THE FRIENDS OF THE CITY CHURCHES
Trustees, Annual Report
and Financial Statements
for the
Year Ended 31 March 2024
Registered Charitable Incorporated Organisation (CIO) 1155049
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THI FRIINDS',CITY CHURLHL
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The Friends of the City Churches
Contents of the Financial Statements for the Year Ended 31 March 2024
Page
Report of the Trustees
2tolO
Independent Examiner's Report
11
Statement of Financial Activities
12
Balance Sheet
13
Notes to the Financial Statements
14to24

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charitable Incorporated Organisation Number
1155049
Address
St Mary Abchurch
Abchurch Yard
London
EC4N 7BA
Trustees
Oliver Leigh-wood
David Jessop
Sonja Judith Guy-Briscoe
Michael Charles Rumsey Normington
Nancy Jane Branson
Clive Donald Cutbill
Helen Clare Pa5sey
John Arthur Cecil Reynolds
Le51ey Diane Thrift
Tony Tucker
Steven Dennis Welsh
Chairman
Vice Chairman
Honorary Secretary
HonoraryTreasurer {app 20 September 20231
Co-opted 9 February 2024
Co-opted 9 February 2024
Resigned 11 April 2024
Resigned 11 April 2024
Co-opted 9 February 2024
The Chairman has indicated that he will be standing down at the forthcoming AGM, and will
not be offering himself for re-election.
Independent Examiner
Shoaib Arshad
Knox Cropper LLP
Chartered Accountants
65 Leadenhal I Street
London
EC3A 2AD

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
The Trustees present their report with the financial statements of the charity for the year
ended 31st March 2024. The Trustees have adopted the provisions of Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS1021 (effective l January 20191,
OBJECTIVES AND ACTIVITIES
Objectives and aims
In the year 2023 to 2024The Friends of the City Churches have continued to fulfil their
stated objectives..
To preserve and protect for the public benefit:
Churches and cha pels of a rchitectural and/or historic interest situ ated in the City of
London, whether belonging to, or formerly used by, the Church of England, or any
other body;
The monuments, fittings, fixtures, organs, stained glass, furniture, ornaments and
chattels of any such church or chapel and their unlted parishes,.
The churchyards and burial grounds belonging to or formerly belonging to any such
church or chapel.
These are principally achieved by 'Church Watching,, the making of small grants to City of
London Churches and the education of the membership and others in relation to the City
churche5 and related issues.
Public benefit
The Trustees confirm that they have referred to the guidance in the Charlty Commission's
general guidance on public benefit when reviewing the charity's aims and objectives and in
planning future activities.
Skyline
Skyline is the FCC'S magazine, which is sent free of charge to members of the charity
{"Friends"l. In the light of rising postal charges, the decision was taken at the start of the
year to reduce the number of issues from fourto three per annum.
This year we highlighted Christopher Wren for Wren300, 3 multi-faceted celebration of the
life and work of the renowned architect, mathematician, astronomer and scientist on the
tercentenary of his death, and his work was discussed from many different aspects. We
were privileged to receive articles by contributors who are not Friends.
As always, we are beholden to learned bodies and Individual photographers who waive fees
for their copyright photographs. This is done on the understanding that Skyllne is received
by registered supporters and cannot be purchased separately,
We now have a reciprocal advertising arrangement with SAVE Britain's Heritage, and are
glad when others advertise.

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
Skyline {Contd)
The editor could not manage without the advice of Trustee Nancy Branson. Walter Guy-
Briscoe has hung up his proof-reading pencil, but Sally Phillips and Elaine Turner continue to
find errors which the editor misses. John Finn's design always has delightful surprises (that is
what makes so many Friends mistakenly praise the editor). Jonathan Causer ha5 now
indexed all the back issues of Skyllne and the Newsletter which preceded it. This is freely
accessible on the website. Micropress, our printers, continue to give us a helpful, reliable,
service.
Church Watching
Church Watching is the very public face of FCC'S role, keeping City churches open for visitors
to. enjoy their architecture and peaceful environments. We are still experiencing an
increasing number of visitors to our Watched churches. We are pleased to report that St
Andrew by the Wardrobe is now being Watched again on a Friday courtesy of the Coptic
Church.
Watchers, sign-up meetings have been held at St Michael Paternoster Royal. Thls has been a
good space for our gatherlng and has proved a popular venue but this venue is no longer
available due to the closure of the church.
Lesley Thrift is responsible for ensuring Watchers are aware of FCC'S Safeguarding Policy,
which has been updated. She is very ably assisted by a Rota Manager team of Judy Guy-
Briscoe, Vanessa Morris, Helen Passey, Marion Watson and Steve Welsh, who all do a
sterling job. The Rota Manager role is two-way. both communicating between churches and
Watchers, for example, informin8 Watchers of changes in relation to a particular church, but
also passing on Watchers, comments to the church, and letting the church know when a
particular date's Watchers need to change.
Several new Watchers joined the scheme during the year, for which we are always very
grateful. Balanced against this we lost a few Watchers who felt that their journeys from
home to church were too taxing, obviously not helped with all the train strikes this year.
FCC Friends, events
Much postponed, and hugely successful was the Chairman's outing to four churches in
Romney Marsh. John Hendy of the Romney Marsh Historic Churches Trust gave us
information with a historical perspective at Brookland, Fairfield, Ivychurch, and Old Romnev.
The weather was on our side too. as we crossed bone-dry fields which might have been
quite squelchy. The Chairman's outing for 2024 embraced more churches of Romney Marsh.

