CATHEDRAL CHURCH OF THE BLESSED VIRGIN MARY, TRURO, CORNWALL
Truro Cathedral is first and foremost a church, the seat of the Bishop of Truro and a focus for the mission, life and work of the Church of England in Cornwall. Daily life includes worship, prayer, learning and music. We take care of the historic cathedral building, and try to influence the world for the better, welcoming everyone and walking alongside the diverse communities of the southwest.
Financial health, per its FY2024 accounts
The accounts state that unrestricted reserves stood at £52,340, which is below the Chapter's stated policy target of at least £834,140 (eight months of ordinary activities). Despite this deficit, the trustees and auditors confirm there is no material uncertainty regarding the charity's ability to continue as a going concern, citing confidence in meeting liabilities as they fall due.
What the accounts disclose
“The current value of unrestricted reserves as at 31 December 2024 is £52,340 which is below the appropriate level.” — page 15
“The Friends of Truro Cathedral donated a total of ENIL (2023: £12,664) to the Cathedral for specific purposes connected with music and other facilities.” — page 47
“The Cathedral's wholly owned trading subsidiary, Truro Cathedral Limited is incorporated in England and Wales (company number 04917372)” — page 39
Corporate structure
- Trading subsidiary: TRURO CATHEDRAL LIMITED Companies House 04917372
- Turnover: £105.1m
- Profit before tax: £98.4m
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Canon Daphne Skinnard
- Canon Robert John Perry
- Deborah Anne Rowland
- Dr Patrick John Newberry
- HELEN DAVIES
- Jeffrey Aneurin James
- Rev Alison Hogger Gadsby
- Reverend Canon Alan George Bashforth
- Reverend Canon Susan Marilyn Wallace
- Sarah Louise McLachlan
- Timothy John Pethybridge
- Trelawny Michael Williams
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.5m | £1.7m |
Common questions
Is CATHEDRAL CHURCH OF THE BLESSED VIRGIN MARY, TRURO, CORNWALL financially healthy?
Per its FY2024 accounts: The accounts state that unrestricted reserves stood at £52,340, which is below the Chapter's stated policy target of at least £834,140 (eight months of ordinary activities). Despite this deficit, the trustees and auditors confirm there is no material uncertainty regarding the charity's ability to continue as a going concern, citing confidence in meeting liabilities as they fall due. Its FY2024 accounts were audited by HaysMac LLP.
Who funds CATHEDRAL CHURCH OF THE BLESSED VIRGIN MARY, TRURO, CORNWALL?
Funders whose own accounts filings name CATHEDRAL CHURCH OF THE BLESSED VIRGIN MARY, TRURO, CORNWALL as a grant recipient include THE HEADLEY TRUST, CATHEDRAL MUSIC TRUST.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| THE HEADLEY TRUST | FY2024 | £51k | Towards the costs of the Organ Scholarship. |
| THE HEADLEY TRUST | FY2024 | £33k | Towards the costs of the Organ Scholarship. |
| CATHEDRAL MUSIC TRUST | FY2024 | £30k | |
| CATHEDRAL MUSIC TRUST | FY2022 | £16k | Financial support for cathedral music |
| CATHEDRAL MUSIC TRUST | FY2021 | £16k |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 10/08/2020 | £90k | "COVID19 Truro Cathedral" |
| The National Lottery Heritage Fund | 13/03/2019 | £95k | "Truro Cathedral organisational resilience project" |
| The National Lottery Heritage Fund | 05/02/2014 | £10k | "'Cornwall Remembers' Schools project" |
| The National Lottery Heritage Fund | 17/03/2009 | £413k | "Inspire Cornwall" |