FRIENDS OF LICHFIELD CATHEDRAL IFELLOIVSHIP OF ST CHAD] REGISTERED CHARITY NUMBER: 1102791 ACCOUNTS YEAR ENDED 31 DECEMBER 2024 Dains Audit Ltd Chartered AceountantS St John's Court Wiltell Road Lichfield Staffordshire WS14 9DS
THE FRIENDS OF LICHFIELD CATHEDRAL {Fellowship of St. Chad) Registered Charity Number ll02791 Annual Report for the year ending 31 December 2024 Pnnwaladdress." The Chapter Offiee. 19a The Ch)se, LKhfield, WS13 7LD 03 306100 Palmns.. Mr lan Dudson, CBE, CSU. Lord Lieutenant of Staffordshire Mrs Albna Turner. JP, Lord thutenant ot Shropshire Pre&ilent The Rl Revd Dr mhael Ipgrave. Bishop of chfield Exeeutwe Councmand Intslees2024/25 Chaimian IExOfftiol.' The Rl Revd J McFarfane ce Ch&rman.' Mrs S Cottrell Mrs N J Provost Treasurer Mr N Platts Events Seuelaw Mrs J McKinven Chap18rApwnled." To be advised E/e¢ledMemberslcWn dale).. Mr C C¥add( Mr P Hanis Mr P Jones Miss K Martin Mi S Shaw Mr J MaxwelkJones Mr C J spe12.7.24l Trustees who haver8fyred.' Mr M Hoprnin(2.3.25I New Iruslees are provided with a copy ol the goveming constitution, a copy of the most recent annual port and accounts and minutes of recent Exetulive Council meetings. New trustee5 receive an email from the Charty Cornmission detailing their responsibibties. They are akn encouraged lo read guidance nole"CC3: The Essentiai TAtee. via the Clty Cornmission web511e. AdmIn/rl0r Mr O Birch Mr M Guest Bankers." Lloyds Bank pk, 22 Conduit Street. U¢hfidd. WS13 &iS IndependentExaller Mark Gumey FCCA of Dains Audit Ltd, St. John's CourL tte11 Road. chfi81d, WS14 9DS Minmnum Svbscnphon." Ltfe Membership (sinO81 Life Membership <i.nI) £425 £600 Annualminiinum SubscnplA7n.' Individual Membership Joint Membership Overseas Membership £25 £40 £40 Effl.. Itiend5 chfi thedral.o W8b address."
THE FRIENDS OF LICHFIELD CATHEDRAL ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2024 Governance The Friends of Lichfield Cathedral. founded in 1937, is governed by a constitution approved on 21 May 2011, revised on 29 June 2022, and is conskn'tuted as an unincorporated association. Trustees The trustees are set out on page l. The chaimian is an ex-officio officer and trustee. The four officers of vice chaiiman, secr8iary. treasurer and events secretary are elected every three years by the membership and are Iruslee5. Two trustees are appointed by the Chapter of Lichfield Cathedral. Nine trustees are elected by the membership for periods of three years and retire in rotation. No ected trustee may seNe more than two terms of three years in one position. In addition. the Executive Council may appoint up lo two trustees to represent the wider interests of the diocese. Objeclives The Friends, sole purpose is to support Lichfield Cathedral as set out in the constitution. namely: To further the religious and other charitable work of Lichfield Cathedral To assist and promote the restoration. maintenance, repair and improvement of the Cathedral and to support the worship. music and minislry of the Cathedral. Aims To meet its objectives. The Friends aim to: Draw into fellowship people with an interest in Lichfield Cathedral Work wrth the Dean and Chaptei in furthering the ieligious and charitable work of the Cathedral Assisi the work of repairing and Preserving the fabric of the Cathedral and precincts, furnishings and veslmenls Support the worship and music of the Cathedral Raise and invest funds to further the objectives of The Friends Organise social events and opportunities for fellowship. Review of Activities and Achievements Four grants totalling £43,767 were made to the cathedral as detailed in note 7 to the accounts. A further 30 Friends were recruited during the year, a net gain of 14 after taking into consideration those who have either left or died. During the year seven social events were held including an afternoon talk followed by lea, three outings. a summer social and a talk and tea following the AGM. The main fund4aising activty was the oiganisation of the annual Christmas Tiee Festival in the cathedral which attiacted large numbers of visitors and raising £15,800. An art exhibition was hosted by The Friends on behalf on the cathedral raising ovei £400.
