Charity number 1157705
THE FRIENDS OF ELY CATHEDRAL CIO
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

THE FRIENDS OF ELY CATHEDRAL CIO
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31DECEMBER 2025
TRUSTEES
Mr P L Back (resigned 20 September 2025 as Chair of Council, continued as a Trustee)
Mrs A L Bishop (appointed 20 September 20251
Miss A Boardman lappointed 20 September 20251
The Very Reverend M P J Bonney, Dean of Ely (Chairman, retired 31 July 20261
Mr S M Brooker (appointed 20 September 2025 as Chair of Council I
Mrs S Farmer (term ended 20 September 20251
Ms I l Fenton Iterm ended 20 September 20251
Mr J Green lappointed 20 September 2025, Assistant Treasurer from 14 October 20251
DrSEHall
Miss D Man IHonorary Treasurer)
Canon J S Reveley
Mrs C Stonehouse (appointed 20 September 20251
Mrs B Watkins Iresigned September 20251
Mrsj Watts
Canon J Wright lappointed 21 July 20261
FRIENDS, OFFICER.. Mrs S M Hunting (retired 30 November 20251
Mrs S Bolderson Ifrom 21 October 20251
PRINCIPAL BANKERS.. Lloyds Bank plc, Minster Place, Ely.
INDEPENDENT EXAMINER- Shaun Jordan, Price Bailey LLP, Tennyson House, Cambridge Business Park,
Cambridge, CB4 OWZ.
REGISTERED ADDRESS.. The Chapter Office, The College, Ely, Cambs, CB7 4DL.
CHARITY REGISTRATION NO.. 1157705

THE FRIENDS OF ELY CATHEDRAL CIO
TRUSTEES, REPORT
FOR THE YEAR ENDED 31DECEMBER 2025
The Trustees present their report and independently examined financial statements for the year ended 31
December 2025.
Objects of the Charity
The objects of the charity are to asslst the Dean and Chapter of Ely in the advancement of the religious,
pastoral, musical and educational work of the Cathedral including the preservation of its fabric and the
ornaments and furnishings thereof.
The charity pursues these objects by raising funds through membership subscriptions, donations and legacies,
and by applying those funds in grants to the Cathedral. It also seeks to sustain a body of members with an
active interest in the life and fabric of the Cathedral, supported by a programme of events, lectures and visits.
The charity does not itself identify projects for funding. It responds to requests received from the Dean and
Chapter, which are considered by Council at its quarterly meetings against the charity's objects, the availability
of funds and the merits of the propos31. Individual gifts above £50,000 additionally require the approval of the
members in general meeting. The Trustees consider that this arrangement, under which the Cathedral
determines its own priorities and the charity exercises independent judgement on whether to SUPPOrt them,
remains the most effective means of advancing the charity's objects.
The Trustees assess performance principally by the ability to meet grant requests made by the Cathedral in
support of its priorities. Complementary measures of success include maintaining membership levels,
delivering a programme of well-attended events, and receiving positive feedback from members and
attendee5. These indicators provide evidence of the charity's continued engagement with its supporters and
its effectiveness in furthering its charitable objectives.
The charity has l employee12024 - 11, but is otherwise dependent on the work of volunteers. In addition to
the Trustees, who serve without remuneration, volunteers support the charity in a variety of ways, including
assisting with the planning, preparation and delivery of events. Their contribution is not recognised in the
financial statements, but without it the charity could not deliver its activities or sustain its membership, and
the Trustees record their gratitude for it.
The Trustees have considered the Charity Commission's guidance on public benefit, and they considerthat the
charity is fulfilling its obligations in this respect by achieving the above objectives.
Governing Document
The Charity is regulated by its Constitution dated 29 April 2014.
Organisation
There can be a maximum of 14 Trustees (there are 11 at presentl comprising no more than 7 trustees
elected at the annual general meeting of the members, l ex officio trustee (the Dean of Elyl and 6 trustees
nominated by the Chapter of Ely Cathedral. Trustees shall hold office for three years but shall be eligible for
re-elertion or nomination for up to three consecutive occasions.
On 21 July 2026 the Council co-opted Canon J Wright as a trustee.
On 31 July 2026, The Very Reverend M P l Bonney retired from the post of the Deanship of Ely. From that
date the ex-officio trusteeship vacant position will remain vacant until a new Dean of Ely is appointed and
takes up office.