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
FCC Friends, events (contd).
Friends were invited on walks led by a loyal clutch of City Guides: Karen Chester reconciled
the pantomime and real-life Dick Whittington. and after Christmas gave a lecture on lost
churches, which she followed up with three popular walks. John Finn discussed Fleet Street,
and Tim Kidd presented the Bank of England's art collection in an illustrated talk. Anne
Tickell was also obliged to repeat her walk through Tower Hamlets cemetery, the final
resting place for many City grandees. Her walk through Canonbury was equally fascinating.
Tony Tucker guided Friends past City Steeples twice as the tube strike had a major impact on
the first walk, and he also gave an illustrated lecture on Wren's churches.
Friends had specialist host-guided visits at Trinity House, founded by Henry Vlll and the
London Metropolitan Archives, where we were shown the documents pertaining to the
establishment of the original Friends of the City Churches. We were also hosted by St Alfege
In Greenwlch to continue our interest in Hawksmoor.
In July The London Topographlcal Soclety invited us to have a table at thelr AGM at St Giles
Cripplegate and asked our Chairman to address them.
Finally church services: Friends had a memorial service for late Trustee Brian Evans in April
2023. The Bishop of London attended a Wren commemoration in June, and the carol service
was enhanced by the pupils of Lady Margaret School Chamber Choir. Callum Anderson
returned to play the organ for us alongside lan Shaw.
Small Grants Programme
Through the FCC Small Grants programme, Trustees can award a maximum of £10,000 per
project to small scale repairs or improvements in or outside a City church. The income
arising from the Melba Coombs Endowment may also be used, up to a maximum of £2,000
per project.
The following grants have been awarded during the financial year 2023/24
St Magnus the Martyr: Aisle roof repairs (£5,000);
St Andrew by the Wardrobe: Accessible entry to the church {£S,000}'
St Dunstan in the West.. Contribution to new Bell Tower ladder1£5,000);
St Katherine Cree: Additional Sanctuary Lighting (£1,100);
St Olave Hart Street: Restore and reinstall 16th century ledger stone {£5,000);
St Lawrence Jewry: Contribution to new sound system {£5,000}.
At 31 March 2024, there were nine outstanding grants which had been approved by the
Trustees but where the work awaits completion, with a value of £31,080.

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
Clty Events
The City Events listing guide to services, talks and musical events being held in the City
churches continues to be published every two weeks online as a downloadable PDF.
FCC Friend Ingrid Slaughter continues to provide an invaluable up-to-date section covering
details of the services being held in the City churches, both regular and special. She also
compiles a concise summary of the events such as concerts, recitals and lectures being held
in the City churches. It would appear that the two-weekly online version of City Events
continues to be accessed regularly by an enquiring public and thus provides a useful service
concerning what is taking place in the City churches. Our online presence is gradually
improving and in March 2024 was viewed 797 times, an increase of 3% on the previous
month.
Merchandise
There was one new Christmas card this year, using an interesting view of the chandelier in
St Dunstan in the West. The image was taken by Watcher Terry Freestone who also
produced the images used in our calendar. The calendar was well received, and we will be
producing another this year.
OUR SUPPORT FOR CHURCHES - St Mary Abchurch
The Friends has now been headquartered at St Mary Abchurch for over 11 years. During this
time, we have been responsible for the building and have opened it up for services, private
prayer and a growing number of tourists. During this period the Charity has taken all church
rental and collection income and paid all day-to-day expenses (including utilities) associated
with the building, and has also paid the church's Annual Common Fund Contribution to the
Diocese.
However, this arrangement will expire on 30 September 2024, when the Guild Church
Council of St Mary Abchurch will assume the responsibility for the day to day running of the
church, and the FCC will be moving its office.
We are grateful to Deputy Chairman, David Jessop, who has coordinated this activity in his
role as Church Manager, and who has been carrying out this task for in excess of eleven
years, an immense commitment that should be recogni5ed. We also thank Bob Solomon
who each week ha5 cleaned and polished St Mary Abchurch thereby keeping it looking
excellent.
St Mary Abchurch, Services
There is a regular service of Holy Communion every Wednesday at 12:30 pm.
The Priest-in-charge, Malcolm Torry, added an extra service of Holy Communion each
Tuesday at 11.30 am. This has started to attract new communlcants.
Our major event this year was a service of Evensong in June held to commemorate the life
of Sir Christopher Wren, who died in 1723. A full church heard the Bishop of London, The Rt
Revd and Rt Hon Dame Sarah Mullally talk of the continuing importance of Wren to the City
of London and elsewhere.

