FRIENDS OF HIGHGATE CEMETERY TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Registered Company number 3157806
Registered Charity number 1058392

FRIENDS OF HIGHGATE CEMETERY TRUST
Contents
Page
Legal and Administrative Information
Report of the Trustees
5-13
Independent Auditors, Report
14-16
Consolidated Statement of Financial Activities
17
Statement of Financial Activities
18
Balance Sheets
19
Con501idated Statement of Cash Flows
20
Note5 to the Financial Statements
21-34

Friends of High9ate Cemetery Trust
Legal and Administrative Information
Legal and Administrative Information
Chair
Liz Fuller
Trustees
Katherine Baldwin
Alice Brown
Paul Candler
Simon Edwards
Charo Guardiola
Claire Jebson
Steve Kennard
Neil McLaughlin
Stuart Orr
John Robinson
Stephen Smith
David Stanford
Andrew Yeo
retired 15 May 2024
resigned 4 March 2024
resigned 28 June 2024
elected 15 May 2024
elected 15 May 2024
Staff
At 1 March 2025
Dr lan Dungavell FSA AICCM Chief Executive
Emily Candler
Head of Public Programmes
Judith Chadbourne FCCA
Head of Finance
Leo Crane
Director of Development
Judith Etherton
Archivist
Victor Herman
Sexton
Leighann Heron
Project Director
Kim Nazarko
Volunteering Manager
Nick Powell
Visitor Experience Manager
Guinevere Short
Head of Operations
Jessica Slamon
Registrar
Sally Taylor
Finance and Development Manager
Kate White
Project Director
Gardene
Frank Cano
José Ballesteros Barragan
Zurab Gogidze
Erik Harris
Adam Howe
Head Gardener

Friends of Highgate Cemetery Trust
Legal and Administrative Inforniation
Bankers
Lloyds Bank plc
140 Camden High Street
London NW1 ONG
Unity Trust Bank plc
4 Brindleyplace
Birmingham B12JB
CCLA Investment Management Limited
85 Queen Victoria Street
London EC4V 4ET
Investment advisors
BNY Mellon Fund Managers Limited
160 Queen Victoria Street
London EC4V 4LA
Auditors
Knox Cropper LLP
65 Leadenhall Street
London EC3A 2AD
Company number
3157806
Charity number
1058392
Registered office
Highgate Cemetery
Swain's Lane
London N6 6PJ

Friend5 of Highgate Cemetery Trust
Report of the Trustees
Report of the Trustees
Highgate Cemetery ison the cusp of a new future. Moving on from a policy of 'managed neglect,,
we will enable the landscape and structures to adapt to climate change and we will provide better
for the needs of visitors, volunteers and staff.
The past year has been one of intense activity forthe Friends of Highgate Cemetery Trust which will
bear fruit in the years to come.
We welcomed over 103,000 visitors. more than ever before, and a 10% increase on the
previous year.
Our visitor income increased by 31Yo, and visitor satisfaction continues at high levels.
Our volunteer team continues to number around 160, giving visitors a personal and
memorable experience.
We were awarded £105,000 by the National Lottery Heritage Fund towards an anticipated
total grant of £6.7 million for the first phase of our conservation project, Unlocklng Highgate
Cemetery.
We submitted planning and listed building consent applications in December 2024 for a 25-
year programme of conservation and enhancementof oursite and facilities, the culmination
of several years of work.
Our new Head of Public Programme5 is working on an Activity Plan to unlock equity,
participation and community engagement.
Guided by our new Director of Development, we reviewed our membership scheme and
introduced a patrons, programme.
We reclaimed 459 graves which were no longerwanted, using our powers under the
Highgate Cemetery Act 2022.
Highgate Cemetery opened over 180 years ago in 1839 as a profit-making venture for a private
company. Butthe originalowners, the London Cemeterycompany, finally collapsed in the 1970s in
a financial scandal having devoted progressively less of its diminishing resources to the upkeep of
the Cemetery. Fifty years ago, in 1975, the Friends of Highgate Cemetery Trust a charity, was formed
by local peoplewho were concemed forthefuture of the Cemetery and the Trust continues to care
for it today.
We report on ourwork underthe three charitable objects Set out in our constitution. These are
linked, as through promoting the public benefit of the Cemetery and continuing to bury people
here, we are more likely to be able to conseNe the Cemetery as a respecrful sanctuary for the
benefit of this and future generations.
PROMOTING THE PUBLIC BENEFIT:'to promote the public benefit in relation to Highgate
Cemetery by any means appropriate and likely to preseNe it as a place of historic and other
interest and beauty,
BURYING'.'to permit the Cemetery to be used as a public burial ground,