THE FRIENDS OF ELY CATHEDRAL CIO
TRUSTEES, REPORT
FOR THE YEAR ENDED 31DECEMBER 2025 Icontinued)
Organisation Icontinuedl
The day-to-day administration is handled by the Friends, Officer, Mrs S Hunting until her retirement and her
replacement, Mrs S Bolderson. The Friends, Officer is employed by the charity. However certain
responsibilities relating to this role are undertaken by the Cathedral on behalf of the Friends, in particular
payment of salary and provision of an office. The charity, as the employer, is responsible for setting the Friends,
Officer salary with the any increase being approved at a Council Meeting. Historically salaries have been
increased in line with the increases granted to the administration staff employed by the Cathedral. A
Memorandum of Understanding has been created to clarify what is the charity responsible for and what is
provided by Ely Cathedral on its behalf in respect of the Friends, Officer.
Gifts to Ely Cathedral up to a value of £50,000 are approved by the Trustees (Council) and those in excess of
£50,000 must be approved by the members at the Annual General Meeting.
Trustee induction and training
New Trustees are selected from the local community, only if they have relevant experience, skills and
enthusiasm to enable them to make a contribution to the administration of the charity. They are interviewed
and, if they are willing to be appointed, they are formally proposed and seconded for appointment either at
an Annual General Meeting or, if elected by the Dean and Chapter, by a meeting of that body. No formal
training is Eiven to new Trustees, but they are briefed thoroughly as to the charity's activities.
Charlty Governance Code
The seven principle5 that make up this code.. organisational purpose, leadership, integrity, decision making
risk and control, board effectiveness, diversity, openness and accountability, have all been considered by the
Trustees who are satisfied that the charity meets these principles.
Development. Activities and Achievements
The principal charitable activity of the Friends is to SUPPOrt the fabric, furnishings and collections of Ely
Cathedral. The Trustees approved gifts to Ely Cathedral during the period totalling £147,78012024- £35,075).
Gifts previously agreed and not taken up in full and now written back totalled £18,38112024- £1,430), making
a net charge in the financial statements of £129,39912024- £33,645). Substantially all of the grants approved
in the period related to three projects.. the final tranche of £80,000 towards the Cathedral lighting project,
£46,705 towards the Reredos project and £20,000 towards the Archive and Library project. The significant
increase over the prior year reflects the timing of the Cathedral's project programme and approval timeline of
previous grants rather than any change in the Trustees, grant-making policy. The Trustees regard the
completion of the Lighting project as the principal achievement of the year, delivering a lasting improvement
to the presentation of the building for worshippers and visitors alike.
The membership is the central pillar of the charity. Funds were raised through membership subscriptions,
donations and legacies, which enables to Charity to meet its charitable objectives in support of the Cathedral.
The Tru5tees' objective5 for the period were to retain membership levels and, through a continued programme
of events, to meet the interests and expectations of members. Membership at the year end remained
significant and a range of events were held during the year with positive feedback, including a summer get
together, silk spinning exhibition, a preview of the Cathedral Lighting and Friends Day in September along with
several talks.