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
The Friends held their annual carol service in St Mary Abchurch in December and many
other organisations also chose to celebrate the season in our church - including amongst
others the Candlewick Ward Club, the oldest Ward Club in the City of London and Tyndall
Riley and Company Ltd. In JanuaryThe Worshipful Company of Fruiterers held their annual
St Paul's Day service in the church at which they appointed a new Master.
St Mary Abchurch, Income generation
During 2023-24, our last full year of responsibility for the operation of St Mary Abchurch, we
have worked to keep costs under control by letting out the building as much as possible
although this is particularly challenging in an era of rapidly rising energy prices. The London
Chinese Philharmonic Choir continue to rent the space each Tuesday evening and other
choirs such as the Magnificat Choir and Stile Antico often come here. The Guildhall School of
Drama and Music has 'discovered' that the church is a superb space for all types of music
and several of their students have performed lunchtime concerts during the year. Various
groups, for example, Wren 300, have held lectures and talks in the building. The children
from Orwell Park Prep School, Nacton, Ipswich again held their school concert at the church
it is now 10 years slnce this tradition was started and St Mary Abchurch now has a very
strong association with staff and pupils from the school.
The church has continued to hold a Tuesday lunchtime organ recital, given by lan Shaw.
FINANCIAL REVIEW
Flnancial Posltion
At the beginning of 2024 it was agreed that the financial statements previously submitted
for the financial year 2022/23 should be restated to provide a more accurate picture of the
financial position, and this restatement has been carried through into the financial
statements for 2023124.
A statement of financial activitles is included on page 12.
There was a net movement in funds of a deficit of £17912023: £9,307). Gross income for the
year was £96,38412023: £99,345). Voluntary income sources represented £86,99512023:
£92,659), and a further £9,389 (2023: £6,686) was earned from the investment5. Investment
income includes £3,093 {2023: £3,556) for the Melba Coombs Endowment.
An analysis of the funds is shown on page 21. As at 31 March 2024, the total value of funds,
both restricted and unrestricted, amounted to £323,89912023: £324,078).
Investment Policy & Objectlves
The charity's unrestricted funds are largely held in cash.
The capital of the Melba Coombs Endowment 15 held in income units in the Church of
England Charities Investment Fund. The Fund aims to provide a total return (growth in
capital and income) over the long-term {defined as five years). The fund follows a client-
driven ethical investment policy.

