Company registration number 01642063 (England and Wales)
CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
5
54,401
65,969
Current assets
Stocks
46,896
46,276
Debtors
6
80,730
64,259
Cash at bank and in hand
110,354
60,923
237,980
171,458
Creditors: amounts falling due within one year
7
(185,255)
(126,293)
Net current assets
52,725
45,165
Total assets less current liabilities
107,126
111,134
Creditors: amounts falling due after more than one year
8
(26,888)
(31,342)
Net assets
80,238
79,792
Capital and reserves
Called up share capital
9
200
200
Share premium account
74,900
74,900
Profit and loss reserves
5,138
4,692
Total equity
80,238
79,792

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 May 2026 and are signed on its behalf by:
Michael Birkett
Director
Company registration number 01642063 (England and Wales)
CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Cathedral Enterprises (St Albans) Limited is a private company limited by shares incorporated in England and Wales. The registered office is St Albans Cathedral, Sumpter Yard, St Albans, Hertfordshire, AL1 1BY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Other operating income includes revenue from the company's concession partner under an agreement to provide retail food and drink and event catering. Revenue is recognised on a receivables basis in line with the income measurement and recognition criteria set out in the accounting policy for turnover and by reference to the terms of the agreement.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The r ecoverable amount of an asset is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount and an impairment loss recognised immediately in profit or loss.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
11
4
Contribution to Cathedral
2025
2024
£
£
Contribution to Cathedral includes the following:
Management fee to Cathedral
217,513
178,496
217,513
178,496
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2025
152,349
Additions
2,264
Disposals
(18,027)
At 31 December 2025
136,586
Depreciation and impairment
At 1 January 2025
86,380
Depreciation charged in the year
9,832
Eliminated in respect of disposals
(14,027)
At 31 December 2025
82,185
Carrying amount
At 31 December 2025
54,401
At 31 December 2024
65,969
CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
54,730
64,259
Other debtors
26,000
-
0
80,730
64,259
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
55,278
75,979
Amounts owed to group undertakings
43,905
10,204
Taxation and social security
32,232
20,711
Other creditors
53,840
19,399
185,255
126,293
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Deferred Income
26,888
31,342

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
200
200
200
200
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 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.

CATHEDRAL ENTERPRISES (ST ALBANS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
10
Audit report information
(Continued)
- 7 -
Senior Statutory Auditor:
Steve Robinson FCA
Statutory Auditor:
Mercer & Hole LLP
Date of audit report:
13 May 2026
11
Related party transactions

During the year the company contributed £202,414 as a donation (2024: £159,000) and £345,586 (2024: £217,513) as a management fee to the Cathedral and Abbey Church of St Alban, the company's parent entity. At the year end the company owed net £43,906 (2024: £10,204 ) to the Cathedral and Abbey Church of St Alban.

During the year the company incurred costs of £9,928 (2024: £14,537) for the purchase of books and gift items from the Fraternity of the Friends of St Albans Abbey, an independent entity wholly for the financial benefit of the Cathedral and Abbey Church of St Alban. At the year end the company owed £1,496 (2024: £518) to the Fraternity of the Friends of St Albans Abbey.

Two directors (Alan Hartwell and Michael Birkett) were employed by the Cathedral and Abbey Church of St Alban during the year. A further director, Revd Canon Kevin Walton, is a residentiary Canon of the Cathedral and Abbey Church of St Alban.

12
Parent company

Cathedral Enterprises (St Albans) Ltd is a wholly owned subsidiary of the Cathedral and Abbey Church of St Alban, an ecclesiastical corporation established for charitable purposes.

Its registered office is St Albans Cathedral, Sumpter Yard, St Albans, Hertfordshire, AL1 1BY.

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