COMPANY REGISTRATION NUMBER: N1000492
CHARITY REGISTRATION NUMBER: NIC104669
Board of The Cathedral
of St. Anne Belfast
Company Limited by Guarantee
Group Financial Statements
31 December 2024

Board of The Cathedral of St. Anne Belfast
Company Limitsd by Guarantee
Group Financial Stst8m8nts
Year anded 31 December 2024
Page
Trustees, annual report (incorporating the director's report)
Independent auditor's report to the members
Consolidated statement of financial activities (including income
and expenditure account)
Consolidated statement of financial position
12
13
Company statement of financial position
Consolidated statement of cash flows
14
15
Notes to the group financial statements
16

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Consolidated Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2024
2024
Restricted
funds Total funds Total funds
2023
Unrestricted
funds
Income and endowments
Donations and legacies
Other trading activits'es
Investment income
Other income
113,356
410,395
95,838
367,849
481,205
410,395
95,838
348,245
393,544
101,003
2,180
844,972
Total In¢omo
619,589
367,849
987,438
Expendlture
Expenditure on raising funds:
other trading activities
Investment management costs
Expenditure on charitable activities
Total expendltur
99,084
7,487
597,498
704,069
99,084
18,365
889,997
81,529
17,370
758,153
857,052
10
11,12
10,878
292,499
303,377
1,007,446
Operating surplusl(deficit)
(84,480)
64,472
(20,008)
(12,080)
Net gainsl(losses) on investments
14
51,700
75,123
126,823
71,734
Net Incomel(expenditurel and net
movement In funds
(32,780)
139,595
106,815
59,654
Reconciliatlon of funds
Total funds brought forward
Total funds carrled forward
2,086,028
2,291,007
2,430,602
4,377,035
4,483,850
4,317,381
4,377,035
2,053,248
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on
e5 16to 33forni
art of these financlal statements.
12

Board of The Cathedral of St. Anne Belfast
Company Limitsd by Guarantee
Consolidatsd Statsment of Financial Position
Year ended 31 December 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
Investments
19 1,530,445
20 3,028,701
4,559,146
1,459,684
2,840,775
4,300,459
Current assets
Stocks
Debtors
Cash at bank and in hand
21
22
9,000
267,164
178,197
454,361
11,000
79,991
372,646
463,637
Credltors: amounts falllng due wlthln one year
Net current a880ts
24
409,657
252,061
44,704
211,576
4,512,035
Total assets les8 current liabllltles
4,603,850
Credltors: amounts falllng due after more than one year
Net assets
25
120,000
135,000
4,377,035
4,483,850
Funds of the charity
Restricted funds
Unrestricted funds
2,430,602
2,053,248
27 4,483,850
2,291,007
2,086,028
4,377,035
Total charity funds
These financial ststements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 3 Aprll
2025, and are signed on behalf of the board by:
Very Rev SB Forde
Director
Dr V McKinley
Director
The notes on
es 16to 33form
rt of these financial statements.
13

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Company Statsment of Financial Position
Year endad 31 December 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
Investments
19
1,478.326
20 3,028,801
4,507.127
1,415,824
2,840,875
4,256,699
Current assets
Debtors
Cash at bank and in hand
22
330,440
135,255
465,695
201,819
288,902
490,721
Cr•dltors: amount8 falllng duo wSthln one year
Net current assets
24
389,426
235,839
254,882
4,511,581
96,269
4,603,396
Total assots less current Ilabllltles
Credltor8: amounts falllng du• after more than one yoar
Net assets
25
120,000
135,000
4,483,396
4,376,581
Funds of the charlty
Restricted funds
Unrestricted funds
2,430,602
2,052,794
27 4,483,396
2,291,007
2,085,574
Total charity funds
4,376,581
The net income for the financial year of the parent company was £106,815 (2023: net income £59,654).
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 3 April
2025, and are signed on behalf of the board by..
v (?[•
Very Rev SB Forde
Director
Dr V McKinley
Director
The notes on
es 16to33forni
art of these financial statements.
14