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
Reserves policy
The FCC'S unrestricted reserves stand at £195,841 (2023: £211,339).
The Trustees last reviewed the position in relation to these reserves on 5 September 2024.
The trustees concluded that, given the current annual deficit and the unpredictability of
donations and legacy income, these reserves should be retained for the time being to
ensure that the FCC will have sufficient funding to fulfil its medium to long-term plans in
support of its core activities.
The Trustees will continue to keep the level of reserves under review,
Golng Concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the
FCC has adequate resources to meet any commitments and sustain a comparable level of
activity for at least the next twelve months from the approval of the financial statements,
and therefore the financial statements have been prepared on the going concern basis.
STRucfuRE, GOVERNANCE AND MANAGEMENT
FCC is a Charitable Incorporated Organi5ation ICIOI and operates under the 'Association
Model, constitution for such organisations.
Trustees are appointed bythe members of the CIO (Friends) at the Annual General Meeting
and serve for three years after which they may offer themselves for re-election. Four of the
Trustees are ex-off icio appointments: Chairman, Vice-chairman, Honorary Treasurer and
Honorary Secretary.
All Trustees are required to have read the 'Gulde to Trustees, Dutles, and 'Guidance on
Public Benefit,, publications issued by the Charity Commlssion for England and Wales, and to
update themselves regularly on matters associated with the operation of small charities. To
that end, all Trustees are directed to the regular Newsletters of the Charity Commission and
relevant points are highlighted.
The Trustees have complied with their duty under law {s1715), Charities Act 2011) to have
due regard to the Charity Commission's public benefit guidance when exercising powers or
duties to which the guidance is relevant. FCC is fully compliant with the requirements of the
General Data Protection Regulation IGDPR).
Oliver Leigh-wood and David Jessop are Churchwardens of St Mary Abchurch and members
of its Guild Church Council. In compliance with the FCC constitution and conflicts of interest
policy, they have taken no part in any of the recent discussions relating to the FCC'S
occupation of St Mary Abchurch. Apart from this, the Trustees do not carry on activities,
whether voluntary or for profit, which conflict with their duties for FCC. Several Trustees,
however, do have roles in other charities or in churches, or work for their own account.
These activities are separate from their work for FCC. None of the Trustees receives
remuneration for work for FCC. A policy for Trustee expenses claims is in place.

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
STRucfuRE, GOVERNANCE AND MANAGEMENT (Contdl
The Trustees hold ten meetings each year to discuss strategic planning and priorities, to
receive and act on reports in respect of specific areas of activity, and to agree financial
commitments, includin8 the award of grants under the FCC Small Grants Scheme.
Karen Hearn (Administrator) and Judy Stephenson (Editor, Skyllne) attend Trustee meetings
as observers. The editor, like the Trustees, is not remunerated but only reimbursed for
direct expenses in line with FCC policy.
In April 2024, two Trustees, John Reynolds and Tony Tucker, stood down after many years,
Service and became Honorary Vice Presidents. Three new Trustees were co-opted by the
Trustees in February 2024. Of the latter, all are Watchers, two are Rota Managers and the
third a solicitor with many years, experience of advising charities; all three off er themselves
for election, for a three-year term, at the forthcoming AGM.
Trustees, responsibillties statement
The trustees are responslble for preparing the trustees, report and the accounts in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice). The law applicable to charities in England and
Wales requires the trustees to prepare accounts for each financial year which give a true
and fair view of the state of affairs of the Charity and of the income and expenditure of the
Charity for that period. In preparing these accounts, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the Methods and principles in Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable to the United
Kin8dom and Republic of Ireland IFRS 102);
make judgments and estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards have been followed,
subject to any material departures disclosed and explained in the accounts; and
prepare the accounts on the going concern basis unless it is inappropriate to
presume that the Charity will continue in operation.
The trustees are responsible for keeping accounting records that disclose with reasonable
accuracy at any time the financial position of the Charity and enable them to ensure that the
accounts comply with the Charities Act 2011, the applicable Charity (Account5 and Reports)
Regulations 2008 and the provisions of the governing document. They are also responsible
for safeguarding the assets of the Charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and
financial information included on the Charity's website. Legislation in the United Kingdom
governing the preparation and dissemination of financial statements may differ from
legislation in other jurisdictions.

The Friends of the City Churches
Report of the Trustees for the Year ended 31 March 2024
The Friend5
The Friends of the City Churches had 971 members, in single or joint accounts, in the
database as of 31 March 2024. Of these, 51 have Life Membership141 single, Iojointl, an
increase of 8 over last year. We also have 27 Honorary Friends who are eminent supporters
of the charity and 49 City clergy and parish administrators, who receive Skyline. The total
membership shows an increase on that of last year. There is a steady stream of new
members many of whom decide to become Watchers. The total figure also reflects 78 single
orjoint memberships, a reduction of 19, who pay at substantially below the current
subscription levels, and who no longer receive Skyline.
Friends are reminded that in order to speak and vote at the FCC AGM they need to be
paying the correct subscription rate. The current membership rates are always shown at the
bottom of the back page of every issue of Skyllne; the boilerplate, as it is known.
Webslte
During 2023-24 Alexey Moskvin maintained the FCC webslte at htt
www.london-cit
churches.or
.uk with information about the Friends, Church Watching, Friends Events, City
Events, Friends, merchandise and the individual City Chiirches.
CONCLUSION
We thank the Friends for their continuing loyal and generous support, and we look forward
to the increased footfall in our Watched churches as the City continues to open up again to
tourism.
We also thank Karen Hearn, our Administrator, who continues to run the Friends, Office and
maintain the smooth running of the Friends organisation, providing assistance to all, in
person, over the telephone and by emall. In addition we are grateful to Chris Axell for IT
support, Janyce Rogers for filing and record keeping, and Jennlfer Sharpley for Events
administration.
On behalf of FCC, we also thank our Archdeacon, The Ven. Luke Miller; the Area Dean. The
Revd Katherine Hedderly, Diocese of London, and the Rt Rev and Rt Hon Dame Sarah
Mullally DBE, Bishop of London and the Rt Rev and Rt Hon Lord Chartres GCVO Chstj PC FSA,
for their continued su
throu
hout the year. We also thankThe Revd Dr Malcolm Torry
for his services at St Ma
d for his support over the year.
Approved by the Trustees on
2024, and signed on their behalf by
Oliver Leigh-wood, Ch
rman of the Trustees
The Friends of the City Churches
10

