals investment strateEY ind re13ted ri5k& Management accounts are reviewed bythe Finance Committee each quarter and the Chapter each month. The role olthe Calhedral in the Dlocese of Leeds Rlpon Cathedral 15 one tsf three Cathedrals iTrthe Diocese of Leeds." a unique arrar¥ement in the historyof the Church of England. It Is a trK)thÈr church to the whole diocese. As such. it is a foc for unity and its artiwties of prayer. witness and worship support the Bishop in his mssion to all peopieand tommunities vAthin the diocesan boundarie All three cathedrals Ripon. Wakefield and Bradford serve the Bishop a5 C•ltrÈsof mison and in providing a platform for his teaching and public rninistry within the reyon. The three Deans have prOSed that all thÈ cathedrals be reEaréed as centre5 of excellence in relation to liturgy. rnusir. and misgon. butthat each cathra1 develops èreasof specialisrn. For Ripon Cathedral these include rural mission, education. and ministry to the trbilitary Communities of North Yorkshire. The three Deans have 0150 adopted a three-year wle of six diLKe5an celebrations that results in the Bishop of Leeds bein8 in each ol his Cathedrals for two of these each year. In 2023 Bishop Nick was in Ripon forthe Easter Vigil Confirmation5 arKI Christmas mo¥nin8. He was also in the Cathedral forthe installations of canon& aswell as a $1 of other Cathedral and OM)cesan events. The cathedral welcomes morby Visiting preachers. irKILKling members of the College of Canon% everyyear. The Dean and residentiary canons also preach, teach and minister throughout the diocese. Statutorycommittees The Ftnot7ce Committee advises Chapter in its responsibilities in the field of financiol and an1ment management. Th committee is folma1 established bytheCalheilraVsConstitutioTh a1 Strte* The FobricAdvisory Comfflittee is a Statutory body, whKh reptsrtsto the Cathedra15' Fabrit Commission for England. It has ten mernber5. No work may be carried out on the cèthedrèl thai would materialty affert its ar£hitectu¥ol, arch4eological, èrtistic. or historic character. nor may any architectural, arCe010g1Cal or artistic interest be 501d. lentor disposed of without the approval ofeither the Commiwon or the Fabric Athsory Committee. Addltlonal Committee$ In addr(ion to the above statutory commsttees, these followin8 commitlees have been estabtished to support Ihe newlv laurKhed Vision and Str3tegy'Growing GNfs Kiywthj". Worship ondMusic- chaired byThe Canon Precentor. CanoTh Mirhael Gisboume Church Growth- chaired byThe CaTh)n Pastor. C•non Oaire Renshaw
The Cathedral Church of St Peter and St Wilfrid in Ripon ST ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 Welcome. Pilgrimoge ondHerituge. thaired byThe Canon Ch¥ntÈllor. Canon Matthew Pollard EdLCOtion ondAIIAge leorning-chaired Canon Cthancellor. Carnn Matthew Pollard 8uildino5. chalred bycanon sIrAr[tW L3wson-Tancred RurolForum Executive- Chaired byThe Canon CharKellor. Canon Matthew Pollard CommuTrictstion Qndmorketingstroteg Chai byThe Dean Net Zero ondEnvironrnental- £Ired by David Elsy Development Comrnittee- £Ired byThe Dean Audit& Risk- chaired by Mark ChKllev SJfeguordirJg- Chaired by CaMTh John Wood Nominotions- Chaired by Canon ArreW Kitchingman How deosions Ore made The ChapteT directs ènd overseas the administration of the affairs of the Cathedral. In particular, it decide5 on the general direction and rni55i0n of the Cathedral. orders the worship. approves the annLwI budget and approves all wlicies. The Ch4ptÈrfs decision5 are rbow inlluenced by the and stiate8y of GrowsngGod'5 Kingdom- Senlor Management Team A Senior Mènagementyeam ha5 been established as part of the Cathdral Measure 2021. Thi5 team is accountable to the Chapter forthe executive management olthe Cathedral and is respons¢ble forlorrnulating strategTes. plans, and budEetsfor approval of Chapter. It meets every fortnight and consistsof the Dean. each residentfjary canon, the chief offi¢ers and any SLKh member of staff a5the Chapter considers appropriate. Arrangements for 5et¢ing the remuneration ol key seni(Ys¢aff The YOf seniorstsff is set on appoifitment in relatioTrio market Trtes and comparative cathedral Tates. Statement of public benefit As 3 Cathedral of the Church of England theChaptÈrfs statLrtory rewn5ibility under the Cathedrafs Measure 2021 i5to be the seat of the Dsocesan Bishop and a £entrÈ of worship and rni55ion •nd prO1ng8 focusfor the life and work of the Church of England in the diocese. The Cathedral not onlyserves the communrtydè1 in its religiou5 and £haritsble work but is an active resource of national importènce in the promotiON of religion. music. history and architecture. TheCathedral'sAthnu81 Rewew. alon8 Wlth its Annu31 Report, describes the actiwties thot deliverthese core public benefits. Approval This ann1 report arbdthe tonsolbjated and Signed on i haL cial 5taterrntswere approved bythe Chapter on the 2210712024 R Dobson an of Ripo 16
The Cathedral Church of St Peter and St Wilfrid in Ripon ST ANNUAL REPORT ANDACCOUNT5 FOR YEAR ENDED 31 DECEMBER 2023 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE CATHEDL4L CHURCH OF PFfER AND ST WILFRID JN RIPON Opinio We have audited the financial st?tements ol The Cèthedral Churth of St Peter and St Wilfrid in Ripon for the year ended 31 December 2023 which comprise the consolidated siaternent of finoncial activpties. the consolidated balance Sheet, thè balance sheet, the consolidated ststement ol cashllow5and the related notes. irKludin8 a summary ol gnIfIcant accounting policie5. The financial reporting framework that been appld in their weparation is applKable law and United Kingdorn Accounting Standèrds. includin8 Financial Reporting Standard 102 Financial Reporting Stsndard applicable in the UK and Republic of Ireland. (United Kingdom Generalty Ac£epted AccountinE Practicel- The financial statements have be prepared in accordance wrth Ac(ountinBarKI Rew)rtin8 by Charities preparing their èccounts in accordance with the FInarla1 Reporting StsndaTds applirable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant re8ulation5 but has been hdraWn. Thishas been done in orderforthÈ accountsto prOdea trLand fairview inaccortlbntewiththeGenerallyAcceptedAccountin8 Practice effective for reporting pefiods beginnin&on or after l January 2019. In our opinion the financial staiements= give a true and fair wew of the 51ate ol the Cathedral and group's affair5 as at 31 Decemr 2023 and of its incorning resovrces and appl*ation of resources forthe yearthen ended,. have properly prepared in aCCOTdance wtth ijnited Kingdom Generally Accepted Acigunting Prartice.. ènd hève been prepared in accordance with 8uidÈlines specified by the Church Cornrnissioners under the powers Eiven to thern by 5ertion 30 of the Cathedrals Measure 2021 and in aCCOTdan¢e with the CharItS Act 2011. B4si5 for tyinion We condurted our