THE ROCHESTER CATHEDRAL TRUST
Reglstered Charity Number 291610
TRUSTEES, ANNUAL REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31st DECEMBER 2021

The Rochester Cathedral Trust
Trustees and Advlsers
Mr Rkhafd Cmdheld OBE DL {Chaknun)
Br* Pltholos lappolmed Awl 20211
Lord CL4bYaln DL
Mr Jocefrffl Croft
Mrs K•t¢ Fenwtk DL I(thatr of
Can(ffi Ra￿ (y)d5011
Very Revd Or Philip l Hesketh DL
carK￿ Paul HLbtson
Mrs Kate Larnpard CBE Ci
Mr Lats Lemonlu5 (Cholr of the fyJfid￿ S￿)
Mr5 Renwhy Mlthter
Mr Russell Race t
Mr lthn SF￿ OBE DL Irtttred Noveth 2021)
Mr Davkj Ward (Chalr of the Rochester Caththl Bu￿r￿S Gul
Mrs Geor8lna Warw DL Iretlred Februwy 2021)
Slr David Wo)ttM lapwnted Juty 20211
P•trons
ROW Potron." HRH The Countess of Wessex GCVO
￿￿1¢ Pwon.. Mr Jo(45 HolLand OBE. DL
VI￿ Pavon Mr Rory Suthed•nd
of Gundth Soclety loanna L￿nleY
D•v•lopm•nt Offk•
Garth House
The PreclrKt
Rtxhester
K•)t MEI ISX
B•nk•rs
NathM￿ Westmlnster Bank plc
148 HW Street
Chatham
Kent
ME4 4DB
Independent Audltor4
Haysmaclntyre LLP
10 Queen Street Plxe
EC4R IAG
Sollcltors
Lee BOl￿n MonlerWtll*ms
l Tr Sanctu
We5tmlnster
Swi 3JT
Page I

The Rochester Cathedral Trust
Trustees. Annual Report
for the Year ended 31st December 2021
The T￿ts￿e5 have th5we In we5￿￿n8 th* repm and the a￿l￿d fln•rKlal statements of the Trt￿ for the year er￿ed
31st De£ernber 2021. hwe been pwied In acc(xdance wlth C￿ert stattw requlremats the 2015 Staternent
Recmirwided Practke on ACcou￿n% and Reportlng by Charttles SCRP tr* Tnrt Deed.
Alms, ObJ•rtlves Ind St¥•te¥y
The frust was created by Rochester C•thedrnl by • Tr[￿¢ D￿1 drted I lth Ayll 1985 as *￿end￿ by a S￿ernertaI Deed
dated 13th April 1997, a Resolution dated 27th Febnjary 2008, amen￿ March 2017 arKI fvrther amended Mirch 2019.
The purp05e5 of the Trust we wcfftote the rellBtCXLS and dwi¢•ble of the Church of England by provldlng add￿lOn81
support for all or any of thè tharkabk pwposes to the c4Atular revenues of the cathedral are appIl¢ab￿. IndLMling
eclalty pre5•Th•tk>ry rnaInten￿e and (knlorn d Rothester Cathth( and so th)t In the furthernrKe of these
purposes the capitsl as well as tr rtorr* cltheTnst rmy be appw.
The chafftable Objects of the Trust Indud&'
l. The endo%wnent ofthe catwrafs rr1￿¢ •nd trndlu
2. The weservat1￿7 malntenèrKe ofthe cathedT4s hLstork fthc
3. The k¥omotlon of the cathedrafs herlta8e as a htstorfc landmrk and plxe
4. The knFX¢)vement of the c•thedral's bryound •nd W￿lu¢S
Ch•ilt•bl• St*￿1
TheTntst Is a reostsfed chrtty. nuth 291616.
Tru$te•s •Trd Ory•nls•tk)n•l Stwctur•
The current tWStees all of wh¢)m seThed yur except whwe kndlcatsd. a￿ shown on pa8e l.
The Chalrman aNJ between two and el8ht TnJ5tees are ￿MIl￿ted by the Owpter of R¢xhester Cathedral and between two
and tl8tht fLther T￿￿te5 are r￿xnlnoted by the Trustees. subject io the •PF￿val of the Ch•pter. to hokl offio for three
year&
The chaity 15 admlnlstered by a fulktlme member of staff. s￿¢¢5 ¥e don•ted by Rochester Cathe(hl and who Is
based at the Cathedral'5 office. She repw to the Tru5w vtho I￿tthree tjrnes durlngthe year.
Trust••s' Powars of Inv•stm•nt
Revl•w of Fln•nel•l Posltlon •nd Resems Pollcy
The Trustees. policy is to bulld up surncknt resm to Cover the admlnkrtratkn of the tru# on an an￿al basts JrKI only to
enter Into commiiments to supwt specfftt once fcff that expendliure has be￿ secuTed. At ￿ present
tlme. unrestrlcted reserve5 are greatly In excess of the annLbal wnnlng ¢OSts of the Tru5L tkwlng the year th15 has been
reduced 85 Past Income has been allocated to spedfic Pfolects. At the 31￿ December 2021. an funds were In Surplus
totsllin8 £701.95512020 E315.491}.
Publlc B•Mfft Statsm•nt
The Trustees confirn that they have complied with the (kKy kn sectlon 17 of the Chartt*s Act 2011 to haw due regard to
publlc b￿efit Su￿nCe published by the Chailty ConThlssk)n In the actmuu undertaken by thE tharfty.
Goln8 Conc•m St•t¢ment
The Trustee5 have conshjered the golng concem basts urKler the xcounts have been preparèj. In the vkw of the
Trustees the current levd of unrestflcted reserves is suffk*rt for neady 2 ￿$17 years 9 month51 rKJrmal admlntstratlon
expendfitwe and a5the f￿d Js hekl prkn¥lty kn cash tPwe are no uncerralnMes few the f￿se¢able frJtyJre