Friends of Highgate Cemetery Trust
Report of the Trustees
CONSERVING.. 'to secure the repair. restoration and preseNation of the Cemetery, its
monuments and buildings and other artefacts and their setting for the public benefit.
We review ouraims, objectives, activities and risks each year. This report looks at what we achieved
in the financialyearended 31 August 2024and considersthe success of each activity. We have had
regard to the Charity Commission's guidance on public benefit when exercising any powers or
duties to which the guidance is relevant.
PROMOTING THE PUBLIC BENEFIT
'to promote the public benefit in relation to Highgote Cemetery by any means appropriate and likely
to preserve It GS a place of historic and other interest and beauty.
Headline numbers
103,532 visitors, a 10Yo increase
24,839 took guided tours
310A increase in visitor income
246,342 users of our website
around 160 volunteers
One of our greatest achievements is keeping Highgate Cemetery open every day of the year except
Christmas Day and Boxing Day. While many visitor attractions have been struggling to reach the
number of visitors they had before the pandemic, this year we welcomed more than ever before
12024: 103,532,. 2023.. 93,855).We had made it easierforpeople to visit the whole Cemetery in 2021
by no longerrequiring them to takea tour of the West side and this, with some minor adjustments
to ticket prices, gave us a 31% increase in visitor income (2024.. £908,254,. 2023: £693,486). We also
held two more'Neighbour Days, where residents in adjoining postcodes may visit for free, resulting
in 599 additional visitors in April 2024 and 628 in November 2024.
At the same time, our visitors continue to report high levels of satisfaction. Of those 478 visitors who
reviewed us on the TripAdvisor website, 98% of rated their experience 'Excellent' or Very good,
12023: 96% of 223 reviewers). giving an average score of 4.97 out of 5 (2023: 4.9). And the
TripAdvisor algorithm ranks us number 21 of 3,392 things to do in Londonl
While paying to visit a cemetery is unusual, few visitors object once they hear that Highgate
Cemetery is owned and run bya charitywhich receives no regular public funding, and that so fnuch
of the work is done by a devoted band of around 160 volunteers. Around half of them have been
with us for five years or more; one-third of them volunteer weekly and two-thirds at least once a
month. It is a tribute to the specialness of the place that volunteers are willing to give so much of
their time to look after it and share it with others. Ourvisitor assistants and tour guides are the
public face of the Cemetery, and ourgardening volunteers and grave tenders supplement the work
of our gardeners to ensure the landscape is maintained as best we can.
We are also keen to find ways of engaging with people who might never have thought to visit
Highgate Cemetery, and tothinkabout a broader range of activitiesto enable them to benefit from
this special place. M uch of this will be done as part of Unlocking Highgate Cemetery, described
below, supported by the National Lottery Heritage Fund.

Friend5 of Highgate Cemetery Trust
Report of the Trustee5
Our events programme once again featured talks connected with Cemetery residents such as the
cartoonist Martin Rowson talking about producing an illustrated version of the Communist
Manifesto, the spiritualist artist Georgiana Houghton, theatre architect Frank Matcham and on other
topics asdiverse death masks, mourning rituals, common graves, and the Egyptian style. Again we
published three issues of our newsletter, sent to members as a benefit of membership," back issues
are available fordownloadon our website. Our grateful thanks to all the contributors. Our website
recorded 332,616 users (2023: 246,342), 71% of whom were from the United Kingdom (2023.. 7011,
and 10¥. from the United States12023: 10%).
We remain a popular venue for filming but, as we had fewer commercial productions this year,
income dropped to £22,900 (2023: £33.125).
Plans for future periods
We will implement new Customer Relationship Management software to consolidate our ticketing
and membership systems.
We will continue our recruitment and training programmes for visitor assistants and tour guides,
and we hope to have more available at peak periods.
BURYING
'to permit the Cemetery to be used as a public burial ground.
Headline numbers
81 burials
18 full burials and 63 cremated remains
38 new graves sold-10 full size graves and 28 for cremated remains
It is importantto usthat Highgate Cemeterycontinue5 as a working cemeteryand does not become
simply a tourist attraction. Providing a place of burial is the best way to preseNe its special
character, prevent its decline and keep it knitted into the local community. In 2024, there were 81
buria15, 18 full burials and 63 of cremated remains (2023.. 18, 47). We sell a small number of new
graves each year but, as availability is very limited, they may not be purchased in advance of need. In
2024, sales of 38 graves- 10 full size and 28 for cremated remains
brought in £543,946 (2023:
38, 10, 28, £702,864; although the number of graves was the same, this year included two larger
ones).
The Highgate Cemetery Act 2022 empowers the Trust to extinguish rights of burial and disturb
human remains in Highgate Cemetery for the purpose of increasing the space for interments and
the conservation of Highgatecemetery. No graves last used less than 75 years ago are included in
the grave renewal programme. On 17 July 2024, 459 previously sold graves reverted to the
ownership of the Trust, objections from relatives having prevented the renewal of six more. The
required public notices had been first published on 9 January 2024 and the process was widely
covered in the media. The affected graves are mostly concentrated in two small areas, one in
consecrated ground in thewest, and another in unconsecrated ground in the East. The first of the
renewed graves was resold in January 2025.

Friend5 of Highgate Cemetery Trust
Report of the Trustees
We have taken the first orders for a Book of Remembrance to be displayed in a special cabinet in the
Chapel from March 2025.The book has a page foreverydayof the year and the page will be turned
every morning to the current day. It will provide a much cheaper and hopefully more permanent
form of memorialisation than a stone memorial and isalso an appropiiate place for commemorating
those with a Highgate connection who are not buried at the Cemetery.
Highgate Cemetery is deseNedly world famous as a heritage attraction and the revenue from
visitors is crucial to the maintenance and enhancement of the Cemetery. But we are always
conscious of the needs ofthe families and friends of those who are buried here. Grave owners can
normally visit every day of the year except Christmas Day and Boxing Day.
Plans for future periods
TheTrust will applyfora church permission (a'faculty')from the Diocese of London to permit grave
renewal on consecrated ground. We will establish a Memorial Assessment and Advisory Committee
to advise on the significance of individual memorials, andwe will workwith the London Borough of
Camden to develop a process for the removal of such pre-1925 memorials as we do not wish to
retain.
To provide a more affordableoptionforashes burials, we will introduce a shared vault for cremated
remains using one of the graves reclaimed under the Highgate Cemetery Act.
We will propose further packages of graves for reuse under the Highgate CemeteryAct.
CONSERVING
'to secure the repair, restoration and preseNation of the Cemetery, its monuments and buildings and
other artefacts and their setting for the public benefit,
While plans forthe Unlocking Highgate Cemetery project progress, day-to-day workto maintain and
enhance the grounds continues. Many of the Cemetery's trees are struggling to adapt to the
changing climate which has brought more regularepisodes of drought andwaterloggirig. The rapid
spread of ash diebacl a fungal disease with mostly fatal consequences, has begun to radically
transform the appearance of some areas. Public consultsiion bythe London Borough of Camden on
ourten-yearash diebackmanagement plan brought nota single objection and work is undemay to
deal with affected trees.
Work on sorting and cataloguing the Trust's archive and collections continues. It has proven to be
an invaluable resource as we worked on our conseNation project and planning applications. We
have accepted deposits of material from people associated with the Trust from its earliest days, and
we continueto acquire items related to Highgatecemeteryforourcollection; most recently a set of
excellent glass-plate negatives showing the Cemetery not long after WW2.
Plans for future periods
We will continue dealing with trees affected by ash dieback according to our management plan.
Wewill continue to seekout itemsforourcollectionwhich enhanceour understanding of the place.
Unlocking Highgate Cemetery, reported on below, will enable the Trust to balance the conservation
of the natural and historic environments for the benefit of all.