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Consolidated Statement of Cash Flows
Year ended 31 December 2024
2024
2023
Cash flows from operating actlvltles
Net incomel{expenditure)
106,815
59,654
Adjustments for
Depreciation of tangible fixed assets
Net gainsl(losses) on investments
Dividends, interest and rents from investments
Interest payable and similar charges
Accrued expensesl{income)
20,228
7,740
{126,823}
(71,734)
(95,838) (101,003)
2,205
2,385
19,330
14,257
Changes in..
Stocks
Trade and other debtors
Trade and other creditors
2,000
(187,173)
96,483
{5,367)
27,853
60,164
(6,051)
Cash generated from operations
(162,773)
Interest paid
Net cash used in operating activities
(2,205)
(164,978)
(2,385)
(8,436)
Cash flows from investing actlvltios
Dividends, interest and rents from Investments
Purchase of tangible assets
Purchase of other investments
Proceeds from sale of other investments
95,838
(90,989)
(377,553) (386,506)
316,450
403,749
101,003
Net cash from investing activities
(56,254)
118,246
Net increasel(d8creasel In cash and cash equivalents
Cash and cash equivalents at beginnlng of year
Cash and cash equlvalents at end of year
(221,232)
372,646
109,810
262,836
23
151,414
372,646
The notes on
os 16to 33forni
rt of these financial ststements.
15

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notes to the Group Financial Ststements
Year ended 31 December 2024
General Information
The company is a public benefit entity and a private company limited by guarantee, registered in
and a registered charity in Northern Ireland. The address of the registered office is Cathedral of St
Anne Belfast, Donegall Street, Belfast, BT12HB.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland,, the 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 {FRS 102) (Charities SORP (FRS 102)) and
the Companies Act 2006.
Accountlng pollcles
Basls of preparatlon
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities measured at fair value through income or
expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estlmation uncertainty
The preparation of the financial statements requires management to make judgements, estimates
and assumptions that affect the amounts reported. These estimates and judgements are
continually reviewed and are based on experience and other factors, including expectations of
fvture events that are believed to be reasonable under the circumstances.
Dlsclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As
such, advantage has been taken of the following reduced disclosures available under FRS 102:
(a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
Consolidation
The financial statements consolidate the financial statements of the Board of the Cathedral of St.
Anne Belfast and all of its subsidiary undertakings. The results of subsidiaries acquired or disposed
of during the year are included from or to the date that control passes.
The parent company has applied the exemption contained in section 408 of the Companies Act
2006 and has not presented its individual Statement of Financial Activity.
16

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notss to the Group Financial Statements (contlnued)
Year 8nd8d 31 December 2024
Accounting pollcles (contlnued)
Fund accountlng
Unrestricted funds are available for use at the discretion of the directors to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the directors for particular future projects
or commitments.
Restricted funds are subject to restrictions on their expenditure declared by the donor or through
the terms of an appeal and fall into one of tsvo sub<lasses'. restricted income funds or endowment
funds.
Incomlng resources
All incoming resources are included in the statement of financial actlvities when entitlement has
passed to the charity,. it is probable that the economic benefits associated with the transaction will
fiow to the charity and the amount can be reliably measured. The ftjllowing specific policies are
applied to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
when received if the value can be reliably measured. No amounts are included for the
contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
income from othertrading activities is measured at the fair value of the consideration recetved
or receivable for goods supplied and ServI￿S rendered, net of discounts and Value Added
Tax.
revenue from the sale of goods is recognised when the significant risks and rewards of
ownership have transferred to the buyer (usually on despatch of the goods)., the amount of
revenue can be measured reliably., it is probable that the associated economic benefits will
flow to the entity., and the costs incurred or to be incurred in respect of the transactions can
be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement offinancial
activities to which it relates:
17

