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2025-12-31-accounts

Charity Registration Number: 1207820

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

KNOWN AS

SHEFFIELD CATHEDRAL CHAPTER

ANNUAL REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

CONTENTS

Page
Reference and administrative information 2 - 3
Chapter’s annual report 4 - 18
Independent auditor’s report 19 – 21
Consolidated statement of financial activities 22
Consolidated balance sheet 23 – 24
Chapter balance sheet 25 – 26
Consolidated statement of cash flows 27 – 28
Notes to the accounts 29 – 53

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

REFERENCE AND ADMINISTRATIVE INFORMATION

Address

The Cathedral Church of St Peter and St Paul Church Street Sheffield S1 1HA

Cathedral Chapter, Cathedral Officers and Council

Members of the Cathedral Chapter

The Very Revd Abigail Thompson, Dean The Revd Canon Justin Dodd, Canon Missioner Mr Neil Riley, Senior Non-Executive Member (Appointed by the Bishop) Canon John Biggin (Appointed by the Bishop) (Resigned September 2025) Mrs Angela Rees (Churchwarden, elected by congregation) Mrs Sally Holding (Churchwarden, elected by congregation) Mrs Pam Liversidge, DL, OBE (Appointed by the Bishop) The Revd Canon Julie Upton (Appointed by the Bishop) The Revd Canon Lucy Sablan (Appointed December 2025)

Minor Canon

The Revd Daniel Wyman, Minor Canon Precentor

Curates

The Revd Emily McDonald

Honorary Minor Canons

The Revd Captain Ian Maher, CA The Revd Dr Casey Strine

Honorary Cathedral Evangelist

Captain Michael Collyer, CA

Honorary Cathedral Readers

Professor Peter Ashworth Ms Eunice Coates

Cathedral Wardens

Mrs Angela Rees (Elected at APCM) Mrs Sally Holding (Elected at APCM)

Honorary Treasurer:

Canon John Biggin (resigned September 2025) Jonathan McMahon (appointed Sept 2025, resigned Nov 2025) Neil Riley SNEM (Interim from November 2025) Ashley Ellis (appointed April 2026)

Chief Operating Officer:

Mr Jason Carr

Architect:

Mr Clive England BA (Hons), DipArch, RIBA, Thomas Ford & Partners

Archaeologist:

Ms Liz Humble, MCIfA, IHBC

Director of Music / Master of the Music: Mr Thomas Daggett

Cathedral Safeguarding Advisor:

Ms Sian Checkley ( Diocesan Safeguarding Advisor )

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SHEFFIELD CATHEDRAL CHAPTER

REFERENCE AND ADMINISTRATIVE INFORMATION - Continued

Members of the Fabric Advisory Committee during 2025:

Mr Michael Hannon (Chair) Professor John Chilton Mr Graham Williams The Right Revd Dr Timothy Ellis Mr Richard Taylor Ms Emily Green Mrs Emma Paragreen Bankers : Barclays Bank 2-12 Pinstone Street Sheffield S1 2HN Auditors: Sumer Auditco Limited Albert Works Sidney Street Sheffield S1 4RG Fund Managers: CCLA Investment Management Ltd 80 Cheapside London EC2V 6DZ

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT

Structure, governance, and management

Governing Statutes

The Cathedral is governed by the Constitution and Statutes for Sheffield Cathedral which came into effect on 12th January 2024 and were drawn up under the Cathedrals Measure 2021. Under the new Cathedrals Measure, the Cathedral also became a registered Charity in April 2024 and is now co-regulated by the Church Commissioners and by the Charity Commission. Chapter members are now also Charity Trustees and a new Nominations Committee has been formed to help shape the membership of Chapter and the other committees of Chapter.

The Cathedral and the Diocese of Sheffield

The Cathedral Church of St Peter and St Paul in Sheffield is the mother church of the Diocese of Sheffield and the seat of the Bishop of Sheffield. It is a centre of worship and mission for the Diocese of Sheffield, and the Parish Church of the City of Sheffield.

The Cathedral Chapter

Chapter is formally the Board of Trustees. It remains the role of the Chapter to ensure that the Cathedral is an effective centre of worship and mission for the Diocese of Sheffield. The Chapter remains the legal body responsible for the administration and governance of the Cathedral.

The Nominations Committee is the lead body for appointments of non-executive members to Chapter and its committees. New Chapter members are given copies of the Cathedrals Measure, the Care of Cathedrals Measure, the Cathedral Constitution and Statutes, and the Strategic Vision and associated documents. In addition, there is a national training course for new Chapter members delivered through the Association of English Cathedrals (AEC), and all new members are encouraged and supported to attend the course.

The Bishop, as Visitor, may give directions to the Chapter, the holder of any office, or to any person employed by the Cathedral which will, in his opinion, better serve the observance of the Constitution and Statutes.

The College of Canons continue to receive the annual report and audited accounts of the Cathedral, elect the Diocesan Bishop, and discuss any matters concerning the Cathedral, as may be raised by any of its members.

The Chapter met 9 times during 2025 including an Away Day. The APCM took place on 11 May 2025.

The Cathedral Chapter is very grateful for the time, effort and support given by all those who serve voluntarily on its statutory bodies, and for all those who so generously support its work and mission, in particular the Church Burgesses Trust and Law Clerk to the Trust, Mr Ian Potter.

Staff

Chapter would like to record its thanks to all members of staff at the Cathedral for their continued hard work and dedication to the Cathedral. We would also like to record our thanks to the members of the team who have moved on in 2025.

Worship

By Statute the Cathedral celebrates the offices of Morning and Evening Prayer and offers the Eucharist each day.

During Holy Week - The normal Holy Week pattern of services were held.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Congregational Life – Deans Report

2025 was a year when some of the hopes and dreams expressed in our strategy began to take shape and become reality. There was a palpable sense of a place growing in confidence and a team inhabiting the key strands of our vision:

Collaboration and co-creation are increasingly evident within our staff and volunteer team alongside a growing ability to develop partnerships across the city and region and take our place as a key partner within a city that is rediscovering her worth in the global economy.

This annual report reflects the development of the team at Sheffield Cathedral with new contributions from members of staff across the organisation, all finding new ways of working together to support Sheffield Cathedral in our ambition to truly be a place for all people.

In year one of our 2025-2030 strategy we pinpointed the following as being ‘landmarks of celebration and hope’ – indicators that the vision we share is being lived out in our community:

These have all happened as hoped for but provide only a small snapshot of the activity and joy evident in all aspects of Cathedral life. The 1554 café, led by Ruth Maher-Heslip, celebrated its 10[th] anniversary and continues to echo with the hum of conversation and warmth, providing a place of hospitality and welcome, a venue for informal business meetings and cake with friends.

The commissioned Pete McKee nativity painting attracted thousands of visitors to the Cathedral and alongside the Light Up Sheffield spectacular which brought us into partnership with Sheffield City Council, Sheffield BID and The Art House, made us one of the top 5 trending marketing events in the country thanks to the remarkable expertise of our Marketing Manager, Jasmine Givnan.

The education department at the Cathedral has a carefully planned programme of events for school groups during termtime and families during school holidays. There has been skilful and energetic work in lifting our offering to something that is professional, fun and aligned with key curriculum requirements in schools across the region. Charlotte Roberts, our Schools Engagement Officer has provided fantastic energy within our team and has demonstrated incredible collaborative skills as she has worked alongside the Music Department in delivering sessions to schools and with our Mission Team in reimagining our Thursday toddler music offering – Little Lanterns. A highlight for me is the incredible Glow Quest laid on during the Light Show – and especially the encounter of hundreds of young people and their families stumbling into the candlelit Cathedral as Evensong took place. One child was overheard saying to her Mum as she stood watching the Cathedral choir sing ‘are they real angels?’

Denise Lawrenson is still relatively new in post as our Visitor Experience Coordinator, but she has quickly grasped the need to develop our skills in encouraging visitor giving as well as ensuring that our incredible and dedicated team of volunteers are loved and nurtured and given proper training for the important work that they do.

Tim Renshaw, CEO of the Archer Project continues to Chair our Nominations Committee ensuring that our Chapter and wider Cathedral governance attracts a broad range of people with the faith and skills needed to support and oversee all areas of our work. The launch of the Saturday Project with volunteers from the Cathedral congregation was led by our Cathedral Curate, Emily McDonald and provides a gentle space for people to meet and talk outside of the usual hustle and bustle of the Archer Project as it is Monday to Friday.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Congregational Life – Deans Report continued

The Cathedral continues to support the Archer Project both practically and through various fundraising endeavours, including in March 2025 a concert curated by the Cathedral’s Director of Music and the Schools Singing Programme, Tom Daggett: A Miners’ Musical Celebration featuring the Cwmdare and Pelenna Valley Male Voice Choirs with Dodworth Colliery Band and in October the first Dean’s Cabaret which together raised thousands of pounds for the Project.

2025 was a year to look back and see how far we have travelled. On my first Sunday at Sheffield Cathedral, at the tail end of Covid and a period of sadness and turmoil, the Cathedral congregation numbered 70 people with no children present at all. The idea of Sheffield Cathedral resourcing churches across the region through the Schools Singing Programme and the development of Choir Churches in schools as new worshipping communities as well as the dream of a new missional community of St Paulinus gathered in daily prayer, championing and embodying the work of Citizens UK and living alongside and exploring sacramental renewal in parishes across the Diocese of Sheffield, seemed just that – a distant dream. The whispered prayers, the hopes and the explorations are now beginning to take solid form and gradually this work is gaining momentum and shape. Our Canon Missioner, Justin Dodd and our new Sub Prior of the Community of St Paulinus, Genevieve Langdon have worked hard in the background to research and develop something new that make this work a living reality. Watch this space!

In September 2025 choristers returned to Sheffield Cathedral and the sound of children’s voices (and stampeding feet!) can be heard throughout the week. Our Choral Directors Jonathan Pinto and Caroline Slade have done extraordinary work in schools over the past year. Jonathan continues to lead our Community Choir which gathers each Sunday and James Mitchell supports our worship with remarkable musical expertise both as an organist and a composer. On Sunday mornings we not only have our Little Lights choir of children aged 4-8 singing, but also around 20 new choristers, led with incredible patience and skill by our Director of Music Tom Daggett, gradually growing in confidence and contributing at the very highest professional level to our worship. We now frequently have more than 250 people worshipping on a Sunday morning including several newborn babies, toddlers and children of all ages. Baptisms and Confirmations are frequent, and our annual Easter Vigil Confirmation Service attracts large numbers of people from across the Diocese with many different churches represented.

2026 brings with it some very real financial challenges, and we will need the support of all our friends to see us through this period. I am so fortunate to work alongside such a committed team of people – some have been named in this report, but others have not and nevertheless provide vital support for all that we do.

