Thc Friends of Arundcl Cathcdral Report and Accounts for year ended 30 June 2021 4A4KI¥CXS" 2411212021 COMPANIES HIsE A07
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The Friends of Artsndel CaTFthI is tE¢istcftd as &tompry limiit41 by 8uarane and not havirl a share capitsl INQ 37928341 pd is & Re8iStered Cknty (*40 10781491
NOTICE OF MEETING Noiice is hereby given that the nineteenth ANNUAL GENERAL MEETING of The Friends of Arundel Cathedrnl will be held at Si Mary's Hall, Cathedral Centre. London Road, Arundel, West Sussex on Sunday IP Ociober 2021 at 4.30pm (or in th¢ Cathedral if the Council n5id¢rs it is necessary) ACENDA l. Welcome 2. To consider and approve the Minu5 of the AGM held on 25 October 2020 3. To receive the Report and A¢nts for ihc year ended 30 June 2021 4. To consider the re-appointment of the Independent EMiner 5. To receive Suggestions from members for events and activities of The Friends 6. To elect memlxTS of the Coun¢il 7. Any other business Tea will be served before thc Meeting (if it is in the hall) S Kilmrtin Sc¢retary I September 2021 In a¢¢ordance with the Articles of Association, by roiation at the AGM. James Walsh and Nigel Corby retire as Elected Merni5 of Council aDd offer thettL8elves for relection. Council member5 serve for three-ycar tenn5. Nominations in writing are invited for other members who wish to Star for election to the Council: they should be addressed to the Secrelary of the Company at The Friends Office to arrive 48 hours i%fore the mttting. Nomtnees musi be members of The Friends and have given their writtcn consent. ANNUAL MASS IN HONOUR OF sr. PHILIP HOWARD The Mass will be celebrnted in the Cathra1 * 3.OQpm on this day for th¢ intention5 of the members of The Friends. All a most welcome and very much encoura%ed to attend.
THE FRIENDS OF ARUNDEL CATHEDIiAL Report and Accounts for the ytAr ended 30 Junt 2021 TABLE OF coNfEr Legal and AdminisLrative Details Page 4 Report of Council Report of ihe Independent Examiner Page 11 Stst¢m¢nt of Financial Activities Page 12 Balance Shect Page 13 . Not¢s fomiinR part of the Financial Statements Pasc 14 M¢mb¢rship Page l¥ For the benefjt of reader5 who aTe not Friends: The Friends ot Arundel Lathedral is 8n incorp)rated charity which has two principal objects which are, in non-technical language. to support Ihe mainienan¢e and developmeni of the Roman Catholic Cathedral of Our Lady & St Philip Howard at Anmdel, West Sussex and, by various means including publications. events and s¢rvice5, foster the 5en5e throughout the Dlocese of Arundel and Brighton that the Cathedral. as the mother church, is at the very heart of the life of the Di()¢¢ and of the affections of all of us who live within lis IM)unds.
THE FRIEND.S OF ARUNDEL CATHEDRAL- LEGAL AND ADMINISTRATIVE DETAILS HONORARY PRESIDEiwrs: The Righi Reverend Richard Molh. Bishop of Arundel and Brighion His GrdC¢ Edward Fit721an Howard, Duke of Norfolk CHAIRMAN. Mr P Burgess COUNCIL MEMBERS (DIRECTORS): ELECTED COUNCIL MEMBERS: tir J Walsh h4r N Corby Mrs M Barnford .Miss E McComlK Mr P Walker Mr M Hall BISHOP'S NOMINEES . Rev Canon David Panniter Mr P Burgess Mrs S Kilmartin Mr C. Snfflmer ARUNDEL PARISH.NOMKNEES: MTS M Whitehouse Mr M Heathcote Pth P Allen (Trsi8ned July 2020) SECRET ARY & TREASURER: Mrs S Kilmartin INVESTMENT CoMMIEE. Mrs S Kilmartin Mr P Burgess Mr C Somm ..Mr N Corby Mr M Hall ADMINISTRATOR: Mrs L Strdtford REGISTERED OFFICE THE FIUE14DS OFFICE INDEPENDENT EXAMINER Bishop's House The Upper Drive Hove Ea51 Sussex BN3 6NB Cathra1 House Parsons Hill Anjndel West s$seX BN18 9AY Tel= 01903 884567 email: aruncathtriend5fbtcorineCt.corn Kathryn Burton FCA Haysmacintyrc LLP 10 Queen Street Place London EC4R IAQ BANKERS HSBC Bank pl 69 Pall Mall London SWIY5EY INVESTMENT ADVISORS Inveslec Wealth & Investment Limited 30 Gresham Street London EC2V 7QN