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notes to the Group Financial Statements (continued)
Year ended 31 December 2024
Accountlng policies (continuod)
Resources expended (continued)
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
acts-vities.
other expenditure includes all expenditure that is neither related to raising funds forthe charity
nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resour￿. Direct costs
attributable to a single activity are allocated directly to that activity- Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible a8g0t8
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated
depreciation and impaimient losses.
Depreclation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic life of that asset as follows:
Motor vehicles
Office equipment
250/0 Straight line
250/0 Straight line
Depreclation has not been provided in respect of the Cathedral building (freehold propety) and
the dwelling of the Dean (long leasehold propety) because their estimated remaining useful
economic life exceeds 50 years.
Investments
Unlisted equity investments are initially recorded at cost, and subsequentty measured at fair value.
If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in
income or expenditure.
Impaimient of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. ￿+here the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount
of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit
to which the asset belongs. The cash-generating unit is the smallest identifiable
18

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notes to the Group Financial Ststements (continued)
Year ended 31 December 2024
Accountlng policies (conlinued)
Impalrment of fixed assets (c¢)ntlnued)
group of assets that includes the asset and generates cash inflows that are largely independent of
the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured 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
the stock to its present locats'on and condition.
Flnancial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to
the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
INhere investments in shares are publicly traded or their fair value can otheThvise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impaimient.
Other financlal instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
other financial instruments are subsequently measured at fair value, with any changes recognised
in the statement of financial activities, with the exception of hedging instruments in a designated
hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial activities
in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets are either
assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
19

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notes to tha Group Financial Statements (continued)
Year ended 31 December 2024
Accounting policies fcontinued)
Defined contrlbutlon plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a cash refund.
en contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on
discounted present value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
Llmlted by guarantee
The company is registered as a charity with the Charity Commission for Northern Ireland.
The company is limited by guarantee, not share capital. In the event of the company being wound
up, every member of the company is liable to contribute a sum not exceeding £1.
Donatlons and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Donations
Cathedral collections
Sit-out donations
Stewardship giving
Donations and bequests
Choir fund income
Commercial and fundraising income
16,742
16,742
226,594
62,317
150,569
6,375
18,608
226,594
62,317
26,314
124,255
6,375
10,625
367,849
7,983
113,356
481,205
Unrestricted
Funds
Restricted Totsl Funds
Funds
2023
Donatlon8
Cathedral collections
Sit-out donations
Stewardship giving
Donations and bequests
Choir fund income
Commercial and fundraising income
8,325
8,325
174,372
53,982
108,803
174,372
53,982
68,623
40,180
2,763
2,763
348,245
133,693
214,552
Restricted and unrestricted grants and donations received during the 2024 year include the
following..
£15,000
£4,000
Church of Ireland RCB Priorities
Ouseley Trust
20

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantse
Notes to the Group Financial Statements (continued)
Year ended 31 December 2024
Donations and legacles (contlnued)
Restricted and unrestricted grants and donations received during the 2023 year include the
following-.
£21,000
£10,000
Billy Adair Music Fund
Joseph Orr Bequest
other trading actlvlties
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Car park rental
Office rental
Shop sales
Admission sales
Event income
other income
209,460
14,766
15,858
55,453
114,358
500
209,460
14,766
15,858
55,453
114,358
500
410,395
410,395
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Car park rental
Office rental
Shop sales
Admission sales
Event income
Other income
208,963
12,000
15,907
44,956
110,884
834
208,963
12,000
15,907
44,956
110,884
834
393,544
393,544
Investment Income
Unrestricted Total Funds Unrestricted Totsl Funds
Funds
2024
Funds
2023
Income from listed investments
95,838
95,838
101,003
101,003
Other Income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Other income
2,180
2,180
21