I know clearly, as the Resurrection of Jesus is proclaimed year upon year at our Easter celebrations, as bells are rung and fireworks shoot from the roof of the Cathedral, that everything about our life and presence at the heart of the city of Sheffield, and with whatever challenges we face, proclaims loudly and joyfully ‘He is Risen!’

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL

THE CHAPTER’S ANNUAL REPORT - Continued

Cathedral Mission and Ministry

Over the past year, Sheffield Cathedral has grown in confidence, joy and number. Through the steady rhythm of daily prayer and Eucharist we have seen a culture of welcome and belonging take root. Around 268 adults and 24 children gather on Sundays, alongside a faithful midweek community. Many more have joined us at key moments notably 853 people attending our Easter services and 1,698 gathering at Christmas. People are not only attending but encountering Christ. There is a growing number exploring faith and coming forward for baptism and confirmation whilst also finding their place within the life of this community. Over the past year, 26 people were baptised and 27 confirmed and there are around 12–15 new enquiries each month. This is not simply growth in numbers but growth in depth: a community learning to live more fully as the Body of Christ.

Over the past year we have made efforts to offer clearer pathways into discipleship and participation. The goal is to foster a more intentional ecology of belonging by providing points of connection from first enquiry through to baptism, confirmation, invitations to serve and support for the development of leaders. Our Young Adults group continues to grow, serving most post-graduate students and young professionals. New leaders are being identified and formed in the group and long-standing members are finding renewed confidence in exploring faith and life together.

The flourishing of discipleship is also finding expression in our deepening partnership with the Archer Project. Last year, our curate Emily McDonald helped to launch a new Saturday provision at the Archer Project. This supports those in recovery from homelessness through practical service, hospitality and shared community. Volunteers take part in this work through a range of roles from preparing food and offering welcome to supporting activities and administration, so that this ministry is rooted in the shared life of the Cathedral. Alongside this, we have strengthened our Day Chaplaincy team, training and recruiting 4 additional chaplains, with 2 more currently being onboarded, to enhance our capacity to offer daily pastoral support and a consistent ministry of presence to those who visit the Cathedral. This pastoral presence is also expressed through initiatives such as the Chatter Group, which meets every Wednesday afternoon in the Cathedral and offers a simple but important space of connection, community and hospitality for those who attend.

One of the most hopeful signs of spiritual vitality is the growth of our work with families and children. Through initiatives such as, the Little Lights Choir, Little Lanterns and Diddy Disciples, the Cathedral is increasingly being experienced as a place of joy and gentle invitation for the young families on the periphery of faith. Little Lanterns now regularly welcomes around 20 children per session cultivating a consistent and trusted space of connection. There are exciting plans to develop our Thursday offering to include worship. We look forward to seeing these plans come to fruition in the coming year.

Deepening worship. Growing discipleship. Expanding work with families. A renewed commitment to serving the most vulnerable. All hopeful signs that this cathedral community is slowly but surely being formed into what we believe God is calling us to be: a confident, joyful, and growing mother church in the heart of Sheffield.

Community of St Paulinus

In 2025, the Diocese received substantial funding for mission from the Strategic Mission and Ministry Investment Board (SMMIB). As part of this, the Cathedral received ring-fenced funding to plant new congregations and to develop its role as a resource to parishes across the Diocese—what is often described as a ‘resourcing church’. As the mother church and seat of mission for the Bishop, this is already deeply rooted in our identity, but this funding now enables us to extend and deepen that calling. Central to this is the formation of the Community of St Paulinus (CsP), a community of missioners and church planters shaped by our inclusive catholic tradition. While many will be familiar with the language of church planting, we are seeking to do this in a way that is prayerful, sacramental, and attentive to context—grounded in contemplative practice, committed to working alongside clergy in areas of economic deprivation, and engaged in the pursuit of social justice with our neighbours.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Community of St Paulinus continued

Alongside this vision, we have been developing the structures needed to support this work well. Operating within a complex budget and governance framework, we are establishing new ways of working between the Cathedral, Diocese, and our funding partners to ensure strong accountability, clear reporting, and healthy relationships. We have now set up an office near the Cathedral and begun to build the team, including the appointment of a Sub-Prior, Project Manager, Community Organiser, Administrative Assistant, and a Mission and Digital Evangelism Assistant, with further recruitment continuing into the summer.

Encouragingly, early work in building relationships with parish partners is already bearing fruit. We celebrated our first Eucharist in a school in Penistone, building on the excellent foundations of the Schools Singing Programme, and we expect to hold further services. This marked the first ‘Choir Church’ service in the Diocese and signals an important development in how we connect worship, music, and mission. This work in Penistone, in particular, depends on close collaboration with the Cathedral Music Department, ensuring that musical excellence and mission are held together in a coherent and sustainable way. We are also recruiting a Children’s and Music Missioner, who will lead Diddy Disciples, work with our junior choristers, and play a key role in planting new choir churches. This full-time role, partly funded by the Diocesan Centenary Project, will significantly increase the Cathedral’s capacity to offer high-quality children’s ministry as part of this wider missional vision.

Volunteers & Visitor Experience

Since September 2025, a significant amount of groundwork has been carried out to strengthen volunteer engagement, improve internal systems, and prepare for future growth in visitor income and programming.

Following consultation with volunteers, a structured training and communication approach was introduced in late 2025. Volunteers reported greater clarity around their roles and increased confidence when engaging visitors. By prioritising communication and support, the Cathedral has strengthened the foundation of its 159-strong volunteer team, ensuring consistency in visitor welcome and creating a more cohesive volunteer community ready to support future growth initiatives.

Another important area of focus has been reviewing opportunities to increase visitor income. Initial work has explored enhanced tour offers, new visitor engagement activities, and retail-linked experiences that could help create more sustainable income streams. While these are still being developed, the early planning provides a strong basis for growth in 2026.

In 2025 we developed a stained-glass window workshop programme ready to be launched in 2026. This will offer visitors a hands-on heritage experience while also creating an additional source of income. Other workshop ideas currently being developed include wreath making, after-hours tours, corporate tours, and art-based sessions.

A key challenge has been stepping into a new role while working with an established volunteer team and existing ways of working. This has been addressed by taking time to build relationships, holding listening sessions with volunteers, and working closely with clergy and operational teams. This has helped to further understand priorities, areas for improvement and develop the Cathedral’s wider strategic aims.

Overall, 2025 has been a year focused on laying foundations – strengthening structures, improving communication, and preparing for sustainable growth in visitor engagement and income generation.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Music Report

Music at Sheffield is giving children, young people and adults transformational experiences in worship and in the classroom. Our Schools Singing Programme educates 1,000 children each week, with a growing keyboard studies provision. In June, 250 children came together to sing at a lunchtime Eucharist presided by the Archbishop of York, led by our Choral Directors. In April 2025, recruitment planning allowed us to re-launch our Chorister provision. With backing from the Cathedral Music Trust, the Cathedral has appointed a professional chaperone and two singing teachers, Andrew Randall and Elspeth Piggott, who provide weekly lessons for children as part of our ‘Cathedral Voices’ scheme.

In September 2025, children returned to the Cathedral Choir singing on Tuesday, Wednesday, Thursday and Sunday, and the body of children has grown to 20 singing regularly, beginning their life as probationers. The 2023 vision for the renewal of music is being played out in a structured pipeline of opportunities ‘from toddler to teacher’. Twice a week, our Little Lanterns group offers singing provision for babies, toddlers and their families. Each Sunday morning, children from 3 upwards sing in our Little Lights Choir. Primary and secondary-age children have access to our Cathedral Choir membership; and university students are able to gain life skills including in education.

Events

2025 was an outstanding year for the Events Team, marked by both growth and achievement. We saw positive changes within the team, including Richard Crow taking on the role of Events Coordinator and the continued growth of our dedicated volunteer team.

Throughout the year, the Cathedral hosted an impressive range of events, including 53 evening concerts, 4 dinners and receptions, 450 meeting room bookings, 4 exhibitions, and a college graduation ceremony. While some weeks were exceptionally busy, quieter periods allowed the team valuable time to recharge and prepare for upcoming activities.

One of the standout highlights for many of the team was welcoming an orchestra performing with illuminated bows—a first for us and a truly memorable experience that left a lasting impression.

We also established new partnerships with local groups who now use our meeting rooms on a regular monthly basis. Encouragingly, many attendees have gone on to engage with other Cathedral activities, including ‘Chatter’, helping to strengthen our wider community connections.

At the start of the year, the department was set an income target of £104,000. By the end of Q1 alone, we had already generated £47,500, and this strong momentum continued throughout the year. We ultimately exceeded expectations, finishing with a total income of £176,000.

None of this would have been possible without the incredible support of our team. Emma and Richard have been supported by colleagues across the Cathedral, from staff stepping in to make that extra pot of coffee to our wonderful volunteers who welcome visitors, wash glasses, and help move furniture. Their collective effort has been invaluable to our success.

Education

Last year was a fantastic year for school and family engagement. We welcomed 3,237 school children through the Cathedral for organised paid school visits, achieving revenue of £10,775.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Education - continued

A new part of the schools’ programme for 2025 was our Christmas school package, which was designed and released for the first time this year. This proved to be hugely popular, and we had sold out of bookings in the first 48 hours. Across 3 weeks we welcomed 650 children for a lovely morning of Christmas trails, Christmas trees, hot chocolates, Christmas crafts and we finished each visit with the singing of Christmas carols in the Nave with accompaniment from the Director of Music. The Christmas package generated an income of £2,314. It was a great example of how the education and music team can collaborate to produce high quality unique learning experiences for children. Glow Quest generated an income of £1,958 through the sales of approximately 391 tickets sold.

We saw an increase in SEND school visits and secondary visits, which is something that the cathedral will look to develop over the coming year. Within the school bookings we had some repeat school visits and lots of new schools, visiting us for the first time.

We welcomed 2,100 families into the building for our family engagement activities including paid trails, craft workshops and experience events including a teddy zip line and meet a unicorn event. The experience events showed great social media engagement for example - families sending videos of their own teddy zip lines at home after the event. The family engagement events generated an income after costs of £2,053. The popularity of the paid trails has grown with each holiday, and we receive positive feedback after each one. These school holiday activities drive business through the 1,554 shop and café and support from the 1,554 team has meant that most trails have been successfully run from the gift shop, ensuring a consistent customer experience.

We have welcomed around 10 Scout groups for evening visits which has included collaboration with the bell ringing team. We have designed a programme to be launched in 2026 which can be marketed to Scout and Guide groups for paid visits and to further maximise the potential of this audience.

Marketing and Communications

2025 marked a year of significant growth and development for Sheffield Cathedral’s Marketing and Communications activity. One of the most important milestones was the expansion of the team with the recruitment of a Marketing and Content Creator, strengthening our capacity to deliver high-quality digital content, campaigns, and strategic communications.

