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REGISTERED NUMBER: 01171418















Chichester Cathedral Enterprises Limited

Report of the Directors and

Audited Financial Statements for the Year Ended 31st March 2024






Chichester Cathedral Enterprises Limited (Registered number: 01171418)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 7

Balance Sheet 8

Notes to the Financial Statements 9


Chichester Cathedral Enterprises Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: N Sutherland
J Harrington
J Allport
Mrs Y Thomson
The Revd Canon V Baron
Revd Canon S Holland
Mrs R Bamford
Mrs L Woodsell





REGISTERED OFFICE: Cathedral Office
The Royal Chantry
Cathedral Cloisters
Chichester
West Sussex
PO19 1PX





REGISTERED NUMBER: 01171418





AUDITORS: Sheen Stickland
Chartered Accountants
Statutory Auditors
7 East Pallant
Chichester
West Sussex
PO19 1TR

Chichester Cathedral Enterprises Limited (Registered number: 01171418)

Report of the Directors
for the Year Ended 31st March 2024


The directors present their report with the financial statements of the company for the year ended 31st March 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

N Sutherland
J Harrington
J Allport
Mrs Y Thomson
The Revd Canon V Baron
Mrs L Woodsell

Other changes in directors holding office are as follows:

Revd Canon S Holland - appointed 17th May 2023
Mrs R Bamford - appointed 19th July 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The audit will be retendered for the year to March 2025 in line with Chapters decision for the Cathedral accounts.


Chichester Cathedral Enterprises Limited (Registered number: 01171418)

Report of the Directors
for the Year Ended 31st March 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Revd Canon S Holland - Director


15th July 2024

Report of the Independent Auditors to the Members of
Chichester Cathedral Enterprises Limited (Registered number: 01171418)


Opinion
We have audited the financial statements of Chichester Cathedral Enterprises Limited (the 'company') for the year ended 31st March 2024 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 31st March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 directors' 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 company'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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Chichester Cathedral Enterprises Limited (Registered number: 01171418)


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors 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 directors determine 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 directors are responsible for assessing the company'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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- enquiry of management, those charged with governance and the entity's solicitors around actual and potential
litigation and claims;
- enquiry of entity's staff to identify any instances of non-compliance with laws and regulations;
- reviewing minutes of meetings of those charged with governance;
- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations; and
- auditing the risk of management override of controls including through testing journal entries and other
adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the
normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Chichester Cathedral Enterprises Limited (Registered number: 01171418)


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Wright FCA DChA (Senior Statutory Auditor)
for and on behalf of Sheen Stickland
Chartered Accountants
Statutory Auditors
7 East Pallant
Chichester
West Sussex
PO19 1TR

15th July 2024

Chichester Cathedral Enterprises Limited (Registered number: 01171418)

Income Statement
for the Year Ended 31st March 2024

2024 2023
Notes £    £   

TURNOVER 603,777 506,969

Cost of sales 89,327 57,190
GROSS PROFIT 514,450 449,779

Administrative expenses 352,931 322,180
161,519 127,599

Other operating income 3,302 744
OPERATING PROFIT 3 164,821 128,343

Interest receivable and similar income 1,928 525
166,749 128,868

Interest payable and similar expenses - 5,186
PROFIT BEFORE TAXATION 166,749 123,682

Tax on profit 4 100 -
PROFIT FOR THE FINANCIAL YEAR 166,649 123,682

Chichester Cathedral Enterprises Limited (Registered number: 01171418)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,398 13,591

CURRENT ASSETS
Stocks 6 31,700 25,845
Debtors 7 24,453 25,688
Cash at bank and in hand 218,953 46,074
275,106 97,607
CREDITORS
Amounts falling due within one year 8 186,609 34,757
NET CURRENT ASSETS 88,497 62,850
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,895

76,441

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 93,893 76,439
SHAREHOLDERS' FUNDS 93,895 76,441

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 15th July 2024 and were signed on its behalf by:




Revd Canon S Holland - Director



Mrs R Bamford - Director


Chichester Cathedral Enterprises Limited (Registered number: 01171418)

Notes to the Financial Statements
for the Year Ended 31st March 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and Equipment - 20% on cost and 10% on cost
Computer equipment - 25% on cost

Assets with an initial cost price which exceeds £500 are capitalised.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
The Directors are of the opinion that the company is a going concern and will remain so for a period of at least twelve months from the date of approval of these financial statements and therefore the financial statements have been prepared on that basis.

2. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 165,387 145,430

Chichester Cathedral Enterprises Limited (Registered number: 01171418)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


2. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Shop and accommodation 8 7

3. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 8,193 8,304

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 100 -
Tax on profit 100 -

5. TANGIBLE FIXED ASSETS
Furniture
and Computer
Equipment equipment Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 44,094 2,055 46,149
DEPRECIATION
At 1st April 2023 30,811 1,747 32,558
Charge for year 7,885 308 8,193
At 31st March 2024 38,696 2,055 40,751
NET BOOK VALUE
At 31st March 2024 5,398 - 5,398
At 31st March 2023 13,283 308 13,591

6. STOCKS
2024 2023
£    £   
Stock - shop 31,700 25,845

Chichester Cathedral Enterprises Limited (Registered number: 01171418)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,330 13,769
Other debtors 15,267 9,955
Prepayments and accrued income 2,856 1,964
24,453 25,688

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,917 19,327
Amounts owed to group undertakings 149,195 -
VAT 13,603 8,630
Other creditors 3,994 500
Accruals and deferred income 4,900 6,300
186,609 34,757

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

10. RESERVES
Retained
earnings
£   

At 1st April 2023 76,439
Profit for the year 166,649
Deed of covenant (149,195 )
At 31st March 2024 93,893