Board of The Cathedral of St. Anne Belfast
Company Limitad by Guarantee
Notes to the Group Financial Statements (continued)
Year endad 31 December 2024
Other trading actlvltles
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Direct cost of sales
Salaries and pension
Establishment costs
Management costs
Other administration costs
Support costs
15,608
22,513
26,563
10,584
22,016
1,800
15,608
22,513
26,563
10,584
22,016
1,800
9,864
21,193
26,688
9,104
12,930
1,750
9,864
21,193
26,688
9,104
12,930
1,750
99,084
99,084
81,529
81,529
10. Investment management costs
Unrestricted
Funds
Restricted Total Funds
Furbds
2024
Investment management fees
7,487
10,878
18,365
Unrestricted
Funds
Restricted Totsl Funds
Funds
2023
Investment management fees
7,081
10,289
17.370
11. Expendlture on Charltable actfvitles by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Salarles and pension
Establishment costs
Other administration costs
Cathedral Sit-out
Support Costs
380,414
129,686
74,234
16,600
23,618
25,687
226,594
397,014
153,304
99,921
226,594
13,164
889,997
13,164
597,498
292,499
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Salaries and pension
Establishment costs
Other administration costs
Cathedral Sit-out
Support costs
293,804
168,863
96,463
293,804
170,465
110,812
174,372
8,700
1,602
14,349
174,372
8,700
567,830
190,323
758,153
22

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notes to the Group Financial Statements fcontinued)
Year ended 31 December 2024
12. Expenditure on charitable actlvltles by activity type
Activities
undertaken
directly Support costs
Total Funds Total Funds
2024
2023
Salaries and pension
Establishment costs
Other administration costs
Cathedral Sit-out
Govemance costs
397,014
153,304
99,921
226,594
397,014
153,304
99,921
226,594
13,164
293,804
170,465
110,812
174,372
8,700
13,164
13,164
876,833
889,997
758,153
13. Anatysls of support costs
Governance
costs Total 2024 Total 2023
Other trading activities
Expenditure on charitable activities
1,800
13,164
1,800
13,164
1,750
8,700
14,964
14,964
10,450
14. Net galn81(losses) on investments
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Gainsl(losses) on listed investments
Gainsl(losses) on listed investments - unrealised
19,556
32,144
51,700
28,415
46,708
75,123
47,971
78,852
126,823
Unrestricted
Funds
Restricted Totsl Funds
Funds
2023
Gainsl{losses) on listed investments
Gainsl{losses) on listed investments - unrealised
26,229
3,014
38,113
4,378
42,491
64,342
7,392
29,243
71,734
15. Net incomel{expenditure)
Net incomel(expenditure) is stated after chargingl(crediting)'.
2024
2023
Depreciation of tangible fixed assets
20,228
7,740
23

Board of The Cathedral of St. Anne Belfast
Company Limitsd by Guarantee
Notes to the Group Financial Statements (condnued)
Year endad 31 December 2024
16. Auditors remuneratlon
2024
2023
Fees payable for the audit of the financial statements
14,964
10,450
Fees payable for other non-audit services
3,990
4,320
17. Partlculars of employees
The total staff costs and employee benefits ft)r tt)e reporting period are analysed as follows:
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
385,890
17,350
18,227
283,359
13,538
18,100
314,997
421,467
Redundancy payments in the reporting period were £Nil {2023 - £5,000).
The average head count of employees during the year was 9 (2023.. 71. The average number of
full-time equivalent employees during the year is analysed as follows:
2023
No.
2024
No.
Clergy
Music staff, Organists & Choir tutors
Sextons
Administration staff
Welcome desk
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
18. Trustee remuneratlon and expense8
During the year the following trustees re￿iVed remuneration and pension contributions as
employees..
The Very Reverend S.B. Forde received remuneration of £58,000 (2023: £55,971) and pension
contributions of £13,338 (2023: £15,225).
The Reverend C. Mack received remuneration of £17,360 (2023.. £Nil) and pension contributions
of £89 {2023.' £Nil).
No trustees received remuneration or pension contributions as trustees.
No trustee expenses have been incurred.
24