REPORT OF COUNCIL TO THE MEMBERS OF THE FIUENDS OF ARUNDEL CATHEDRAL Dear Friends. your Council is pleased to be able io present the Rep)rt and Accounts of your Charity for the year ended 30 June 2021. In this report 'The Friends. and 'we' Tefer to the whole or8anisation as well as to the Council of The Friends. acting on its behalf. OBJECTIVES AND A1VITIEs The continuinR financial objective of The Friends 15 to meet a major part of the Diocesan costs for the Cathedral which are growin& and which curTently fall upon the Diocesan resources as a whole. The policies of The Friends in relation to investment. grant making and maintaining reserves are sel out below. It is to be nol¢d thal th¢ final d1$105 a5 to building and maintenance prioritie5 rest with the Diocese and noi with the Council. Our charity has a second objective.. the encourdgement of wider appreciation and use of ihe Cathedral by parishioners from across the Diocese. The mernbers of Council are always interested to hear views and suggestions of members and although. for all the reasons mentioned above. it may be constrained trom immediately adoptin$ them. the Louncil contÈnue to endeavour faithfully and in a prdctical way to reflect the intentions of The Friend5, members a5 a whole. The main public knefit provided by the charity is the provision of financial a5SiStance for the long-terni maintenance of the Cathedral, which is not only an historic listed building and a very important example ot'gothi¢ Tevival architecture. but one ot the landmarks in a town which is well known tor lis beauty. and which gains some ot its pmsperiiy trom its attrdctiveness to visitors. The members of your Council conflmi that they have complied with ihe duty in section 17 of the Charities Act 201 I to have due regard to public benefit guidance publish¢d by the Lhanty LommJ5510n m detemuning thc a¢tivitses undeTlaken by th¢ Lharity. ACHIEVEMENTS AND PERFORMANCE Throughout what may have seemed a desolate perio¢ the Cathedral has been a lively remindcr that at lea51 what we think of as noThal is still there behind the mists of the pandemic. in some shape or guise. Our habits and even our loyalties may have been changed by the experiences- all so personal_ that each of us has been throuRh, but our eathedtal stands in stone for our God who changes not. Through articles in the Parish Proclairner and in Comerstone (The Friends, own joumal) you will have caught Elimpses of the way (in ¢ompliance with the restrictions current from time to time) the Cathedral's life has been edging back to nomMI. The streatning equipment and ski115 have seen us leap up the technology laddeT. reachin8 a global population. Many. many people have en able to join in the Cathedral liturgie4 a notable example bcin8 the ordination ol Fr. Thomas Kent which was viewed over 6000 limes! ThouRh not yet with a 11 altar statT. our liturRies have beRun to look more populated, and our Choir (which. by the way, has just produced anew recording) has been ouistanding in its quality and rf0MYanre. The eslablishment some years ago of Choral Scholars funded by The Friends
REPORT OF COUNCIL TO THE MEMBERS OF THE FIiIENDS OF ARUNDEL CATHEDRAL (continued) has turbo charged the Choir's developmenL in perfonrwice and rrtoIrc. Some ofour lon8cr serving scholars are leavin8 us now to be replaced by new entrants this Autumn- we thank them Sincerely and sh them well in pursuing their tslents in tbe world ot'protessional music. We took the opportunity in the last edition of Cornerstone to thank so many of the Cathedral tamily whose work, logether, secures the safe and efficient- and thou8htfull _ running of the Cathedral and ensures that the wozk of the Cathedral can move forward with confidence. But your Council would also like to thank sincerely all The Friends for the continuing moral and tinancial 5UPPOrt they have ptovided in these in these wasteland times. some, indeed, have, most 8enerously. actually increased their donations. We are deeply 8ratetul to you all. Th¢ ¢onlinuing pandemic prevented our usual events from taking place. In July 2021 we were able to enjoy Summer Vespers but were