A major highlight of the year was our involvement in Light Up Sheffield, which generated exceptional levels of digital engagement and citywide awareness. Campaign content achieved over 520,000 views, suggesting that a substantial proportion of Sheffield’s online audience became aware of the event. Public engagement was particularly strong, with more than 10,000 likes, thousands of shares, and significant user-generated content across social media platforms. A single launch post alone generated 3,250 Instagram shares, demonstrating strong peer-to-peer advocacy. Importantly, this awareness translated into action: over 500 post saves indicated strong intent to attend, contributing to 18,000 visits to the Cathedral website linked to the event. Partnerships with Sheffield BID, Light Up Sheffield organisers and Sheffield City Council strengthened strategic communications relationships and contributed to the creation of the City Centre Communications Group, improving coordination between city stakeholders.

Another successful campaign was the Strike A Paws social media competition, delivered in collaboration with 1554 Coffee & Gift Shop and Supertram. This campaign successfully supported both Cathedral and commercial partner objectives. The competition significantly increased digital engagement and awareness: 1554 saw profile visits increase by 580%, follower growth of 26.2%, and reach increase by 382% during the campaign. The Strike A Paws calendar sold out, and the campaign helped shift public perceptions, with many visitors commenting that they had not previously realised that the Cathedral is dog-friendly. The collaboration also strengthened corporate relationships, particularly with Supertram, which have continued beyond the campaign.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Marketing & Communications continued

Across the year, the marketing team has worked closely with departments across the Cathedral to support events, worship, community programmes and fundraising initiatives. This cross-team collaboration has helped encourage more strategic planning and integrated communications across the organisation.

From a digital perspective, performance indicators demonstrate positive progress. Website visits increased by 3% to 186,000 visits in 2025, while email newsletters saw significant improvement following strategic changes introduced in March 2025. Newsletter sends increased by 54.8%, with 7,661 opens (+46%) and 1,663 clicks (+6.5%), demonstrating stronger audience engagement and growth in our communications reach. Our social media has also performed well throughout the year.

A key achievement this year has also been the development of a consistent tone of voice, aligned with the Cathedral’s brand values and personality. This has improved clarity, consistency and professionalism across all communications channels.

Overall, 2025 established a stronger strategic foundation for marketing and communications at Sheffield Cathedral, positioning the team to continue growing audience engagement, partnerships and public awareness in the years ahead.

REVIEW OF ACTIVITIES

General

Income to meet these costs depended upon financial support from several key areas, principally:

The Cathedral business activities for generating funds produced a surplus of £56,077 (2024 surplus £49,294).

Public benefit

Chapter has had regard to the Charity Commission guidance on public benefit, particularly their specialist guidance for faith-based charities. It is Chapter’s clear understanding that the Cathedral’s engagement and service of the whole community abundantly fulfils the criteria.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Fundraising

The Cathedral does not employ professional fundraisers and undertakes fundraising activities directly. The Cathedral received no complaints in respect of fundraising activities during the year and is committed to ensuring that fundraising is undertaken in a manner that protects vulnerable people and reflects the values of the Cathedral.

Pay policy for Senior Leadership Team

The level of pay of the Senior Leadership Team was decided upon on recruitment at Chapter level and is based on the individual’s role and responsibilities.

Trustee remuneration

No trustees received remuneration for their services as trustees during the year. Trustees may be reimbursed for reasonable out ‑ of ‑ pocket expenses incurred in the performance of their duties.

Management of risk

Risk management is fundamental to Chapter’s approach to all its activity. Chapter achieves this through regular review of a risk management framework. Risks are considered and reviewed regularly and Chapter is responsible for ensuring that actions necessary to mitigate these risks are properly carried out. Key risks include:

Chapter works closely with the Cathedral Architect, and the Cathedral Surveyor- appointed by the Church Burgesses Trust, to mitigate building risks.

Sheffield Cathedral Enterprises Ltd

The Cathedral’s wholly owned subsidiary company Sheffield Cathedral Enterprises Ltd operates the 1554 Coffee and Gift Shop, both within the Cathedral. The Company’s trading results are consolidated in the unrestricted funds and are subject to a comment within the financial report for 2025.

2025 marked a significant milestone for 1554 Coffee Shop as it celebrated its tenth year serving the community inside Sheffield Cathedral. Over the last decade, the café has grown into a welcoming space for visitors, staff, volunteers, and the wider community of Sheffield. Throughout the year the Enterprise team delivered successful events, collaborations, and creative retail projects which strengthened 1554’s role within the Cathedral and the city.

In the spring, 1554 began a very exciting collaboration with South Yorkshire Supertram alongside their campaign to become dog friendly. Working together with them we introduced “Strike A Paws”, a competition to find 12 dogs to be the dogs of Sheffield Cathedral in our very first calendar. In August we launched the competition on the forecourt and online and it brought huge engagement and picked 12 awesome dogs to take part in the calendar which launched in the autumn.

During the 2025, the Enterprise was tasked with the design, development, production and sale of exclusive merchandise connected with Sheffield Cathedral and local artist Pete McKee who was commissioned by the Cathedral to do a painting titled “The Nativity”.

The Nativity by Pete McKee was one of the most exciting and challenging projects to date for the enterprise. Fortunately, we already had a great relationship with the local company BIDBI who worked within quite challenging time restraints.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Sheffield Cathedral Enterprises Ltd - continued

Working closely with their creative team we were able to create a much bigger range of merchandise, taking key characters from The Nativity and extending (with permission) the range to be much more than we ever imagined. After a nerve racking few months The Nativity range was possibly one of our biggest successes to date with sales exceeding £9k in just over 3 weeks of December. The range continues to sell but will be relaunched with some new lines including a Nativity jigsaw in December 2026.

The success of the Café is driven by its dedicated staff. The team works hard to provide a welcoming environment for visitors and maintain the high standards expected within the Cathedral setting. A huge surprise for 2025 was the coffee shop winning Best Café/Lite Bite at the 2025 Westside awards, a true testament to the coffee shop team that makes the coffee shop so much more than just a coffee shop.

Our gift shop team has wonderful long-standing volunteers, and we have many new volunteers, all of whom play a huge part in the day-to-day running of our gift shop and who we are hugely grateful too.

The coffee shop continues to play an important role within the Sheffield Cathedral community and in the city. Through partnerships with local organisations and great relationships with our customers, the café supports the working life of the Cathedral and the mission of the cathedral in our city, both the gift shop and coffee shop continue to support local suppliers, makers and businesses.

Overall, 2025 was a highly successful year for 1554 Coffee Shop. The tenth anniversary celebration, creative merchandise collaborations, strong team culture, and continued high standards all demonstrate the café’s important role within Sheffield Cathedral and the local community.

Relationships with other organisations

Cathedral Archer Project (CAP)

Tim Renshaw, BEM, CEO:

The Archer Project is a Sheffield-based charity working with people who are homeless or at risk of homelessness, providing a safe space, practical support and opportunities to move towards more stable and fulfilling lives. In 2025, over 1,200 individuals accessed our services, receiving food, healthcare, and support alongside pathways into accommodation, wellbeing and participation in society.

Our approach is relational and trauma-informed, recognising the complex experiences that lead to homelessness. Alongside crisis support, we create opportunities for people to build confidence, develop skills and contribute through volunteering, activities and supported employment. This enables individuals to make sustainable progress and maintain it over time. The Archer Project also operates as a central hub within Sheffield’s wider homelessness system, working in partnership with health services, housing providers, outreach teams and other specialist organisations. By bringing services together in one place, we reduce barriers to access and help people engage with the support they need. This coordinated approach allows individuals to move more effectively from crisis towards stability, while ensuring that no one has to navigate complex systems alone.

The Saturday Service has been part of the shared vision between the Archer Project and the Cathedral for some time. Cathedral Curate, Emily McDonald worked with Tim Renshaw to recruit volunteers from the congregation and the Project, and this was finally launched in September. It is developing into a small but meaningful community space. With weekly attendance of 3–10 people, it offers a calm, welcoming environment centred on conversation, shared activities and mutual support. Simple activities such as games, puzzles and shared meals have helped foster genuine relationships between guests and volunteers. Importantly, a sense of shared ownership is emerging, with participants contributing to the running of the space. While still in its early stages, the service is already demonstrating the value of low-pressure, community-led provision.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Relationships with other organisations - continued

We are grateful to Sheffield Cathedral for its continued support, particularly in relation to our upcoming rebuild, fundraising efforts, and our shared commitment to the Choir with No Name. This partnership remains central to our work and future development.

FINANCIAL REVIEW

Reserves Policy

The Chapter policy is to maintain sufficient unrestricted reserves to cover 6 months’ normal expenditure. In 2025 we spent £1,378k out of unrestricted funds. On 31 December 2025 free reserves amount to £411k. Free reserves are the unrestricted general fund balance excluding designated funds, revaluation reserve and tangible fixed assets. Based on current levels of unrestricted expenditure, this falls short of the Chapter’s reserves policy target of approximately six months’ expenditure by around £278k. Chapter recognises this position and continues to prioritise income growth, cost control and the development of sustainable funding streams to rebuild reserves over the medium term.

Investment Powers, Policy, and Performance

The Cathedral’s investments are currently managed by CCLA Investment Management Limited. The Chapter’s policy has been to use our investments ethically, in accordance with the expectations for ethical investment set by the General Synod of the Church of England Ethical Investment Advisory Group.

Investments held in our Unrestricted Funds produced an income of £15,923 (2024: £19,546). During the year there was a decrease in value of £5,123 (2024 increase: £2,998).

Investments held in our Endowment Funds produced an income of £4,694 (2024: £4,693). During the year there was a decrease in value of £5,618 (2024 increase: £3,144).

Investments held in our Restricted funds produced an income of £4,344 (2024: £4,243). During the year there was a decrease in value of £6,251 (2024: increase £3,498).

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Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Review of financial performance

Below is detailed a summary of figures for the Cathedral over the last 5 years.

