THE ROCHESTER CATHEDRAL TRUST Registered Charity Number 291616 TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER2023 The Rochester Cathedral Trust Trustees and Advisers TrustOV¥ Mrs Kate Fgnwick DL (Chairmanl 8ri9 Nicholas Bavey5tock Can(m Chri5 Dtsnth The R•fd Canon Ralph Gods811 Mrs Sue Hart Very Revd Dr Phllip J Hesketh DL Canon Paul Hudson Mr Lws LemonSus Mrs Rémony ￿1[Water r Rich8*d Oldfi￿d OBE. DL Mr Ru55ell Racè DL Canon Victtsrla Wallac8 DL Mr David Ward Mr Jafflè& Williams Mr Michael WorAdrit*Je Sw David Wootton Trust's Royal P*on Royal Patron.. HRH The D￿he88 of Edinburgh GCVO TN$V$ Mu$l¢ Patron Muslc P8t￿n.. Mr Jods Holland OBE, DL VIC8 Patrons Ice Patron: LadyCobJran. Lord L*utènBnl ol Kent Vice Palrtsn". Professor Simon Heffei Vico Palrcn.. Mr Rory Sutwand D•v•lopM￿l Offleo Garth +k)use The Precinct Rochesler K¢nl ME11SX Bankers (Until Juno 20231 Nalon81 W681minst8r B8nk plc 148 H*Jh Stregt Chatham Ként ME440B Bankgrs (From June 20231 CAF Bank Ltd 25 King'5 Hill A¥&nue ngs Hlll Wesl Maliry Kenl ME19 4JQ Indep8rKlenl Exaffliner Moore Kingst￿ Smith LLP g Appold Street Lon¢Jon EC2A 2AP Soli¢i¢gTS Le& Boxon Monierwilliams 1 The Sonc￿ary Westminster London SW1 3JT P8g8 1 The Ro¢hgst•r Cathedral Trust Tru5to•$' Annual Report lor the Year ended 31st Decembor 2023 Tho Try619oskne plcaswo I￿11 rgport¥d tho fi￿n￿l￿ utatomirts of Rock¢8t¥C¥hÈdMITrusl(tr*'fDAn rw fv ￿81 31SlDqCeTnb￿2023.Ttr￿sv Èn prep4rad th accortta￿ cwrent ¥t￿￿rt￿p& i¢Eai OunduYSOdW. Evefits knds and fostw re￿i*l￿￿1￿5 with V edr¥lar￿ ￿l￿fOr￿ Iieg ure￿r￿. GU￿￿50&￿ty is S￿3￿￿￿ri￿￿baSBé a ret￿rtr￿ r•Vorn￿trrfty*Twt. Mwtsft￿ alè Inkwj to SOc￿ly. arws to 10% of h r¥Èr￿ts m?m09rs. SDciety k ehakéd by L4￿ Evpvts by5￿ Wrt. T￿T￿j51•￿￿ F*undoNor* Cornmrtlee rffir¥¢ts ar* kndatpJD wsrn IrduOngvKthy ghd Its mah Th￿tr￿￿￿È# ai• sup￿ed by 3 01￿c￿p￿tranS Lady Cdyi¥irK LutdU*tsr￿to1Kq￿( SIT￿ Heffw. w0rtthbTn￿1kn Tho Rochester Cathedral Trust T￿￿tee$. Annual Report for the Year ended 31st Dècember 2023 IMPLEMfNnNGTHETRU8f$wJEcYNes rewt￿l wi(K1. th• Tn￿le￿ fflet ¢rr*SKrt4 bsMd ￿ U* r￿￿Bts fLY m*dè ty h) DèLn cn¥tsr, d￿￿[Sodf￿I11 4$ r¢quIF4 ￿lI￿VAlh￿ CalLgdr*% Rtyalrollh•kl•dlvv41 ¢ttyW4t S￿l￿¢rihts b¢PA*gDKkg'S Otthard cd*•s¢rwi I)N￿embe￿ ￿?2. I￿￿esi¥￿￿5 rèv*È￿th￿t{%ttty1l•￿$ oltth w*1 ￿T0 argo b) r*0 tyl1￿1r Tr￿￿￿31 slonp wk In SepternbEr 2023an¢ Of ¢¢mpkndln 2021 Ig i¢tyottherepaks ID4wth*dy£t17K W￿d. Tv$¢rnar￿ and Cxa Ntr*screens elteL*w (¥my￿k￿l￿th•C￿hdr￿￿i￿$knt4¢¢si*I£38k.knfkhtM Tr￿tf￿r￿d1￿ts F￿￿d. North DrKrfPavlnB p•￿￿01&und￿NT(M•ranOc1h•r knr of lkndL• Trywyr cEkn￿[￿ Itaff offke gctomrnlld*ion TN#t ￿ I<* and totalng £Sk. I￿s￿rg