THE FRIENDS OF THE CITY CHURCHES
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF
THE FRIENDS OF THE CITY CHURCHES FOR THE YEAR ENDED 31 MARCH 2024
I report to the charity trustees on my examination of the financial statements of The Friends of the City
Churches for the
ear énded 31 March 2024.
R8sponsibilities and bas15 of report
As the trustees of the The Friends of the City Churches you are responsible for the preparalion of the
accounts in accordance with the requirements ofthe Charities Act 2011 I'the 2011 Act,). You are satisfied
that the accounts are not required by charity law to be audited and have chosen instead to have an
independent examination.
Having satlsfied myself that the accounts of the The Friends of the City Churches are not required to be
audited under charity law and are eligible for independent examination, I report in respect of my
8xamination of the accounts carried oul under section 145 of tha Charities Act 2011 {'Ihe 2011 Act,). In
Carrying out my examination I have followed tha Directions given by the Charity Commission under section
145{5)Ibl of the 2011 Act.
Independent examiner's statement
I can confirm that l am qualifi8d to undertake the examination because l am 8 r8glstored member of
ICAEW which is one of the listed bodi8S.
I have completed my 8xaminatlon. I confirm that no matters have com8 to my attention In Connection with
the examination giving me cause to believe that in any malerial respect..
accounting records were not kept in respect of the charity as required by section 130 of the 2011
Act., or
the accounts do not accord with those records., or
the accounls do not comply with the accounting requirements of concerning the form and content of
accounts set out In Ihe Charitles (Accounts and Reports) Regulation5 2008 other than any
requiremant that the accounts giv8 a 'true and fair view which is not a matter ¢onsidered as part of
an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of Ihe accounts to b8
re8ched.
Shoaib Ar
had
Knox Cropper
Chartered Accountants
4 October 2024
11

THE FRIENDS OF THE CITY CHURCHES
STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating the Income and Expenditure Account)
For the y8ar ended 31 March 2024
Unrestricted
Funds
2024
Restricted Endowment
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
Note
INCOME AND ENDOWMENTS FROM:
Don81ions and legacies
Charitable activities
Other trading activities
Investments
42.985
28,897
12,614
6,289
90,785
2,499
45,484
28,897
12,614
9,389
96,384
46.089
32,003
14,567
6,686
99,345
TOTAL
EXPENDITURE ON:
Raising funds
Fundraising trading.. Cost of goods
sold and other costs
Charilable activities
TOTAL EXPENDITURE
117
106,166
106,283
117
106 166
106,283
2,075
102, 638
104,713
Net expendlture before galns and
losses on investments
Nel gainsl(losses) on investments
Net expenditure
Transfer between funds
115,498)
3,093
2,499
9,720
12,219
(9,8991
(5,368)
3,939
(9,307)
(15,498)
3,093
1179)
15
NET MOVEMENT IN FUNDS
(15,498
3,093
12,219
(179)
(9,307)
RECONCILIATION OF FUNDS:
TOTAL FUNOS AT 1 APRIL 2023
211.339
9,411
103,328
324,078
333,385
TOTAL FUNDS AT 31 MARCH 2024
195.841 £
12504 £ 115,547 £ 323,899 £ 324,078
12