2021 2022 2023 2024 2025
Statement of Financial Activities £’000 £’000 £’000 £’000 £’000
Total income Unrestricted
Funds		 427 629 1,100 1,265 1,281
Restricted Funds 759 928 445 508 600
Endowment 5 4 4 5 5
Total 1,191 1,561 1,549 1,779 1,886
Total expenditure on
generating funds,
mission and
governance		 Unrestricted
Funds		 1,025 1,165 1,194 1,286 1,378
Restricted Funds 173 156 437 517 602
Endowments - - - - 12
Total 1,198 1,321 1,631 1,802 1,991
Net gains / (losses)
on investments		 Unrestricted
Funds		 32 (30) 9 3 (5)
Restricted Funds - 3 10 3 (6)
Endowments 25 (27) 12 3 (6)
Total 57 (53) 31 10 (17)
Net income /
(expenditure) after
transfers between
funds		 Unrestricted
Funds		 11 90 (112) (45) (129)
Restricted Funds 10 119 45 23 20
Endowments 30 (23) 16 8 (13)
Total 51 186 (51) (14) (122)
Other recognised
gain/(losses)		 Unrestricted
Funds		 111 (91) 100 - 105
Restricted Funds - - - - -
Endowments - - - - -
Total 111 (91) 100 - 105
Net increase/
(decrease) in
funds		 Unrestricted
Funds		 122 - (12) (45) (24)
Restricted Funds 10 119 45 23 20
Endowments 30 (23) 16 8 (13)
Total 162 96 49 (14) (17)
2021 2022 2023 2024 2025
Balance Sheet £’000 £’000 £’000 £’000 £’000
Net Assets Unrestricted
Funds		 2,416 2,415 2,403 2,359 2,335
Restricted Funds (22) 97 142 164 184
Endowments 184 162 178 186 173
Total 2,578 2,674 2,723 2,709 2,692

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Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Review of financial performance – continued

The Consolidated Statement of Financial Performance states that the net movement of Cathedral Funds for 2025 is a deficit of £17k, this includes the gain on the value of the properties owned of £105K and the loss on investments of £17k. The net deficit before gains and losses was £105k.

The above net deficit of £105k includes a deficit of £1k from restricted funds and a deficit of £7k from our endowment funds, leaving a deficit of £97k within our unrestricted funds. Our unrestricted funds are used to support our operations within the Cathedral.

The 2025 consolidated forecast for unrestricted funds indicated a deficit of £122k at the year end. As stated above, the actual end of year deficit for unrestricted funds is £97k, slightly higher than where we had forecasted, however, still a satisfactory result based on the 2025 economic climate.

The policy of Chapter is to make progress in the development of additional funds by using the facilities of the Cathedral whilst maintaining the requirement of the Cathedral to be a Place for All People. The net income generated from the activities was £51k compared with the budget of £30k. This result includes income generated from Light up Sheffield, a city-wide Christmas light show. This was our first Christmas collaboration with the city of Sheffield and along with “the Nativity” a new piece of artwork commissioned by Pete McKee we welcomed over 12,000 visitors to the Cathedral for this event.

Congregational and visitor giving is a key element of our income and is monitored very carefully. During the year the congregation and the number of visitors have both significantly increased and the total income achieved was £166k,16% higher than in 2024 and 36% higher than in 2023, showing a continuing trend of increasing our income in this area. Our major donor, The Sheffield Church Burgesses Trust, continued to provide very generous and vital financial support to the Cathedral, in total £527k, despite its own difficulties in generating income. We thank them for their continued and valuable support.

The Church Commissioners have also continued to support the Cathedral. The annual grant was also augmented by sustainable grants of £63k to provide temporary help as we develop our staff team for the future. It should be noted that these sustainable grants have limited time periods, usually of up to three years. We will continue to pursue such sustainable grants as we further develop our Cathedral team.

During the year we continued to repay the loan from the Diocese of Sheffield in the amount of £27,500 plus interest on the outstanding balance of £10k. The balance of the said loan on 31 December 2025 was £215k.

Our wholly owned subsidiary company is Sheffield Cathedral Enterprises Ltd consisting of the 1554 Coffee Shop and the Cathedral shop. The total turnover for the year amounted to £327k, a 4% increase in turnover from 2024. Gross Margins on the sales were 62%, slightly higher than the 59% achieved in 2024, although the cost of direct labour has remained constant at 35%. The final net contribution of the Enterprise business at the end of 2025 was £5k. Our thanks go to the management and staff for their contribution in achieving this result.

The Consolidated total assets of the Cathedral on 31 December 2025 amount to £2,692k compared with £2,709k in 2024. Of this figure £2,319k is held in unrestricted funds. Within this figure, the value of Property and Fixed assets amount to £1,908k leaving £411k to support the operations of the Cathedral. This figure falls short of the policy whereby we are attempting to hold funds representing 50% of normal annual expenditure, We are keen to rectify this during over the next 12 months.

The unrestricted cash balance on 31 December 2025 is £232k of which £16k is designated and cannot be used to support the operations of the Cathedral, leaving a net cash balance of £216k. It should be noted that the cash figure is significantly lower than in 2024, this is due to the cash purchase of a further Cathedral property in April 2025 which will be used to house one of our residentiary canons.

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Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

Review of financial performance - continued

The Chapter Finance Committee met 9 times in 2025 and is routinely attended by the Dean, Chief Operating Officer, Finance manager and the Treasurer. At these meetings financial reports are considered and any variations from budget are noted and any necessary action taken. Such reports are submitted to Chapter.

The Cathedral annual accounts are prepared in accordance with the requirements of Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

The general state of the Cathedral Fabric is considered, by the Cathedral Architect, as being sound. The QI report completed in 2024 did not identify any immediate work over the next 3 years. Routine requirements will be incorporated within the relevant budget.

Statement Confirming Review of Major Risks

The Chapter has carefully assessed the major risks to which the Cathedral is exposed, in particular those related to the operations and finances of the Chapter and is satisfied that systems are in place to mitigate the Cathedral’s exposure to major risks.

The Cathedral Community Resource Centre and the maintenance of the Cathedral Archer Project are monitored closely to ensure that they are sustainable concerns, and that the Cathedral is not exposed to undue risk. A new lease agreement has been signed with the Cathedral Archer Project, which is mutually beneficial, while further reducing the level of risk to the Cathedral.

The Finance Committee monitors all financial and associated risks. The outcomes sought by funding bodies are kept under regular review by the Finance Committee and Senior Management Team, and accurate monitoring evidence is retained for audit by outside agencies if required.

The Strategic Framework is being used to guide Chapter’s priorities and decision-making processes.

The risk register is reviewed regularly by the Senior Management Team and the Chapter. The register is carefully reviewed and updated with particular attention given to emerging risks. Mitigations for each risk area are documented, and Chapter focus their monitoring on the residual risks.

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Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

THE CHAPTER’S ANNUAL REPORT - Continued

The Chapter’s Responsibilities Statement

The Chapter is responsible for preparing Chapter’s Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires Chapter to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, Chapter are required to:

Chapter are responsible for keeping proper accounting records that disclose with reasonable accuracy 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 (Accounts and Reports) Regulations 2008 and the provisions of the Constitution and Statutes. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Signed on behalf of the Cathedral Chapter on 14/05/2026 GMT

Signer ID: XLJTALOPN2...

The Very Reverend Abigail Thompson Dean of Sheffield

Signer ID: GALPLA9MPT...

Neil Riley Senior Non Executive Member of Chapter

Page 18

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SHEFFIELD CATHEDRAL CHAPTER

Opinion

We have audited the financial statements of Cathedral Church Saint Peter and Saint Paul in Sheffield (the ‘parent charity’) and its subsidiaries (‘the group’) for the year ended 31 December 2025, which comprise the consolidated statement of financial activities, the consolidated balance sheet, the Chapter balance sheet, the consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Chapter’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Chapter with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Chapter's annual report, other than the financial statements and our auditor’s report thereon. The Chapter are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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_

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

INDEPENDENT AUDITOR’S REPORT - Continued TO THE MEMBERS OF SHEFFIELD CATHEDRAL CHAPTER

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Chapter

As explained more fully in the Chapter’s responsibilities statement, the Chapter are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Chapter determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Chapter are responsible for assessing the group and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Chapter either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 1513 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

INDEPENDENT AUDITOR’S REPORT - Continued TO THE MEMBERS OF SHEFFIELD CATHEDRAL CHAPTER

_

We assessed the susceptibility of the group and parent charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by:

To address the risks of fraud through management bias and override controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to Chapter’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to members of Chapter those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the members of Chapter as body, for our audit work, for this report, or for the opinions we have formed.

Nicola O’Sullivan (Senior statutory auditor) Signer ID: BIOP9B50X8...

for and on behalf of

Sumer Auditco Limited

Statutory Auditor

Albert Works Sidney Street Sheffield S1 4RG Date: 15/05/2026 GMT

Sumer Auditco Limited were appointed as auditor to the Chapter following BHP LLP becoming part of the Sumer Group on 31 December 2025, which required a change in audit firm to comply with applicable regulatory requirements. Sumer Auditco Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2025


Notes
Income and endowments from:
(3)
Donations and legacies
Grants in support of ministry
Charges and fees arising
in the course of mission
Trading and fundraising
Investments
Other incoming resources
Total income
Expenditure on:
(4)
Raising funds
Ministry
Loss on property disposal
All other ministry
Education and outreach
Cathedral and precincts upkeep
Expenditure
(5)
Net (expenditure)
before investment (losses)/gains
Net (losses)/gains on investments (7)
Net(expenditure)
Transfers between funds
(14b)
Other recognised (losses)/gains
Non investment property revaluation (8)
Net movement in funds

Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
165,878
473,594
113,954
503,643
15,923
8,307
1,281,299
447,567
-
508,721
29,499
392,221
1,378,008
(96,709)
(5,123)
(101,832)
(27,500)
(129,332)
105,000
(24,332)
2,358,708
2,334,376		 Restricted
funds
£
10,700
584,970
207
-
4,344
-
600,221
-
-
405,809
14,923
181,029
601,761
(1,540)
(6,251)
(7,791)
27,500

19,709
-
19,709
164,350
184,059		 Endowment
funds
£
-
-
-
-
4,694
-
4,694
-
-
-
11,681
-
11,681
(6,987)
(5,618)
(12,605)
-
(12,605)
-
(12,605)
185,996
173,391		 2025
Total
funds
£
176,578
1,058,564
114,161
503,643
24,961
8,307
1,886,214
447,567
-
914,530
56,103
573,250
1,991,450
(105,236)
(16,992)
(122,228)
-
(122,228)
105,000
(17,228)
2,709,054
2,691,826		 2024
Total
funds
£
214,224
921,181
94,003
521,016
28,482
-
1,778,906
471,722
10,000
766,855
40,132
514,137
1,802,846
(23,940)
9,640
(14,300)
-

(14,300)
-
(14,300)
2,723,354
2,709,054

The Cathedral has neither discontinued any of its operations nor acquired new ones.

The statement of financial activities includes all gains and losses recognised in the year.