THE FRIENDS OF ELY CATHEDRAL CIO
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025 Icontinued)
A key annual fund-raising activity undertaken by the charity is the sale of Christmas cards. Each year one or
two new designs are selected, always of the cathedral and created by a local artist. Cards are sold at charity
events, in the Cathedral gift shop, online and at the Cathedral Christmas Fair. In 2025 thi5 generated a surplus
of £7,04512024 £6,400). Other merchandise from the Friends includes bags, badges and blank cards.
Review of the Financial Posltion and Transactions
The finantial p051tion of the Charity is strong, and it is well able to meet the agreed gifts from funds which are
readily available. In 2025 the total income of the Friends was £941,21512024- £93,218), expenditure excluding
gifts was £42,919 12024 - £26,316). The value of the investments decreased by £5,870. As stated in the
previous paragraph gifts totalled £129,399 leaving a surplus for the year of £755,73012024 £33,664). The
principal reason for the increase in income in 2025 was the receipt of £853,948 in legacies12024 £14,547).
The Trustees note that legacy intome is by its nature unpredictable and the Trustees do not expect income at
this level to recur. In addition, future financial performance may be affected by the level of membership
income given continuing cost of living pressures, the value of grant requests received from the Cathedral and
investment market performance.
Reserves Pollcy
Normal recurring expenditure can be met by the expected income of the charity. Reserves are required to
enable the charity to assist Ely Cathedral with projects as and when required and the Trustees have agreed
that reserves should not be allowed to fall below £50,000. Total reserves held as at the year end were
£1,235,68212024.. £479,952) which were all unrestricted.
Fundraising
The Charity under5t3nds its duty to protect the public, including vulnerable people, from unreasonably
intrusive or persistent fundraising approaches, and undue pressure to donate but does not currently fundraise
from the public or use any internal fundraisers or external fundraising agencies for either telephone or fate to
face campaigns and received no fundraising complaints during the year.
Risk management
The Trustees have reviewed the principal risks and uncertainties to which the charity is exposed and are
satisfied that appropriate systems and procedures are in place to manage them. Given the charity's size and
the Straightforward nature of it5 activities, the Trustees consider a proportionate approach appropriate, with
risks reviewed by Council and revisited as circumstances change.
The principal risks identified, and the Trustees, response to each, are as follows.
Volatility of income The charity's income is dependent on membership subscriptions, donations and
legacies. Legacy income is inherently unpredictable in both timing and amount, and the level of income
received in the current period is not expected to recur. Membership income may be affected by continuing
COSt of living pressures. The Trustees manage this risk by maintaining reserves sufficient to meet
commitments, by avoiding grant commitments that depend on income not yet received, and by monitoring
membership levels at each Council meeting.

THE FRIENDS OF ELY CATHEDRAL CIO
TRUSTEES, REPORT
FOR THE YEAR ENDED 31DECEMBER 2025 Icontinued)
Risk management {continued)
Decline in membership. A sustained fall in membership would reduce recurring income and weaken the
body of support on which the charity depends. The Trustees seek to mitigate this through the events
programme, regular communication with members, and efforts to recruit new members from among the
Cathedral's congregation and visitors.
Dependence on volunteers. The charity has l employee and relies on volunteers for additional support,
including for the organisation of events and the administration of membership records. The loss of key
individuals would disrupt activities. The Trustees seek to spread responsibilities across a number of
volunteers.
Investment risk. The value of the charity's investments is subject to movements in financial markets, and a
fall in capital value reduces the funds available for grant-making. The Trustees manage this by holding a
balanced fund with a low to medium risk mandate, by holding short-term requirements in cash, and by
taking a long-term view of returns.
Reputation and safeguarding. The charity's standing is closely linked to that of the Cathedral, and its events
bring volunteers and members into contact with the public. The Trustees follow the Cathedral's safegLJarding
policies at events held on its premises and expect volunteers to do likewise.
Data protection. The charity holds personal data relating to its members. Access is restricted to those who
require it and data is held in accordance with data protection legislation.
Investment Pollcy
Apart from the Legacy Fund Isee below), the trustees do not envisage holding funds for the long term. As
referred to above, it is intended that reserves will not fall below £50,000 and this is covered by cash deposits
and an investment in M&G Charifund income units which cost £15,245 several years ago and at 31 December
2025 had a value of £44,06912024.' £37,561). In addition, the charity is invested in the CBF Church of England
Investment Fund with dividends received held in a deposit account pending expenditure or re-investment.
The investments have a balanced investment objective with low or medium risk and on 31 December 2025
had a value of £297,258, down 1.699A from £309,636 in 2024. Against an objective of preserving the real value
of funds, a positive year for market returns IIIYO gain on the CBF comparative benchmark) and RPI increasing
by 4.2% in 2025. the Trustees do not consider this objective to have been met in the year and will continue to
monitor the performance of the funds closely.
The majority of assets are held in a deposit account in the CBF Church of England Investment Fund so the
charity is not at risk from stock market fluctuations, as grants are only made from available funds
With regard to the Legacy Fund (previously called the Designated Fund) the Trustees have agreed that future
legacies received from l January 2025 should be paid into this fund to readily identify funds available for
grants. Total legacies of £721,643 were paid into this account during 2025 and a further £132,305 has been
accrued. The balance on the Legacy Fund was £848,750 on 31 December 202512024.. £70,357).