Board of The Cathedral of St. Anne Belfast
Company Limitsd by Guarantee
Notes to tha Group Financial Statements {¢ontinued)
Year ended 31 December 2024
19. Tangible fixed assets
Group
Long
Freehold leasehold
propety
property
Motor
vehicles Equipment
Total
Cost
At 1 January 2024
Additions
Disposals
At 31 Decembor 2024
1,400,901
14.923
34,100
173,203 1,623,127
90,989
90,989
(34,100)
264,192 1,680,016
(34,100)
1,400,901
14,923
Depreciatlon
At 1 January 2024
Charge for the year
Disposals
At 31 December 2024
34,100
129,343
20,228
163,443
20,228
{34,100)
149,571
(34,100>
149,571
Carrying amount
At 31 December 2024
1,400,901
1,400,901
14,923
14,923
114,621 1,530,445
43,860 1,459,684
At 31 December 2023
Company
Long
Freehold leasehold
propety
propety
Motor
vehicles Equipment
Total
Cost
At 1 January 2024
Additions
Disposals
At 31 December 2024
1,400,901
14,923
34,100
8,304 1,458,228
73,532
73,532
(34,100)
81,836 1,497,660
(34,100)
1,400,901
14,923
Depreclatlon
At 1 January 2024
Charge for the year
Disposals
At 31 December 2024
34,100
8,304
11,030
42,404
11,030
(34,100)
19,334
(34,100)
19,334
Carrylng amount
At 31 December 2024
1,400,901
14,923
62,502 1.478,326
At 31 De￿rnber 2023
1,400,901
14,923
1,415,824
25

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notes to the Group Financial Statements (continuedl
Year ended 31 December 2024
20. Invèstments
Group
Llsted
investments
Cost or valuatlon
At 1 January 2024
Additions
Disposals
Fair value movements
2,840,775
377,553
(268,479)
78,852
3,028,701
At 31 December 2024
Impalmient
At 1 January 2024 and 31 Docomber 2024
Carrylng amount
At 31 December 2024
3,028,701
2,840,775
At 31 December 2023
Company
Shares in
Listed
group
investments undertakings
Total
C08t or valuation
At 1 January 2024
Additions
Disposals
Fair value movements
2,840,775
377,553
(268,479)
78,852
3,028,701
100
2,840,875
377,553
(268,479)
78,852
At 31 December 2024
100
3,028,801
Impalrment
At 1 January 2024 and 31 December 2024
Carrylng amount
At 31 December 2024
3,028,701
2,840,775
100
3,028,801
At 31 December 2023
100
2,840,875
The aggregate market value of listed investments is £3,028,701 (2023: £2,840,775).
Listed investments are recorded at market value. Shares in subsidiary are recorded at cost less
impairment.
21. Stocks
Group
2024
2023
Finished goods and goods for resale
9,000
11.000
26

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantse
Notes to th8 Group Financial Statements (ct>ntinuedJ
Year ended 31 December 2024
21. Stocks (continued)
Company
The company has no stocks.
22. Debtors
Group
2024
2023
Trade debtors
Other debtors
67,491
199,673
61,290
18,701
79,991
267,164
Company
2024
2023
Amounts owed by group undertakings
Other debtors
135,015
195,425
330,440
187,624
14,195
201,819
23. Cash and cash equlvalents
Group
Cash and cash equivalents comprise the following..
2024
2023
Cash at bank and in hand
Bank overdrafts
178,197
(26,783)
151,414
372,646
372,646
Company
Cash and cash equivalents comprise the followlng..
2024
2023
Cash at bank and in hand
Bank overdrafts
135,255
(26,783)
108,472
288,902
288,902
27

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notss to the Group Financial Statements (continued)
Year ended 31 December 2024
24. Creditors: amounts falling due wlthin one year
Group
2024
2023
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
Social security and other taxes
Other creditors
56,783
20,438
80,g72
23,367
228,097
409,657
15,000
188
61,642
20,678
154,553
252,061
Company
2024
2023
Bank loans and overdrafts
Accruals and deferred income
Social security and other tsxes
other creditors
56,783
74,889
9,657
228,097
369,426
15,000
61,642
8,695
150,502
235,839
25. Creditorn: amounts falling due after more than one year
Group
2024
2023
Bank loans and overdrafts
120,000
135,000
Loans include instalments due after more than five years of £30,000 (2023.. £52,500).
Company
2024
2023
Bank loans and overdrafts
120,000
135,000
Loans include instalments due after more than five years of £30,000 (2023.. £52,500).
26. Penslons and other post-retlrement beneflts
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £18,227 (2023: £18,100).
28