The Rochester Cathedral Trust
Trustees. Annual Report (cont'd)
for the Year ended 31st December 2021
Implementlng the Trusts obl•ttlv•s
During the reportlré perfo(i the TnAee5 met on four occaskn& and took • strategk aFvoach Js a 8rant.n￿Ing body based
on the report5 recelved and the reqwts f(Y ffftllng m>Je by the thwr. Tr* 5tTate8V W•5 to rn15e funds ar
ke 8rants In wth the ¢Jthedral'5 pknned devdo
RcKhe5ter Cathedral malntahs a polky of free access to an the public It not orfy serves the lool communlty
dally In Its Telloous and tharttable bur ts o stte of n￿kN￿l for the promotlon of rdl8lcrt musk educatFon,
history. herrtage, and archttec¢we. The Tnjstees are 8wlded by the Cathethal Chapter's kty akns to "eJwkh, reswrc¢ •nd
grow. the uthe(tral's mlslon to be a ￿￿•¢* of w(xship. wayer. comnwnlty ￿ swthe.
In totsl the Trv5t Tr15ed £644,115 12020.. £422.381) kn the to 31st Deceth 2021 ab￿ to 8rnrt £209,810
12020.. £468.0011 io the Catwal PrO￿ts durtng the yew. &ants Indth £141,929 uèn5ferred to the Cathedrals Musl¢
owment Fund *)d addLional mu51t reltsl
The 5l8niftG￿t aCtfv￿eS undertakw tofwther the 5tratw kn the Tep￿tIn8p￿0d
- Supportfof the cathedrafs muslc1£21,0161
- Transfer to ihe cathedral m￿t endowTnert fwMI1£141.929)
- aols¢er Guth Proleci1£9,982)
- New Railin8$1£12,369}
- CofNnunlty Cholr1£5.6931
- Voul coaching ff5.000)
A complete ltsr of8r•nts •w•r￿9 to Rocherttr Cathedrnl15 shown kn note 2 to fiMrKlal stItsm￿th
Conn•rt•d Ch•rlty
A5 Stated abo￿ the maln oblectfve af the Tr1￿ Is to sw)port tht aciivltJe5 of Rochester Cathethal. whlth has chadtable
Status. The Chapter. vthlth Is rhe 8ovemlng bth of the Catheikal. has a wfftant Infiuence In the appolntrnent of TrusteES
ro the Trux and certaln of ¢he TfUrtee5 are also Th￿be15 of Chapter. Tr￿sla￿￿$ wth Rothes¢er Cathedf•l I￿ db5c105ed
whffe approwlite th these
St•t•m•nt of Trurt••s' R•sponslbllltl•s
Law applkable to thar6tle5 In England and Wales req￿reS the T￿s￿¢S to prepare flrwKlal st•thments for exh flnanclal year
that glve a true and falr vlew of the ch*lty5 finarthl actMt*5 dwkng year and of tts finondal posttlon at the end of the
In prepaNThd flnancl)I ststements givk)8 1 true and falr vlew, the Tru5tee5 sh(xAd foHow best practke and Select sutsble
•ccountlng polk*s •nd then apply them c<ro15tently. obsffve the prfncfjples and n*thod5 of t￿ charlues. SORP,, rnake
ludgements and esUmate5 th•t awe reasonable and pruden( state *thethw Wlcabk accortln8 Starthrd5 wd staternents of
Commended practke have been folk>*ed. subptt to ￿ departwes dtsch)5ed and explalwl In the financ*1 5taternents
and wepare the flnandal ststemerrts on a goin8 C<XKem b•sls li ts InapPr￿rI•ie to assurr￿ thit the th)rtty ￿11
contlnue In operntlon.
The Trusiees are ￿SPOnsIble for acC(￿ntIng vthich dtsdose thfth reasonab￿ accuracy the financ￿1 PO￿tIOn of
the charlty ar￿ enable them to enswe that fbMtKJal stattr￿ts coryty th applICab￿ law. They are also
responsible for safe8uardln8 the assets of ￿ tharKy ¥KI tak1￿ r6iy)nable steps ffA the wevenuon and d&ectbn
of fraud and other Irre8￿ar
Approved by the Tn￿tee5 on I Ikh Nownbw 2022
Page 3