THE FRIENDS OF ELY CATHEDRAL CIO
TRUSTEES, REPORT
FOR THE YEAR ENDED 31DECEMBER 2025 Icontinued)
Plans for future periods
The charity will continue to consider requests from the Dean and Chapter of Ely for funding of projects which
support the religious, pastoral, musical and educational work of the Cathedral including the preservation of
its fabric and the ornaments and furnishings thereof. The receipt of substantial legacies during the year will
enable the charity to support more significant projects in the future, when such a project is identified by the
Dean and Chapter.
On Behalf of the Trustees
Mr Stephen Brooker (Chair of Council)
Date..
2410812026

Inde
endent Examiner's Re
ort to the Trustees of The Friends of El Cathedral CIO
I report to the charity trustees on my ex3mination of the accounts of the charity for the year ended 31
December 2025 which are set out on pages 8 to 17.
Your attention is to drawn to the fact that the charity has prepared the financial statements in accordance
with the relevant version of the 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 IFRS
1021 in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued
on l April 2005 which is referred to in the extant regulations but has been withdrawn.
We understand that this has been done in order for the financial statements to provide a true and fair view in
accordance with UK Generally Accepted Accounting Practice.
Re5
onsibilities and basis of re
ort
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the charit￿5 accounts carried out under section 145 of the Act and in
carrying out my examination I have followed all the applicable Directions given by the Charity Commission
under section 14515llbl of the Act.
Inde
endent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of
the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies. I have completed
my examination. I confirm that no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect-
l. Accounting records were not kept in respect of the charity as required by section 130 of the Act,. or
2. the accounts do not accord with those records; or
3. The accounts do not comply with the applicable requirements concerning the form and content of accounts
set out in the Chartties (Accounts and Reportsl Regulations 2008 otherthan any requirement that the
accounts give a'true and fair Vie￿ which is not a matter considered 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 the accounts to be
reached.
Signed..
Shaun jordan ACA
Price Bailey LLP
Tennyson House
Cambridge Business Park
Cambridge
CB4 OWZ
Date- 24 August 2026

THE FRIENDS OF ELY CATHEDRAL CIO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
2025
Unrestricted
Funds
2024
Unrestricted
Funds
Note
Income
Subscriptions, donations and legacies
Fund Raising
Investments
Total Income
892,725
17,716
30,774
941,215
50,349
16,747
26,122
93,218
Expenditure
Raising Funds
Charitable Activities
Total expenditure
7,297
172,318
179,615
7,475
59,961
67,436
(Decrease) / Increase in value of investments
Net expenditure for the year being net
movement in funds
15,8701
7,882
755.730
33.664
Reconciliation of funds:
Total funds brought forward
479,952
446,288
Total funds carried forward
1,235,682
479,952
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
The notes on pages 11 to 17 form part of these accounts