NOrthL￿ tho Eryino*$ l•k￿9￿&1L*￿tOÉls￿ LuftttT¥3yst•m Th￿T￿<￿￿L￿dE￿kty)th* pWtOf1￿l1¢￿d ¢h￿TradI￿Tr TM fN&l C￿lI￿L￿ to •¥•cttw• of F￿d uf £3mkn Chtsr ar￿ £th￿m￿lIV cath•dr￿ ¢Jvthn$ toml￿FI 2023. InoXt¢s$ofEWk in6vpwioltrdslr&th. SI￿￿￿￿T￿#t Ev•nL* In2025 r•pNlThJ th• T¢u¥iee¥ 4w**Éd num0￿5 Tor CLYrenl wort ofhk CathRdl*L D￿rv4 2023 ftlOSt S￿rIf￿￿ spor¢ty BWkO*T Thè fr￿ t&S113tod ISM D* tth thlkaral- ￿e'N￿tiL￿g TBbkn'. SW orthE4. 22r¢ Wl. fvT atirk*dwr*TaS￿r¥ E￿1rffj hwiod tythèTVw¥sénbrJDt FO￿01￿. GdlDay¥¢ Rv¢wr& Cabhaffl a￿1 C￿b Ob 11yil¥tsy. a dayol lLrthWo￿￿￿1r￿Z1dby￿TlU5*￿1u￿XtQflhèeaI1oI￿¥I$9r4W&PfO￿e¢l ThO￿aUS9r￿a1 wjand In ￿•s$U0￿1*partK In￿ d&y.ThB d¥y A r4M* and &7￿. Mw• DlnnEr On 14th N￿•￿b*r, ts TnTht b*k49 Ihw N￿. Aji ia0*6 ￿tr*eVer¥f¥a 91t*s￿¢•i& Guests ontqrtafvdbyFapJSM￿hantsts cattmd1￿.S{￿re￿t¢lo1th￿k.Th• NJv• Thrfi•rv4BS p￿1P￿l￿1￿a￿dthE r￿s(ry s￿￿. TNNI. Ru(th¥1￿, InApS1. 4 garden re￿I￿n￿tY0ke3 t￿rt ￿ F￿*t•d. Kvrlin Jwe. anv￿nIng thoTo%iuB by rerw*d lfft S*ptwnber. SodBly CW RorgptsD w49 In Ocltsbar a Lalk by ￿ h*t01￿￿ Holtor. ITh low TIL¢i £W.916 I20￿. £80.8991 ytor *) 3181 D￿•M￿r 2023 ￿ vAPpna￿ e2è3.OD4 12022.. É4932ts51 to Calhotral wl4(¢8 Ib* w. Th) ac1r￿sar¥ rotodEiW. The RoGhestfrr Cathèdral Trus1 Trustees. Annual R•port for the Year ended 31st December 2023 Allhw s(rttr¢Ès ￿{f￿dI￿ ofthg TnJst4r•froniithè*¥O aThJ#m*i ogrth Thp Try￿1.5 ato I8srfcied a5(hyVS SWrt cthdrglwts1ec￿. Ortythe Of￿10￿trkt￿ rfjseryesowkndky hasbeefi sKurWJ. Th• Tr￿t8￿S C[XLs￿i*d UATr rxY<%rn bEEn In th• of CLryfont Ibv¢i ¢1 Lm#rktsd Th￿T￿￿t*￿st￿¥* Tr@0•￿. Public *t4mpnl Thè Trn￿•e5 corfINTr crfflpfjEd **h duty In 1T ol Ara 2011 to re9ard to by Owty th•act￿9 ￿￿kÈntsythB￿ha￿lty. $WjP￿é￿akOn bytho SW. ev￿￿]1￿. ￿¥￿￿g•st￿Yh rwomonts n¥wSrry SclKD14I*ty¢ ProlwL Th&Trwi f¢r b¢th•ndmIImnbr￿fyTr Swlhoc￿d In Ka8avors ILTrfompv*1h¢s*sUccessfthiDai¥r￿YIasNQn AS kn*. 7Th￿t ks to Il* ¥¢lvAlks of Roch￿( Wlch #iJK4. Th Chapkr. w+iGhvJ body DI has 8 of TIL￿ io TILryt rMmb&7 olChgpi¢t. PDth05tPrC?I￿dr￿I In $I•*Th￿nIS t(LE Iwr wth¥. IhJ $hW fdltrw but wocb¢¢ $ullaL4w poli¢kn& thwn c(wtsi•fftty. ofllig chFrtbts' 50RP.' maké jtymorts ¢91hm?ies Ihat reBx¥th pithfflL s14lE O¢VJyDlro of ithnmÈndod pr*ke lokn¥bd, 5u*e¢ttoary(Wthroy eypk4inad Étatén*rts. a￿d pTppaigthpfirwK4qls￿l0rn￿nts gdT¥ cofflumb45ii il * ￿#pr￿T￿tetQ￿5UThQ th01t￿c￿rtyYfiIl lntyéra￿on. rOYedtyytsTr￿t01$ on Page4 Indapendent Examinerfs Report to the Trustees, of The Rochester Cathedral Trust I reportto th8 TNst888 on my ex8rnin8tion ofthe a¢tounts Rochester Calhedral Trust Ilhe'charilfl for tho y6ar ended 31 D8c4mbor 2023. Responsitsilities and b4$1$ of r•port