Indèpendent audhorf5 report to the tntsle*s of R0d￿rt￿ C•thodr•l Trusl
Oplnlon
We have audfted ihe finandal statements of Rochester Cathedral Trust for the yearondèd 31 December 2021
whlch tomprlsè thè Statement of Financial Activities. the Balance Sheet and notes to the finantial statements.
Including a summary of si8nTfKant accounting polic￿. The financial reporting framework that ha5 been appli
In thelr preparation Is appllcable law and Vnlted Klngdgm Accounting Standards, includlng Flnancbal Reportln8
Standard 102 The Flnonclol I￿pOrtAn9 Stondord opplic(wble In the UK ond Republlc OA Irelond Iunlted Kln8dorn
Generally Attepted Accountlng Prarticèl.
In our oplnlon, thèfinanclal Statements:
give a true and fair view ofthe state of the charws affalrs as at 31 December 2021 and of the charws
net movement in funds for the year then ended-
have been property prepared in accordarite with Unlttd Ki￿d0M Generally k¢epted Accountln£
Practice,. and
havè beèn prepared In accordance woth the requlrements ol the Charities Aet 2011.
Basls for oplnlon
We have been appointed a5 auditor under sertlon 144 of the Charf(les Act 2011 and report in accordance wlth
the Act and relevant regulation5 made or havlng efftct thereunder. We Conducted our audlt In accordance wlth
Internatlonal Stsndards on Auditln8 IVKI IISAS IUKII and appllcable law. Our re5ponsibllltlt5 under those
standards are further described in the Audllorfs responsibill￿eS for the audit of the financlal statements sèction
of our report. We are Independent of the ¢harlty Sn accordance with ihe ethiol requlrements that are relèvant
to our audlt of the financial statements In the UK. In¢ludlnE the FRCS Ethical Standard, and we have fulfllled our
other ethlcal responslbTlities in accordènce wlth these réqulrements. We belSeve that the audlt evlden¢e we
havè obtalned is suffident and appropriate to provide a ba515 lor our opinknn.
Concluslons r•latlni io iolng conc•m
In audltln8 the flnanclal statements, we have ¢on¢lvded that the trustees. use of the 8oln8 contern ba515 of
accountln8 In the preparatlon of the financlal statements Is appropriate.
Based on the work we have performed, we have not Identffled any materlal uncertalntles relatln8 to evènts or
¢ondltlon5 Ihat, Indlvidually or collectlvety, may cast SVdnSficant doubt on the tharfty's abllity to contlnue as
goin8 con¢em for a perlod of at leasi h¥efve months from when the financlal staternents are authorlsed for
Issue.
Our responsibllltle5 and the responsibillt5es of the trustees wlth respect to 8olni concern are de5crlbed In the
relevant sections of this report.
Other Inlorm•tknn
The trustees are responslble for the other informatknn. The other Inforniatlon comprises the Informatlon
Included in the Trustees, Annual Rep)rt. Our opinlon on the financial statements doe5 not cover the other
Informatlon and, except to the extent otherwlse expllcl￿Y stated In our report, we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibilityls to read the other informatSon and,
in doin8 $0, consider whether the other information is materralfy inconsistent wtth the financlal 5tstements or
our knowled8e obtained In theaudlt or otherwlse appears to be materlalty mlsstated. If we identlfy such mater(al
Incon5i5tencle5 or apparent material rni$5tatements. we are requlred to determlne whether there 15 a material
misstatement in the financi31 statèments or a material mi55tstement of the other Information. 11. b35ed on the
work we havè performèd. we tonclude that there Is a material misstatement of thls other infom)ation, we are
required to report that fact. We have nothin8 to report in this Te8ard.
Matters on whkh we ar• requlred to report by ￿￿ption
We have nothlng to report In respect of the follo￿n£ matters In relatKJn to whlth the Charltles (Attounts and
Reports) Regulations 2008 require us to report to you Sf. In our oplnlon:
adequate accountlng records have not been kept by the charity: or
Page 4

