ACCOUNTS - Final Accounts preparation

Registered number: 01988081

ELY CATHEDRAL ENTERPRISES LIMITED

AUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

ELY CATHEDRAL ENTERPRISES LIMITED

REGISTERED NUMBER: 01988081

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible fixed assets	4		17,219		17,045
Current assets
Stocks	5	76,735		68,845
Debtors: amounts falling due within one year	6	6,297		3,649
Cash at bank and in hand	7	16,095		37,678
		99,127		110,172
Creditors: amounts falling due within one year	8	(229,765)		(203,820)
Net current liabilities			(130,638)		(93,648)
Total assets less current liabilities			(113,419)		(76,603)

Net liabilities			(113,419)		(76,603)

Capital and reserves
Called up share capital	9	2	2
Profit and loss account		(113,421)	(76,605)
		(113,419)	(76,603)

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

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 profit and loss account 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 on 11 June 2026.

................................................

The Very Reverend Mark Philip John Bonney

Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

ELY CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

1.	GENERAL INFORMATION

Ely Cathedral Enterprises Limited is a private limited company incorporated in England and Wales, United Kingdom. The registered office address is The Chapter House, The College, Ely, CB7 4DL. The principal activity of the company continued to be that of selling books, souvenirs, prints and providing catering services.

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 presentational and functional currency of these financial statements is Pound Sterling. Monetary amounts in these financial statements have been rounded to the nearest pound.

2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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.

Revenue from the sale of goods relates to selling books, gifts, souvenirs and prints.

Revenue from services relates to catering services.

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ELY CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.3

GOING CONCERN

At the balance sheet date the company had net current liabilities of £130,638 (2024: £93,648) and net liabilities of £113,419 (2024: £76,603). The directors have considered the ability to continue as a going concern and believe this to be an appropriate basis as Ely Cathedral has confirmed it will continue to support the company for the foreseeable future by not asking for the repayment of the intercompany balance.

The Directors are satisfied that the steps the company has taken are sufficient and support the going concern judgement. The directors have prepared cash flow forecasts which demonstrate that the cash reserves will continue to meet liabilities as they fall due and Ely Cathedral have confirmed that they will not require the payment of the intercompany balance for at least 12 months from the date of signing of this report.

The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

2.4

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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 & fittings

straight line over 5 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.

2.5

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 an average cost basis.

2.6

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.

2.7

FINANCIAL INSTRUMENTS

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ELY CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.7

FINANCIAL INSTRUMENTS (continued)

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

2.8

CREDITORS

Short term creditors are measured at the transaction price.

2.9

PENSIONS

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

2.10

INTEREST INCOME

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

3.	DEED OF COVENANT

The company has in place a deed of covenant to distribute the net profits for each year to its parent undertaking. Provision is made within creditors for the amount payable in respect of each year. No such provision has been made in the current year as loss making.

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ELY CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

4.	TANGIBLE FIXED ASSETS

		Fixtures & fittings
		£
	COST
	At 1 January 2025	53,398
	Additions	6,813
	At 31st December 2025	60,211
	Depreciation
	At 1 January 2025	36,353
	Charge for the year on owned assets	6,639
	At 31st December 2025	42,992
	Net book value
	At 31st December 2025	17,219
	At 31st December 2024	17,045

Page 5

ELY CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

5.	STOCKS
		2025	2024
		£	£

	Finished goods and goods for resale	76,735	68,845

DEBTORS

					2025	2024
					£	£


Prepayments and accrued income	6,297	3,649

7.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

	Cash at bank and in hand	16,095	37,678

8.	CREDITORS: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	3,404	8,999
Amounts owed to group undertakings	216,929	180,426
Other taxation and social security	1,102	4,209
Other creditors	-	1,636
Accruals and deferred income	8,330	8,550
	229,765	203,820

9.	SHARE CAPITAL
		2025	2024
		£	£

Allotted, called up and fully paid

2 (2024 - 2) Ordinary shares of £1.00 each	2	2

10.	CONTINGENT LIABILITIES

The company is part of a group VAT registration and therefore is potentially liable for the VAT of its parent entity, Ely Cathedral. As at 31 December 2025, its parent entity had a creditor relating to VAT of £22,582 (2024 - £48,719).

Page 6

ELY CATHEDRAL ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

11.	RELATED PARTY TRANSACTIONS
	The company has taken advantage of the exemption from the requirement to disclose transactions with wholly owned group companies.

12.	CONTROLLING PARTY

Ely Cathedral Enterprises Limited is a wholly owned subsidiary of The Cathedral Church of the Holy and Undivided Trinity of Ely. Registered Charity in England and Wales, charity number 1202546. The registered office of the Parent is The Chapter House, The College, Ely, Cambridgeshire, CB7 4DL.

13.	AUDITORS' INFORMATION

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

The audit report was signed on 18 September 2026 by Shaun Jordan ACA (Senior Statutory Auditor) (Senior Statutory Auditor) on behalf of Price Bailey LLP.

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