Friend5 of Highgate Cemetery Trust
Report of the Trustees
UNLOCKING HIGHGATE CEMETERY
Unlocking Highgate Cemetery is the lottery-funded seven-year first stage of ou r 25-year project to
conserve and enhance Highgate Cemetery. It received a great boost with the announcement in
January 2024 that we had been successful in obtaining £105,000 development funding from the
National Lottery Heritage Fund towards an anticipated £6.7 million grant for the delivery phase.
Togetherwith just over £10 million from our reserves and £1.2 million from funds still to be raised,
this would enable the Trust to make an £18 million investment in the future of the Cemetery.
The Pilgrim Trust generously awarded the Trust £25,000 to fund structural investigations of the
Circle of Lebanon, forwhichwe are verygrateful. The results helped us understand and plan for the
conservation and maintenance needs of these Grade l-listed vaults.
Years of work developing detailed design proposals for the landscape, monument conservation and
new buildings culminated with the submission of full planning and listed building consent
applications to Camden Council in December 2024. All the way through, much has been done to
ensure that the proposals are sen51tive to the site and will help secure the future of the Cemetery.
Many of our members, volunteers and the local community have made valuable contributions by
being involved in our consultations and their views were incorporated into the plans as they
developed. An outline of the scheme was given in our December 2024 newsletter.
It has not been Straightfo￿ard. Our proposals to conseNe and enhance the cemetery landscape
and provide forthe needsof visitors, volunteers and staff have been framed bythe need to maintsin
the character of the conservation area and to preserve the setting of listed buildings and
monuments. We plan to conserve and restore where appropriate structures such as the Chapels,
Courtyard, Colonnade, Egyptian Avenue and Circle of Lebanon and the Terrace Catacombs.
We have sought to build as little as possible.. not only is there hardly any space available, there is
also a planning presumption against building on Metropolitan Open Land. Butwe have found small
sites for a new Gardeners, Building, an Education and Community Building, and a Café and
Operations Building. We will also give a new life to the Dissenters, Chapel as a public space for
displays and workshops.
Ourfull planning application sets out how we propose to work over the next twenty-five year5, but
the detailed implementation will depend on practicalities and resou rces. Not everything can happen
at once.
ConseNation is not an end in itself. Participating in heritage can contribute to people's personal
development, and there is emerging evidence of a positive relationship between heritage
participation, wellbeing and health. TheTrustthrough its activities can also contribute to the life of
the community by boosting social networks, increasing mutual understanding and cohesion and
encouraging a stronger sense of place. With funding from the development phase grant of the
Heritage Fund, we appointed a Head of Public Programmes, whose first task is to develop the
Activity Plan which will unlock these public benefits.
Plans for future periods
The Trust will submit a delivery-phase application to the National Lottery Heritage Fund in 2025.
Once planning consents have been obtsined, the Trust will develop a strategy to implement the
consents in stages from 2026.

10
Friends of Highgate Cemetery Trust
Report of the Trustees
Wewill lookatways to increasevisitordiversityfurtherthrough a new programme of activities and
partnerships Wlth local groups.
STRUCTURE. GOVERNANCE, AND MANAGEMENT
Structure
The Friends of HighgateCemeteryTrust ('theTrust') isa registered charityand a company limited by
guarantee. It is governed by memorandum and articles of association dated 16 January 1996, last
updated on 17 December 2021. The Trust has a wholly owned subsidiary, Highgate Cemetery
Limited ('the Subsidiary), which manages the non-charitable trading," together the'Group. The
financial statementsof the Subsidiary are consolidated into these financial statements to form the
Group accounts.
Governance
The Trust is managed bya Board of Trustees ('the Board,). The trustees are also the directors of the
Trust for the purposes of the Companies Act. Trustees are recruited based on skills needs identified
by the Board. A variety of methods is used to identify suitable candidates. Nine trustees are elected
by and from the membersof theTrustforan initialterm of three years, and theyare then eligiblefor
re-election for one furtherterm. Three additional trusiees may be nominated by the Board and
appointed by members in general meeting for a term of three years and are eligible for
reappointment for one further term. All trustees are required to be members of the Trust. They are
inducted andtrained by briefingsfrom fellowtrustees and keyemployees, and may attend relevant
training provided by other organi5ations and paid for by the Trust.
The directors of the Subsidiaryare appointed bythe Board, andcurrently one employee of the Trust
and one trustee serve a5 directors at the discretion of the Board. The Trust's relationship with the
Subsidiary is governed by the Operating Agreement dated 29 March 2023.
Management
The Board normally meets six times a year, as do the directors of the Subsidiary. The Board is
responsible for, among otherthings, setting the strategyand future direction of the Trust, approval
of the annual budget. and approval of any transactions above certain amounts. The Finance and
Audit Committee ensures that charitable funds are used in the most effective way to the benefit of
the Trust and in accordancewith its objects.There are also committees to manage the Conservation
Project, Fundraising and Governance. Members of the Board individually or in small groups also act
to take forward the Trust's plans. Day-to-day management is led by the Chief Executive who attends
meetings of the Board.
The Board seeksto ensure that pay isset at an appropriate level to enable the Trust to recruit, retain
and motivate the best people to achieve its charitable objects, whilst ensuring value for money.
Remuneration 15 approved by the Board after consideration by, and with the recommendation of,
the Finance and Audit Committee, taking into account such factors as an annual performance
review, internal comparisons. benchmarking within the sector and other comparable sectors
(particularly upon recruitment), and changes in the cost of living. No staff are involved in setting
their own remuneration.
Risk management