audrt in accordance with International stsndards on Auditing IUKI IISAS IUKII and appllcable Low. OUT responsibilities under those standards are further described in the AuditoTS' responbIlitIeS for the audr( of the financial statements Section of our report. We are iTrdepeTrdent of the C3thÈdral Tn accordènce with the ethical requirements that are relevBnt to our audit of the financial Statements in the UnTted Kingdom, including the Financial Reporting Council's Ethical Standard. andwe havefulfilled our other ethical responsibilities in accordèncemththese requ1MentS. We believe thatthe audrt evidencewe have obtained is suffKient and approprkitÈ to prowdeè basisfor ouropinion. Condusions relating to 8oin8 concern In auditinE the finan¢ièl statements. we have conduded that the Tru5tees' use of the going concem bèys of accounting in the preparation of the finèncial statements 15 appropriate. Based on the work we ve performed. ho not identifd ariy material urKertainties relating lo events or tonditions that, individually or collectively. may cast signifitant doubt on ihe Cathedral's aixlity tti ¢ontinue as a going concern for a peTiod of at least twelve rnoJth5frotn when the financial statementsare authorised lor issue. Our responssbilities and the responsibilttiÈs of the Triisiees with respect lo going concern are descr¢W in the relevant 5eciions of this report. Other Infwmation The other information comprises the iTrforniation included in the annual report otheT than the financial staternents and our 3uditors' report thereon. The Trustees are responsible forthe other tnformation contsined within the annual report. Our opinion on the financial statements does nol cover other information and. eycept to the extent otherwise explicitly stated in our report, we do not exprÈss any form of assurance corKlusion thereon. OUT resptrnsibility is to read the other information and. Sn oing so. consider whether the other information is mèterièlly inconssstent with the financial ststements, or our knowledge obtèined in the course of the a%Jdit. or othernwse apFears to te materiolty Tnisstated. If we identify such Material inconsistÈn£ies or apparent material misstaternent& we are required to detemine whether this gives fist to a material misstatement in the financial st8tementS thern5elve5. rf, based on the work we have performeil. we c¢)nclwJe t1 there isa material mi55tatemÈnt of this Other information, we are required to rew)rt that facL i?
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED 31, DECEMBER 2023 JNDEPENDENT AUDITORV REPORT TO THE TRufEES OFTHE CATHEDRAL CHURCH OF ST PETER AND ST WILFRID IN RIPON We have nothingto report in this reB4Td. Matters on whith we are requiredto report by exceptron We have nothinE to report i# respett of the following matters where the Cathedrals Measure 2021 and Charitles IAccoun15 and Reportsl Regulations 2008 requires v5 to report to you if. in our opinion.. the information given in the Annual rekK)rt Is intonsistent in any material respect with the financial statements., or sufficient accountin8 records have not been kept.. or the financial ststemenls are not in 88reement with the 4¢tountirvd record5- we have not received all the infoTmatw)n arKI ewanationswe reqUi10r our audr(. Responsibilities of trustees s explained morefvlty in the truslees. responIltIes5ternent. theTrusteesa¥e re5ponsibleforthe preparation of thef]nanci21 staternents which give a true and fair view, and for such internal control as the TTrJstees determine is necessary to enable the prepar8tion of financ1 statements that 4refrÈe from materral mi55tatement. whethe¥ due to fraud or error. In preparlng the financial statements, the Trustee5 are responsible for a55Win8 the Cathedral'$ ability to continue as 4 goin8 concern. di5closin8, as applicable. matters related to eo&nE concern aNJ using the going concern basis of accountin8 unless the Twstees either intend to liquidate the Cathedral orlo cease operaiions. or have no realistic altertIVe but to do so. Auditors. Tesponslbllitie5 torthe au(rrt ol the financial ststernents We have beenapwintedasauditorulldersettion 145of IheOwritiÈskt2011ond rewrt in accordancewith theAd and relevant regulètions made or h0ne effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whethÈrdue to fraud or erTor. and to issue an auditors, report that includes our oinion. Reasonable assurènce is è high level of èssurance but is not a guarantee that an audtt condutted in accordance with ISAS IUKI will always detect a material mi5Statement when it exists. Misstaiements can arise fvom fraud or erTor and are consi<Jered material if. indNidually or in the èggregate. they could reasonably be expected to influence the etorM)mic deoyons ol users taken on the ba515 of these financial 5tolefflents. Irregularities, includinE fraud. Hre instances of rKoMlant@ with laws and regulations. We deggn procedures in line with our responsibilities. outlined aix)ve. to detert material misstatement5 in re5Pttt of irregu13rities, including fraud. The extent to which our proceduTÈS are capable of detectin8 irregularities. inc1LIngtrttud is detailed telow. Our approach lo identifying and 3sses5ingthe risks of merial mi551atement in respert of irre8uLarities, ¢ncludng fraud and non- cornplian¢e with laws and regulations, wasas follows- the engagement partner ensured that the en83gemeTrt team tolledNely the appropriate competerKe, cabilItIeS and skills to identifyor recognise non<omF4iarKewithapplicable laws and ie8ulatiorts. gjch as the Caihedrals Measure 2021 and the critieS Act 2011- we identified the law5 and regulations applicable to the CathedTrl through discLwions with Trustees and other manaEement.' we assessed the extent of comlance wilh the law5 and regulatksrts identified above through makiftg enquirles of management.. and identified laws and regulations were cornmunitèted within the alit team regularfy and the team remained alert to instances of non-compliantethroughout the audtt. We èssessed the susceptibility of the Cathedral's finarKial statements io material misstatement, inrluding obtsining an undÈrstanding of how fraud might occur. by. making enouiries of management as to where they tt)ndered there was susceptibility to fraL#I, their knowledge of actual, suspected and alleBed fraud." and conyderin8the internal contro15 in pla(eto mitigate risk5 of fra and noTrcompliance vAth laws and Te8ulations. 18