THE FRIENDS OF ELY CATHEDRAL CIO
BALANCE SHE￿AT 31 DECEMBER
Note
2025
2024
Fixed Asset
Investment
341,327
347,197
Current Assets
Debtors
Stock of Merchandise for resale
Bank account & cash
Deposit Accounts
153,796
4,348
84,524
803,134
1,045,802
8,116
2,626
36,686
219,068
266,496
15
15
Current Llabllltles
Creditors (amounts falling within
one yearl
Net Current Assets
151,447
133,741
894,355
132,755
Total Net Assets
1,235,682
479,952
Funds
Unrestricted funds
io
1.235.682
479,952
The financial statements on pages 8 to 17 were approved by the Council by circulation and signed on its
behalf by..
Stephen Brooker (Chalr of Councll)
2026-Aug-24 15'.36
Deborah Man (Honorary Treasurer)
2026-Aug-24 11'.33
The notes on pages 11 to 17 form part of these accounts

THE FRIENDS OF ELY CATHEDRAL CIO
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
2025
2024
Note
Cash flows from operating artSvitSes:
Net cash provided byllused inl operating activities
14
601,130
{220,520)
Cash flows from Investlng activlties:
Dividends, interest and rents from investments
30,774
26,122
Net cash provided byllused in) investing artivities
30,774
26,122
Change in cash and cash equivalents in the
reporting period
631,904
{194,398)
Cash and cash equivalent5 at the beginning of the
reporting period
15
255,754
450,152
Cash and cash equivalents at the end of the
reporting period
887,658
255,754
10

THE FRIENDS OF ELY CATHEDRAL CIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31DECEMBER 2025
I. ACCOUNTING POUCIES
General information
The Friends of Ely Cathedral CIO is an unincorporated charity, registered in the United Kingdom. The registered
office 15 The Chapter Office. The College, Ely. Cambs, CB7 4DL.
Baslsof Accountlng
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared
in accordance with the relevant version of the 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 IFRS
1021 and the Financial Reporting Standard applicable in the United Kingdom and Republie of Ireland IFRS 1021 and
the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities
IAccounts and Reportsl Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure
ha5 involved following the relevant version of the Statement of Recommended Practice applicable to charities
preparirig their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice
effective from l April 2005 which has since been withdrawn.
The financial statements are underthe historical cost convention, modified to include investments at fair value. The
financial statements are prepared in Sterling which 15 the functional currency of the charity and are rounded to the
nearest £. The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.
Golng con￿rn
The Trustees consider that there are no material uncertainties about the Charity's ability to continue a5 a going
concern. The main form of financial risk faced by the charity 15 that of volatility in equity rnarket5 and investment
markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment
concerning equities and within particular sectors or sub sectors. The most significant areas of adjustment and kev
assumptions that èffect items in the accounts are to d() with the gains and losses on revaluètion of these investments
each year. This 15 covered in m()re detail in the performance and risk sections of the Trustees, annual report for
more information.
As such the financial statement5 have been prepared on a going concern basis as the Tru5tee5 are confident that the
charity has sufficient funds to enable operations to continue fora period of at least 12 months from the date of approval
of these financial statements.
Income
All income is included in the Statement of Financial Activitie5 ISOFAI when the charity is legally entitled to the income
after any performance conditions have been met, the amount can be measured reliably, and it is probable that the
income will be received. For legacies, entitlement is taken on a case by case basis as the earlier of the date on which
the charity is aware that probate has been granted, the estate has been finalised and notification has been made bv
the executorlsl to the chèrity that a distribution will be made, or when a distribution is received from the estète.
Receipt of a legacy, in whole or in part. is only considered probable when the amount ean be measured reliably and
the charity has been notified of the executorfs intention to make a distribution. If the legacy is in the form of an
asset other than cash or an asset listed on a recognised stock exchange, recognition is subject to the value of the
asset being able to be reliably measured and title to the asset has passed to the charity. Where legacies have been
notified or the charity is aware of the granting of probate, and the criteria for income recognition have not been
met. then the legacy 15 a treated a5 a contingent asset and di5c105ed if rnateri31.