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2025


Notes
Fixed assets
Investment assets:
Investments
(7)
Tangible fixed assets:
Non investment property
(8)
Equipment and plant
(9)
Total fixed assets
Current assets
Stock
Debtors
(10)
Cash at bank and in hand
(11)
Total current assets
Liabilities due within one year
Creditors
(12)
Net current assets

Total assets less current liabilities
Liabilities due after one year
Loans
(13)
Total net assets
The funds of the Cathedral
(14)
General fund
Designated funds
- Music fund
- Deanery fund
- Houses
Chester Lecture
Music endowments
Cathedral Hall
Church Burgesses Trust
Cathedral Development Project
Cathedral Gateway Project
Yorks & Lancs Regiment fund
Choir Tour Fund
Cathedral Voices
Choral Tuition
William Rowley Charity
Sam Hiller Memorial fund
Organ fund
Community Covenant
Friends of Sheffield Cathedral
David Hepher Painting Restoration
HMS Sheffield Flag
Tony Elwis Legacy
Benefact Trust
Ministry Experience Scheme
Benefact Trust Transformational Grant
Diocese SMMIB Funding
Total Cathedral funds		 Unrestricted
funds
£
228,889
1,875,000
32,290
2,136,179
37,949
119,553

231,570
389,072
(190,875)
198,197
2,334,376
-
2,334,376
2,318,289
7,227
8,860
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,334,376		 Restricted
funds
£
150,093
-
16,033
166,126
-
-
233,350
233,350
(27,500)
205,850
371,976
(187,917)
184,059
-
-
-
-
-
-
-
3,315
(215,415)
24,432
117,463
20,140
11,934
9,865
11,109
65,354
18,104
1,747
2,108
1,500
791
15,000
15,803
-
72,591
8,218
184,059		 Endowment
funds
£
134,892
-
-
134,892
-
-
38,499
38,499
-
38,499
173,391
-
173,391
-
-
-
-
25,853
122,961
24,577
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
173,391		 2025
Total
funds
£
513,874
1,875,000
48,323
2,437,197
37,949
119,553
503,419
660,921
(218,375)
442,546
2,879,743
(187,917)
2,691,826
2,318,289
7,227
8,860
-
25,853
122,961
24,577
3,315
(215,415)
24,432
117,463
20,140
11,934
9,865
11,109
65,354
18,104
1,747
2,108
1,500
791
15,000
15,803
-
72,591
8,218
2,691,826		 2024
Total
funds
£
530,866
1,250,000
67,084
1,847,950
36,452
94,163
1,177,876
1,308,491
(229,970)
1,078,521
2,926,471
(217,417)
2,709,054
1,910,946
7,227
27,002
413,533
26,111
123,323
36,562
3,315
(242,915)
24,232
109,723
20,140
-
10,844
11,144
68,842
23,318
1,747
19,783
1,500
791
15,000
18,813
1,599
76,474
-

2,709,054

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

CONSOLIDATED BALANCE SHEET - continued AT 31 DECEMBER 2025

The financial statements on pages 22 to 53 were approved by the Cathedral Chapter on and are signed 14/05/2026 GMT on its behalf by:-

Signer ID: XLJTALOPN2...

Signer ID: GALPLA9MPT...

The Very Reverend Abigail Thompson Dean of Sheffield

Neil Riley Senior Non Executive Member of Chapter

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD CHAPTER BALANCE SHEET AT 31 DECEMBER 2025


Notes
Fixed assets
Investment assets:
Investments
(7)
Tangible fixed assets:
Non investment property
(8)
Equipment and plant
(9)
Total fixed assets
Current assets
Stock
Debtors
(10)
Cash at bank and in hand
(11)
Total current assets
Liabilities due within one year
Creditors
(12)
Net current assets
Total assets less current liabilities
Liabilities due after one year
Loans
(13)
Total net assets
The funds of the Cathedral
(14)
General fund
Revaluation reserve
Designated funds
- Music fund
- Deanery fund
- Houses
Chester Lecture
Music endowments
Cathedral Hall
Church Burgesses Trust
Cathedral Development Project
Cathedral Gateway Project
Yorks & Lancs Regiment fund
Choir Tour Fund
Cathedral Voices
Choral Tuition
William Rowley Charity
Sam Hiller Memorial fund
Organ fund
Community Covenant
Friends of Sheffield Cathedral
David Hepher Painting Restoration
HMS Sheffield Flag
Tony Elwis Legacy
Benefact Trust
Ministry Experience Scheme
Benefact Trust Transformational Grant
Diocese SMMIB Funding
Total Cathedral funds		 Unrestricted
funds
£
228,889
1,875,000
-
2,103,889
799

118,527

192,193
311,519
(146,740)
164,779
2,268,668
-
2,268,668
2,252,581
-
7,227
8,860
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,268,668		 Restricted
funds
£
150,093
-
16,033
166,126
-
-
233,350
233,350
(27,500)
205,850
371,976
(187,917)
184,059
-
-
-
-
-
-
-
-
3,315
(215,415)
24,432
117,463
20,140
11,934
9,865
11,109
65,354
18,104
1,747
2,108
1,500
791
15,000
15,803
-
72,591
8,218
184,059		 Endowment
funds
£
134,892
-
-
134,892
-
-
38,499
38,499
-
38,499
173,391
-
173,391
-
-
-
-
-
25,853
122,961
24,577
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
173,391		 2025
Total
funds
£
513,874
1,875,000
16,033
2,404,907
799
118,527
464,042
583,368
(174,240)
409,128
2,814,035
(187,917)
2,626,118
2,252,581
-
7,227
8,860
-
25,853
122,961
24,577
3,315
(215,415)
24,432
117,463
20,140
11,934
9,865
11,109
65,354
18,104
1,747
2,108
1,500
791
15,000
15,803
-
72,591
8,218
2,626,118		 2024
Total
funds
£
530,866
1,250,000
33,666
1,814,532
574
92,026
1,136,369
1,228,969
(180,091)
1,048,878
2,863,410
(215,417)
2,647,993
1,849,885
-
7,227
27,002
413,533
26,111
123,323
36,562
3,315
(242,915)
24,232
109,723
20,140
-
10,844
11,144
68,842
23,318
1,747
19,783
1,500
791
15,000
18,813
1,599
76,474
-
2,647,993

Page 25

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

CHAPTER BALANCE SHEET - continued AT 31 DECEMBER 2025

The financial statements on pages 22 to 53 were approved by the Cathedral Chapter on and are signed 14/05/2026 GMT on its behalf by:Signer ID: XLJTALOPN2... Signer ID: GALPLA9MPT... The Very Reverend Abigail Thompson Neil Riley Dean of Sheffield Senior Non Executive Member of Chapter

Page 26

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2025

Note 2025 2024
£ £
Cash flows from operating activities:
Net cash (used in) operating activities (a) (145,005) (41,946)
Cash flows from investing activities:
Investment income received net of costs 24,961 28,482
Purchase of tangible fixed assets (522,914) (581,692)
Proceeds on disposal of tangible fixed assets - 740,000
__ _
Net cash (used in)/provided by investing activities (497,953) 186,790
__ _
Cash flows from financing activities
Repayment of loans (31,499) (31,500)
__ _
Net cash (used in) investing activities (31,499) (31,500)
__ _
Change in cash and cash equivalents in the reporting period (674,457) 113,344
Cash and cash equivalents at the beginning of the reporting period (b) 1,177,876 1,064,532
__ _
Cash and cash equivalents at the end of the reporting period (b) 503,419 1,177,876
__ _

Page 27

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED 31 DECEMBER 2025

(a) Reconciliation of net income to net cash flow from operating activities

2025 2024
£ £
Net (expenditure) for the reporting period (as per the SOFA) (122,228) (14,300)
Adjustments for:
Depreciation charges 21,675 20,566
Investment income (24,961) (28,482)
(Profit)/loss on disposals - 10,000
Losses/(gains) on investments 16,992 (9,640)
Increase in stocks (1,497) (4,975)
(Increase) in debtors (25,390) (12,017)
(Decrease) in creditors (9,596) (3,098)
__ _
Net cash (used in) operating activities (145,005) (41,946)
__ _
(b)
Analysis of cash and cash equivalents
Cash in hand 503,419 1,177,876
__ _
Total cash and cash equivalents 503,419 1,177,876
__ _

(c) Analysis of change in net debt

As at 1 As at 31
Jan 2025 Cash flows Dec 2025
£ £ £
Cash in hand 1,177,876
(674,457)		 503,419
Debt due within one year (31,500) 1,999 (29,501)
Debt due after one year (217,417) 29,500 (187,917)
__ __ _
928,959 (642,958) 286,001
__ __ _

Page 28

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2025

1. Accounting Policies

(a) Basis of preparation

The Cathedral Chapter prepares its annual financial statements on the basis of historical cost adjusted for the revaluation of land and buildings and the carrying of investments at market value.

The financial statements have been prepared, in accordance with applicable accounting standards, the ‘Guidelines on Accounting and Reporting Regulations by English Anglican Cathedrals’ issued December 2018, as specified by the Church Commissioners under section 27 of the Cathedrals Measure 1999 and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The consolidated financial statements comprise those of Sheffield Cathedral Chapter and Sheffield Cathedral Enterprises Limited, a wholly owned subsidiary. The results of the subsidiary are consolidated on a line by line basis.

The financial statements are prepared in £ sterling which is the functional currency of the Cathedral and rounded to the nearest pound.

(b) Going concern

Chapter have considered the impact of the current economic climate on the entity’s income and operating cost base. They have prepared forecasts of income and expenditure and cash flow for the period to 31 December 2027 which shows that they have sufficient reserves and cash to be able to continue for the foreseeable future. Chapter therefore continue to adopt the going concern basis of preparation for these financial statements.

(c) Fund accounting

Balances are split between unrestricted, restricted and endowment funds.

Unrestricted funds are expendable at the discretion of the Cathedral Chapter in furtherance of the objects of the charity. Unrestricted funds earmarked for particular projects are designated as separate funds.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds are those where the capital must be retained and cannot be used as if it were income. Expendable endowment funds are those where the capital is usually retained but where it may apply the income.

For an explanation and analysis of each fund see note 14.

Trusts where the Cathedral Chapter acts as trustee and controls the management and use of the funds are included in the financial statements.

(d) Income

Income is included in the Statement of Financial Activities (SOFA) when the Cathedral Chapter is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

Page 29

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

1. Accounting Policies – continued

(d) Income - continued

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

(e) Taxation

The Cathedral is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable entity for UK corporation tax purposes. Accordingly, the Cathedral is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

(f) Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of resources. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Where costs cannot be directly attributed to particular headings they have been allocated or apportioned to activities on a basis consistent with the use of resources. Central support costs are apportioned on the basis of estimated usage of resources at the Cathedral.

(g) Cathedral buildings and the inventory

The Accounting and Reporting Regulations for English Anglican Cathedrals issued in December 2018 do not consider that the Cathedral building is a heritage asset. Accordingly, no value is attributed in the balance sheet to the cathedral and its ancillary buildings.