The Cathedral Church of St Peter and St Wilfrid in Ripon ST ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 INDEPENDENT AUDITORY REPORT TO THE THvgfEES OF THE CATHEDRAL CHURCH OFFf PETER AND 5T WILFRID IN RIPON To address the risk ol fraud through managernent biasand override of controls, we.. performed an3tr¥tical prdureS as a risk asse55ment tth)I to Hlentify any unusual or Unexpect relatlonship54 tested journal entries to identify unusual ITansartions: tested theoperatinE effectivene550f ktyconirols overkeytransactioncy¢lesyJch asincome. purchases andwages,. aThd reviewed the applicatton of ac¢ountin8 policie5 including the application of caltalIsatIOn of tangible assets. In response to the Tisk of Irreguloritie5 and r)r0mplqre with 14ws aThJ re8ulation& we desiened procedures which Included, but were not limited to.. agreeing financial statement disclosuresto under1n8 suptK)rtingdocumentslion: and enquiringol management aSto artual and potential IttigatKJn and thim& Due to the inherent limltations of an audrt, there is an vnavoidèble risk that we may not have detected some material misstatetnents in the financial 5t8tÈmÈnts. even though WÈ ve properfy pffined and perforrned our audit in accordonce with auditin8 stsndards. For example. as with any audit. tre remained a higher risk of non-detettK)n of irregularities, as thÈke may involve collusion, forgery, intentional omissions. miyepre5entations. or the oveiride of intemal controls. We are not responsible for preventingfraud or noncompliance wrth lawsand Tegulations and cannot be expected to detect all frèud and non-cornpliance with laws and regulations. Afurther description of our respon%bilitiesforthe audit of thefinaficialstatemer¢ts is located on the Financial Reportin8Council's website at.. www.frc.or&uvauditor5responIItIeS. This descriptionform5 Part of our auditors. repDrt. Use of our repryt This report is rnade591elyto thecathedral's Tru#ees asa body. in ac£ordènctrwith Part4 ofthe Charities IAttounts and Reports) Regulation5 2008. Our audit work has bÈen undertaken so that we might State to the Cathedrol's Trustees those matteT5 we ar required tostateto them in èn auditors. report and fo¥ no otherpurp05e. Tothefulle5t extent M)itted by13w, we not accept or assume restK>nsibility to anyo otheTthan thecathedral albd rtsTwstees. 0$ a for ouraudit work, for reporL orfor the opinions we have formed. AMtrOllg Watson Avdit mited Chartered Accountants & StatLrtory Auditor5 Northallerton Date.. 2210712024 Arrnstrong Watson Audit Limited are dglble toact as audiiors in terrnsof se£tion 1212 of the comnieSA£1 2(. 19
The Cathedral Church of St Peter and St Wilfrid in Ripon NN ALRE RT AND ACCOUNTS FOR YEAR EN 1STDE EMBER 2023 STATEME14T OF FINANCIALACTIVIMES Endo4Yment 2023 Total Income and endoWt8fv<m. Donations and leoa¢ies Granis In support of misgon Charge5 and fees arising In the course ol missK)n Tradin9 and fur&irj Invesimen Other Irwne 970.916 430.822 833.29) 378.665 22.025 84502 232,447 183306 2.957 109.610 2W.551 211.895 3.269 232.447 104.633 78.573 Total In¢ome 81427T 1.0943 1.90&850 1,743,379 Expenditure on.. Raising fur Ministry Calhedial precincts upkeep EdLtaiion and ryrtreach 137,231 435.791 271.783 499.155 275.547 409.014 934,946 530.517 26.1)40 825.373 874.093 18.776 23.3TJ Totsl experbthiure 851A25 1.049.152 IJ007 2,166,930 Net IoLrtgoingll In¢omlng resour¢es before iftv¢stmen¢ gal 137,1481 8373 1423.5521 Nèi 9airllbssesl on rweslments 18.557 331.197 449A51 720,717 Net Income lexpenditurel 11&5911 144124 331,197 11,144,269) Gross tran5fev5 btrtw¢¢n lunds 94.479 133.444 Other reGognts8d 981nl(Se81 Gair{lO$stsI ValUat off assels Other 9alM(b)SseSI movement In funds 197.755 457.730 11,144,2691 Re¢oncllTration of fund5: Toi81 funds brouyhlfofvrard 1222.679 3.42O.(K7 9,564.947 10.709.218 Total funds ¢rl8df(*w•r 3.617mO 10,022,678 9.564.947
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 BALANCE SHEET Notes Unrestricted Restrlcted Endowment 2023 Total 2022 Total FIXED ASSETS Investment assets Property Investments Trade mark 1.745.000 112.332 1,377 1,858,709 1.745,000 4.733,838 1,377 6,480,215 1,745.000 4,155,951 1,652 5.902,603 1.074,994 3.546.512 1.074.994 3.546,512 Tangible fixed assets Propety Equipment 2.640,127 2.503 2,642,630 1TI.600 2.817,727 2,503 2,820,230 2,853,006 3,067 2,856.073 io 177.600 Total fixed assets 4,501.339 1.252.594 3,54fj.512 9,300.445 8,758,676 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 28,889 163,317 488,835 681.041 28,889 163,317 726.818 919,024 26,799 110,644 780,497 917,940 166.675 166.675 71.308 71,308 LIABILITIES DUE WITHIN ONE YEAR Creditors 14 184.2 12.501 196.791 111,669 NET CURRENT ASSETS 496.751 154,174 71,308 722,233 806.271 TOTAL ASSETS LESS CURRENT LIABILITIES 4,998.0 1.406.768 3,617,820 10.022.678 9.564.946 TOTAL NET ASSETS 4.998.0 1.406.768 3.617.820 10,022,676 9,564,946 THE FUNDS OF THE CATHEDRAL Unrestricted 21 Restricted 4.998. 4.998,090 1,157,521 16,8791 15.2241 37,434 223.916 2,463,840 863,725 2.255 4.922,202 1,030,639 3,273 3,410 14,912 170,445 2,369,268 786,431 264,368 Fabric - Boy3 Girts - Music & Dram8 - Others Endowment- General - Boys Girls 1.157.521 16.879) 15.224) 37.434 223.916 2.463,840 863.725 290.255 TOTAL CATHEDRAL FUNDS 4,998.090 1.406.768 3,617.820 10.022.678 9,564,947 The 8wounts of Ripon Cathedral were approved by the Chapter and authorised for issue on signed on its behalf by.. May 2024 and n of Ripon Cathedral led.. TnJstee- MrAndrewKKi hingm8n .2210712024 ' 2211J712024 21
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 CASH FLOW STATEMENT Notès 2023 2023 2022 2022 Net cash used in 0ratIng aetivities 169.2371 1545,7861 Cash flows from Investlng actlvltles: Purchase of fixed asset investments Sale of fixed asset investments Interèst received Dividends received Net nIS received Portfolio management charges {3.163.311) 3.034.B82 13,643.2871 4.163,188 1,223 112,604 98,067 44.1831 77.951 97,867 {39,219) Net cash us•d in Investlng act5vltSes 15.558 687,612 change In cash and cash equivalents in the reporttng period {53.6791 141,826 Cash and ¢35h èqulvalents at the beglnnin9 of th• reporting period 780.497 638.671 Cash and cash equivalents at the end ofthe reporting period 726.818 780,497 22
The Cathedral chUh of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE CASH FLOW STATEMENT 2023 2022 a RÈconclllation of net income I nditurè to net cash flow from o ratln actSvities Net income I lexpendlture} for the reporting period (as per the statem8nt of financial activities) Adjusted for.. Depreaation (Gains) I losses on investments & fixed assets Interest ¥eceived Dividends receive(I Net rents received Portfolio management charges Ilncre8$el I decrease in stocks {IncTe8sel I dreas• in debtors Increase I Idecfeasel in ¢reditows 457.730 11.144.269) 36,118 {449.4571 17,3881 177.9511 197,8671 39.219 12,0901 152,6731 85,122 42,038 720,717 11,2231 1112,6041 198,0671 38,313 15,381} 121.182 1106,4921 Net cash providèd by {used In) operatlng actMt5es 169,2371 154S,7861 b Anal Is of cash and cash uivalents Cash in hand Cash al bank Cash on deposit 589,031 137.787 376,157 404.340 Total cash and ¢ash •quivalents 726.818 780,497 Cash equivalents are short-term, highty liquM1 inveshments that are readily convertible to known amounts of cash and that are subject to an insignrficanl risk of ch8nges in valuè.