As the charity ttuslees you are responsible fof thè woparauon of the accounts In ac￿rdance with the requir8fflont5 of Ihe Charilies Acl 2011 I'ihe Atti. I report in respect (>f rry examination ol the Charitys accounts carried out under Section 145 of the 2011 Act and in carrying t my examination I have followed all the applicable Dliedons given by the Charity Commission under section 14515llbl of the A¢1. Ind8pendent examinefs statement I have complel&d my 8xaminat￿n. I confirm that no materi81 matters h8ve coymè tts my attents￿ in ¢onn&ebon with th& ex8minabon giving me cau8e to beliave that in any materfal respect.. 1_ accoun￿￿9 record5 W8r8 not kept in resp8Ct of tha Charity as required by section 130 01 Ihe Act. or 2. th• a¢Gounts do no¢ accord with those record5', or 3. the a¢¢ounts do not comply with Ihe applicable requiroff￿nts ¢orK8rniThJ the lom) and conlenl of acc￿nts Set out i the Charities IAccounts and Reports) Regulations 2008 other Ihan any requirement that the accouThtS give a'true arLd f8ir whKh is not a matter Gon$idered as part of an independent examinatK>n. I have no concerns and hav0 ¢omo a¢r0$8 no 0th8r matters in conn8Ction wilh the examinatiw to which atten￿0Th should be drawn in th1$ report in order lo anab￿ a pvoper understanding of the acLounts to be reached. lam Fullerton IFCA DCW For and on behalf of Moor8 Kingston Srnith LLP 9 Appold Street London EC2A 2AP Dale: Page 5 Th8 Rochester Cath•dral Trust st￿&￿&nt of Flnanclal A¢llvltlds for the year endad 31st 00¢ember 2023 Unr•slrlrlad Furtds Fund& 1023 R4•1rkt•d Fund Th•Nu•l¢ FundB Fwndy c•ai¥n Fknhds 22 4ffj91 54,485 224.691 13).867 17,7 47.W 43.194 7È.￿2 41.F51 27&1 E*p*￿IlUr*on". 9,(*1 $3 Cha￿￿%1*EXpe￿￿IW4 218.57T 218.5TT 20.058 468. 2.£28 2.e28 To 4>J fwlh•yu .531 74912 (Z312) 14W3JS1 T￿￿18rd 147.1*1 47.1 OWS7Y 76.912 3111 14P73Y6> 701MS Fufid¥ Cwrbd 37 110 7 Tho Rochester Calhedral Trust Balance Sheet as at 31 Oecembor2023 IJnm￿¢tsd R•¥triGt•d ThÈ Funds Fur Campa￿n 2Q22 OO￿Or. GiftAvJr* Comrd BO¥dOT F￿￿￿* OeFQSrt F￿r*ACc￿r NO￿W￿l¥￿￿&tÈr Bèr ¢uirenl 2.758 .443 .451 14Q351 135.A94 135.gP4 148.845 113,216 262.Q61 1fj7,004 214.885 1￿*45 153,XT 402A12 I￿,762 1•7.588 L•**:LlabUttJ• s￿ry¢re￿￿or$ {￿249} {1.$311 121,7501 l¥d.5021 CotWrd 11T.ZIQ iB2.401 Fythdi 117.260 182461 71rffm Part￿th￿l0 acts)L￿￿ TTutsi￿ on Ttu$tq• 07 The Rochester Cathedral Trust Notes to the Financial Statements for the year ended 31st December 2023 Accovntlng PollcEo5 BasS8 of prepardtlon olflnanclal statemènts The financial statements have been ￿pared in acccydance wilh the Statement ol Re¢ommended Practice applicalAe to charities preparing their