Similarly, the regulations consider that no value should be attributed to items included in the inventory prepared under S42(1) of the Care of Cathedrals Measure 2011 as being of architectural, archaeological, artistic or historic interest.

Material enhancements to the Cathedral, its ancillary buildings and the inventory are written off to the SOFA in the year incurred, in accordance with current best practice, as are the repairs, restoration and maintenance of the Cathedral.

Page 30

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

1. Accounting Policies – continued

(h) Property

Property is included in the balance sheet at open market value. The increase or decrease in the value of properties at the year end is taken to the SOFA.

(i) Tangible fixed assets

Fixed assets other than property are included at cost less depreciation which is calculated to write off the cost of fixed assets, less their residual value, over their expected lives as follows:

Musical instruments and sound equipment - 10 years straight line Fixtures and fittings - 5 years straight line Plant and equipment - 5 years straight line Computer equipment - 3 years straight line

Depreciation is not provided on freehold properties as it is the Cathedral Chapter’s policy to maintain the property in good repair. In accordance with FRS102, the members have performed an impairment review, and it is their opinion that the carrying values of the freehold properties are not higher than the recoverable amount.

It is the Cathedral Chapter’s policy not to capitalise items costing less than £1,000. The effect of this policy is not considered material to the accounts.

It is the Cathedral Chapter’s policy not to depreciate capital items in the year of addition.

(j) Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

(k) Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discounts due.

(l) Cash and cash equivalents

Cash and cash equivalents consist of cash at bank and in hand.

(m) Creditors and provisions

Creditors and provisions are recognised where the Cathedral Chapter has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(n) Financial instruments

The Cathedral only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(o) Investments

Investments are included in the balance sheet at market value. The increase or decrease in the value of investments at the year end is taken to the SOFA.

Page 31

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

1. Accounting Policies – continued

(p) Pension costs

The pension costs charged in the financial statements represent contributions payable by the Cathedral Chapter during the year.

(q) Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances.

The Cathedral makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The key estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Non-investment property is included in the balance sheet at market value. This market value is subject to judgements made by an expert and by Chapter including, but not limited to, the state of repair of the properties, local knowledge and market conditions.

Support costs are allocated between funds on the basis of resource use. Any allocation to restricted funds must be in line with the terms of the funding and misallocation could materially affect the fund balances.

(r) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount

(s) Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

Page 32

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

2. Prior year Statement of Financial Activities for purposes of comparison

Notes
Income and endowments from:
(3)
Donations and legacies
Grants in support of ministry
Charges and fees arising
in the course of mission
Trading and fundraising
Investments
Total income
Expenditure on:
(4)
Raising funds
Ministry
Loss on property disposal
All other ministry
Education and outreach
CAP insurance monies
All other education and outreach
Cathedral and precincts upkeep
Expenditure
(5)
Net (expenditure)/income
before investment gains/(losses)
Net gains/(losses) on investments (7)
Net (expenditure)/income
Transfers between funds
Other recognised gains
Non investment property
(8)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
199,819
431,526
94,003
521,016
19,546
1,265,910
471,722
10,000
410,729
-
30,222
363,515
1,286,188
(20,278)
2,998
(17,280)
(27,500)
(44,780)
-
(44,780)
2,403,488
2,358,708		 Restricted
funds
£
14,405
489,655
-
-
4,243
508,303
-
-
356,126
-
9,910
150,622
516,658
(8,355)
3,498
(4,857)
27,500
22,643
-
22,643
141,707
164,350		 Endowment
funds
£
-
-
-
-
4,693
4,693
-
-
-
-
-
-
-
4,693
3,144
7,837
-
7,837
-
7,837
178,159
185,996		 2024
Total

funds

£
214,224
921,181
94,003
521,016
28,482
1,778,906
471,722
10,000
766,855
-
40,132
514,137
1,802,846
(23,940)
9,640

(14,300)
-

(14,300)
-

(14,300)
2,723,354

2,709,054

Page 33

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

3. INCOME AND ENDOWMENTS

NCOME AND ENDOWMENTS
Unrestricted
funds
£
Donations and legacies
Legacies
-
Congregational collections
and giving (3a)
165,748
Master Cutlers donation
-
Income from appeals and
fundraising
-
Other
130
165,878
Grants in support of ministry
Church Commissioners
12,753
Church Burgesses Trust (15)
439,320
Church Burgesses
Educational Foundation
-
Church Commissioners
Sustainability Fund
-
Sheffield Diocesan Board
of Finance
7,500
Benefact Trust
-
Cathedrals Music Trust
-
Benefact Trust Transformational
Grant
-
National Schools Singing
Programme
-
South Yorkshire Communities
Grant
12,795
Ministry Experience Scheme
-
Diocese SMMIB Funding
-
LPWGS
1,226
Ousley Trust
-
Williams Church Music Trust
-
Small Sparks
-
473,594
Charges and fees arising in
the course of the mission
Facility and other fees
113,954
113,954		 Restricted
Endowment
funds
funds
£
£
-
-
-
-
-
-
10,700
-
-
-
10,700
-
261,739
-
87,580
-
16,000
-
62,537
-
-
-
15,803
-
22,500
-
28,000
-
12,500
-
1,200
-
-
-
66,611
-
-
-
6,000
-
2,500
-
2,000
-
584,970
-
207
-
207
-		 2025
Total
funds
£
-
165,748
-
10,700
130
176,578
274,492
526,900
16,000
62,537
7,500
15,803
22,500
28,000
12,500
13,995
-
66,611
1,226
6,000
2,500
2,000
1,058,564
114,161
114,161		 2024
Total
funds
£
14,218
145,756
25,000
28,990
260
214,224
265,873
504,873
10,000
32,900
7,500
18,813
15,832
28,000
25,000
9,470
2,920
-
-
-
-
-
921,181
94,003
94,003

Page 34

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS – continued YEAR ENDED 31 DECEMBER 2025

3. INCOME AND ENDOWMENTS - continued

Unrestricted
funds
£
Trading and fundraising
Events held in the Cathedral
176,402
Commercial trading operations
327,241


503,643

Investments
Investments
15,923
15,923
Other income
Insurance claims
8,307
8,307
Congregational collections and giving
Collections
35,984
Alms boxes
27,955
Donations
9,608
Patrons
1,868
Candles
19,042
Planned giving
52,524
Tax recoverable
18,767
165,748		 Restricted
Endowment
funds
funds
£
£
-
-
-
-



-
-
4,344
4,694
4,344
4,694
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2025
Total
funds
£
176,402
327,241

503,643
24,961
24,961
8,307
8,307
35,984
27,955
9,608
1,868
19,042
52,524
18,767
165,748		 2024
Total
funds
£
206,482
314,534

521,016
28,482
28,482
-
-
40,944
25,629
8,132
2,388
17,726
38,522
12,415
145,756

3a. Congregational collections and giving

Page 35

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

4.
EXPENDITURE
Unrestricted

funds
£
Raising funds
Events and hospitality
124,973
Commercial trading operations
322,594
447,567
Ministry
Clergy stipends and
working expenses
-
Clergy housing costs
-
Services and music
342,819
Loss on property disposal
-
Support costs (4a)
165,902
508,721
Education and outreach
Educational activities
1,080
Community Resource Centre
14,594
Support costs (4a)
13,825
29,499
Cathedral and precinct upkeep
Maintenance and interior upkeep
134,613
Cathedral insurance
724
Utilities
74,510
Salaries
85,598
Support costs (4a)
96,776
392,221		 Restricted
Endowment
funds
funds
£
£
-
-
-
-
-
-
163,170
-
26,027
-
60,647
-
-
-
155,965
-
405,809
-
1,926
11,681
-
-
12,997
-

14,923
11,681
34,173
-
55,580
-
296
-
-
-
90,980
-
181,029
-		 2025
Total
funds
£
124,973
322,594
447,567
163,170
26,027
403,466
-
321,867
914,530
14,687
14,594
26,822
56,103
168,786
56,304
74,806
85,598
187,756
573,250		 2024
Total
funds
£
165,885
305,837
471,722
140,344
14,653
332,971
10,000
278,887
776,855
1,623
15,268
23,241
40,132
135,749
54,327
79,775
81,603
162,683
514,137

Page 36

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

4. EXPENDITURE – continued

Unrestricted

funds
£
4a.
Support costs
Office expenses
46,360
Salaries
104,418
Staff recruitment
-
Loan interest
10,000
Public relations
9,220
Legal and professional
39,886
Travel and subsistence
4,588
Staff training
973
Depreciation
1,600
IT running costs
40,249
Bank charges
926
Audit fees
18,283
276,503
Total 2024
283,140		 Restricted
Endowment
funds
funds
£
£
9,642
-
201,366
-
11,667
-
-
-
853
-
5,188
-
1,152
-
11,464
-
16,033
-
2,577
-
-
-
-
-
259,942
-
181,671
-		 2025
Total
funds
£
56,002
305,784
11,667
10,000
10,073
45,074
5,740
12,437
17,633
42,826
926
18,283
536,445
464,811		 2024
Total
funds
£
61,491
236,882
5,680
13,042
7,985
52,868
6,759
5,614
17,633
39,360
717
16,780
464,811

5. Analysis of total expenditure including allocations of support costs

Activities
undertaken
directly
£
Raising funds
447,567
Ministry
592,663
Education and outreach
29,281
Cathedral and precincts upkeep
385,494
1,455,005
Total 2024
1,338,035		 Support
Total
costs
2025
£
£
-
447,567
321,867
914,530
26,822
56,103
187,756
573,250
536,445
1,991,450
464,811
1,802,846		 Total
2024
£
471,722
776,855
40,132
514,137
1,802,846

Page 37

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

6. Cathedral buildings and the inventory

The Cathedral is a 900 year old, grade 1 listed building.

There were no inventory transactions in either year.

7. Investments

Group and chapter

Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
At market value 1 January
234,012
156,344
140,510
Net increase on revaluation
(5,123)
(6,251)
(5,618)
At market value 31 December
228,889
150,093
134,892
All investments are listed UK securities and comprise:
2025
£
UK property fund
71,410
UK investment funds
442,464
513,874		 Total
funds
£
530,866
(16,992)

513,874
2024
£
68,823
462,043

530,866

The historical cost of the investments is £354,297 (2024: £354,297).

8. Non investment property

Group and Chapter
Freehold land and buildings
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
At valuation 1 January
1,250,000
-
-
Additions
520,000
-
-
Disposals
-
-
-
Revaluation
105,000
-
-

At cost/valuation 31 December
1,875,000
-
-
 Total
funds
£
1,250,000
520,000
-
105,000
1,875,000

Unrestricted funds comprise 3 properties (2024: 2 properties) held for cathedral clergy housing.