The Cathedral Churth of St Peter and St Wilfrid in Ripon ANNUAL REPORT ANDACCOUNTS FOR YEAR ENDED 31" DECEMBER 2023 ACC(XJNTING POLICIES Accourbting Politses Statement of complrance The account5 have been prepared in accordance with the Accounting and fteporting Regulationsfor English Anglican Cathedrals 2018. thecharitie55tatemt0f Recommended Practice.. Attountingand Reportingby Charities prerIng their accounts in 3ccordance with the Ftnancial Reportin8 stsndard applicable in the UK and Republic of Ireland IFRS 1021. the Financial Reportlng Stsndard applicable in the United Tr8dOM ond RePUC of Ireland IFRS 1021 and the Charities Act 2011 a5 amended by the Chartties Act 2022. The finantièl statements have been prepared to 81¥ a 'true and f6irf view and have departed from the Charities (accounts and Reports) Regulations 2008 only to the extent Tequired to provide a 'true and fairf wew. This departUTe h?5 involved followingthe Charities SORP IFRS 1021 published on 16 Jufy 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effertive from l April 2(M)S which has since been wsthdrawn. CorbvÈntion The accounts have been prepared under the hi5torital cost convention modified to include investments and investment properties at market value. PTopertieslor Cathedral Lseare valued at existing use value. Basls of preparotiun The charity meetsthe definition of PU1¢ berrt entity under FRS 102. Assets and liaixlities are inf(ialfy recognised at historical cost or transaction value unless otherwise stated inihe relevant accounting Frf)licy note Investments Investments are included at bid price. asvahjed ty Investec We0h Mèna8ement. Fund5 Funds ère spllt btheen endowment. restricted and unresthtted fund& Endowmentfunds are those where there is M po%Erto convert the caixtsl into wKorne. Restricted funds are subjert to specific condttions imp)sed by the donoror by specrfic temis of a trust deed or other le8al measure. untricted fundsare unre51rirted irKomewhich isexpendatAe at the dfjscretn ol the Chapterfor the benefit of the Cathedr81. Furtherdetsils olthefunds cark bÈ found on page42. note 21. Donation5, Grats and Other Voluntary Imtome Don8tions and other voluntary in£ome are recoEni5ed in the stsiement of finarKial ktiwties on a feceivable basis. Grant5 ère credited or charged on an ac£rual's bass Grants related to revenue are Tecogni5ed in Statement of Finoncwl Nrtmties on a systematic bo5is over the periods in whKh the related costs are recognised for which the grant Is intenrt to compensate. Grants for the purpose of giwng immed1eflnanoal suppwt wilh no luture related costs to be incurred are recognis& in the Statement of Financial AttltIeS when thezrant w¢xeeds become receivable. Value Added Tax Chapter are eligible to Te¢over 65% VAT on the Band B scale sa by H M Re¥enue & Customsfor cathedTrL%. NoTrrecoverable VAT is charged to the relevant expenditure. Legades Legacies are recognised on the accrual's ba$ in 50farasthe Chapter were aware of their entitlement to them. Gift5 in Kirtd Gifts In kind Teceived by the thèpter are irKluded inthe statement of fina1¥1 adNilles on the of 3&onable estlmates as to theirvalue. Rt$ receivable on investment properties Rents receivable are inclw5Èd on the accwals boy> 24
The Cathedral Churth of St Peter and St Wilfrid in Ripon ANNUAL REPORT ANO ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES- Con¢inued Investment income Dividends from equity inve5trnents are Included by Teference to the date on which the investments are quoted ex divKSend. Interest on fixed interest securities and otherdeposits is recognised on an accrual's b35iS. Clergyemolument5 The cost of clergystipends. national insurance and pensH)n contributions are included 05 StrItted expenditure in so far as thev are financed by other parties. These costs. which are firn£ed by the Church CoMmisOney5 orthe D40cese, also form part of the restricted income from these y)urres inthe statement of finanrièl attiTrrities. Staff pension xheme It is the policy of the Chapter that all rnembers ol stsff are eliEible to join the Pension Builder 2014 kheme which is part of the Churth of England PensK)n5 Board Church Workers kheme. The scheme iscontributory by the employer and participating employees. Hèritage assels Heritage assets include the cathedral and anollary buildingsand the iiems in the inventory prepared un¢kr sertion 2411) of the Care of Cathedral Measure 2011. No value ha5 en attribuied to ihese a55ets acquired before 31 December 2023. because inlorniation on their historical cost is &vailable. Freehold properties Investrnent properties are included atvaluètKsrs on the baysof open market value 5ubiÈrtto existing tenan¢ies. Property for Cathedral use was valued as at 31$1 Lkcember 2021, the next valuation will be in 2026. (hher properties owned by the Chapter and oCcUed byclerKal and layempw are under the 8uidelioesvalued at existlng Use Value as at April 2016. Equipmeht ExpÈnditure IrKurred since 151 April 2012 on spectfit tangle assets exceedin8E2.rNyJ has been c4pitalised. Other purcha5e5 of equipment have tse char8ed a5 revenue eXFnse& Computer 50ftware is written off on acquisttion. Fully funded items of equipment and irnprovements to The Cathedral are shown in the SOFA along wth the related in¢ome, expenditure in excess of funding is CaptaliSed. Depreciation DeprÈci3tion is provKJEd in order to write off ThDfvtnvemeTht fixed assets whKh have been tapitalised overtheir e5timoted useful live5 4t thefollowin8 rate5'.- Cathedral lurnishings and equipment Office equiprnent Registered trède marks Non-imiestment propert5es 20% pa on reduong balantÈ basis 25% pa on straight line basis IO% pa on straight line ba51$ 2% pa on straight line basis Stocks stocks are ststed at the lower of cost and net realigwe value. No adjustment included for stocks of consumabse ttores including sanctuary supplies and office stationery. Stock isvalued on a-first in. firstouf basi5. Support C05ts The tUre of governance costs ilUded in supports cost are leBal & wolesstonal costs and also subscriptions professlonal registrations. Support tosts are allocated dirÈttty to attivitiesto whith they relate, any supports coststhat are dire£tfy attributableto a£tfvltie53re apwrtioned. The basis ol aprtnmen1 is (kniled in the note