Friends of Highgate Cemetery Trust
Report of the Trustees
The principal ongoing risks and uncertainties facing the Trust are..
loss of income through inabilityto use reclaimed burial space due to external regulators
loss of income due to impact of building and landscape works on visitor numbers
inabilityto complete the conservation project as planned due to insufficient fundraising
increased costs and risk of damage due to delayed management of the diseased trees of
site.
The Board, its committeesand management monitorthese risks to ensure adequate plans remain in
place to mitigate them. The Board has also examined other operational and business risks faced by
the Trust and confirms it has established systems to mitigate the significant risks.
Fundraising
The Trust appointed a Directorof Development in August 2023 to plan and execute its fundraising
strategy. As a result, our membership prices and benefits have been reviewed and are now in line
with comparable organisations. We have introduced a new patrons programme.
The Trust has notyet subscribed to anyfundraising standards orscheme forfundraising regulation.
No commercial participator or professionalfundraiser has carried outanyfundraising activities on its
behalf. No complaints about fundraising activity have been received.
FINANCIAL REVIEW
Income and expenditure
Total income amounted to £2,183,187 (2023: £2,035,284), an increase of £147,903 attributable to
highervisitor number5. and over £170,000 from four legacies. The Subsidiary paid £1,757, all its
profits from the yearto August 2023, to the Trust as a Gift Aid donation.
Total expenditure increased to £2,712.966 (2023: £2,267,063), predominantly due to spending on
Unlocking Highgate Cemeteryof £1,294,689 (2023: £937,053) and costs relating to tree management
An increase in investment values resulted in u nrealised gains of £924,293 (2023: £18,875).
As a result of these changes net income amounted to £394,425 (2023: net expenditure of £212,852).
Funds and reserves
At 31 August 2024 the Trust's total funds were £12,076,511 including investments managed by BNY
Mellon, ourprofessional advisor, of £11,040,752 and cash of £1,028,016. As detailed in note 17 total
unrestricted funds were £12,051,586 (2023: £11,674,584) from which the Board has designated funds
to the conservation project that amount to £11,259,017 (2023: £8,937,711), leaving a balance of
general funds of £792,569 (2023.. £2,736,873), in line with the reseNes policy detailed below.
The accounts do not put an asset value on Highgate Cemetery because of the difficulty of
calculating a reliable and meaningful figure. There is a small but valuable asset of land which may

12
Friends of Highgate Cemetery Trust
Report of the Trustees
continue to become available for burial, but there is also a substantial and continuing need for
maintenance and conseNation.
The Board has adopted a Reserves Policywhich is based on the evaluation of major risks facing the
Trust. The objective is to provide sufficient unrestricted reserves to minimise the impact on cemetery
services should any of the risks materialise, but not fully to cover all the main risks as the Board
believesthatthiswould result in an excessive level of reseNe5. The Board reviews at least annually
the amount of reserves to ensure it is adequate to fulfil the Trust's obligations. As the risks could
result in loss of income or increased costs, the Board seeks to mitigate their effect by holding
around £750,000 to cover normal operating expenditure for at least six months.
Fixed assets
Full disclosure of all matters relating to fixed assets is set out in the notes to these financial
statements.
Investment policy
Under its Articles of Association, the Trust has the powerto make any investment which the trustees
see fit. The Board hasconsidered the mostappropriate policyfor investing funds, and the portfolio
objective is long term capital growth, consistent with sufficient liquidity to draw down from the
investments to fund the Conservation Project. The Trust has delegated its investment management
to BNY Mellon Fund Managers Limited. This arrangement was reviewed during the year and the
Board decided to maintain the position. Investments are predominantly held in the Newton
Sustainable Growth and Income Fund for Charities.
Trustees. responsibilities in relation to the financial statements
The trustees, who are directors forthe purposes of company law. are responsible for preparing the
annual report and financial statements in accordance with applicable law and the United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to prepare financial statements for each financial year which
give a true and fairview of the state of affairs of the Trust and the Group at the balance sheet date
and of its incoming resources and application of resources for that period. In preparing those
financial statements, the directors are required to
select suitable accounting policies and then apply them conslstently
ObSe￿e the methods and principles in the Charities SORP
makejudgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements, and
prepare the financial statements on the going concern basis unless it Is inappropriate to
presume that the Trust will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable
accuracyatanytime the financial position of the Trustand Group and to enable them to ensurethat
the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the Trust and Group and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.

13
Friend5 of Highgate Cemetery Trust
Report of the Trustees
Disclosure of information to auditors
So far as each trustee is aware at the date of approval of this report
there is no relevant audit information of which the Trust's auditors are unaware, and
the trustees have taken all Steps that they ought to have taken to make themselves aware of
any relevant audit information and to establish that the auditors are aware of that
information.
Auditors
Knox Cropper LLP is willing to be reappointed in accordance with section 485 of the Companies Act
2006.
Small company disclosure
This report has been prepared in accordance with the provisions applicable to companies entitled to
the small companies, exemption.
By Order of the Board
Liz Fuller, Chair
Dated 26 March 2025

14
Independent Auditor's Report to the Members and Trustees of
Friends of Highgate Cemetery Trust
We have audited the financial statements of Friends of Highgate Cemetery Trust (the 'Trust') and
Highgate Cemetery Limited (the 'Subsidiary'), {together, 'the Group.) for the year ended 31 August 2024
which comprise the consolidated and Trust statements of financi35 activities, the consolidated and Trust
balance Sheets, the consolidated statement of cash flows 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 5tondard 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 Group's and the Trust's affairs at 31 August 2024 and
of the Group s and Trust's incoming resources and application of resources 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 Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
group 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 Board's 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, i ndividually or collectively, may cast signif icant doubt on the Trust's abi1 ity 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 trustees with respect to going concern are described in
the relevant sections of this report.
Other information
The other information comprises the information included in the annual ieport, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information.
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 there is a material misstatement in the financial statements or a material
misstatement of the other information. If, based on the work we have performed, we conclude that there