obliged lo cancel th¢ gathering at the C&stl¢ aft¢nvards. Many who had been hoping to altend kindly converted their lickei money lo a donation, which wa5 received with much gratitude. "I'he OprtUnIty will soon, we hope, present itself for us all to be able to comc togeiher to pray and to sing week by weel strengthening each other by our pre5enc¢ and supporting each othcr by tharing our hOS and PTayers- and banishing our ftars. And, ot course. our p)sition will be even stronger it'we bring in new members- do encournge your triends and tellow parishioners who are not yet Members to join us! I I musr record with sadness the death this year of Michael Winters, one of our founding falhers. It was he, a highly qualif)ed actuary, who, with Bishop Corniac (as he then was) and COOn Tony Whale. laid down the investment principles that have slood us in such good stead over the last forty-some years. A5 you will sec, this ha5 enabled u5 to make rnajor capitsl gfdnts for the repair of the Cathedral and the Cathedral Centre but still io continue to provid¢ an annual in¢ome to &ssist with th¢ upkeep of the Cathedrnl. We owe.him an ¢nonnous d¢b¢l May h¢ r¢st in peace and rise in glory. FINANCIAL REVIEW MEMBERSHIP The Friends are delighted to welcome ihe following new members who have joined during the past year: . hts of St Columba Council 324 MTS J Blanke Since our last Arlnual Report, we have learned with TresS of the deaths of the following Friend5. May they rest in peace and Tise in glory:" Mrs Winifred Adam Mr Lucien Bouch Mr Potito Coletta Mrs M Connett Mrs Anne Dal Mrs Anne Dunkle Mr Brian Gla5sock Mrs Cecil Greenwood Unknolvn Di¢d Mar 2020 notified 25108Q020 Died Ma 2019 notified 71912020 Died 0510212021 Died Dec 2020 notified 2614f2021 Died 1510712020 Died Nov 2019 notified A 2020 Died Nov 2020 notified 2215r2021
Mis5 S dne Hadden Revd John Ha Mrs Averil Jenkin5 Baroness Delta O'caihain OBE Revd Dou las Perkins Mrs Emestine Richardson Mr Colin Stubbs Revd Brian Ta lor Mr Michael Winters Died A ril 2020 notified 291812020 Died 1011112020 Died 2020 notified 171512021 Died 23104r2021 Died 0710512020 Unknown Notified Nov 2020 Died 2510312021 Died 1510512021 Membership comprises 411 individuals and parishes, companies or oth¢r' . institutions as follows.. . Cate Individual Joint Patron Life 01107r2020 185 150 30 76 12 30m612021 166 26 69 rate By way of comparison, in 1998 the total memknhip 563. INVESTMENTS Since the establishment of The Friends. we have bencfited from a total investment incotne of over £992,000 and the value of our investments stands at a current value of £l,ti4tt,000. Thls re50ur¢e has enabled us. as cxplained al>)ve. lo make worthwhile contsibutions to safeguard the Cathedral's wellbeino for the fllre. Th¢ fund managers have been set p¢rfomian¢e benchmarks and their perfomwice was satisfactory. A brief reconciliation of the figures involved. when grants are included in the calcularions since fornliOn of the original trust in 1986. is as follows.. - Income inclLtding original donations & legacies Gain on inveslments Less: Expenditure b¢for¢ grdnt5 Less: Grants to Diocese £2.344,0 £1529,000 £432.000 £1,725,1fv Nel Assets at 30 June 2021 £1.716.000 FtNANCIAL PERFORMANCE At the be81Ting of the year on l July 2020. our funds amounted to £1,417,000. During the year to 30 June 2021, our subscribcrs and other well-wishers contributed some £140,000 including £2.000 from tax repaid under Gift Aid (last year £3.000). Including investment income. the total receipts for the y¢ar amounted to £169.000 (last year £64.000). The was a legacy during the year amounling to £127,000 (last year nil). Small project grants totslling £12.OCNJ weff made to enhance the fAbric and grotinds. of the Cathedral, and to fa¢ililate Covid-safety. Our support costs. including employmerti eosts relating to our Administrator, office costs. printing publicity and accountancy, amounted to £13,1)00 (last year £16,000). The investment managemenl tee was £lJ.VW (last ye8T £13,000).