THE FRIENDS OF ELY CATHEDRAL CIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31DECEMBER 2025
ACCOUNTING POUCIES Icontinuedl
Expendlture
All expenditure is accounted for on an accruals basis and has been classified under heading5 that aggregate all costs
related to the category. Expenditure is recognised where there is a legal or constructive obligation to make
payments to third parties. it is probable that the settlement will be required and the amount of the obligation can
be measured reliably.
Expenditure is categorised under the following headings..
Costs of raising funds includes support costs for the management of the investment portfolio. fund- raising
and event organisation.
Expenditure on charitable activitie5 includes grants made, governance costs and an zpportionment of
5UPPOrt costs.
Support costs are those functions that assist the work of the Charity but do not directly undertake charitable
activities. Support costs include back office costs, salaries, and governance costs which support the Charity's
activities. These costs have been allocated to expenditure on charitable activities based on cost.
Governance costs are included in support costs and relate to the direct running of the Charity, allowing it to operate
and generate the information required for public accountability. They include the costs of the independent
examination.
Grants, payable to third parties 3Te within the charitable objectives. Where unconditional grants are offered, this 15
8ccrued as 500n as the recipient is notified of the grant, a5 this gives rise to a reasonable expectation that the
recipient will receive the grants. Where grants are conditional relating to performance, the grant is only accrued
when any unfulfilled conditions are outside the control of the charitv.
Investment Fixed Assets
Investments are a form of basic financial instrurnent and are initially recogni5ed at their transaction value and
subsequently measured at their bid value as at the balance sheet date using the closing quoted market price. The
statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout
the year. The Charity does not acquire put options, derivatives or other complex financial instruments. The main
form of financial risk faced by the charity is that of volatility in equity markets and investment market5 due to wider
economic conditions, the attitude of investors to investment risk, and changes in Sentiment concerning equities and
within particular sectors or sub sectors.
Investment income. gains and losses are allocated to the appropriate fund.
Funds
Restricted Funds are fund5 which have been given for particular purpose5 or project5.
Unrestricted funds are funds given for no particular purpose or projects, to be spent as Trustees decide.
Stocks
Stock consist5 of purchased good5 for resale. Stock 15 valued at the lower of c05t and net realisable value. C05t is
based on the cost of PLJrchase on a first in, first out basis.
Cash at bank and in hand
Cash at bank includes cash held in current and deposit accounts.
12

THE FRIENDS OF ELY CATHEDRAL CIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31DECEMBER 2025
ACCOUNTING POLICIES Icontinuedl
Debtors
Other debtors are recognised at the settlement amount due.
Creditors
Creditors are recogni5ed where the charity has a present obligation resulting from a past event that will probably
result in a payment to a third party and the amount due to settle the obligation can be measured or estimated
reliably. Creditors are normally recognised at their settlement amount.
Finantial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic
financial instruments are initially recognised at cost and subsequently measured at their settlement value. At the
balance sheet date, fixed asset investments are recorded at market value and all other assets and liabilities are
recorded at cost (which is their fair value). The investment note 6 details the original cost of the investments and
their fair value Imarket valuel recorded in the accounts.
Estimate5 and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors,
including expectatitsns of future events that are believed to be reasonèble underthe circumstances. Although these
estimates are based on the trustees. best knowledge of the amount, events or actions, actual results ultimatelv
differ from these e5timate5. The trustees do not consider there to be any material estimates 8nd judgements.
Income from subscriptions, donations and legacies
Subscriptions including gift aid claims
Donations
Legacies
Total
2025
36,796
1,981
853,948
892,725
2024
33,721
2,081
14,547
50,349
All relate to unrestricted funds in both years.
Income from Fund Raising Activities
2025
2024
Income
Expenses
Net
2,112
327
7,045
935
10.419
Income
Expenses
Net
2,027
21
6,400
824
9.272
Friends, social events
Friend's Day
Christmas cards
Other Merchandise
Total
3,278
1,738
11,170
1,530
17.716
1,166
1,411
4,125
595
7.297
3,361
1,818
10,229
1,339
16.747
1,334
1,797
3,829
515
7.475
All relate to unrestrirted funds in both years.
Income from Investments
Investment fund dividends
Interest- deposits
Total
2025
11,014
19,760
30,774
2024
10,699
15,423
26,122
All relate to unrestricted funds in both years.
13