Independent Auditor'5 Report to the Member5 and Trustees of
Friends of Highgate Cemetery Trust
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 trustees. report, which includes the directors, report prepared for the
purposes of company law, for the financial year for which the financial statements are prepared is
consistent with the financial statements,. and
the directors. report included within the trustees, report has been prepared in accordance with
applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Group and Trust and it5 environment obtained in
the course of the audit, we have not identified material misstatements in the directors, report included
within the trustees. report.
We have nothing to report in respect of the following matters in relation to which the Companies Act
2006 requires us to report to you if, in our opinion..
adequate and proper accounting records have not been kept by the Trust, or returns adequate
for our audit have not been received from branches not VlSited by us,. or
the Trust's financial statements are not in agreement with the accounting records and returns., or
certain disc105ures of trustees. remuneration specified by law are not made- or
we have not received all the information and explanations we require for our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies, regime and take advantage of the small companies, exemptions in preparing the
trustees, report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees. responsibilities statement, the trustees (who are also the directors
of the Trust for the purposes of company law) 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
trustees determine is 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 trustees are responsible for asse55ing the group's and the
Trust's ability to continue as a going concern. disclosing. as applicable. matters related to going concern
and using the going concern basis of accountin g unless the trustees either intend to liqu idate the
company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial 5tstements
Our objectives are to obtain reasonable assurance about whether the financial statement5 as a whole are
free from material misstatement, whether due to fraud or error, and to Issue an auditor's report that
includes ou r 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.
M isstatements 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities. outlined above. to detect material misstatements in respect
of irregularities, including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below-.

16
Independent Auditor'5 Report to the Members and Tru5tee5 Qf
Friends of Highgate Cemetery Trust
We obtained an understanding of the legal and regulatory frameworks that are applicable to the
Group and Trust and determined that the m05t significant are Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom
GeneralW Accepted Accounting Practice), the Companies Act 2006 and the Charities Act 2011.
We gained an understanding of how the Group complied with its legal and regulatory framework,
including the requiretnent to property account for restricted funds, through discussions with
management and a review of the documented policies, procedures and controls.
The audit team, which is experienced in the audit of charities, considered the group's
susceptibility to material misstatement and how fraud may occur. Our considerations include the
risk of management override and revenue recognition.
Our approach was to check that the income from donations and charitable activities were
properly identified and accurately disclosed, that expenditure complied with the control
procedures and was appropriatety charged. We also reviewed journal adjustments and unusual
transactions for management override and considered the identification and disclosure of related
party transactions.
There are inherent limitations in the audit procedures described above and, the further removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial
Statements, the less likely we would become aware of it. The risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may
involve deliberate concealment by, for example. forgery or intentional misrepresentations, or through
collusion.
A further descriptiOTI 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 auditor's report.
Use of our report
This report is made solely to the Trust'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 Trust's
members those matters we are required to state to them in an auditor's report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
the Trust and the Trust's members as a body. for our audit work, for this report or for the opinions we
have formed.
Stephen Anderson (Senior Statutory Auditor)
For and on behalf of Knox Cropper LLP. Statutory Auditor
65 Leadenhall Street
London
EC3A 2AD
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19
Friends of Hi9hgate Cemetery Trust
Consolidated and Trust Balance Sheets
at 31 August 2024
2024
Group
2023
Group
Notes
Trust
Trust
Flxed assets
Tangiblo fixed assets
Investments
Investment in Subsidiary
34,422
11,040,752
34,422
11,040,752
47,846
11.370,212
47,846
11,370,212
12
12
11.075.174
11.075,176
11,418,058
11,418,060
Current assets
Stocks
Debtors
Cash at bank
6,806
216,206
1,028,016
15,366
77,378
465,247
14
15
213,612
992,602
74,569
447,088
1.251,028
1,206,214
557,991
521,657
Creditors: amounts falling due
within one year
16
(249,6911
{248,0941
1293,963)
1259,3881
Net current assets
1.001.337
958.120
264,028
262,269
Total a55et5 le55 current liabilities
12,076,511
12,033,296
11,682,086
11,680,329
PrDvision for liabilitie5
18
Total net assets
£12,076,511
£12,033,296 £11,682,086
£11,680,329
Funds
Unrestricted funds- general
designated
19
19
17
792.569
11,259.017
24,925
749.354
11.259,017
24,925
2.736.873
8.937,711
7,502
2.735.116
8,937,711
7,502
Restricted funds
Total funds
£12,076,511
£11033,296
£11,682,086
£11,680,329
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies
Act 2006 applica ble to companies subject to ihe small companie5, regitne.
The financial ststements were approved by the Board on2.&.IK*.•LH 2015 and signed on its behalf by
Liz Fuller, Chair
Claire Jebson, Tr
tee

20
Friends of Highgate Cemetery Trust
Consolidated Statement of Cash Flows
at 31 August Z024
Notes
2024
2023
Cash flows from operating artivitie5
Net cash provided by operating
activities
(955.130)
(607,775)
Cash flows from investing activities
Dividend and interest received
Purchase of tang ible fixed assets
Sale of investments
22,266
14,3671
1,500.000
17,328
118,5251
Net cash used in investment attivities
1,517,899
{1,1971
Change in cash and cash equivalents
in the financial year
{562,769)
1608,9721
Cash and cash equivalents at the
beg irining of the fina ncial year
465,247
1,074,219
Cash and cash eguivalents at the end
of the financial year
£1,028,016
£465,247
2024
2023
Notes to the statement of cash flows
A Reconciliation of net income to net cash flow from
operating activities
Net income / lexpenditurel for the financial year
Adjustments for:
Depreciation
Loss on d isposal of tangible fixed assets
Gains on investments
Dividends and interest
Increase in debtors
Decrease in creditors and provisions
Decrease / (increase) in stock
394,425
(212,8521
17,791
12,064
3,072
(18,8751
(257,130)
147,9061
181,0721
15,0761
1924,293)
(268.513}
(138,828)
(44,2721
8,560
Net cash provided by operating activities
£(955.130)
£1607,775)
Analysis of cash and cash equivalent
Cash at bank
£1,028,016
£465,247
C Analysis of changes in net funds
At
0110912023
£465,247
Cash
Flow5
£562,769
At
3110812024
£1,028,016
Cash