suffitlent attounting record5 have not been kept; or
the eharrty financial statements are not In a8reement wFth the accountlnÈ records and retums; or
we have not received all the informatlon and explanaifions ￿ rÈquire for our audlt.
Responslbllhle5 of trustees for th• flnandal statrmerrts
As explalned more fully In the tnjstees. responslbllltles statement sei out on page3. the trustees are responslble
for the preparation of the financial 5tstements and for being sat￿r￿d that they give a true and fair vlew, and for
suth internal control as the trustee5 detemiine is necessary to enable the prèparatlon of financial ststements
that are free from rnaterial mi55tatement, whether due to fraud or error.
In preparlng the flnanclal statements. the trurtee5 are responslble for asse551ng the charr￿5 ablllty to contlnuè
as a 8oing concern, disclosin& as applitable, matter5 related to goin8 concern and using the 8olng concern basls
of accounting unless thetrustees elther intendto liquidatethe charity ortoceaseoperation5, or have no realtsti
allernatlve but to do so.
Audltorfs respOn￿bIl￿1¢S for the ludlt of th• fin•nd•l sthtèments
Our oblectives are to obtain iea50nable assurance aboui whether the financlal statements as a whole are free
from material rnisstatement, whether due to fraud or èrror. and to Issue an audttorfs report that includes our
opinlon. Reasonable assurance Is a hlgh Itvel ol assurance, but 15 not a 8uatanteè that an audlt conducted In
accordance wtth ISAS IUKI wlll always detect a material m155tatement when It exlst5. Misstatèments can arlsè
from fraud or error and are considered maierlal if, individually or in the aggregate, they could reasonably be
expected to Influence the economlc decisoons of users tsken on the basls of these flnancSal statements.
Irrteulariti*s. Includlni fraud, are Instances of non-compllancewlth laws and wuEatlons. We design pro¢edures
In Ilne wlth our responsSbiifcles. outllned above. to detect material mlsststements in respect of Irregularftle5,
Includln8 fraud. The extent to whlch our Pfocedufes afe capable of delecting irregularltles, includin8 fraud Is
detalled below:
Based on our understandlng of thé charity and the envlronment In which it operates, we Identlfled that the
princlpal risks of non-compliance wlth laws and regulatlons related to those laws and re8ulalion5 related to
Te8lStèred chafrtles, and we consldered the extent to which nowompll•nc* mi8ht have a maierlal effect on the
fftnanclal statements. We also consldefed those laws and regulations that have a direct Impact on the
preparatlon of the flnanclal statements such as ihe Chariiie5 Acl 2011 and other factors such as taxatlon.
Wt evaluated managemenY$ In¢entives and opp¢7rtunities for fraudulent manipulatlon of the flnan¢lal
statements1Sntluding the risk of overrlde of contro151 and determlned that the principal r15ks were related to
manual aciountinziournals. Audit procedures perfornied by the en8aeement team Included..
Discussions wlth management including considerotlon of known or suspected Instances of non.
compliance with laws and regulation and fraud:
Evaluatin8 managemenvs controls desl8nÈd to prevent and detect IrTe8ularrties:
Identifyin8 and testlng journals, In partlcular any unusual items; and
Challen8in8 assumptions and judgements made by management in their critical accounting estlmates
Because of the inherent Ilmltatlons of an audft, there Is a rlsk that we will not detect all irregularities, including
those leading io a malerlal misstatement in the financlal statements or non-compliance with regulatlon. Thls
risk increases thè more that complianee wrih a law or re8ulation 15 removed from the events and tran5actlons
reflected in the financial statements, as we will be less likely to become aware of Instances of non-compllance.
The r15k Ss a150 8reater re8ardin8 Ifre8ularities occurrlng due to frnud rather than error, as fraud iThvofves
Intentional ¢on¢ealment, forgery, collusion, omlssion or mtsrepresentatlon.
A further descrlpdon of our Tespon5ibilitres for the aud￿ of the finanthil statements Is located on the Financial
Reporting Countll's websrte at.. www.frc.o
.uk18udrtor3res
Ibl￿t$. Thi5 de5CriPtlon form5 part of our
auditorf5 report.
Page 5