The Cathedral Church of St Peter and St Wilfrid in Ripon 57 ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 DECEMBER 2023 ACCoU1NG POUCIES- ctinUed Consofidation The following entities are administered by Cathedral stsff and their objettives areto supportthe work of the Chapter. They have therefore been consolidaied with the financialsof Chapter of Riwn CathedTrl. Ripon catdrI1 Developmeffl Campaien Ireystered chortty No. 10867601 The Trustees of The Thorpe Prebend House IrÈ8lStered charTty No. 7031331 Ripon Cathedral Mu51t Trust Ire8lStered charit¥ No. IIY9571 26
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 2 INCOME AND ENOOWMENTS Unrestricted Restri End¢)WM1 2023 Total Current tknnalions and 18g8cies Collecti'ons Special collections Donations Visitor donations Tax recoverable VI8r gift aid Grants HLF grant Sustsinabilty grant Legacies Littlethorpe Ripon Cathedral Music Trust Fabric Ripon Catheilr81 Development CampavJn 204,927 20.913 3.178 116.104 17.048 204,927 20,913 73,471 116.104 17.048 34,000 15.576 64.306 7.500 104,471 94,000 6.600 70.293 15.576 3.000 104.471 94.000 212,000 604.246 212,000 970,916 366.670 Unrestrided Restricted Endowment 022 Total Prevlous ar Donations and legacies Collections Special collections Donations Visitor donations Tax reooverable unijergrfi aid Covid funding Sustainabilty grant Friends Ripon Cathedral Music Trust Fabric Ripon Cathedral Devekspment Campatgn 182.862 27.864 182.862 27,864 58,101 111.507 18.581 41.868 63,149 25.0) 71.723 6.6) 49.516 111.507 17.331 1.250 41.868 63,149 25.000 71.723 226,035 485.141 226,035 833,290 348,149 Unrestricted Restricted Endowment 2023 Total Grants in 8UPFK)rt of mission Church Commissioners Diocese Allchurches Trust 377.348 31.449 377,348 31.599 21,875 430.822 150 21.875 22,025 408.797 Prèvious ar Unrestricted Restrlcted Endowment 2022 Total Grants in support of mission Church Commissioners Archbishops Council Diocese Allchurches Tnjst LPWS 319.946 10.176 11.535 319,946 10,176 11.685 25.000 11,858 378,665 150 25.IXK) 11,858 353.515 25,150 27
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 2 INCOME AND ENDOWMENTS- continueil Current ar nrestricted Restricted Endowment 2023 Total Charges and fees arising ir7 Ihe Gourse of misston Facility fees Fees reimbursed fr)rweddings and funerals Educational actiwties 54.043 31.496 54.043 31,496 2,963 88.502 88.502 Prevlous ar Unrestricted Restricted Endowment 2022 Total Charges and fees arisiro in the course of MIOn Facilty fees Fees reimbursed for weddings. funerals and broadcasts Educational activities 55.137 55,137 47.487 6.986 109.610 47.487 6,986 109,610 Current Unrestrictèd Restricted Endowmènt 2023 Total Trading and fundraising activibes Other Cathedral Shop- sales 140.522 91.925 232,447 140,522 91.925 232.447 Unrestricted Restricted Endowment 2022 Totsl Previous ar Tr8ding and fundraising activittes Othèr Cathedral Sh¢)p- sales 17.883 113.358 131,241 75.310 93,193 113,358 206,551 75,310 Current Unrestricted Restricted Endowment 2023 Total Investments Investment properties rents Investments income Interest received on cash deposits 97,867 1.775 4.991 104.633 97.867 77,951 76.176 2,397 78,573 183,206 Previous Unrestrlcted Restricted Endowment 2022 Tot I Investments Investment properties rents Investments income Interest received on cash deposits 73.374 83.843 1,529 158,74fj 73,374 137.298 1,223 211,895 53.455 1306 53.149
The Cathedral Church of St Peter and St Wilfrld in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 2 INCOME AND ENDOWMENTS- Continued Current unrestrict Rèstricted Endowment 2023 Total Other income Workshop facilily fees 2.957 2.957 2,957 2,957 Prevlous ar Unrestricted Restricted Endowment 2022 Total Other income Workshop facility fees 3.369 3.369 3,369 3.369 3 EXPENDITURE Current ar Unrestricted Rèstricted Endowment 2023 Total Raissng funds Gross costs of shop arKI oth$r etiwties ComrnuniGation officer wages Salaries General marketing costs Investment property costs Inv8Stmènt management costs Events Support costs Sustainability costs Cultural Recovery 87.465 87.465 15,971 50,429 99,946 5,322 37.841 12.450 49,580 42.863 7,147 4,014 15.971 50.429 5.322 13,824 12.450 14.878 24.017 34.702 42.863 7.147 271.783 137.231 Unrestricted Restrlcted Endowmènt 2022 Total Previous ar Raising fijnds Gross costs of shop and other 8ctiwties Communication offIr wages Salaries General mathetir¥J costs Investment property costs Investment management costs Bad debt write off Events Sustsinability cosis Suppo)rt costs Cultural Recovery 98.605 98,605 14.551 19.783 97,507 7,384 44,193 50,000 58,898 10,520 46,608 639 448.688 14.551 19,783 94.636 2.871 10,123 50.000 29294 4.776 58,898 10.520 31.228 639 259.549 15.380 184.363 4.T16 29
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 3 EXPENDITURE- Contlnued Current nrtttricted Restricted Endowment 2023 Totsl Ministry Clergy slipends paid by Church Commissioners Clergy working expenses Clergy housing costs Stsrvices and mwc Support costs 1,781 13.970 35.921 352,768 31,351 435.791 154.889 1,905 3.152 266,083 73.126 499.155 156,670 15,875 39,073 618.851 104,477 934.946 Previous ar un$t¢t•d Rèstricted Endowment 2022 Total Ministry Clergy stipends paid by Church Commissioners Clergy working expenses Clergy housing costs Services and rnusi Support costs 148.089 148,089 14,968 42.754 521,349 98,213 825.373 14,968 42.754 2.578 32,408 386,706 224.773 65.805 438,667 Current Unrestricted Restricted Endowment 2023 Totsl Cathedral and precincts upkeep M8jor repairs and restoratiorb Maintenance and interior upkeep Cathedr&l insurance Cathedral light, heat & rates Precincts, secur¢iy and 98rden upkeep Architects and consultants Depreciation Support costs 60.697 44.802 60.697 161,319 50,486 79.873 8.924 16.953 36,118 116,207 530.577 116.517 50.486 20,238 59.635 8.924 16.953 3.200 81,336 275,547 32.918 34,871 255,030 In 2022, Chapter was able to complete several major paIrS and renewals within the cathedrdl inGluding a new fire d818ction and alam system, hi9h level repairs and ¢onb"nued on the Renewed project. In 2023, major repairs slowed down due to the planned sthedule of %w)rks therefor& $howng a fall in the expenditure. 30