THE FRIENDS OF THE CITY CHURCHES
BALANCE SHEET
As at 31 March 2024
Notes
2024
2023
FIXED ASSETS
Investments
115,547
103,327
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
2,068
18,434
244,844
265,346
576
12,850
254,528
267,954
12
CREDITORS: amounts falllng due
wlthln one year
NET CURRENT ASSETS
13
141,810)
223,536
134,363)
233,591
TOTAL ASSETS LESS CURRENT
LIA81LITIES
339,083
336,918
CREDITORS: amounts falllng due
after one year
14
(15,184)
(12,840)
TOTAL NET ASSETS
323 899
324,078
FUNDS
Unrestricted funds..
Designat8d funds
General fund
15
15
1,556
194,285
195,841
12,511
115,547
323,899
1,556
209, 783
211,339
9,411
103,328
324,078
Restricted funds
Endowment funds
15
15
The finandal 5tatemenls have been prepared in accordance with section 18 of the Financial Reporting
Stsndard 102.
Inan
al statements were approved, and authorised for issue, by the Board of Trustees on
and signed on their behalf by'.-
OLIVER LEIGH-WOOD, Chairman of the Trusl
The annexed notes form part ofthese financial statements
13

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
ACCOUNTING POLICIES
Basis of preparation of financial statements
The financial statements of the charity. which is a public benefit enlily under FRS102, have been
prepared under the historical cost conv8ntion, except for investments which are included at market
value and the revaluation of certain fixed assets. They have been prepared in accordanc8 wilh
applicable United Kingdom accounting stand8rds, the requirements of the Statement of Recommended
Practice 'Accounting and Reporting by Charities, (SORP 2019), in accordance with the Financial
Reporting Standard applicable in the UK IFRS 102) applicab18 to smaller entities and the Charities Act
2011. The presentalional currency of th8 flnancial statements is Pound Sterling (£).
The Trustees consider that there are no maleri81 uncertainties aboul the Trust's ability to ¢ontinu8 as
going concern.
Entity status
The Friends of the City Churche5 IS 8 CIO. Charitable Incorporated Organisalion.
Cash Flow
The financial statemenls do not Include a cash flow statement because the charity , as a small reporting
8ntity, is exempt from the requlrement to prepare such a statement under the FRS102.
Fund accountlng
General funds are unrestricted funds which are available for use at the discretion of the Truslees in
furtherance of the general objects of the Charity and which hav8 not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set 8side by the Trust88s for particular
purposes. The alm and use of each designated fund is sel out in the notes lo the financial statemènts.
Restricted funds are funds which are to be used in accordance with Specific restrictions imposed by
donors which have been raised by the Charity for particular purposes. The cost of administering such
funds are charged agalnst the specific fund. The aim and use of each restricted fund is set out in the
notas to the financial statements. Statutory grants which are given as contributions towards the
Charitrfs core services are treated as unrestricted.
Incoming resourc8S
Revenue grants are credited to incoming resources on the earlier date of when they are received or
when they are receivable, unless they relate to a specific future period, in which case they are deferred.
All other incoming resources are included in the Ststement of Financial Activities (SOFA) when the
charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Investm8nt Incom8 Is recognised on an accruals basis.
Income tax recoverable in relation to Investment income or Gift Aid donatlons is recognised at the time
the relevant income is receivable.
Olher income is included in Ihe Statement of Financial Activities when the Charity is legally entitled to
the income and the amount can be quantified with reasonable accuracy.
14

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
Resources Expended
All expenditure is aGGounted for on an accruals basis and has been included under 8xpense categories
that aggregate all costs for allocation to activities. Support costs, including governance costs, which
cannot be directly altributed to particular activitles, have b88n apportioned proportionat81y to the direct
staff costs allocated to the activit18s. Governance costs include the costs of servicing Trustees,
meetings, audit 8nd strategic planning. Irrecoverable VAT is charged against the category of
resources expended for which it was incurred.
Debtors
Trade and other debtors are recognised al the settlement amounl due after any trad8 discount offered.
Prepayments are valued at th6 amount prepaid net of any tr8de discounts due,
Cash at bank and In hand
Cash al bank and cash In hand Sncludes cash and short term highly Ilquid inveslmenls with a short
maturity of three months or less from the date of acquisllion or opening of the deposit or sirnilar
account.
Credltors and pmvisions
Creditors and provisions are recognised where the charity has a present obligation resulting from 8 past
event that will probably result in the transfer of funds lo a third party and the amount due to settle the
obligalion can be measured or estimated reliably. Creditors and provisions are normally recognised at
their seltlemant amount after allowing for any trade discounts due.
Financial Instrument8
The charity only has financlal assets and financlal liabilities of a kind thai qualify as basic flnancial
instruments. Basic flnanclal Instruments are inltlally recognised at transaction value and subsequently
measured at their s8ttlem8nl v81u8.
Judgements and key sourGes of estimation uncertainty
Judgements and key sources of estimation uncertainty are detailed in the above accounling policies,
where applicable.
2. DONATIONS AND LEGACIES
Unrestricted
Funds
2024
Re8tricted
Funds
2024
Restrlcted
Funds
2024
Total
Funds
2024
Tolal
Funds
2023
Donations
Legacies
19,825
23,160
42,985
2,499
22,324
23,160
45,484 £
36,866
9,223
46,089
Nil £
2,499 £
15