Thi5 year, our InvestnnI income amounted t(9 £28,()UU (last year JY,(HJ)J. The markeT value- of our investments incre&sed by £195.000 (last year deCread by £40.000). The tot81 investment return obtsined this year was therefore a sUlUS ot L22J,UUV (last year a loss of . £1,000). In the final resull at the year end. we were left with total ays¥ls" brfvre to the Dioccsc or £1.772,000. From this we are paying grants to the Diocese of £53.0(K) and.the parish Choral Fund £3.000,' leaving The Friends with assets ai 3U June 2U21 ot £1,716,000. IMPACT OF COVID-19 There is an increascd risk of volatility in relation to investment valves and dlvidends during 202Q and 2021. The charity has taken steps to preserve its cash positior4 by conlrolling expenditure. With these measures in place, Ihe Board is confidwit that the ch~arity remains a going concern and are well placed to manage any fiuther tinan¢ial impact ot the pandeffllc. INVESTME POLICY The. primary investment aim is to maximise total return from the charitable funds while being mindful of the relevant ethical issues. Income and capital growth are regarded for This purpose as of equal value. In implementing this poli¢y proper con51J¢rntion i5 givett io The avulduiiL¥ of undue risk and to th¢ objectiv¢ of a¢hieving a balanc¢ wbkch is aimed at maintaining the annual grant to the Diocese at least at its curreni level. GRANf MAKING POLICY While no specific commitmeni has been made, the general intention is that each year the Ylmount of the annual Rrani to the Uiocese shotsld be-ar lea51 equal iu. ili¥ suii) paid in th pVIouS year, preferably increased in line with inflation. Occasionally, a larger grdnt nY be considered for particular circumstwices or projects. PRoJEs IN RECENT YEARS Projects in which The Friends have participated in recenl years include: the repair and refurbishment of St Mary's Hall to become the Lathedral Centre. with new catering facilities, further meeting room5. and two rooms for the stofdEe of chuir robes and musi¢ and for practi¢e- Ibe replacement of the Fleche over the ¢rossitig. the construction materials of which weff suffering from fatigue, (and which was found. in the Course ofits dismantling to b¢ in a danRerous state of instability)" the repair, cleaning and re51oration of the R05c Window at the West [0(. the clearance and replanting of the Cathedral garden. several Autumns ¢leartng and cleaning St Mary's Ceri]eiery" the Teplacement of a number of the side altar hangings. the.facilitation of the St Philip Howard'pilgrimage: participation by Members of the'council (at th¢iT own expense) iIi the. Nazlonal" Conference of Cathedral Fnends; conrriburin8 to the restoration and re-p1alit of sllverwaR used in Ilie LuUirili&l' the creation and printing of a Caihedtal Visiturs Guid¥-" ihe estsblishment of a Choral Fund in The Friends, Accounts. and the finanelng of a number of choral scholarships: the purchase of a motorised lawn mower,
the purchase of new altar fronts]s & tabernacle veils. new chalices and t4 candlestick; buildinreStoratiOft amendments to the sacrssty and financial support for Covid protection including new perspcx screens for the Cathedral shop, and a fogging machine & chemi¢a]s. RESERVES POLICY The long-tenn aim is lo build up sA8nificant reseTves to makc it possible for the 8f&Dts paid by The Friends to cover the major part of the costs hlliD8 on the Di¢S¢ in connection with th¢ Cathedral. The intention is lo ensu reserves of at least around £1.25 million are retained in order to allow for the on-going support of the Cathedral for thc foffseeable fulure. including in years when a much more significant mainienance gfdnt may be required. FUNDRAISING APPROACH The Company does not engage in fundraising telephone or email campaigns and doe5 not ndraise directly from the public. Funds are raised primarily through subscriptions and events. No complaints about fundraising were received during the year or in the prior y¢ar. RISK ASSESSMENT AND RISK MANAGMENT "rhe Louncil has assessed the major risks to whi¢h tbe Company is exposed and is satisfied that . appropriate systems are in place to identify and mitigate those risks. STRucfuRE GOVERNANCE AND MANAGEMEKr CONSTETirrioN The Friends of Anmdel Cathedral isa company limited by guarantee, not having A share capital, and registered as a charity. having as its fonnal objects Ihose set out in the Memorandum & Articles of AssociatlOD. the maintenancc. support. servic< carrying on and development of the Roman Catholic Cathedral of Our Lady & St Philip Howard at Arundel, we Sussex. The company was incOrrated on 21 June 1999 in England & Wales under No 3792834 and was regisiered as a charity on 19 November 1999 under No 1078149. THE COUNCIL The Council. (i.e. in ordinary Company Law parlance, the Board of Directors, who are the Irustees of the ¢hariry), consists of six members elected by the overall mernbership, with up to further four members appointed by the Bishop and up to a further appointed by Arundel Cathedral Parish throu8h it5 Parish Finance Committe¢. li is the Council's duty to ensure that in what The Friends does ils charAtsbl¢ objects are properly met and discharged ID a¢¢ordance wilh the requirements of the law. The ¢urreni composition is shown on page 4 under the"Legal & Administrative Details.- In the casc of each member of Council, their appointmcnt is made for a maximum of tlwee year5, though re-cleclion OT reap5K)intment is [tted. 'lthe Council meets in Plenary Sassion foallY every six months. The Friends has been blessed with individuals who have given dedicated and skilled service from its very beginning.