THE FRIENDS OF LICHFIELD CATHEDRAL ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2024 Financial Review i) Year End Resutts The accounts for the year ended 31 December 2024 are attached. Net assets total £1,003,055 (2023: £975,388). an increase of 2.84°A over Ihe previous year. The Friends finances remain strongly positioned. largely resutting from the receipt of a legacy from the esiate of the late Mr Mark Farrant in previous years. The esiale has yet to be finalised bul when the property is sold a further substantial final payment is anticipated. The total income during the year amounted to £82,818 (2023: £102,429) and the main sources were: Member subscriptions-£15,215 {2023: £15.899) Interest and dividends on investments - £47.577 (2023: £40,655) Sufpluses on social events - £725 {2023: £778) Fundraising activities the main event being the annu Christmas Tree Festival raising a surplus of £15,800 (2023: £19,100). The absence of any legacies during the year laigety accounted for the overall fall in income. Total expenditure during the year amounted to £56,512 (2023: £39,498). The main items of expendrture were.. General and publicity as identified in note 6 of the accounts - £9,630 (2023- £8,598) Grants - £43,767 (2023.. £27,918). The increase in grants made during in the year largely accounted for the overall increase in expenditure ii) Financial Reserves Policy Cash reserves are held in a Lloyds Bank current account for general purposes and a Church of England Deposit Fund account. A Church of England Investmenl Unil Trust Fund is also held which represents 6.150/1 of total assets. The trustees regularly monitor interest rates and investment performance. Net assets are unrestricled, and funds can be freely used by the trustees. The tiustees review total assets at their quarterly executive council meetings. They have estimated that a minimum reserve of £30.000 is required to maintain the efficient running of the charity and to provide the required level of service for a period of one year. In addition, the trustees have agreed in principle io make a grant of £250.000 to the Dean and Chapter for the refurbishment of College Hall for which a specific reserve is iequired. Further reseprfes are also requiied from time to time lo meet the commitments to the Dean and Chapter and as a contingency should unforeseen Cifcumstances arise. The Irusiees consider that net assets ai the present lime meet the foregoing criteria. iii) Financial Controls Policy The trustees have put a Financial Contiols Policy in place as recommended by the Charity Commission in guidance note CC8. This is to ensure that assets are property used, funds are spent effectively, and financial affairs are well managed. The policy is Temewed annualty.
THE FRIENDS OF UCHFIELD CATHEDRAL ANNUAL REPORT FOR THE YEAR ENDING 31 DECEMBER 2024 Risk Review The Iruslees have examined the major internal and extemal risks which the charity faces and confirm that systems have been established to minimise these risks. Public Benefit The trustees confirm that they have referred lo the guidance conlained in the Charity Commission's general guidance on public benefi't when reviewing the charity's &ms and objectives and have complied with their duties under the Charities Act 2011. Signed on behalf of the charity's trustees on 10 April 2025 Sandra Cottrell, Vice Chair
INDEPENDENT EXAMThER'S REPORT TO THE MEMBERS OF THE EXECUTIVE COUNCIL OF THE FRIENDS OF LICHFIELD CATHEDRAL IFELLOWSHIP OF ST CHADI I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which comprise the Staiement of Financial Activities, the Balance Sheet and associated notes set out on pages 6 to 10. Responsibilities and basis of report As the charity's tnlstees you are responsible for the preparation of the accounts in accordance with the requirements of th¢ Charities Act 2011 ('th¢ Act.). I report in respect of my examination of the charity's accounts catried oul under section 145 of the Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission und¢r section 145(5){b) of the Act. Independent examiner's statement I have completed my examination. I confinn that no matertal matters have come to my attention in connection Thith the examination 81Ing me cause to belieN'e ihat in any material respect.. accounting recoTds were not kept in Tespect of the charity as required by section 130 of the Act. or the accounts do not accord with those records- or the accounls do not comply with ihe applicable requirements concerning the forni and content of accounts set out in the Charilies (Accounts and R¢porls) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not 3 man¢r considered as part of an independenl examination. I have no concerns and have come across no oiher matters in conneclion wilh ihe examination to which attention should be dra'n in this report in order to enable a proper understanding of the accounts to be reached. M Gurney FCCA, DChA of Dains Audit Ltd St. John's Court Wiltell Road Lichfield Staffordshire, WS14 9DS Date.. 10 April 2025