accounls in a¢¢ordance with th8 Finanaal Reporbng Standard applicable in the UK and RepulAic of Ireland (Tho FRS 102 Charities SORPI- Th8 chanty 15 a public benefit entty. Tho accounts Compty with the Charitias Act 2011, and regulatK)ns made Ihereunder. The Twstee$ COn￿der It appropriate to pwpare Ihe account5 on a gthng ¢oncem basis. FlnanGlal a$$èts and Ilabllltles l as38ts and liabilities are init￿allY measured al wst or transa¢tion v81ue. Thw8 are no items requiring subsequent rem8asurement atfalr valu8. Donation$ Donali¢)ns are credited lo the slaterrÉnt of finandal activit￿ whon thay are made 8v8llablo to Ihe charity. Donatbr Include the ￿lated tax ¢redil where aprliLxble. Unrostricted R￿tr1d•d Fund$ The Trust Fund Capital A¢tumulated lThcome Funds are unrestricted wlthln lh8 g8noral tem)$ of the Tru8t deed. Donations and grants hav8 also been received for Musie Running Gosts, Fabric Maintgnano and Education & Inlerpretatic Prol8cls and are credited to restricted funds ￿thin the Stalement of Flnancial Aclivilies. and expenditure thereon is likevll5e charged to the appropriale fund. Any alr￿Unts have not been Spent during the yaar are carrN8d forward In th• restricted fund balances. Thè thjsic Carnpaign ISpeci81 Restricled Fundl was established to rai$8 fund8 for the Cathgdrdfs pennanent music endowment fund. Donation$ raised are paid over to Ihè Cathedr81 on a regular basss lor investment in Ihe endowmanl fund. Income from the Cathedral's music endobvrnent fund 1$ expended towards the costs of Ihe mu$l¢ d8partThnL Expendilure Expenditure is 8ccounteé foron an accnjals basi6. Oirect costs are alloGate¢J lo th& headirvJs thay relate to. and support costs a￿ alkxated to thosè headlngs on an estlmatod Ilme bèsis. Grants Grant5 are reeognised as oxpendilure th8n the TtUSt has elected tts make a grant and ha5 comtr4JnieAt8d that Intent￿Tr to the Chapter of Rochestor Cathedra. Page 8 Thè Rochegter C*th•dral Trust Not￿ tr• th? Flnandal Statements I￿nt'd> for thg y93r •ndèd 31st Decomber 2023 2ro3 ctyw TV Scteeny•* Cqw CCTV DMrPw {￿L￿￿T￿￿er 89,488 21,X4) 16,WQ lI,￿j 18Q.I ioo.ro) 41,292 4S.700 21.￿0 9¢ ThapsGok Fthd .000 9.684 ID.480 21a,57T 451.￿ J ExpMdl*J Support DW 218.577 ,94 L¥.525 12.720 2,433 15.153 Ley1&Wofe5￿￿ll￿ 26 25 40,r*8 24.331 r4ct¢Ht• Suppllrt T*w 874 14.F35 458,930 I3,￿1 4n.T91 h*J*£7,ri)Dfoi2D23 And È6,720from2022. jrwluThto￿ t138.997 I2022"£14.4￿iW1tOrn￿EbIT￿￿teU ? Funds In¢othlng 12.7 117.63B 241.162 È3,312 $49 1.882 260.79$ 47,1S6 24U.O 31&10*¢•fi￿ 4Z.*I s47.￿1 1.582 17.1¥2 12.041 29.145 140B.15DI 1.182 6&2 IB14 3023 8 Th•*J•l¢C•nwi4n at lEtJ￿￿*￿S Q￿pa￿ 2.J12 17.784 7 e•nl1ng￿f p￿4