THE FRIENDS OF ELY CATHEDRAL CIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31DECEMBER 2025
Charitable Activities
Gifts to Ely Cathedral- Dirert Costs
Balance of gift5 previously agreed and not taken up in full..
Unrestricted Funds.. Bishop's West and Alcock chapel
restoration
Unrestricted Funds.. Music Commission for 1350
Celebration
2025
2024
118,3811
11,4301
New gifts..
Unrestricted Funds..
Choristers, prizes
Grant To Broders Group
Archive and Library Project
Reredos Project
Live Streaming Project
Subtotal
75
1,000
20,000
46,705
75
35,000
33,645
49,399
Designated Fund
New lighting installation
80,000
Total Gifts to Ely Cathedral
129,399
33.645
Support costs
Printing, stationery, postage & telephone
Salaries
National insurance
Pension contributions
Sundry expenses
Independent examination fees- governance costs
Equipment
Subtotal
2,195
25,186
2,827
1,322
5,281
3,000
3,108
42,919
2,185
19,919
1,494
1,295
199
1,224
26,316
Total
172.318
59.961
All relate to unrestricted funds in both years.
The average number of employees Ipart-timel during the period was 112024- 11.
No employee received emoluments of more than £60,000 during the year12024- None).
The total employee benefits of the key management personnel were £29,33512024 - £22,708). Onlv
one individual is employed by the charity but as detailed below, there was an overlap between the
new Friend5 Officer starting and the retirement of the existing officer.
The key management personnel were.. Mrs S M Hunting (Friends, Officer, retired 30 November 20251
and Mrs S Bolderson IFriends Officer, from 21 October 20251, Mr P L Back (Chair of Council, term
ended 20 September 20251 and Mr S Brooker Ichair of Council from 20 September 20251 and Miss D
Man (Honorary Treasurer) and Mr l Green IAssistant Treasurer from 14 October 20251-
14

THE FRIENDS OF ELY CATHEDRAL CIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31DECEMBER 2025
Cost
2025
242,597
Open marketvalue
2025
2024
347.197
339,315
15,8701
7,882
341.327
347.197
Investments
At beginning of year
IDecreasel/lncrease in value in year
As at 31 December 2025
2024
242,597
242.597
242.597
Comprising
2,551 M&G Charifund income units
13,391.01 CBF Church of England
investment fund income shares
As at 31 December 2025
38,614
38,614
44,069
37,561
203,983
242.597
203,983
242.597
297,258
341.327
309,636
347.197
Debtors
Income tax recoverable
Accrued Income
Legacies
Total debtors
2025
5,706
8,211
139,879
153,796
2024
5,171
2,945
8,116
Creditors
Ely Cathedral- re-imbursement of expenses
Ely Cathedral- gifts
Other Creditors
Independent Examination
Deferred Income
Total Creditors
2025
12,439
129,934
7,574
1,500
2024
14,219
119,272
250
133,741
151,447
Included within Other Creditors is £7,57412024 - Nil) which relates to a legacy receipt that was
incorrectly paid to the Friends instead of the named charity in the deceased's will. The Trustees are
in contact with the executors of the relevant estate to resolve the issue.
Commitments approved since December 2025
Exhibitions System Grant
90th Anniversary Gift
Write back remaining balance on grant for Muslc
Commission for 1350 Celebration
Broders
Archive and Library Project
Total Commitments Made
2025
22,000
4,595
2024
11,4301
1,000
20,000
19,570
26,595
Whilst no specif1c gift has yet been approved the Trustees, at the January 2026 Council meeting it was
agreed that the charity will provide underwriting of up to £400,000 for the refurbishment of the Cathedral's
organ.
15