FRIENDS OF LJCHFIELD CATHEDRAL IFELLOWSHIP OF ST CHADI STATEMENT OF FINLNCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 l%ote Total 2024 Total 2023 Income from: Donations and similar incoming resources 15,940 16.677 Legacies 22,528 Activities for generating funds 19,301 22,569 Investments 47,577 40,655 Total Income 82,818 102.429 Expendilure on: Raising funds- Chn'stmas tree f¢stival 3,115 2,982 General and publicity expenditure 9,630 8,598 Grants payable 43,767 27,918 Total 56,512 39,498 Net gains/{losses) on investmenls ,381 5,231 Net income/(expenditure) 27,687 68,162 Reconciliation of funds: Total funds brought forward 975,368 907.206 Total funds carried fOard 1.003.055 975,368
FRIENDS OF LICHFIELD CATHEDRAL IFELLOWSHIP OF ST CHADI BALANCE SHEET 31 DECEMBER 2024 Notes 2024 2023 Fund balances General fijnds 1.003.055 975,368 The fund balanees are represented by: Investments Ib&9 61.733 60,352 Current assets DebtOf5 CBF deposit Cash at bank and in hand io 16,352 908,607 22,096 8,671 887,816 23,152 947,055 919.639 Current liabilities Creditors- Grant Other 1.021 3.602 5,733 5.733 4,623 Net current assets 941,322 915.016 Net assets 1,003,055 975.368 The Members of the Executive Council acknowledge their responsibilities for: Ensuring that the Charity keeps accounting records which comply with the Charities Act 2011. Pr¢partng accounts which give a true and fair view of the stste of affairs of the Charity as at the end of each financial year and its financial activities for each financial year in accordance with the requirements of the Charities Act 201 I relating to accounts so far as applicable to the Charity. These accounts were approved by the Executive Council on 10 April 2025 and signed on their behalf by.. S Cottr¢ll l Members of the N Plalts } Executive Council
FRIENDS OF LICHFIELD CATHEDRAL [FELLOWSHIP OF ST CHADI NOTES TO THE ACCOUN'TS 31 DECEMBER 2024 Accounting Policies The accounts have been prepared in accordance with the Statement of Recornmended Practic¢'. Accounting and Rew)rting by Charities preparing their a¢¢ounts in accordance 'ith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective l January 2019 and ihe Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Acl 2011. The charity constitutes a public benefii entity as defined by FRS 102. The accounts are prepared on an historical cost basis excepl thai investments are included at maTk¢t valu¢. The accounts have been prepared on an accruals basis. Life Members pay a one-off subscription which 15 credited to income in fi]11 in the year of receipt. Grants payable are charged in the year when the offer is conveyed to the Tecipient, except in ihose cases wheTe the oifer is ¢ondilional. such grants being recogni5ed as expenditure when the conditions attaching are fulfilled. Grants offered subject to condition5 which have not been m¢1 at the year end are noted as a commitment but nol accrued as expenditure. bl dl Don2tlODS and similar incoming resources 2024 2023 Subscriptions and donations including gift aid Social events surplus 15,215 725 15,899 778 15,940 16,677 Legacies Mr M H L Farrant Miss L J Gibson Mr J R Patten Mrs C M Chadbourne 2,526 5,225 12.777 2,000 22,528 Activities for generating funds Christmas Tree Festival including gift aid Other 18,888 413 22,074 495 19,301 22,569 Investment income Income from listed investments Deposit interest 1,675 45,902 1,650 39,005 47,577 40,655
FRIENDS OF LJCHFIELD CATHEDRAL IFELLOIIISHIP OF ST CHADI NOTES TO THE ACCOUNTS 31 DECEMBER 2024 Icontinuedl 2024 2023 General and publicity eipenditure Dean and Chapter- administration Independ¢nl examination Annual Report and Mailings Trusiees, and public liability insurance Sundry expenses including leafl¢ts and totem Legal advice 5.100 810 1,789 392 90 1,449 5,100 810 1,814 392 482 9,630 8,598 Grants pavable Dean and Chapter- The Beach Lighiing modules Uplighters Petit exhibition Outside benches including plaques CT055 and Lights for St Chad's Shrine PA System 16,950 17,737 1,990 7.090 15,750 1,147 1,021 10,000 43,767 27,918 Related partv transactions and trustees remuneration g1]d expenses No remuneration OT expenses. direcily or indirectly.. out of the fuT)ds of the Charity were paid or pa)'able for ihe ycar 10 any truslee or to any person or person5 known to be connected to them. (2023 - £nil). 2024 2023 Ini'estrnentS Inv¢stmenls held at l January 2024 60,352 55.121 Net gainl (loss) on revaluation 1,381 5,231 Investments held at 31 December 2024 61,733 60,352 The Investments comprise 2669.83 units CBF Investment Fund 61,733 60,352 10. Debtors Tax repayable Legacies Other Accrued interest 1,593 1.241 2,000 5,430 3,973 10.786 16,352 8,671
FRIENDS OF LICHFIELD CATHEDRAL [FELLOWSHIP OF ST CHADI NOTES TO THE ACCOUNTS 31 DECEMBER 2024 IContinued] ii. Contingent Asset The trustees have been notified thai the charity is the beneficiary of an estate for which the amounts to be paid io ihe charity have not yet been confinned. In view of the uncertainty over the amounts that may be received. the trustees have concluded thal the condition5 for recognition of these legacies have not yet been met and accordingly these legacies are not reflected in the financial statements. 12. Future Commitment An agre¢ment in principle has been made by the trustees lo make a grant of up to £250,000 to the Dean and Chaptei to fund the cost of ihe refurbRshment of Colleg¢ Hall. The project IS Still at the inception stage and estiTnates costs have been prepared. A firni scheTne has y¢1 to be decided upon, worked up and tenders obtsined.