Use ofour report
This report is made solelyto the tharws trvstees, as a body, in accordance wlth seetion 144 of the Charltie5 Act
2011 and regLFlatlons made under sedion 154 of that Act. Our audlt work h35 been undertaken so that we mlght
stste to the charty's trustees those matters we ale required to state to them In an Audltor's report an(J for no
other purpose. To the fullest extent permitted by law. we do not accept or assume responsiblllty to anyone
otherthan the ¢hariVstrustees as a body forouraudltwork, forthis report. or forthe opinions we have formed.
Haysmaclntyrè LLP
Statutory Auditors
Date.. 16 November 2022
10 Queen Street Place
London
EC4R L4G
Hay5maclntyre LLP is ell%lble to act as an auditor in tern￿ of sedl¢)n 1212 of the Companies Art 2006
Page 6

!11-
Ilill Iialili 3

tcw

The Rochester Cathedral Trust
Notes to the Flnanclal Statements
for the year ended 31st December 2021
Account[￿ Polld•s
knls of pmparntlon of fln*Kl•l stst•rn•nts
prEparI￿ thelr In the Fwncfal ReFKrftJw st￿ In ￿￿ Rewblic of Ire￿￿ FR5 102
Ch*lt*s SORPI. The<knty Is • tQnefft￿y. The acctyJ*5 the OwrtUesN£t 2011. and r•8ulatk)Ths m•dtthweunL&.
Fknlnclal iM•ts ind Il*bllltl•#
Don•tlons
Don•tth I￿ cr•dk•d to 5ttsn•* rf fin￿da1 actrdue$ ¥¢ to the clwty. kncl￿e t
Unreltrlcttd and Restrlcted
ThÈTr￿¢ FtndCWt4 AccuffHJL#ed I￿(ffie Wrfestrfrted+￿fft￿￿￿IIffjrns 01thETr￿tdQeo.
Don8Vcms aTrJ hève dso b*n rocthd Musk Fabrt Malrrten*￿e Edwark￿ & tntwwetxlrffi Proi•tts 4Tr
credrted io rnstrIC￿ fwKL4 wlthln th¢ Stat•T*ni of FIn•rKI￿ *£tlvlUÈS, and ey%Jnuie there￿ 15 Uktr￿Se clwr8ed ro the
rtItef￿I. Any•rrKAM been for¥Ard In thè￿t￿￿•dfWd biknnc•5.
The Muslc ISpe¢W Re5trkted wa5 4subTh5W ￿ f*$• fth15 ft* the Cathedrnfs nwssc end¢)￿l￿t f￿d.
DMatlm5 r￿1*0 ir¢ overto the (ffi a L*sls fu In Incoff* frtyn the cath￿rIf5
Exp•ndlturn
EXPththt￿ lsatuwJn¢¢d fty •ccnJ45 bo%& D￿ett cosrs¥e dkK•tedvJ htsvJiw5 r* to •nd %WAYt¢osts tThdlrK•ted
tothsX• ht•dkw5 rm an uWm•tedUme
Gr•nti
Grants are recwJ5ed as exp￿rtY*hen thi Trtbt hm •k(t•d •rKI hAS ctyffftLtyIc4ted thm tothèChio•F of
R￿h6$￿(ath•th
Grnnts to Roch•rt•r Cath•drnl
2021
2020
Sw)port f¢¥mLtsIt
21.016
141.929
14341
9,982
7,371
21.[￿)0
45.683
4.423
15,084
PIn￿rIe Prdtrt
Ck>E5tw&rth
TRC￿l
K￿t &Yd
Prr4ect
T￿tyth
WebQmfvoi¢rt
Nfflh c￿reSt{xY
5roJth QUI￿c￿e
L4yCkn
Newrnllln85
Commtsnltychdr
Voc81 coachln8
SMakrg￿rtS £5,1)
32.633
o.NJo
14.360
124.160
169.120
25.650
3.031
5,712
1081
1195
12,369
S693
545
209,810
468.001