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notss to the Group Financial Ststements (conllnued)
Year ended 31 December 2024
27. Analysls of charitablo funds
Unrestricted funds - group
At
1 Jan 2024
Gains and
At
losses Transfers 31 Dec 2024
Income Expenditure
Parochial
account
Building and
Development
Fund
Belfast
Cathedral
Enterprises
Limited
(312,014) 150,361 (584,186)
23,782 311,311
(410,746)
2,397,588
58,833
(20,799)
27,918
2,463,540
454 410,395
(99,084)
2,086,028 619,589 (704,0691
{311,311)
454
51,700
2,053,248
At
1 Jan 2023 Income Expenditure
Gains and
At
losses Transfers 31 Dec 2023
Parochial
account
Building and
Development
Fund
Belfast
Cathedra5
Enterprises
Limited
(298,133) 163,481
(502,829)
13,452 312,015
(312,014>
2,380,484
73,395
(72,082)
15,791
2,397,588
454 393,544
(81,529>
(656,440)
(312,015)
454
2,082,805 630,420
29,243
2,086,028
The Building and Development Fund includes £280,000 from the sale of the vicarage in 2018.
Unrestricted funds - company
Gains and
At
losses 31 Dec 2024
At 1 Jan 2024
Income Expenditure
Parochial account
Building and
Development Fund
{312,014}
461,672
(584,186)
23,782
{410,746)
2,397,588
2,085,574
58,833
(20,799)
{604,9851
27,918
2,463,540
2,052,794
520,505
51,700
29

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantsa
Notes to the Group Financial Statements (contlnued)
Year ended 31 Decembar 2024
27. Analysis of charitable funds (continued)
Unrestricted funds - company (cl￿11nUed)
Gains and
At
losses 31 Dec 2023
At 1 Jan 2023
Income Expenditure
Parochial account
Building and
Development Fund
(298,133)
475,496
(502,8291
13,452
(312,014)
2,380,484
2,082,351
73,395
548,891
(72,082)
(574,9111
15,791
2,397,588
29,243
2,085,574
The Building and Development Fund includes £280,000 from the sale of the vicarage in 2018.
Re3trlcted funds - group
Gains and
At
losses 31 Dec 2024
At 1 Jan 2024
Income Expenditure
Specific Parochial
Purposes Fund
Choir Fund
Sit-out Fund
Billy Adair Music Fund
Chair Fund
Joseph Orr Bequest
Fabric and Development
Fund
Ouseley Trust
2,259,455
(7,838)
75,123
2,326,740
6,375
6,375
226,594
(226,594)
(6,798)
(11,030)
14,399)
19,960
4,270
5,582
13,162
62,502
1,183
69,262
1,740
61,618
4,000
(46,718)
16,640
4,000
2,291,007
367,849
(303,377)
75,123
2,430,602
Gains and
At
losses 31 Dec 2023
At 1 Jan 2023
Income Expenditure
Specific Parochial
Purposes Fund
Choir Fund
Sit-out Fund
8illy Adair Muslc Fund
Chair Fund
Joseph Orr Bequest
Fabric and Development
Fund
Ouseley Trust
2,234,576
(17,6121
42,491
2,259,455
174,372
21,000
4,270
12,300
(174,372)
(1,040)
19,960
4,270
5,582
(6,718)
2,610
{870)
1,740
2,234,576
214,552
{200,6121
42,491
2,291,007
30