Page 38

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

8. Non investment property (continued)

Two properties were held at the prior year end. One of these is held at its market value as assessed by Riddle & Co, Surveyors and Professional Services Ltd on 26 March 2026 to reflect the value at 31 December 2025. The other property is held at current market value based on a valuation from Blundells Estate Agents on 17 May 2023, which Chapter does not believe has materially changed in value at 31 December 2025.

A third property was acquired during the year at a cost of £520,000 and is held at its market value as assessed by Riddle & Co, Surveyors on 6 September 2024, which Chapter does not believe has materially changed in value at 31 December 2025.

The historical cost of these properties is £1,816,000 (2024: £1,296,000).

9. Equipment & plant

Group
Unrestricted
funds
£
Cost
At 1 January
307,413
Additions
2,914
Disposals
(19,684)
Transfers
(48,099)
At 31 December
242,544
Depreciation
At 1 January
240,329
Depreciation for year
5,642
Depreciation eliminated on disposal
(19,684)
Transfers
(16,033)
At 31 December
210,254
Net book value
At 31 December 2025
32,290
At 31 December 2024
67,084		 Restricted
funds
£
11,032
-
-
48,099

59,131

11,032
16,033
-
16,033
43,098
16,033
-		 Endowment
funds
£
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
£
318,445
2,914
(19,684)
-
301,675
251,361
21,675
(19,684)
-

253,352
48,323
67,084

Page 39

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

9.
Equipment & plant - continued
Chapter
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Cost
At 1 January
243,259
11,032
-
Disposals
(19,684)
-
-
Transfers
(48,099)
48,099
-
At 31 December
175,476
59,131
-
Depreciation
At 1 January
209,593
11,032
-
Depreciation for year
1,600
16,033
-
Eliminated on disposals
(19,684)
-
-
Transfers
(16,033)
16,033
-
At 31 December
175,476
43,098
-
Net book value
At 31 December 2025
-
16,033
-
At 31 December 2024
33,666
-
-
10.
Debtors
Group
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Trade debtors
52,343
-
-
Prepayments and other debtors
67,210
-
-
119,553
-
-
Chapter
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Trade debtors
52,343
-
-
Amounts owed from
group undertakings
1,839
-
-
Prepayments and other debtors
64,345
-
-
118,527
-
-		 Total
funds
£
254,291
(19,684)
-
234,607
220,625
17,633
(19,684)
-

218,574
16,033
33,666
2025
Total
funds
£
52,343
67,210
119,553
2025
Total
funds
£
52,343
1,839
64,345
118,527

2024
Total
funds
£
45,085
49,078
94,163
2024
Total
funds
£
45,085
-
46,941
92,026

Page 40

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

11.
Cash
Group
Unrestricted
funds
£
CBF Deposit fund
466
Cash at bank and in hand
231,104
231,570
Chapter
Unrestricted
funds
£
CBF Deposit fund
466
Cash at bank and in hand
191,727
192,193

12.
Creditors due within one year
Group
Unrestricted
funds
£
Trade creditors
88,352
Deferred income
11,681
Accruals and other creditors
88,842
Due to the Diocese
-
Bank bounceback loan
2,000
190,875
Chapter
Unrestricted
funds
£
Trade creditors
73,624
Deferred income
11,681
Accruals and other creditors
61,435
Due to the Diocese
-
146,740		 Restricted
Endowment
funds
funds
£
£
-
17,776
233,350
20,723
233,350
38,499
Restricted
Endowment
funds
funds
£
£
-
17,776
233,350
20,723
233,350
38,499
Restricted
Endowment
funds
funds
£
£
-
-
-
-
-
-
27,500
-
-
-
27,500
-
Restricted
Endowment
funds
funds
£
£
-
-
-
-
-
-
27,500
-
27,500
-		 2025
Total
funds
£
18,242
485,177
503,419
2025
Total
funds
£
18,242
445,800
464,042
2025
Total
funds
£
88,352
11,681
88,842
27,500
2,000
218,375
2025
Total
funds
£
73,624
11,681
61,435
27,500
174,240		 2024
Total
funds
£
17,452
1,160,424
1,177,876
2024
Total
funds
£
17,452
1,118,917
1,136,369
2024
Total
funds
£
85,174
21,953
91,343
27,500
4,000
229,970
2024
Total
funds
£
74,386
21,953
56,252
27,500
180,091

Page 41

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

12. Creditors due within one year- Continued

Unrestricted
Group and Chapter
funds
£
Deferred income at 1 January14,453
Resources deferred during the year11,681
Amounts released from previous
periods
(14,453)
Deferred income at 31 December11,681		 Restricted
Endowment
funds
funds
£
£
7,500
-
-
-
(7,500)
-
-
-		 2025
Total
funds
£
21,953
11,681
(21,953)
11,681		 2024
Total
funds
£
43,332
21,953
(43,332)
21,953

At the balance sheet date, the Chapter was holding funds for grants received in advance for the singing programme.

13. Creditors due over one year

Unrestricted
funds
£
Total
-
Due to the Diocese
-
Chapter
-
Bank bounceback loan
-
Group
-		 Restricted
Endowment
funds
funds
£
£
-
-
187,917
-
187,917
-
-
-
__
187,917
-		 2025
Total
funds
£
-
187,917
187,917
-
187,917		 2024
Total
funds
£
-
215,417
215,417
2,000
217,417

Diocese

The Diocese made a loan to the Cathedral for £550,000 for the purpose of the Development Project.

The loan term is 25 years and repayments have been made annually commencing 2018. Interest is charged on the balance at the rate equivalent to the Central Board of Finance Deposit Fund Rate. The Cathedral was given a holiday in the repayment of this loan in 2017 and no payment was made in 2016.

Loans due in more than one year fall due as follows:

Between 1 and 2 years
Between 2 and 5 years
After 5 years		 Diocese
£
27,500
82,500
77,917
187,917		 Total

£
27,500
82,500
77,917
187,917

Included within creditors is a Coronavirus bounceback loan of £2,000 (2024: £6,000) which is secured by way of government guarantee, with £2,000 (2024: £4,000) due within one year and £nil (2024: £2,000) due over one year.

Page 42

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

14. Statement of funds

(a) Endowment funds – current year

Group and Chapter

At 1 January
Income
Expenditure
(Decrease) in market value
of investments
At 31 December		 Permanent Expendable
Chester
Music
Music
Cathedral
Lecture Endowments Endowments
Hall
£
£
£
£
26,111
106,337
16,986
36,562
587
2,626
790
691
-
-
-
(11,681)
(845)
(3,778)
-
(995)



25,853
105,185
17,776
24,577		 Total
£
185,996
4,694
(11,681)
(5,618)
173,391

Endowment funds – prior year

Group and Chapter

At 1 January
Income
Expenditure
Increase in market value
of investments
At 31 December		 Permanent Expendable
Chester
Music
Music
Cathedral
Lecture Endowments Endowments
Hall
£
£
£
£
25,064
101,659
16,106
35,330
574
2,564
880
675
-
-
-
-
473
2,114
-
557



26,111
106,337
16,986
36,562		 Total
£
178,159
4,693
-
3,144
185,996

Chester Lecture Fund

Income from this fund is to be used to fund an annual lecture. The capital within this fund is not available to the Cathedral.

Music endowments

Income from this fund is to be used to defray the expenses of the choristers and choir facilities. The capital within this fund is not available to the Cathedral.

Cathedral Hall Wostenholme Memorial Fund

Income and capital from this fund is to be used for the upkeep of the Cathedral Hall.

Endowment funds include unrealised gains of £58,566 (2024: £64,184).

Page 43

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

14. The funds of the Cathedral - continued


(b)
Restricted funds – current year
Group and Chapter
At
1 January
2025
£
Church Commissioners
-
Church Burgesses Trust
-
Church Burgesses Trust – Education 3,315
CSF-Fund 3
-
CSF-Visitor Experience Co-ordinator
-
CSF-Marketing Manager
-
CSF-DOSF
-
Cathedral Development Project
(242,915)
Cathedral Gateway Project
24,232
York & Lancaster Regiment
109,723
Choir Fund
20,140
Cathedral Voices
-
Choral tuition
10,844
William Rowley Charity
11,144
Sam Hiller Memorial fund
68,842
CSSP
-
Organ fund
23,318
Community Covenant
1,747
Friends of Sheffield Cathedral
19,783
Painting Restoration
1,500
HMS Sheffield Flag
791
Tony Elwis Legacy
15,000
Benefact Trust
18,813
Childrens & Youth Minister
-
Ministry Experience Scheme
1,599
Benefact Trust Transformational
Grant
76,474
Diocese SMMIB Funding
-
Total Restricted funds
164,350		 Income Expenditure
£
£
261,739
(261,739)
87,580
(87,580)
-
-
4,266
(4,266)
16,875
(16,875)
32,171
(32,171)
9,225
(9,225)
-
-
200
-
13,404
(1,783)
-
-
17,500
(5,566)
6,000
(6,979)
81
-
1,566
(2,800)
31,200
(31,200)
-
(5,214)
-
-
-
(17,675)
-
-
-
-
-
-
15,803
(18,813)
8,000
(8,000)
-
(1,599)
33,981
(37,864)
60,630
(52,412)
600,221
(601,761)		 Losses on
31
Transfers
investments
£
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
27,500
-
-
-
-
(3,881)
-
-
-
-
-
-
-
(116)
-
(2,254)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
27,500
(6,251)		 At
December
2025
£
-
-
3,315
-
-
-
-
(215,415)
24,432
117,463
20,140
11,934
9,865
11,109
65,354
-
18,104
1,747
2,108
1,500
791
15,000
15,803
-
-
72,591
8,218
184,059

Page 44

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

14. The funds of the Cathedral - continued

Restricted funds – prior year
Group and Chapter
At
1 January
2024
£
Church Commissioners
-
Church Burgesses Trust
-
Church Burgesses Trust – Education 3,315
Cathedral Development Project
(270,415)
Cathedral Gateway Project
25,764
York & Lancaster Regiment
106,159
Choir Fund
20,140
Cathedral Voices
-
Choral tuition
14,246
William Rowley Charity
11,000
Sam Hiller Memorial fund
68,851
Organ fund
10,456
Community Covenant
1,747
Friends of Sheffield Cathedral
19,783
Painting Restoration
1,500
Role Employment Costs
-
HMS Sheffield Flag
791
Tony Elwis Legacy
15,000
Benefact Trust
35,290
CSF-Fund 3
-
Ministry Experience Scheme
80
Benefact Trust Transformational
Grant
78,000
CSF-Policy Officer
-
Total Restricted funds
141,707		 Income Expenditure
£
£
257,847
(257,847)
86,373
(86,373)
10,000
(10,000)
-
-
200
(1,732)
2,634
(1,242)
-
-
50,302
(50,302)
-
(3,402)
79
-
1,530
(2,800)
14,205
(1,343)
-
-
-
-
-
-
15,302
(15,302)
-
-
-
-
18,813
(35,290)
10,951
(10,951)
5,420
(3,901)
28,000
(29,526)
6,647
(6,647)
508,303
(516,658)		 Gains on
31
Transfers
investments
£
£
-
-
-
-
-
-
27,500
-
-
-
-
2,172
-
-
-
-
-
-
-
65
-
1,261
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
27,500
3,498		 At
December
2024
£
-
-
3,315
(242,915)
24,232
109,723
20,140
-
10,844
11,144
68,842
23,318
1,747
19,783
1,500
-
791
15,000
18,813
-
1,599
76,474
-
164,350

(1) Church Commissioners

Income from the Church Commissioners is restricted to being used to pay stipends, salaries and other emoluments of persons employed in connection with the Cathedral Church.