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 3 EXPENDITURE - Continued Previous ar UnstriCted Restricted Endowment 2022 Total Cathedral and precinds upkeep Major repaiTS and restoration Maintenance and inteiior upkeep Cathedr81 insurance Cathedral light. heat & rates Precincts, security and garden upkeep Architects and consultants DeplatIOn Cathedral and buildings improvements in the year Support costs 391.463 35,048 10.176 391.463 118.662 42.022 78,806 8,802 17.858 35.279 83,614 31.846 78,806 8.802 17.858 3.2 32.079 18.427 36.047 280,819 53.533 73.194 593.274 71.960 109,241 874.093 Current Unrestrlcted Restricted End<MTmÈnt 2023 Total Education and outreach Educational activf(ies Thorpe Prebend running costs Support costs 16.986 16.986 5.244 1,143 23,373 5,244 3.810 26.040 2.667 2,667 Previous ar Unrestricted Restrlcted Endowment 2022 Totsl Education and outreach Educational actiwties Support costs 11.gV2 1,182 13.164 3.212 2,400 5.612 15.194 3,582 18,776 4 SUPPORT COSTS Raisin funds Cathedral & Precincts u kee Educatlon & outreach 2023 Total Funds Minls Finance Infomation technology Human resourcès & administration Govemance Costs 6.474 18.881 18.825 S.400 49.580 13,643 39.786 39.669 11,379 104,477 15.175 44,253 44,123 12,657 116,208 497 1.451 1,446 416 3.810 35,789 104,371 104,063 29,852 274,075 Included in support costs is audiiors muneratIon of £12,500. The followng support costs. included above. are alIcted to restricte(I funds. Restricted funds 34.703 73.126 81.336 2.666 191.831 34.703 73.126 81.336 2,666 191,831 31
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 4 SUPPORT COSTS- Contlnued Ralsin funds Cathedral & Precincts u kee Education & outrea¢h 2022 Total Funds Mlnl Finance Infomation techrtology Human resources & administralion Governance costs 12.354 33.445 41.529 10.885 98,213 13,741 37.21)0 46.192 12,108 109,241 450 1.220 1,514 397 3,581 32,408 87,737 108,943 28,556 257,644 15.872 19.708 5,166 46.609 Included in support costs is 3JitOrS remuner*1 of£12.500. The followng SUppt costs, induded above. are allocale(I to rBstricted fvnds. Human resources & administration 31228 65.805 73.194 2,400 1n.627 31,228 65.805 73.194 2,400 172.627 Support costs have been directty allocated to 8ctivibes tr) which they relate where po$sible. Support costs that are not directly 8ttributable to an actiwty have to be apkK)rtion8(l over the aclivities, b8S8d ty) the direct costs of the a¢tivities. 5 GROSS TRANSFERS BETWEEN FUNDS 2023 Reallocation of gainsllosses on endowment lunds Unrestricted Restrlcted Endowrntnt 94.479 38,965 1133,444 94,479 38,965 1133.4441 2022 Reallocation of gainsllosses on endowment funds 127.631 1121.2051 16,4261 127.631 1121,205 16.4261 6 INVESTMENT ASSETS- PROPERTY Investment properties comprise.. The Old Deanery Holel, Riw)n. East Wing House. Okl Deanery. Ripon Shop, Minster Road, Ripon White Cottage. Minster Road, Ripon. 24 Htgh Saint AgnegJat$. Ripon 2023 Total 2022 Total Valuation 1st January 2023 Disposals at brought foNArd valuation Gain I Iloss} on revaluations 1.745,0 1,745.000 31s1 December 2023 1,745,otK) 1,745,000 The revaluation of property was completed in 2021 by an independenl RICS regislered valuer. The closing value shown in the financial statements represents the walue given by the independent valuer plus the 2017 gifted addition at insured valuation. The Tnjstees consider that ltrre ha$ been no male11 charoe in walue. up or dovm. sirKe 2021. 32
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 7 INVESTMENT ASSETS- INVESTMENTS Summary Market value 01.01.23 uisitions Realisatlons Nel Realised ain$l losses Unrealised Market value 31.12.23 Unrestricted funds General 97.426 76.976 180.627 10.140 8.417 112,332 Pemianent endowment funds General 2,156,352 Boys Scholarship 766,962 Girts Scholarship 236,147 1,632.871 545.254 184,972 {1,570.4361 1566.5611 1170,2471 54.838 12.845 7.924 173,177 64.450 17.963 2.446,802 822,950 276.759 3.159.461 2.363.097 12.307244) 75,607 255.590 3,546.512 Restricted funds Fabric & M8inlÈnance 899.064 723.238 {647.0111 19.370 80.333 1.074,994 Totals 4.155.951 3.163.311 13.034.882) 105,117 344.340 4,733,838 Anal>sls Unrnstrlcted Rèstrlcted Endowment 2023 Totsl 2022 Total Fixed Interest 13.896 138.548 454.811 607,255 953,017 United Kin9dom Equ¢ttes 23.488 226.929 749.110 999,527 346,824 Overseas Equities 74.948 709.517 2.332.591 3.117,056 2,846,110 National Savings Income Bor 10.000 10,000 Totsls 112.332 1.074.994 3.546,512 4.733,838 4,155,951 A small portfolio of investmerts is held in trust for the maintenance and upkeep of graves, these are not Separated as designated funds as the cost of separ8tè administration exceeded the income from the investments. These investments are included vthin the generdl fvnd. Global equity and bond markets had a very good year in 2023. The hostilities in 2022 %%£re now fully discounted and investors had retumed in volume to the markets. I commenteil in last yearfs account that our txjrtfolios had already COvered Substantiall. by Ihe end of June 2023 and this recovery ¢ontinued throughout the rest of the year. The totsl gain in v8lue in the year was just under £450.000. This positiv8 perfomiance has continueil in the first half of 2024 as well. As belore. our Investment Cornmittee ontinues to meet regularfy with the fund manwJer, Ratht*)nes (which took over Investec last yearl in order to direct and monitor risk choice. asset allocation and fvnd pertomiance. 33
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 2023 Total 2022 Total INVESTMENT ASSETS - TRADE MARK Registered trade mark$ & others Cost At 151 January 2023 Addits'ons At 31st December 2023 Depreciation At 151 January 2023 Charge for year At 31st Decembtrr 2023 5,745 5,745 5.745 5.745 4,093 275 4,368 3,818 275 4,093 Book value al 31st Decèmber 2023 1,377 1,652 9 TANGIBLE FIXED ASSETS- PROPERT The freehold properties owned by The Chaptèr at 31st Decemter 2023 are summarised as follows'.- The Cathedral Church ofst Peter and St Wiwrid elher Ihe ChUrChrd. grounds, hall, offices. old burial ground and small p8r¢Èls of tand. The tradiThJ activiknes of the Cathedral shop are conducled wthin the Cathedral. Not valued Not valued Residential properties oecupied by clerical arxl lay employees Net book value as at 1st January 2023 Depreciation chae for year UnaliSed gain lllossl on revaluation Minster House, Ripon St. Peter's House. Ripon st. Wilfrid's House, Ripon Coach House Garage 2,486.446 132,0791 2.515.865 {29.4391 as 8t 31st December 2023 2.454.367 2,486,446 Properties used for aciiwties Office accommodation and WrS(Wyr<l. Liberty Courthouse. Minster Road. Ripon arKI knxmttshothrd. Minster Road. Ripon Net book v8luÈ as at 1st January 2023 Depfeciation charge for year Vnrealised gain Iltossl on maluation as e131 st December 2023 366,560 13.2001 372.400 15.8401 363.360 366,560 The maluation of propety was completed in 2021 by an independent RICS registered valuer. The closing value shown in the finanual stslements presents the value gNen by the independent valuer less depreciation. Net book valu8 as at 1st JanLtary 2023 Depreciation charge for ar Unre81ised gain Illossl on revaluation 2,853,006 135.2791 2.888,285 135.2791 as at 31st December 2023 2,817.727 2,853.006