The Rochester Cathedral Trust
Notes to the Flnanclal Statements (cont'd)
for the year ended 31 st December 2021
Exp•ndStur•
Tot•1
2021
Cost of fLmdrabln8 aciwes
15.690
13.633
29.323
Grartsto R(Khe5tw CathedAI
txhor SUPPLVt cost5
Itm, reM$Jr￿?￿0n
209,811
13.633
223.444
4.884
4.884
15.690
209.811
32.150
257.651
Exp•ndltyr•
Dlr•ct Costs Grnrts
Support
Tot•1
2020
Cost of fundrnlslng atllvttles
Charmable Kl￿￿1¢5
Gr8ntstD R￿herttr Cèthtthal
9.272
9.764
19.036
46$.￿1
9.764
477,765
Audltm.
3.789
3,789
n 468001
Support costs cc4nprl* the *MI LrflktC05tsoscthtsd *tth rUn￿rythe olfvce •tGNth Hr￿&
Trurt•e$ Ind Emplt)y•
Ncffle of the tNsrees rec*¥ed any romw*raiion ¢x ￿M￿ar￿M￿# (* txpen5ts frth the Trwi th¥e ww• M emptyees dwkn8 the
year or rhe pre¢￿¥ ywi.
R•l•t•d P•rty Tr•nu¢¢loM
DoMtIMstotslling £14.493 rnade by Trww Inth¢yw.
R•strfct•d Fundi
l•l•ne• at
1$¢ J•nu•ry
2021
8•l•n¢• •t
31st D•¢•mb•r
2021
Incoml
R•wurc•%
RKou1￿ Exp•nd•d
Tf•nsf•
Muslt rthnlng costs fuMI
Fabrlc M￿ntenanCe wole£ts
Edutauon & proiecis
30.558
192,203
1.882
47,498
391.506
135.1551
136.1721
42.901
547537
IA82
224.643
439.004
171,327)
592,320
Rwtrlct•d Funth
•l•nc• at
1rt J•nu•ry
2020
B•l•rtc• •t
31st D•c•mb•r
2020
Incomlni
R•￿UrceS
Mu51c Nnnlngc05r5 fur
Fabrfe mintenarte prolttts
EduCou￿ & pr¥le<ts
25.391
289598
1.882
5&572
272.016
153.4051
1369.4111
30558
192.203
1.882
316.871
330.S88
1422.816)
224,643
Page IQ

The Rochester Cathedral Trust
Notes to the Financial Statements (cont'd)
for the year ended 31rt December 2021
2021
2020
The Muslc C•mpal
F￿￿1 Balance at 1st lanLWY 2021
New dona￿0￿ to the mU￿C C•rnpa
Interest recelved
Grnntto Cathedral Mwk Endo￿ Fu￿1
F￿)d￿l$kn8 expen5e5
144.408
45.083
(141.9291
1671
145.6831
Fthid 8alarKe at 31rt Decembw 2021