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
Comparative donatlons and legacles
Unrestricted
Funds
2023
R8Stricted
Funds
2023
Restricted
Funds
2023
Tot81
Funds
2023
Donations
Legacies
13,671
9,223
22, 894 £
23, 195
36,866
9,223
46,089
Nil £
23, 195
3. INCOME FROM OTHER TRADING ACTIVITIES
Unreslrlcted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Total
Funds
2023
Rental income
Trading Income
10,812
1,802
12,614 £
10,812
1,802
12614 £
12,440
2,127
14,567
Nll £
Comparatlve income from other tradlng actlvities
Unrestricted
Funds
2023
Rastrlcted
Funds
2023
Tot81
Funds
2023
Rental Incomg
Trading inGome
12,440
2, 127
14,567 £
12,440
2,127
14,567
Nil
16

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
4. INVESTMENT INCOME
Unrestricted
Funds
2024
Re8tricted
Funds
2024
Total
Funds
2024
Total
Funds
2023
Interesl receivable from:
Investments
Bank interest
3,100
3,100
6,289
9,389 £
3,556
3, 130
6,686
6,289
6,289 £
3,100 £
Comparative Investment Income
Unrastricted
Funds
2023
Restricled
Funds
2023
Total
Funds
2023
Int8rest receivable from..
Fixed interest investments
Bank int8rest
3,556
3,556
3, 130
6,686
3,130
3,130 £
3,556
5. INCOME FROM CHARITABLE ACTIVITIES
Unrestrlctad
Funds
2024
Restrlcted
Funds
2024
Total
Funds
2024
Total
Funds
2023
Membership fees
Fee income
22,733
6,164
28,897
22,733
6,164
28,897 £
25,862
6,147
32, 003
Nll £
ComparatlV8 Income from charltable actlvities
Unrestricted
Funds
2023
Restricted
Funds
2023
Tot81
Funds
2023
Membership fees
Fe8 income
25,862
6,141
32,003 £
25,862
6,141
32,003
Nil
17

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
6. RESOURCES EXPENDED
Grant
fundlng of
activities
Other dlrecl
costs
Support
costs
Total
2024
Staff c08ts
Cost of charitable aclivitles
Total charitable
expenditure
Fundraising trading: Cost
of goods sold and other
costs
26,100
19,570
47,914
12.582
106,166
26,100
19,570
47,914
12,582
106,166
117
48,031
117
12 582 £ 106,283
26,100 £
19,570 £
Comparative resources expended
Grant
funding of
activities
Oth8r dlract
costs
Support
costs
Tot81
2023
Staff cosls
Cost of charitable
activitl8S
Total Gh8ri18ble
expenditure
Fundralsing tradlng,. Cost
of goods sold and other
osts
39,970
18,051
36,016
8,601
102.638
39,970
18,051
36,016
8,601
102, 638
2,075
38,091 £
2,075
8,601 £ 104,713
39,970 £
18,051 £
7. SUPPORT COSTS
Total
2024
Total
2023
Governance costs
Independent examlnalion
Insurance
General overheads
Website and assocfjated costs
345
2,400
900
4,978
3,959
12,582 £
25
450
378
4,444
3, 304
8,601
18

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
8. STAFF NUMBERS AND COSTS
2024
2023
Wages and salaries
Pension costs
18,683
887
17,321
730
19570 £
18,051
No employee received remuneration of more than £60,000.
The key man8gement personnel of th8 Charity are those persons havlng authority and responsibility for
planning, directing and controlling th8 activities of the Charity, directly or indirectly, including any
Trustee of the Charity. In addition to the Trustees, key management personnel includes Ihe Principal
Officers. Aggregate remuneration and benefits paid to key management personnel during the y8ar
amounted to £NIL {2023 - £NIL).
9. TRUSTEES REMUNERATION AND BENEFITS
During the year, no members of the Board of Trustees received any remuneration (2023 - £NIL).
No members of the Board of Trustees received reimbursement of expenses {2023- £NILJ,
10. Taxatlon
The Friends of the City Churche5 Is a registered charity and is potentially exempt from taxation in
respect of income and capital gains received within the ulegories covered by Parl 11 of the
Corporallon Tax Act 2010 or Sectlon 256 of the Taxation of Chargeable Gains Act 1992 to the extent
that such Income or galns are applled to charitable purposes.
11. INVESTMENTS
2024
2023
Cost
At 1 April 2023
Additions
Unrealised galns1105ses
At 31 March 2024
103,327
2.500
9,720
£ 115,547
84,071
23, 195
3,939
103,327
19