21
Friend5 of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 August 2024
Accounting policies
1.1 Statutory information
Friend5 of Highgate Cemetery Trust is a private company limited by guarantee, registered in England
and Waleswith registration number 3157806. The registered office can be found on page 4 of the
Report of the Trustees.
Basis of preparation and assessment of going concern
The accounts have been prepared under the historical cost convention with the exception of
investments which are included at market value. The financial statements have been prepared in
accordance with the Statement of Recommended Practice." Accounting and Reporting by Charities
preparing their Gccounts in accordance with the Financial Reporting Standards applicable in the UK
and Republic of Irel(Jnd (FR5 702) and the Financi(Jl Reporting Standard applicable in the United
Kingdom and Republic of Ireland (FRS 702), the Companies Act 2006 and the Charities Act 2011.
The consolidated accounts include the accounts of the charitable company, Friends of Highgate
Cemetery Trust (the'Trust') and its subsidiary Highgate Cemetery Limited (the 'Subsidiary',
consolidated on a line-by-line basis (the'Group'). The Trust constitutes a public benefit entity as
defined by FRS 102.
The Trusteesconsiderthatthere are no material uncertainties aboutthe Trust's abilityto continuea5
a going concern.
Income
All income is recognised once the Trust has entitlement to the income, it is probable that the
income will be received. and the amount of income receivable can be measu red reliably.
Donations, subscriptions, and other income are recognised when received.
Investment income is included when receivable.
Grants for immediate expendittjre are accounted for when they become receivable. Grants received
for specific purposes are treated as restricted fu nds. Grants restricted to future accounting periods
are deferred and recognised in those periods.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the Trust to that expenditure, it is probable that settlement will be required, and the
amount of the obligation can be measured reliably.
Grants payable are accounted for when the Trust is committed to paying them.
Costs are allocated between direct charitable and other expenditu re according to the nature of the
cost. Where items involve more than one category, they are apportioned between the categories
according to the nature of the cost. Detailed analysis of the allocation of costs is given in notes 9
and 10 to the accounts.

22
Friends of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 Au9USt 2024
Investments
Investmentsare a form of basic financial investmentand are initially recognised at their transaction
value and subsequently measured atfair value at the balance sheet date using the closing quoted
market price. The statement of financial activities includes the net gains and losses arising on
revaluations and disposals throughout the year.
Realised gains and losses on investments are calculated as the difference between sales proceeds
and theiropening carrying value or their purchase value if acquired subsequent to the first day of
the financial year. Unrealisedgains and lossesare calculated asthe difference between the fairvalue
at the year end and their carrying value.
Tangible fixed assets and depreciation
Fixed assets are capitalised at co¢ where acquired, or market value as determined by the trustees
where donated. They are stated in the accounts at cosvoriginal value less depreciation.
Depreciation is calculated to write off the cost or valuation of fixed asset5, less their estimated
residual value, over their expected useful lives on the following basis:
Fixtures and fittings
Plant and machinery
25Yo Straight line basis
20% straight line basis
Heritage assets
The Highgate Cemetery Charity, a linked charity of which the Trust is sole corporate trustee, is the
owner of Highgate Cemetery, which the Trust maintain5 in support of its object to preserve it as a
place of historic and other interest and beauty. Highgate Cemetery is inalienable, has no open
marketvalue, and anyconventional valuation approachwould lacksufficient reliability, whilst even if
valuations could be obtained, the costs would be onerous compared with the additional benefits
derived bythe Trust and the users of the accounts. As a result, no value is reported for this asset in
the consolidated Balance Sheet.
Expenditure on major restoration
The cost of associated major repairs is reported in the Statement of Financial Activities in the year it
is incurred. Further information is given in note 13 to the accounts.
Stocks
Stocks are valued at the lower of cost and net realisable value. Net realisable value is based on
estimated selling price less further costs to completion and disposal.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discoLJnt
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors
Trade creditors and provisions are recognised where the Trust has a present obligation resulting
from a past eventthatwill probably result in the transfer of funds to a third party and the amount
due to settle the obligation can be measured or estimated reliably. Creditors and provisions are
normally recognised at their settlement amount after allowing for any trade discounts due.

23
Friends of High9ate Cemetery Trust
Notes to the Finanaal Statements
for the Year ended 31 August 2024
1.10 Pensions
TheTrust operates a personal pension scheme. The asset5 of the scheme are held separately from
those of the Trust in an independently administered fund.
1.11 Funds
Unrestricted funds representthe fundsof the Trustthatare not subjectto any restrictions regarding
theiruse and are available forapplication to general purposes. The general funds remaining are in
line with the reserves policy. Restricted Funds are u sed in accordance with specific restrictions
imposed by donors, or which have been raised by the Trust for a particular purpose.
1.12 Taxation
The Trust is registered as a charity and is exempt from taxation on its income and capital gains.
Current and deferred tax in the consolidated financial statements relates solely to the Su bsidiary.
1.13 Signif icant management judgements and estimation uncertainties
The following are the critical Judgements and key sources of estimation uncertainty that the board
has made in the process of applying the Group's accounting policies and that have the most
significant effect on the amounts recognised in the financial statements.
1.14 Depreciation
The depreciation of fixed assets is based on management's estimate of their useful lives which is
kept under review.
1.15 Heritage a55etS
As stated in note 1.6, no value is reported for Highgate Cemetery in the financial statements.