(2) Church Burgesses Trust

Income from the Church Burgesses Trust is restricted to being used to pay certain salaries and items of expenditure.

(3) Church Burgesses Trust – Education

(4) CSF-Fund 3

Post Covid-19 recovery fund – funding to provide staffing support to aid in the recovery post Covid.

Page 45

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

14. The funds of the Cathedral - continued

(6) CSF-Marketing Manager

(7) CSF-DSOF

(8) Cathedral Development Project

(10) York & Lancaster Regiment

(11) Choir fund

This fund relates to monies raised by the choir and spent on choir activities.

(12) Cathedral Voices

This fund is to be used for the repair and maintenance of the Rowley Window.

(16) CSSP

Income/Grants received specifically to help the Cathedrals’ Schools Singing Programme.

(17) Organ Fund

This fund represents money which has been raised for the purchase of an organ.

(18) Community Covenant

Income from the ministry of defence is used to engage children in their heritage and acknowledge the armed forces in the centenary year of WW1.

Page 46

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

14. The funds of the Cathedral - continued

Money raised for the restoration of the David Hepher painting.

Funds given by the HMS Sheffield Association to pay for the installation of the Jack Staff and Union Jack from HMS Sheffield into St George’s Chapel.

(22) Tony Elwis legacy

A gift for the purchase of Cathedral vestments.

Funding towards music activities.

(27) Dioceses SMMIB Funding

Triennium funding from the National Church to support the cathedral in developing new worshiping communities, starting with the formation of the Community of St Paulinus (CsP).

Restricted funds include unrealised gains of £18,515 (2024: £24,766).

Page 47

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

14. The funds of the Cathedral - continued

At
1 January
2025
£
Designated funds
Deanery Fund
27,002
Music Fund
7,227
Houses Fund
413,533
447,762
General funds
General funds
1,849,885
Sheffield Cathedral
Enterprises
61,061
1,910,946
Total unrestricted funds 2,358,708
Unrestricted funds – prior year
At
1 January
2024
£
Designated funds
Deanery Fund
27,002
Music Fund
7,227
Houses Fund
420,000
454,229
General funds
General funds
1,796,895
Revaluation reserve
100,000
Sheffield Cathedral
Enterprises
52,364
1,949,259
Total unrestricted funds2,403,488		 Income Expenditure
£
£
-
(18,142)
-
-
-
(413,533)
-
(431,675)
954,058
(623,739)
327,241
(322,594)
1,281,299
(946,333)
1,281,299
(1,378,008)
Income Expenditure
£
£
-
-
-
-
-
(6,467)
-
(6,467)
951,376
(973,884)
-
-
314,534
(305,837)
1,265,910
(1,279,721)
1,265,910
(1,286,188)		 (Losses)/
gains on
31
Transfers
revaluations
£
£
-
-
-
-
-
-
-
-
(27,500)
99,877
-
-
(27,500)
99,877
(27,500)
99,877
(Losses)/
gains on
31
Transfers
revaluations
£
£
-
-
-
-
-
-
-
-
72,500
2,998
(100,000)
-
-
-
(27,500)
2,998
(27,500)
2,998		 At
December
2025
£
8,860
7,227
-
16,087
2,252,581
65,708
2,318,289
2,334,376
At
December
2024
£
27,002
7,227
413,533
447,762
1,849,885
-
61,061
1,910,946
2,358,708

Page 48

Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

14. The funds of the Cathedral - continued

Deanery fund

This fund represents the balance of the sale of the Dean’s former house and is set aside for future works to the Deanery.

Music fund

This fund represents money set aside for supporting music within the Cathedral.

Houses fund

This fund represents the surplus of the sale of the Dean & Precentors houses which has been used for the purchase of a new property.

Revaluation reserve

The transfer took place when the revaluation reserve was released following the sale of the property during the prior year.

Unrestricted funds include unrealised gains of £589,443 (2024: £594,566).

15. Church Burgesses Trust

The Church Burgesses Trust provides substantial support for the maintenance and insuring of the fabric of the Cathedral, the costs of divine worship and for administration.

In addition the Cathedral Chapter can apply to the Church Burgesses Trust for one off grants towards major repairs and improvements from time to time.

Details of income received from the Church Burgesses Trust is as follows:

Note
Grant for maintenance, divine
worship and administration
One off grants
Total support
(3)		 2025
£
491,580
35,320
526,900		 2024
£
470,373
34,500
504,873

16. Transactions with the Diocese

At the year end there is an interest-bearing loan due to the Diocese of £187,917 (2024: £242,917) (notes 12 and 13).

During the period, the Diocese provided a total donation of £7,500 (2024: £7,500).

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CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

17. Pension costs

The Chapter contributes to staff pensions in line with the auto enrolment rate. For staff who were employed before auto enrolment was implemented the Cathedral contributes 8%. Clergy pensions are paid by the Church Commissioners and so their pension arrangements are not relevant for disclosure in these accounts.

Pension contributions paid by the Cathedral Chapter amounted to £23,282 (2024: £20,486). No contributions were outstanding at the year end (2024: £Nil). This excludes clergy pension costs paid directly by the Church Commissioners.

18.
Employees
The average number of employees during the year was:-
Clergy
Lay and administration
Songmen
The total full time equivalent number of employees
during the year was:
Total staff costs, including clergy stipends, include the following:
Clergy stipends (note 19)
Salaries

Employer’s national insurance
Pension contributions

Apprenticeship levy
2025
No.
4
23
6
33
22
2025
£
76,862
721,452

78,107
40,278
352
917,051		 2024
No.
6
31
5

42
21
2024
£
95,670
674,251
56,404
44,420
432
871,177

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024
No. No.
In the band £60,000 - £70,000 1 1

Although clergy are classified above as employees for analysis purposes, they have self-employed status for tax purposes.

The total amount of employee benefits received by senior management personnel is £174,667 (2024: £197,771) which includes gross pay, employers’ national insurance and employers’ pension contributions. The Cathedral Chapter considers its senior management team to be the Dean, Canons and Chief Operating Officer.

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Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

18. Employees - continued

Total redundancy/termination payments made during the year amounted to £13,492 (2024: £Nil) and related to staff redundancies including pay in lieu of notice. At the year end, a total balance of £Nil (2024: £Nil) was owed in respect of the termination payment.

19. Related party transactions

The remuneration and pension costs of the full time Residentiary clergy who are members of the Cathedral Chapter are given below. They are paid in accordance with scales laid down annually by the Church Commissioners, the Archbishops’ Council and the Church of England Pensions Board.

The Revd Canon A Thompson
The Revd Canon J Dodd
The Revd Canon A Thompson
The Revd Canon J Dodd
The Revd Canon G Harbord		 2025
2025
Stipend
Apprenticeship
Levy
£
£
43,302
203
33,560
149

76,862
352
2024
2024
Stipend
Apprenticeship
Levy
£
£
41,751
180
32,430
145
21,490
107

95,671
432		 2025
Pension
£
8,006
6,405
14,411
2024
Pension
£
8,513
8,596
4,589
21,698

The clergy stipends are fully funded by the Church Commissioners. These financial statements show the matching income and expenditure relating to this funding.

The above members lived in houses owned by the Cathedral Chapter during the year. Out of pocket expenses reimbursed to 4 members during the year amounted to £7,817 which includes travel, subsistence and home office costs (2024: £5,092 to 3 members).

During the year 4 chapter members donated £2,017 to the Cathedral (2024: 3 members donated £1,688)

In the prior year, the charity also sold a property to Madeleine Lake, the daughter of Sally Holding, a Trustee of the charity. The property was sold at its market value, as determined by an independent valuation, and the transaction was conducted at arm’s length.

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Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

19. Related party transactions - continued

Cathedral Archer Project Ltd (CAP)

During the year the CAP occupied part of the CRC and the Cathedral received £39,500 (2024: £37,885) for the lease of the premises and a £10,972 (2024: £12,442) contribution towards the utilities cost. These charges are subsidised by the Cathedral and the amount representing a gift in kind from the Cathedral to the Project is estimated at £60,000.

Sheffield Cathedral Enterprises Limited

At the year end a balance was owed to the Cathedral to its subsidiary of £1,839 (2024: £144 debtor).

20. Operating lease commitments

Lessee

At the reporting end date the Chapter had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Photocopiers
Within 1 year
Over 1 year
 2025
£
4,202
-
4,202		 2024
£
6,304

4,203

10,507

Expenditure charged to the Statement of Financial Activities in respect of operating leases this year was £9,483 (2024: £10,687).

21. Contingent liabilities

The Gateway project has received funding from HLF. In accordance with the related agreements there are conditions in respect of the continuing use of the Cathedral Heritage Centre. Any change in that use could give rise to a possible claw back which will apply up to the year 2039.

The Cathedral Chapter has adopted strategies to ensure that the conditions will be met. In the opinion of the Chapter repayment of these funds will not be required and, accordingly, no liability for these amounts has been provided in these financial statements.

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Document ID: ad5a1324ae50399ca68febb8b270f8c871baf8c3b5e7a53c8e603f005fceb0a7

CATHEDRAL CHURCH OF SAINT PETER AND SAINT PAUL IN SHEFFIELD

NOTES TO THE ACCOUNTS - continued YEAR ENDED 31 DECEMBER 2025

22. Principal subsidiaries

The wholly owned subsidiary, Sheffield Cathedral Enterprises Limited (company registration no: 09481073), which is incorporated in the United Kingdom, pays all its taxable profits to the charity by gift aid. A summary of its results and assets and liabilities are shown below:

Income
Expenses
Profit
Fixed assets
Current assets
Current liabilities
Long term liabilities
Net assets
Represented by:
Share capital
Reserves		 2025
£
327,241
(322,594)
4,647
32,290
79,392
(45,974)
-

65,708
-
65,708
65,708		 2024
£
314,534
(305,837)
8,697
33,418
79,666
(50,023)
(2,000)
61,061
-
61,061
61,061

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