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS Cathedral Furnishin andE ui Office ui 2023 Total 2022 Total 10 TANGIBLE FIXED ASSETS- EQUIPMENT Cost At 1 st January 2023 Additions Disposals 79.435 15.686 95,121 95.121 At 31st December 2023 79.435 15.686 95,121 95,121 Depreciation At 1st January 2023 Charge for year Elimination on disposal 76.368 15.686 92.054 564 91.441 613 Al 31st December 2023 76,932 15.686 92.618 92,054 Book valu$ at 31st December 2023 2.503 2.503 3,067 Allocation of d8pre(iation". Costs of generating Expenditure on mission Ministry Upkeep 613 564 613 11 HERITAGE ASSETS As stsled in note 9. no value has been placed on ihe Cathedral arrillary buifdiThJs and the ilems in the inventory prepared uniler section 24111 of the Care of Cathedrals measu 2011. The Care of Cathedrals Measure 2011 requires C8th¢drals to keep an inventory of all items considere(I to be of 8rchile¢tural. archaeologtcal, artistic or historic inleresl in the rKJssession of the cathedral church. No additions lo the inventory in the last four years have met the definition of the heritage asset and there have been no transactions involving heritage assets in the same time peri(Kl. 12 STOCKS Cathedral Shop 28.889 26,799 28,889 26.799 13 DEBTORS Trade debtors Other debtors Prepayments Accrued dividends and interesl VAT refiJnd$ 30.069 118.990 3.396 5,544 5,316 28,117 50,810 12.565 3.732 15.420 163,317 110.644 35
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 2023 Total 2022 Total 14 CREDITORS- AMOUNTS FALLING DUE wrrHIN ONE YEAR Trade creditors Sundry creditors & accruals 64,0(NJ 132.791 46,016 65,653 1.791 111.669 15 STAFF COSTS Total number of employees ofthe Cathedral {induding the Dean and Canons) Full time Part time No. 15 29 16 28 Totsl 44 Full time equivalent 23 25 Anatysis of siaff costs Raising funds Shop Ministry Cathedral and prerArth upkeep Education Administrative services (reallocated as SUPFMJrt costs) 151.755 40,619 441,706 145,148 14.228 205.586 118.827 37.281 410,589 135,868 13,523 172.626 999.042 888,714 S8larie$ and stipends Employers national insurance Employers pension contributions 873.884 65,817 59,340 761,484 59,110 68,120 999,041 888,714 No. No. Number of employees receiwng in excess of W,IK)O p. . 36
The Cathedral chUh of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 2023 Total 2022 Total 16 REMUNERATION OF MEMBERS OF THE CHAPTER The total remuneration including employers nation81 insura1e and pènsion contribLrtions for members of the Chapter 156,670 146,245 The $8lary costs ofthe Dean and Residentiary Canons continue to be met by the chUh Commissioners. The Diocese funds one additional (>non. An interim canon is being met by other grants. The were no additional Salary payments made by thtr Chapterto either dergy or lay members of the Chapter. 17 EXPENSES OF MEMBERS OF THE CHAvfER Mileage allowances, entertaining, hospitality and expenses reimbuwd 3.245 4.851 No. No. Members of the Chapter reimbUeo duvir Ihe year 18 PENSION SCHEMES The clergy are entiued to beneffts under a defined benefits pension schem8 wlh the Church of EThJland Pension Scheme administered by The Church of England Pensions Board. No contribubons are payable into the scheme by the clergy but contributions a made into it for Ihem by th8 Churth Commissioners or the Diocese. Employers ¢ontrrbulions 21,533 32,602 bl Ripon Cathedral participates in the Pensii)n Builder Scheme and the in the Defined Benefits Scheme sections of the Church Workers Pension Fund ICWPFI for lay staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes sepaTrtety from ihose ofthe employer and the other participating employers. The CWPF has a section known at the Defined Benefits Scheme. a deferreil annuty section known as the Pension Builder Classic and 8 cash balance section kn(yO as Pension Builder 2014. bi) Pension Bullder Scheme The Pension Builder Scheme of the CWPF is made up of sections. Pension Builder Cla$$ic and Pension Builder 2014, both of which are classed as defined benefft hemès. Pension Builder Classic provide$ 8 pension for members for payTrent from retirement. accumulated from contributions paid and converted into a deferred annuty during employment based on lemis set and reviewed by the Church of England Pensions Board from tiffle tr) time. Bonuses may also be declared. depending upon the investment relums and other factors. Pension Builder 2014 is a cash balance scheme that pwomdes a lump sum that members use lo prowide benefits at retirement. Pension contributions are recorded in an aw)unt for each member. This account may have bonuses addèd by the Board before retirement. The bonuses depend on investment e4)erien and other fathrs. There is no requirement lor the Board to grant any bonuses. The account. plus any tK)nuses dedad, is payable from mèmbers. Norm81 Pension Age. 37
The Cathedral Church of St Peter and St Wilfrid ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 ST DECEMBER 2023 NOTES TO THE ACCOUNTS 18 PENSION SCHEMES -continued Pénsion Builder Schem•- continued There is no sub-division of assets between employer5 in ea¢h sectton of the Pension Burlder Scheme. The s¢heme is considered to be a multi*mployer scheme as des¢ribed in Seclion 28 01 FRS 102. This is because it is not possible to attribule the Pension Builder Scheme's assets and liabilities to specific employefs and that ¢ontribut¢ons are a¢¢ounted for as if Ihe Scheme Ere a defined contribulion scheme. The pensions costs charged to the SOFA in the year are ¢ontributions payable. A valuation ofthe Pension Builder Scheme is accnjed out once every three years. The rnost iecent was carried out as at 31 December 2016. A waluation as al 31 December 2020 was under dY as al 31 December 2021. For the Pension Builder 2014 section. the valuation revealed a surplus of £1.Bm on the oThJoing a&sumplions used. There is no requirement for defrt payments al th8 current time. Dèfined Benefrts Sch•me The Defined Benefits Scheme IDBSI section ofthe CWPF wovM1es benefits for lay