ACCOUNTS - Final Accounts preparation

Registered number: 01868645

EXETER CATHEDRAL ENTERPRISES LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

EXETER CATHEDRAL ENTERPRISES LIMITED

REGISTERED NUMBER:01868645

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		104,603		126,158
			104,603		126,158
Current assets
Stocks		48,817		43,304
Debtors		45,984		17,753
Cash at bank and in hand	6	522,937		247,256
		617,738		308,313
Creditors: amounts falling due within one year	7	(539,104)		(229,716)
Net current assets			78,634		78,597

Net assets			183,237		204,755

Capital and reserves
Called up share capital	75,721	75,721
Profit and loss account	107,516	129,034
	183,237	204,755

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Jonathan Greener

Director

Date: 30 June 2026

The notes on pages 2 to 5 form part of these financial statements.

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EXETER CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	GENERAL INFORMATION

Exeter Cathedral Enterprises Limited is a private company limited by shares incorporated in England & Wales. The registered office is as shown on the company information page.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

GOING CONCERN

The directors have reviewed the Company's liabilities over the next 12 months and considers the business to be a going concern. The parent undertaking will continue to support the Company as required along with steps being taken by management to ensure that all financial commitments can be met when they fall due.

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

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EXETER CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.5

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	4 years
				Christmas market fixtures and fittings	-	6 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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EXETER CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 30 (2024:15).

4.	TANGIBLE FIXED ASSETS

	Fixtures and fittings	Other fixed assets	Total
	£	£	£
COST OR VALUATION
At 1 January 2025	78,771	269,886	348,657
At 31 December 2025	78,771	269,886	348,657
DEPRECIATION
At 1 January 2025	44,933	177,566	222,499
Charge for the year on owned assets	9,238	12,317	21,555
At 31 December 2025	54,171	189,883	244,054
NET BOOK VALUE
At 31 December 2025	24,600	80,003	104,603
At 31 December 2024	33,838	92,320	126,158

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EXETER CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	STOCKS
		2025	2024
		£	£

Stock	48,817	43,304
	48,817	43,304

6.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	522,937	247,256
	522,937	247,256

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	195,319	85,649
Amounts owed to group undertakings	228,608	80,305
Other taxation and social security	25,432	-
Other creditors	89,745	63,762
	539,104	229,716

8.	RELATED PARTY TRANSACTIONS
	Under paragraph 33.1A of FRS102 the company is exempt from disclosing transactions with its parent charity - The Cathedral Church of St Peter in Exeter (Exeter Cathedral) on the grounds that it is a wholly owned subsidiary.

9.	CONTROLLING PARTY

The company's parent is The Cathedral Church of St Peter in Exeter whose registered office is Exeter Cathedral, 1 The Cloisters, Exeter, EX1 1HS.

10.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 6 July 2026 by Christopher Trantham MA FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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