THE FRIENDS OF ELY CATHEDRAL CIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31DECEMBER 2025
io.
Fund Reconciliation
Asat
31.12.2024
Investment
Gains/{Lossesl
Asat
31.12.2025
Current Year
Unrestricted Funds
General fund
Legacy Fund
Total Funds
Income Expendlture
409,595
70,357
479,952
70,443
870,772
941,215
199,6151
180,0001
{179,6151
6,509
112,3791
(5,8701
386,932
848,750
1,235,682
Asat
31.12.2023
Investment
Gains/{Lossesl
Asat
31.12.2024
Prior Year
Unrestricted Funds
General fund
Legacy Fund
Total Funds
Income Expenditure
405,810
40,478
446.288
70,268
22,950
93.218
167,4361
953
6,929
7.882
409,595
70,357
479.952
167.4361
The Legacy Fund (previously the Designated fund) arose from substantial legacies which were set
aside to provide funds for major projects. They have been used to fund the lighting project at the Elv
Cathedral which should be completed during 2025. Council agreed that all legacies received from
l January 2025 should be paid into the Legacy Fund.
ii.
Analysis of Fund Assets and Liabilitie5
Unrestricted
Funds
Legacv
Fund
Total
Funds
2025
Investments
Bank current account & cash
Deposit accounts
Other current assets
Current liabilities
Total Fund5
44,069
65,403
367,081
13,921
1103,5421
386,932
297,258
19,121
436,053
144,223
147,9051
848,750
341,327
84,524
803,134
158,144
1151,4471
1,235,682
2024
Investments
Bank current account & cash
Deposit accounts
Other current assets
Current liabilities
Total Funds
37,561
24,437
408,880
10,742
172,0251
409.595
309,636
12,249
1189,8121
347,197
36,686
219.068
10,742
1133,7411
479.952
161,7161
70.357
12.
Trustees, Remuneration
During the period, no Trustee received nor waived any remuneration12024- nill. Expenses
reimbursed to the Trustees in the year were Nil12024- Nill.
16

THE FRIENDS OF ELY CATHEDRAL CIO
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31DECEMBER 2025
13.
Related Partles
During the year the charity committed to gifts to Ely Cathedral totalling £129,39912024 £33,6451-
Amounts outstanding at the end of the year were £142,37312024 - £133,491).
There were no further related party transactions.
The Very Reverend M J P Bonney served as Dean of Ely Cathedral throughout the period and until 31
July 2026 when he retired. Canon J S Reveley and Canon J Wright are both Residentiary Canons.
14. Reconciliation of net incomellexpenditure) to net cash flow from operating activities
2025
755,730
2024
33,644
Net income for the reporting period
Adjustments for:
IGainsl/losses on investments
Dividends, interest and rents from investments
Ilncreasel/decrease in stocks
Ilncreasel/decrease in debtors
Increase/ldecreasel in creditors
Net cash provided byl(used in) operating artivities
5,870
130,7741
11,7221
1145,6801
17,706
17,8821
126,1221
174
246
1220,6001
(220,520)
601,130
15. Analysis of changes in net debt
As at 31.12.2024
Cash flows
A5 at 31.12.2025
Bank account & cash
36,686
219,068
255,754
47,838
584,066
631,904
84,524
803,134
887,658
Deposit accounts
Net cash
Debt
Total
255.754
631.904
887.658
17