staff based on final pensionable salaries. For funding purposes. the DBS is (Iwide(l into sutrwls in respect of each partiapating employer as well as a further sub-pool. known as the Life Risk Pwl. The Lile Risk Pool exists lo share certain risks befven employers, including those relating to mortality and p)st4etirement investment retums. The division of the DBS into SUpoOlS is notional and is for the purrK)se of Ca1lIating onwiThJ contributions. They do not alter the fact that the assets of the DBS are hetd as a single Injst fund out of which all the benefits are to be provideil. From time to time, a nobonal premium is transfer from the 8mpksye¥s' SUpOolS to the Lrf8 Risk Pool and all pensions and death beneffts are paid from the Lrfe Risk Pool. 11 is not possible to attribute the scheme's assets and Ivdbilibes to specific employers. since each employer. through the Life Risk Pool, is expose(I to actuarial risks associated vth the currenl and fOrnr emplows of other entities participating in the DBS. The scheme is considered to be a multiemployer scheme as described in Section 28 of FRS 102 and as such contributions are accounted for as rfthe Scheme were a defined contribution scheme. The pensions costs charged to the SOFA Fn the year contribub"on$ are payable towards bsnefits and expenses accrved in that yèar, plus any impact of defi¢it contributions. If. following an actuarial valuation of the Life Risk Pool. there is a surplus or deficit in the pool and the Actuary so recommends, furthèr transfers may be made from the Ltfe Risk Pool to the empk)yers' sutrpools, or woe versa. The amounts to be 1ranSfèrd land their allocation between the suwoolsl wll be settled by the Church of England Pension Board on the adwce of the Actuary. A valuation ofthe DBS is carried out once every lhe years. the most recent haviro been carri8d out as at 31st December 201fj. The overall def1t in the DBS was £26.2m. Following the valvation. the Employer has enlere(l into an agreement vrith the Churd) Workers Pension Fund to repay its share of the deficit over the next seven years. 2023 Total 2022 Total DBS Employer contributions (including 8dministration fees) 4.056 Pension Builder 2014 Employer contributions 37.807 33.703 Totsl 59.340 66,766 No. No. Active membe Defined Benefft Scheme Pension Builder 2014 28 27 OeferTed members Defined Benefft Scheme Pension Builder 2014 10 10 38
The Cathedral Church of St Peter and St Wilfrid in Rlpon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 2023 Total 2022 Total 19 RELATED PARTY TRANSACTIONS THORPE PREBEND HOUSE TRUST The Chapter ss the trustee of Thorpe Prebend House. 8 separate tharitable trusl. The Chapter Èdminister the charity and it has not been possible to quantify the cost of the a(Iministrative seNces prowded at no cost to this Charity during the year. Interest free loans havè been made by Chapter to Thorpe Prebend House since 2001. The followng items have been eliminated on consolidation. Resotjrces expended.. Rental. upkeep elc 3.024 3.024 bl RIPON CATHEDRAL DEVELOPMENT TRUST IRCDTI This trust vras constiltrted under a deed dated 10th April 2001 and is a separate wistered charity. The annual income is to be applied for charitable purposes either connected wth Ripon Cathedral or at the Twstees discretion. Thè power of appointment of new Twste$s is vested in the Chapter and the Chapter ha$ indemnified the TrvsÉees against liabilities arising from third party daims. The following items have been elirnirted on consolidat. Incoming resources.. Grants Office rent Facility fees 223.000 321,000 3,024 3.327 226,327 324.024 THE RIPON CATHEDRAL MUSIC TRUST This Irust was cor*stituled under a declaration of trust dated 11th October 2013 and is a separdte registered charity. The annual income is to be applied for the principal objectives of the charity. These are lor PLtblic benefit.. to promote and advance the e(Jucation of the public in the art ol music. paCUlaY {bul not excluwvetyl at or in connection with Ripon Caihedral; lo promote and advance the Chrislian religion and public worship connected wth it Ihrough the support of music at or in connection wth Ripon Cathedral and also lo fvrthèr suth charitable pvrpos8s relating to Ripon Cathedral as the Trustees in their absolute discrelion think fiL The of aprK)intrnent of new TnJ8tees is vested in the Chapter. The followng items have been eliminated on cS011daI10n. Incomin9 resources.. Contribution to office costs and bookkeeping Grants 2,500 69,223 94.000 94,000 71,723 39
The Cathedral Church of St Peter and St Wilfrid in Ripon ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31ST DECEMBER 2023 NOTES TO THE ACCOUNTS 20 COMMITMENTS There were no revenue commilments at the end of the fifiala1 year for vthich no provisvjn has been made. 21 FUNDS G•neral Fund:. The Endowment fund is held by The Chapter of Ripon Cathedral ere irwme derive(I from thè investments is used for the general purposes of the Catheilr81. The unrestricted income funds are expendable al the discrelion of Chapter in furtherance ofthe ministry of the Cathedral. Fabrlc Fund:. The Fabric Mainlenance fund is 8 restrided fund held by The Chapter of Ripon Cathedral specifically for Ihe maintenancè and upkeep of the fabric of the Cathedral. No part of the Fabric Maintenance Fund is a pemianent endovrnent. Music & Drama Fund:. The Music and Drama fund is a restricted fund held by The Chapter of Ripon Cathedral specifi¢AIty for the music and thoir activities. Girls Fund'.- The Girfs Choir Scholarships Fund was established on 11th January 21KKI as an en(lowment fund by the transfer from the Choir School Scholarship Fund (Boys) of monies received by The Chapter from a legacy from the Estate ol Miss C.E Hawthomth%Yaile Ileceased amounting to £135,000. The legacy was bequeathed for th$ provisron ol scholarships for the choir school of the Cathedral and was originally included within the Choir School Scholarship Fund. It was transferred wilh the agreement of the executors of the estate in order to open Girfs Choir Scholarships Fund. The income arising from the fund is regarded as available tOWdr(Is th8 financirKJ of the 9irfs choristers payments and restricted to that and 8ssouated costs onty. Boys Fund".- The Choir Scholarship Fund is administered in a tnjstee cap8Ctty by Thè Chapter of Ripon Cathedrdl for th8 purpose of providing on a continuing boy chorisler payments are pasd at the end ofea¢h temi.