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notes to th8 Group Financial Statements (continued)
Year ended 31 Dacember 2024
27. Analysls of charitable funds (contlnued)
Restrlcted fund8 - company
Gains and
At
losses 31 Dec 2024
At 1 Jan 2024
Income Expenditure
Specific Parochial
Purposes Fund
Choir Fund
Sit-out Fund
Billy Adair Music Fund
Chair Fund
Joseph Orr Bequest
Fabric and Oevelopment
Fund
Ouseley Trust
2,259,455
(7,8381
75,123
2,326,740
6,375
6,375
226,594
(226,5941
(6,7981
(11,0301
(4,399}
19,960
4,270
5,582
13,162
62,502
1,183
69,262
1,740
61,618
4,000
367,849
(46,718)
16,640
4,000
2,430,602
2,291,007
(303,377)
75,123
Gains and
At
losses 31 Dec 2023
At 1 Jan 2023
Income Expenditure
Specific Parochial
Purposes Fund
Choir Fund
Sit-out Fund
Billy Adair Music Fund
Chair Fund
Joseph Orr Bequest
F8bric and Development
Fund
Ouseley Trust
2,234,576
(17,612)
42,491
2,259,455
174,372
21,000
4,270
12,300
(174,372)
(1,040)
19,960
4,270
5,582
(6,718)
2,610
(870)
1,740
2,234,576
214,552
(200,6121
42,491
2,291,007
28. Analysis of net assets b8tweon funds
Group
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Investments
Other net asset5
1,467,943
1,234,694
(649,389)
2,053,248
62,502
1,794,007
574,093
1,530,445
3,028,701
(75.296)
4,483,850
Net assets
2,430,602
31

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarante8
Notes to the Group Financial Statements (c¢￿tInued)
Year anded 31 December 2024
28. Analysis of net assets between funds (contlnued)
Group (contlnued)
un￿strICted
Funds
Restricted Total Funds
F.unds
2023
Tangible fixed assets
Investments
Other net assets
1,45g,684
1,158,083
(531,739)
2,086,028
1,459,684
2,840,775
76,576
1,682,692
608,315
2,291,007
Net assots
4,377,035
Company
Unrestricted
Funds
Restricted Totsl Funds
Funds
2024
Tangible fixed assets
Investments
Other net assets
1,415,824
1,234,794
{597,824)
2,052,794
62,502
1,794,007
574,093
2,430,602
1,478,326
3,028,801
(23,731)
4,483,396
Net assets
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Investments
Other net assets
1,415,824
1,158,183
(488,433)
2,085,574
1,415,824
2,840,875
119,882
4,376,581
1,682,692
608,315
2,291,007
Nat asset8
29. Analy8ls of change8 In net debt
At
At 1 Jan 2024 Cash flows 31 Dec 2024
Cash at bank and in hand
Debt due within one year
Debt due after one year
372,646
(15,000)
(135,000)
222,646
(194,449)
(15,000)
15,000
(194,449)
178,197
130,000)
(120,000)
28,197
30. Relatod partles
Group
Wlth key management personnel
Key management personnel are the persons in the senior management team to whom the trustees
delegate day-to-day management of the charity. Paid compensation for services provided totalled
£95,722 (2023 - £76,657)
32

Board of The Cathedral of St. Anne Belfast
Company Limited by Guarantee
Notes to tha Group Financial Statements (continued)
Year ended 31 December 2024
30. Relatod parties (continued)
Company
With Belfast Cathedral Enterprises Llmlted
Relationship - Belfast Cathedral Enterprises Limited is a wholly owned subsidiary.
Nature of transactions during the year:
2024
2023
Donations from the related party
Amount owed by the related party at 31 December
311,311
135,015
312,015
187,624
Outstanding balances are unsecured and Interest-free.
Wlth key management personnèl
Key management personnel are the persons in the senior management team to whom the trustees
delegate day-to-day management of the charity. Paid compensation for services provided totalled
£95,722 (2023 - £76,657).
31. Subsidiary undertaklngs
The financial statements include the results of the following subsidiary undertaking for the year
ended 31 December 2024.
Belfast Cathodral Enterprl8e8 Limlted
Company ￿giStratIon number:
Nature of control..
N1044805
The company is a wholly owned subsidiary of Board of the
Cathedral of St. Anne Belfast
Gross income..
Total expenditure..
Net income for year:
£410,395
£410,395
£Nil
Gross assets:
Total liabilities-
Net assets..
£175,800
£175,246
£554
32. Ethlcal standards
In common with many other entities of our size and nature, we use our auditors to assist with the
preparation of the financial ststements.
33