Investment decisions are delegated by the Council to an Investment sUcOmMIttee comprising tive ot its members. In 2007. the Louncil apinted Investec (formerly known as Rensbur8 Sheppards) as our investment managers to manage ihe portfolio on a disctetionary basis for a fee. The Inve5trnent Sub-committec r¢rxives regular reports frorn the managers and holds meetings with them and review5 their appointmcnt at regular intervals. A Membership & Evenis Sub-committee a150 meets at rtgular intervals between the Plenary sessions of the Council and deals wilh a considerable volume of busin¢ss tpnRin8 from the organisation of specific events to the re-estsblishmeni of the network of parish representatives, the Sub-committee has also been responsible tor the deSIgn of OUT loRo, and banners for our display stock. and the new format and colour of our not¢paper and stationery. 411 of which hav been very well Teceived.. STATEMENT OF THE TRUSTEES, RESPOIYSIBILITIES The members of the Council of The Friends of Arundel Cathedral are responsible for preparin8 the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accout]ting Standards (United Kingdom Generally Accepted Accounting Praelice). Company law requires the Council to prepare finan¢iaI ststernents forea¢h financial yearwhich give a true and fair view of the &te of affairs of the charitable company and of the incoming resources and applicaiion of resources, includinR the income and expeD.&ilur¢. of the charilabl¢ company for ihat perio¢L In preparing these financial statemenis. the members oflouncil arc. required to: . select suitable accounting policies and then apply them ¢onsistently? observe the methods and principle5 in the Charities SORP. mak¢ judgem¢nt5 and estimates ihal are reasonable and prudenl. state whether applicable UK Accounting standards have been followe subject to any rnaierial departures disclosed and explained in the financial statements: and prepare the financial slatemeDt5 on the Boing concern basis unle&8 it is in2ppmpriHtr lo presume that ihe charitable company will continue in business. The Council is responsible for keeping proper accounting records thai disclose with reasonable accuracy at any time the financial position ofthe charitable company and enable them to ensur¢ that the financial statements comply with the Companies Act 2006. It is a150 responsible for safeguarding ihe ats of the ¢haritable company and hence for takinA reasonable steps for the prevention and detection of fraud and other irffgularities. Approvrdl ofcouDeil In preparing this rtporL the Council has taken advantsge of the small companies exemption provided by section 415A of the Companies A¢t 2Crf)6. This report was approved by the Council on l &pIernr 2021.and is .signed nn 118 hehAlf hy Patrick Burgess as Lhrrnan. Patric urgess 10
INDEPENDENT EXAMINER'S REPORT TO THE TrUEEs OF THE FRIENDS OF ARUNDEL CATHEDRAL I report to the TnLStees on my examination of the accounts of Thc Friends. of Arund¢! Catlthl tor the yéar ended 3uU, june 2U21 whtch are set out on pages 12 10 17.--' Rtspertive rejponsibilities of trustees gnd examiner The trustees (who are also the directors of the company for the purpo.ses of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Aci 2006 (he.2006 Actl. The tru¢¢$ are satisfied that an audit is not requiréd for this year under section 144(2) of the Charitie5 Aci 2011 (the 2011 Act) and have chosen instead to have an independent examination. HavinR satisfied myself that the aCts of the charitable company are not required to be audited LEnder Part 16 of the 2(M)6 Act and are eligible for independent examinalion, I report in respect of my