24
Friend5 of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 August 2024
Trading activities of Subsidiary
The Trust hasa whollyowned trading subsidiarywhich 15 incorporated in United Kingdom. Highgate
Cemetery Limited {companynumber01725719) became re5ponsiblefor all non-charitable activities
with effect from April 2023. A summary of the trading results is shown below, and audited accounts
have been filed with Companies House.
2024
2023
Turnover
Grants received
Other operating income
Cost of sales
Administrative expenses
Interest received
70,867
501,340
555,200
1,447
(19,882) (782,797)
(7,797) (275,135)
116
Profit/(Loss) before taxation
Tax
Transfer to Parent Charity
43,304
(891
(1.757)
56
52
£41,458
£108
Subscriptions. donations and legacies
Subscriptions
Donations
Gift Aid
Legacies
National Lottery Heritage Fund grant - Restricted
Pilgrim Trust grant- Restricted
29,201
14,199
5,562
170,000
52.852
7,215
9,744
48,112
5,595
95,068
£279,029 £158,519
£nil of donations relate to restricted funds (2023= £nil).
The grantfrom the National Lottery Heritage Fund was the first instalment for the
development phase of the conservation project andthe Pilgrim Trust grant was for
the initial work on the investigating the vaults in the Circle of Lebanon.

25
Friend5 of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 August 2024
2024
2023
Charitable activities
Highgate Cemetery admissions
Merchandise and publications
Burial rights
Burial fees
Memorial sales
909,891
41,890
543,946
97,693
8,951
693,486
39,583
702,864
79,549
65,064
£1,602,371
£1,580,546
Other trading activities
Filming and sundry income
£33,274
£39,089
Investment income
Investment income
Bank interest
263,783
4,730
240,612
16,518
£268,513
£257,130
Raising funds
Costs of raising funds,
Subscriptions and donations (note 9)
Fundraising costs
£88,865
£82,166

26
Friends of Highgate Cemetery TTU5t
Notes to the Financial Statements
for the Year ended 31 August 2024
2024
2023
Charitable activities
Burial rights and memorials
Merchandise
Private Bill
ConseNation projects
Cemetery running costs
Staff costs
Depreciation
Archives
11,429
19,882
15,907
1,332,883
389,839
372,221
8,476
429
49.842
18.863
937,053
428,489
330,233
7,742
1,843
2,151,066
1,774,065
Support costs (note 9)
473,035
410,832
£2,624,101
£2,184,897
Within the above expenditure is £42,644 charged to restricted funds: £35,429 on National Lottery
Heritage Fund and £7,215 on Pilgrim Trust.

27
Friends of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 August 2024
Support Costs
2024
2023
Legal & professional fees
Auditors, remuneration
Governance costs
Staff costs
IT support
Telecoms
Printing, postage & stationery
Miscellaneous
Subscriptions
Depreciation
Loss on disposal
53,398
7,499
1,037
438,851
13,186
4,644
21,822
11,868
280
9,315
40,711
5,300
9,648
384,497
12,937
5,857
17,323
7,896
1,435
4,322
3,072
£561,900
£492,998
Allocated to..
Raising funds
Charitable activities
88,865
473,035
82,166
410,832
£561,900
£492,998
Auditors, remuneration for the audit of the Trust and Subsidiary amount to £7,000 excluding VAT
{2023: £5,755).

28
Friends of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 August 2024
Allocation of staff costs
Raising
Funds
Charitable
Activities
Total
Off ice staff - direct
Off ice staff - support
Burials staff
Landscape staff
158,398
368,168
48,907
167.869
158,398
436,525
48,907
167,869
68,357
£68.357
£743,342
£811,699
Staff costs
2024
2023
Wages and salaries
Social security Costs
Pension costs
Agency staff
687,624
68,947
55,128
603,902
60,149
47,353
3,326
£811,699
£714,730
The average number of staff during the year was 19 (2023- 17).
The number of employees whose remuneration exceeded £60,000 for the year was
2024
2023
£60,000 to £69,999
£70,000 to £79,999
£80,000 to £89,999
£90,000 to £99,999
The key management personnel are the trustees, the Chief Executive, Conservation Project Director5,
Head of Finance, Head of Operations and Director of Development. Their total employee benefits
amounted to £448,509 (2023: £367,319).

29
Friend5 of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 August 2024
Tangible fixed assets
Plant &
Machinery
Group and Trust
Total
Cost
At 1 September 2023
Additions
Disposals/write off5
179,946
4,367
(14,607)
179,946
4,367
(14,607)
At 31 Au9USt 2024
169,706
169,706
Depreciation
At 1 September 2023
Charge for year
Disposals/write offs
132,100
17,791
(14,607)
132,100
17,791
(14,608)
At 31 August 2024
135,284
135,284
Net book value
At 31 August 2024
£34,422
£34,422
At 31 August 2023
£47.846
£47,846
12
Fixed assets investments
2024
2023
Investments (see below)
£11,040,752
£11,370,212
Highgate Cemetery Limited (shares at cost)
£2
£2
BNY Mellon
CCLA
2024
2023
Marketvalue at 1 September
2023
Redemptions
Dividends reinvested
Net investment gains
11,335.557
34.655
11,370,212
11,111,535
(1,411,902)
246,247
834,231
(1,411,902)
246,247
836,195
239,802
18,875
1.964
Market value at 31 August
2024
Historical cost
at 31 August 2024
£11,004,133
£36.619
£11,040,752 £11,370,212
£6,725.275
£30,000
£6,755,275
£7,717,679