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
12. DEBTORS
2024
2023
Due withln one year
Prepayments
Olher debtors
5,479
12,955
18,434
500
12,350
12,850
13. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2024
2023
Trade creditors
Oth8r creditors
Accruals
1.140
2,074
38,596
41,810
34,363
14. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
Group
2024
Group
2023
Deferr8d income - Lif8 membershlp
15,184
12.840
12,840
20

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
15. STATEMENT OF FUNDS
Transfers and
Resources
Investment
Expended gain$l(108sos)
Brought
Forward
Incomlng
Resources
Carrled
Forward
DESIGNATED FUNDS
Téxtile fund
1,556
1,556 £
1,556
Nil £
Nil £
Nll £
RESTRICTED FUNDS
Melba Coombes Fund
Church Recording Soci8ty
Fund
8.732
3,093
11,825
679
686
9,411
Nll £
Nll £
SUMMARY OF FUNDS
Designated Funds
General Funds
1,556
209,783
211,339
9,411
103,328
324,078 £
1,556
194,285
195,841
12,511
9,720
115,547
9.720 £ 323,899
90,785
90,785
3,100
2,499
96,384 £
106,283
(106,283)
Reslrlcted Funds
Endowmant funds
106,283
Comparative statement ol funds
Transfers and
Resources
investmont
Expended galns/(losses)
Brought
Incomlng
Forward ResourGes
Carrlgd
Fotward
DESIGNA TED FUNDS
Textile fvnd
1,556
1,556 £
t,556
1,556
Nll £
Nll £
Nll £
RESTRICTED FUNDS
Melba Coombes Fund
Church ReGording Society
Fund
4,530
3,556
646
,732
679
679
5,209 £
Nil £
646 £
9,411
SUMMAR Y OF FUNDS
DeS￿nated Funds
General Funds
1.556
241,345
242,901
5,209
1,556
209,784
211.340
9,411
72,594
72,594
3,556
104,713
(104,713)
558
558
646
Restricted Funds
Melba Goombes
Endowm8nt funds
85,275
23,195
(5.143)
103,32T
£ 333,385 £
99,345 £
104,713
3,939
£ 324,078
21

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrict8d Funds
De8lgnated
General
Funds
Funds
Restricted Endowment
Funds
Funds
Total
Funds
Fixed asset investments
Net current 8ssets
Creditors due In more than
one ye8r
115,547
93,922
115,547
223,536
1,556
12,511
115,547
115,184)
1,556 £ 194,285 £
(15,184)
12,511 £ 115,547 £ 323899
Comp8ralive 8nalysis of net ass8ts between funds
UnrestriGted Funds
Design8t8d
General
Funds
Funds
Restricted Endowm8nt
Funds
Funds
Total
Funds
Fixed asset investments
Net Gurrent assets
Creditors due in more than
one year
103.327
119,297
103,327
233, 591
1,556
9,411
103,327
(12,840)
1,556 £ 209.783 £
(12,840)
9,411 £ 103,327 £ 324,078
22

THE FRIENDS OF THE CITY CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2024
17 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Funds
2023
Restricted
Funds
2023
Endowment
Funds
2023
Total
Funds
2023
INCOME AND ENDOWMENTS FROM:
Donations and legacles
Charitable activities
other trading activities
Investments
22,894
32,003
14,567
3, 130
72,594
23,195
46,089
32,003
14,567
6,686
99,345
3,556
3, 556
TOTAL
23,195
EXPENDITURE ON:
Raising funds
Fundraislng trading., Cost of goods
sold and other costs
Charitable activities
TOTAL EXPENDITURE
2,075
102,638
104 713
2,075
102,638
104,713
Net expendlture before galns and
losses on investments
(32,119)
3,556
23,195
(5,368)
Net loss8s on Inv8Stm8nts
3, 939
3.939
NET MOVEMENT IN FUNDS
(32,119)
3, 556
19,256
(9,307J
TOTAL FUNDS AT 31 MARCH 2022
242,901
5,209
85,275
333,385
Restatmenl in reserves
558
646
(1,204)
TOTAL FUNDS AT 31 MARCH 2023
£ 211,340
9,411 £ 103,327 £ 324,078
23