examination of the charitsble company's accounls as carried out und¢r section 145 of Ihe 2011 Act. In cwing out my examinaiion I have followed the Tequirements of th¢ applicable D1CtiO5 given by the Charity Commission under section 145(5)(b) of the 2011 Acl. Indep¢ndent ¢xmin¢r's statement I have completed my examinaiion. I confim ihat no matters have come to my attention giving me &1use to t¢lieve that in any material respea: l. accounting records were noi kept in respect of the Company a5 required by section 386 of the 2006 ACL or 2. the accounts do not accord with those records. or J. the accounts do not comply with.the accountin requirementsot'section 396 ot'th¢ ?(K)6 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered a5 part ot. an independent examination. or 4. the accounts have not been preparell in aecordance w)th the melhods and principles ot. the Statement of Recommendcd PrtICe for accounling and reporting by ¢hari¢j¢s. I have no concerns and have Come acTOSS no other matters in connection with ihe examination to which attention should be drawn in this port in order io ¢aable a proper understandinR of Ihe accounts to be reached. Kathryn Buffon FCA HaySmac1nty LLP Chartered Accountants 10 Qu¢¢n Str¢¢t Placc -LvJidvii EC4R IAG Date: 27th Septembef 2021
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THE FRIENDS OF ARUNDEL CATHEDRAL BALANCE SHEET Reg15¢ered Comp•ny 03792834 ATJOJUNE2021 2021 2020 Note5 Fixed wgetj Inveswnents 1645618 1451 130 1ffi4SfiIA ,4.11,130 Current Assets tkb¢or5 Cjsh at Bank in Hand fo¢Jl cyrrent ets 2.591 134056 IJ4UJb 26.414 Liabililie5 Credilors-. Amounts fallin8 due within one year Accruals and Defeffed Income Grant5 Payable Total turrent Ilabllitkes (7.245) 12.983) Nei Current 0$5¢¢41iAbilities 70.811 (34.569) Totsl Net Assets 1716.429 .416561 The fwThd$ of the ¢hirity: Unrcxtricicd Funds Endowment Funds 1.688.855 1,392,242 1716429 1416561 The TnJstees eonsider that the company is entitled io eXptiOn from the rwuiment io have an audit undEr the provis%on5 of section 477 of the Comparties Act 21x15 (Ihe Act") and mtmbews have not required the company to obtain ?n audit for the ye8r in qU10n in accordance with sectson 476 of the Act. The Tru5tee5 aeknowledge iheirresportskbiliiies forensuring that the company keeps accouniin8 record5 which comply with section 386 of the A¢1 and for preparing fjnancial sthiements which giwe a twe and tair view of ihe slate of affttirs of the company as at 30 June 2021 and of its n¢1 in¢ome for the year then ended in ¥wrdan¢e with th¢ requirements ofseetiorts 394 and 395 of ihe Aci and whi¢h (4herwise comply with the TequiremeDts of the Companies Act 2UUb relating to the financial statemenis so far as appli¢able to the company. The financial statements have been wepared in K¢ordan¢¢ with thc special prowisions l)ng ro ¢ompanie5 subject to the 5rnall eompanies regime within Pan 15 of the Companies Aci 2006. Approved by th¢ Council on I September 2021 Signed w their bEhaifby P BURGFSS Choirnitsn S KILMARTIN Tttasurtr 13
THE FIUENDS OF ARUNDEL CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 PIUNCIPAL ACCOUNTING POLICIES (i) Basis of Accounting The fmancial statements have been prepared in accordance with the Statemenl of Recommended Praclicc for Charities (SOR? 2015) (Second Edition, effective l January 2019). the Financial Reporting Standard applicabl¢ in the UK and Republi¢ of Ireland (FRS 102) and the Companies Aci 2006. The FTiends of Arundel Cathedral meets the definition of a public benefit entity under FRS 102. Assets and liabiliti¢s are initially Tecognised at historical cost or transaction value urtless