30
Friend5 of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 Au9USt 2024
The Trust's investment adviser is BNY Mellon Fund Managers Limited, and the Trust holds
investments in Newton Sustainable Growth and Income Fund forcharities, as well as the CCLA COIF
Fixed Interest Fund.
All investments are held by the Trust.
Investment gain5 per Statement of Financial Artivities
Unrealised gains
Disposal proceeds
Book value of disposals
836.195
1,500,000
(1,411,902)
Gains per financial Statements
£924,293
13
Heritage assets not recognised in the Balance Sheet
The Trust maintains Highgate Cemeterywhith was givento the Highgate Cemetery Charity when it
was established in 1988. Other than in respect of burial rights there have been no acquisitions or
disposals of heritage assets during the lastfive years.The Trust aimsto preserve Highgate Cemetery
as a place of historic and other interest and beauty. and in accordance with this aim the Trust has
undertaken restoration projects, the cost of which is not capitalised in the Balance Sheet, but
reported in the Statement of Financial Activities in the year it is incurred.
14
Debtors
Group
2024
2023
Trade debtors
prepaymenis and accrued income
Other debtors
Taxes
21,197
177,363
409
17,237
65,750
11,130
498
£216,206
£77,378
Trust
Trade debtor5
Prepayments and accrued income
Taxes
18,135
177,363
18,114
63,788
10,781
£213,612
£74,569

31
Friends of Highgate Cemetery Trust
Note5 to the Financial Statements
for the Year ended 31 August 2024
2024
2023
15
Cash at bank and in hand: Group
The balance is represented by
Lloyds Bank accounts
Unity Trust Bank accounts
The Charities Official Investment Fund
Cash and other accounts
25,844
451,880
535,527
14,765
24,997
260,990
167,991
11,269
£1,028,016
£465,247
Cash at bank and in hand: Trust
The balance is represented by:
Lloyds Bank Accounts
Unity Trust Bank Accounts
The Charities Official Investment Fund
Cash
25,844
416,466
535,527
14,765
24,997
243,007
167,991
11,093
£992,602
£447,088
16
Creditors: amount5 falling due within one year: Group
Accruals
Deferred income
Trade creditors
Other creditors
Taxes and social security Costs
36,578
42,892
151,771
72,997
84,618
80,389
5,170
50,789
18,450
£249,691
£293,963
Creditors= amounts falling due within one year: Trust
Trade creditors
Other creditor5
Due to Subsidiary
Taxes and social security costs
Accruals
Deferred income
151,098
79,400
5,170
7,965
17,632
69,931
79,290
7,593
18,450
33,389
37,564
£248,094 £259,388

32
Friends of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 31 August 2024
Deferred Income relates to income received in respect of burial rights and memorials and is released
when the memorial has been installed in thecemetery, orthe rights of burial have been transferred.
It also includes bookings for entry to the Cemetery.
Group
Trust
Deferred income at 1 September 2023
Income released in year
Income from memorials
Deferred income in year
84,618
(72,772)
5,038
26,008
79,290
{72,7721
5,038
26,008
Deferred income at 31 August 2024
£42,892
£37,564
17
Analysis of funds
Unrestricted
Restrirted
Heritage
Fund
General
Designated
Other
Total
Group
At 1 September 2023
Income
Expenditure
Gain on investments
Transfers
Tax
2.736,873
2.123,120
(1,217,423)
924,293
(3,774,205)
(89)
8,937,711
7,502
7,215
(7,215)
11,682,086
2,183,187
(2,712,966)
924,293
52,852
(35,429)
(1,452,899)
3,774,205
(89)
At 31 August 2024
£792,569
£11,259,017
£7,502
£17,423
£12,076,511
At 1 September 2022
Income
Expenditure
Gain on investments
Tax
1.887,436
2.035,284
(1,204,774)
18.875
52
10,000,000
7,502
11,894,938
2,035,284
(2,267,063)
18,875
52
(1,062,289)
At 31 August 2023
£2,736,873
£8,937,711
£7,502
£11,682,086
Other Restricted comprises the Sowerby Fund of £7,502 for monument restoration on the West side
of the Cemetery and the Pilgrim Trust grantfor initial works on the opening of the Vaults. Heritage
Fund Restricted is for the development phase of the Unlocking Highgate Cemetery project. The
Designated fund represents amounts designated by the Board for the Conservation Project.

33
Friend5 of Highgate Cemetery Trust
Notes to the Financial Statements
for the Year ended 3 1 August 2024
18
Provision for liabilities: deferred taxation
Group
2024
2023
At 1 September 2023
Charge/(credit) for the year
557
(557)
At 31 August 2024
There are no provisions for liabilities in the Trust.
19
Net assets by funds: Group
Unrestricted
Restricted
Designated
2024
Tangible fixed assets
Investments
Net current assets
34,422
34,422
11,040,752
1,001,337
11,040,752
218,265
758,147
24,925
£792,569
£24,925
£11,259,017
£12,076,511
Unrestricted
Restricted
Designated
2023
Tangible fixed assets
Investments
Net current assets
47,846
2,432,501
256,256
47,846
11,370,212
264,028
8,937,711
7,502
£2,736,873
£7,502
£8,937,711
£11,682,086
20
Contingent asset
The Trust has been notifiedof itsentitlementto residuary legacies but is currently uncertain of the
payments to be received and therefore no income has been accrued in respect of thi5.
21
Related party transactions
No trustees received any remuneration during the period. Two trustees received reimbursement of
expenses £215 (2023.. none). The Trust provided a grant of £nil (2023.. £555,200) to the Subsidiary,
Highgate Cemetery Limited, in furtherance of its charitableobjects. A managementcharge of £3,565
was paid by the Subsidiary for the year to August 2024 to the Trust. At the year end, £7,593 (2023:
£7,965) was owed by the Trust to the Subsidiary. A distribution of £1,757 was received from the
Subsidiary (2023= £nil).
22
Other financial commitments
The Group has no otherfinancial commitments at 31 August 2024 (2023.. £nil).

34
Friend5 of Highgate Cemetery Trust
THANK YOU
Highgate Cemetery thrives thanks to the support of grave owners, volunteers, members, patrons, visitors,
donors and legators. With your help, the Trust can unlock Highgate Cemetery's future as a sanctuary for
heritage, nature and community.
With funding from the National Lottery Heritage Fund, other funders and our own reserves, we can begin
the vital workof conserving the 36-acre site, securing listed monuments, opening up access and i mproving
its biodiversity-
To find out more about Unlocking Highgate Cemetery, how you can make a donation or remember us in
your will, please visit: http5://highgatecemetery.org/help/donate.