otherwise ststed in the r¢l¢vant accounting policy notc. Preparation of the accounts on a going concern basis Having considered future bud8eis and cash flows. Ihe confim that they have no material uncertainties about the entity's ability to continue as a going concern for the foreseeable future. (iii) Income reco8nition All income is re¢o8nised on¢¢ the chariry ha5 enlitlemcnt lo the income, it is probable that the income will k ttceived, and the amount of income cth be rnea5ured reliably. Donation5 are recogniscd when the cl)arity has been notified in writing of both the amount and settlement date. Legacies and donations are reCOlsed when the charity betomes legally enliiled 10 them they can reasonably be measured in financial ternts. Investment income is credited to income when it is receivable, 2nd the amouni Ldll iy Jii¢aJLuvJ liably by ihe clwity. this is nonnally upon notification of the interest paid or payable by the bank. Dividends are recognis¢d once the dividend has been declared al notification ha5 been received of the dividend due. (iv) Expendilurc Liabilities are recognised as expenditts as soon as theff is legal or conslructive obligation commilting the charity that expendiiur< li is probable thai settlemcnt will be required. and Ihe amount of obligation can be measured reliably. Expenditure is trcognised on an a¢3 basis as a liability is incurrt inclusive of VAT. which cannot be recovered. (v) Debiors Trdde and other debtors are Tccognised at the settlement amount due. Prepayments are valued at the amount prepaid. 14
THE FRIENDS OF ARUNDEL CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS (eoDtinu¢d) FOR THE YEAR ENDED 30 JUNE 2021 (vi) Cash at bank and in hand Cash at bank and in hand includes bank accounts and ¢aslL (vii) Creditors and prowsions Credilors and provisions are recognised Whe the Clwity has a pr¢sent obligatson Te5uliing from a past event that will 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. Creditots and PTOvi$ions are nomially reco8nised at their settlement amounl. (ix) Investment gains and 10s5C5 All gains and losses are taken to the Statement of Financial A¢tivilie5 as they arise. Realised gains and losses on investments are calculated as ihe dIfftnuY iYlw¥¥ii sttlcs PiDGccds and opening market value (purchase date if later). (x) Investments Investments are a fomi of basic financial instrument. They are initially recognised at their tran5action.value and subsequently.valued ai their fair valu¢ di ilir balance sheei datc uyin8.the closing quoted market price. The Statement of Financial Activities includes the net gain5 and losse5 arising on revaluation and disposals throughout the year. (xi) Estimation uncertainty In the view of the trustees in applyin8 the aOunting p)licie5 adopirf no jud8ements were required ihat have a significant effect on the amounts recognised in the financial statements nor do any eslimales or assumptions made carry a significant risk of muierial adju51menl in the next financial year. (xii) FinanciaE instrnmenls The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instnunents. Basic financial instruments are UlltLally rtcogttlsed aT anSLI1VIl value and subsequently measured at their settlement value. 15
THE FRIENDS OF ARUNDEL CATHEDRAL NOTES TO THE FINANCIAL STATEMETh (eontinued) FOR THE YEAR ENDED 30 JUNE 2021 2021 2020 2 F114DRAISThG bVEThTS Due io Cov*J p4ndertx.no fvndr•iss events MWE held ID thi5 year . lQ¢eyts - Ewen5e5 417 FunthAisin8 Su41115) 47 - Rec¢iJts . Ews¢5 153B (1,455) FunthAiSiTh8 Surylms Tffj¢al 411Y 3 DFBTOILS C¥ft Aid Incorr¢TaxRe¢overnbk 1519 2.519 4 ACCRU4LS AND DF111RF INCOME AC•A Report PrintHI8 Wages A¢¢rual io Dioce$¢ ¢h¢red1Io Advao¢e Receipts forSukMrrConcert JJJ7 1533 1.375 1.883 2983 16
THE FRIENDS OF ARUNDEL CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 30 JUNE 2021 202] 2020 S vEsTmENTS L4$tcd Inv¢51rMIts Cosh Deposils 1fy17.l40 2&478 IJ80,629 Total investrrn 1.645.618 .451,130 MovenI InVEs1Tr V&lue ai 1st July 2j Acqui8itiolls at Cost Prnceed5 OrleS ins during the y#r IJ80.629 3413J39 (381.84)1 224.792 1.46JJJ2 221J277 1271.OY)) {).1)1 Markn Vahle at Xth June 2021 Ih17.140 1.380.629 Hisiorn Cost 6 FiWIDS NEfASSEfs ANALYS Nri IrrenT L4thiliti Invesifftnis Toiol Ihresiitted EAdoiiTr¢nl Icfvoir Furtd} 1th18J 27j74 7thSii . I.IAwJ 27374 2J.939 I4518 70.81 I 1.71&429 1,416.561 7 FUNDS ANAL[8 InvestrtAI 8ains Cb)5in8 balènce bwlanre Incoft Fynditure Unrestricted Ik)linI (ChoirFund) iJ92fft2 2),939 1692 (w.Ib) 2LI,IJ7 16JS 1M8.8JJ 27,574 169TrJ 171A429 8 RFh1LR¥1AT1N AND EXPENSES N.vn¢ ofthe Directo orcouncil receNed arty rrrnn¢ta[n 0TeMbJnts kn re5pe¢i vfLheu' s¥vl¢es durin8 th¢ yearl2020 oil). ¢wenses TeisruT5cd I111). There hav¢ beert rto rtiated prty trnns•eIs tht rtporti18 yeatof kn the pt)ryt¥r(ILai rryu*t discbiurt. 17
LIFE MEMBERS 2021 His Grace Edward Fitzalan-Howard, Duke of Norfolk Her Grace Georgina k'itralan-Howard. Duchess of Norfolk Lad Jane Lothian Lad De Zulueta Revd Richard McGTath Revd Canon Colin Wolczak Abbot & Communi Worth Ab Au siinian Sister& Bur ess Hill Arundel Caihedral Parish Christ The Redeerner Parish. Cranlei Franciscan Fria , Chilworth Franciscan Missiotw Sisters. Littleham ton Grace & Compassion Benedictines. Pffston Park Avenue. Bri ton Sacred Heart Parish Hove St Joan of Arc Parish Farnham St Joseph's Nursing Home, Littleham ton Notre Dame S¢hool. Lin field Sisters of the Immaculate Heart of Mary. Hove Persimmon Homes Yorkshire Lid F J Walli5 Charitable Settlement Mrs W G Adam J J S Allanson Mrs Celia M A lott Mrs Ma arel Bamford Mr John H Barder Mr5 M Barnett Mr Mike Bloxham Mrs Jenn Bloxham Mr Peter C Brans Mr Peter Bulfield Mr Paul W Butcher Dr Timothy Chambers OBE FRCP VR KHS Dr Ian Coxon Mrs Veronica Lri¢knia Mr Michael Crickn Mrs M M Cross Mrs Martha Cunnin Mr & Mrs D Davidson Mrs E L thvis Ms. Alice de Pieryont de Bumot Mr J B Diamond Dr Eoin Donohue Mr J R Edwards Mr5 S J Edwards Mrs Jean French MrsTGa nor Mr A N Goodfellow MrPJH Mr Maurice Hartl Mr Oliver Hawkins Mrs Barbara HaV$1¢Y Mr&MrsJHe Mr & Mrs D Jameson Mrs Sheila Lyons Miss Eileen Mccarth MTS Moira McDonnell Dr Jose Mr M R Perera Mi"s Mar arci Phili Mrs M Piiron Mr Terence Pilron Mr S Powell Mrs D Rees Mrs E A Rothne Mr Michael R crofi Mrs Shela Mrs Kattn Somm¢r Mr Charle5 Sommer Miss Marion Stratton Mr Robin Tin51ey er rove Miss Carina Wakeford Dr Jame5 Walsh Mrs Claire E Watts Mr Anthon Wickins Mr im H Wilmot Mr H A Woellwarth 18
CORPO TEME BERS 2021 ndel Catenians Circle 320 hts of Si Colurnba Council 324 hts of St Columba Council 546 Notre Dame School Cobham SIHU h's Chanerhouse Si Phili Howard Caiholic Hi h School Bantham The Towers Convent School. St nin Kni PATRONS 2021 Mr Jonathan Adams Mr Thomas Allen Mrs Shela h Allen Mr&MrsRo er Bannister Mrs Annette Barker Catenian Association Arundel Mr Malcolm Cusack Dau hier5 of The Cross Ha51emere Mr & Mrs John Donovan Mr M C Fornara Mrs ChaTlotte Gre MrAGHod son Monsi nor Canon J Hull Mr William James Mrs Sarah Kilmartin Mr Martin KIu5t Mrs Eileen Martin Mrs Caroline Ma hew Mr Chrislo her Mead-Bri Mr An us Nunnel Order of Friars Minor R e East Sussex Mr Timoth O'Rorke MrHu A Rawlinson Mrs Joanna Robertson Dr Sandra Sed wick MrsSMThom son The Towers Conveni SLhool Mr Neil Twist Mr Paul Walker M5LUWatt Mrs Deirdre Wickins Circle 320 19