Chichestei. Cathedra] Friends REGI.4TERED CHARITY NUMBER: 11584Y8 Report of the 'l-rustees Financial Statements for the Year Ended 31st March 2024 for ChRchest¢r Cathedral Friends
Chichester Catliedral Frieiids Contents of tlie Financial Stdtements for Ihe Yeai- fT iided 31 si March 2024 Report of the Trustees Ito4 Independent F.xJiiiiiier'% Report StdtLmLnt ol Financtal ActivitiL5 Balanee Sbeet Nutes lo the FinanLi<il StdleinentS 8 tv 13 Detailed Statement of Finaiicial Activities 14
Chichester Cathedral Friends Report of the Trustees for the Year Ended 31st March 2024 The trubtees PTesertt their report with the financ7al staleTnents of the LhaTity for the year ended 31 st March 2024. Tli¥ Financial Statcmcnts Iiavc bcLn prcparcd in accordance with the accountiiig policic.% scl out in natc l and comply ivith thc charity'.q &Fnveniing cnii.%titutioii. tlic Charitics Act ?01 l and with tlic Financial Reporting Standard applicablc in tbL' UK and RLpublic of Ircland (FRS 102) (LffLCtIVL l Janiiary 2019). The trustees confinn that they have had regard to the Charity Commission's guidance on piiblic benefit. The tnislee% haN'e coii%idei'ed the objects of IliL c.harity aiid are %atisfied thaE they fultil the requirements of publi¢ benefit, to advance religion by assisting in the support of tlie Dean & Chapier of Q'liicliester Calliedral and contributiiig both financially wid in otlier appropiiate ivays to the preservatioii, niaiiitenance. ctthaiiceineiit and ministry of Chichcstcr Catliedral. OBJECTIVES .4ND ACTIVITIES Objeitives and dlTIIS The objccts of the CIC) arc Lo advance rcligioi) by a$8i8lino in Ilie %upport of ihc Cailiedral and conLribuliiig bi)tli tina11cial ly and in oihcr appropriatc way.% to its prcscrvatinn, maiiitci)anec, cnhanccmcnt aiid miiiisiyy and in t"urtheraiicc thcrcot but iiot otheriiiisc to: encouragye and niirtw-e public interest in the Cathedral in the local community. the diocese and tlie Iiwider world. asblst and sUPPOit the Deali <llid the Ck)tliedral Chapter in niaintaiiiing and iinprovirjg tlie facilities. aiid services. and to develop and promote the L athedi-al's mission. Grantfflaking ThL tl-uslLL hÉiVL dPPlUVL.d thc fullowing, grant rLqUCSts from DLan & Chaptcr in thc ycai. to 31 st Mai-Lh 2024: 'riinmas Wcclkcs, Antllvcr.arY Concert Pait FiindingJ of EdLILdtioniil Rolus (£20,000 p.d. x 3 yLJrs) Addilional expeiidilure re Cassock% & Cloaks L2,210 £20.000 £225 ACHIEVEMENT AND PERFORIIANCE Events During the past year the eveiits prOaLne has seen attendance levels returiiing to and often exceediiig Ibose of pre-covid tiincs. Oui. moiithly Coff¢¢ Momings hdiie Lontinued to KlttiaLt Fri¢nds ¢tnd Lllthedral visitois alike. Ivith a rough ¢£ilculdlion suggestiiig tl)at between 600 and 7UU people liai'¢ attended. Our Bonk. afiel- Bi-eak-/ci.gl cvciiis are noiv well e.stabli.5hcd. The InieFini Dean Simoii I lolland lcd a tliought-i)roi'okiiig dibCUSSI()n of RiLhard HollDwdy'S book Tlic H¢'¢ii-I vl Thiiixts l<lSt Mdy. at thL' st<lrt ul"-his tLnurL Wlth us. Titn Morris, HL<id Vergyer, alli-acled L2 gFood audience M'"ith God .5 SFllEis'g'lEr, a book M,liicli liu8 inspii-ed Tim owei- tlie yedrs. Sinicjn I lolland chaircd our 'lii Coiii'er.¥alioii cvcnt, a nioviiig di.qcu.88ion pancl iviili arli%t Katc Vincr ai)d .qoinc nt- thc sillers foi. the inspiringy Re.Filienc.'e ¢11 ClaTr exhibilion of sculpted heads. w,hicli ivas held in Ihe cathedral in Lonjunllion with Saiicluai'p, iii Cliiehe.Ylvi- la%t ,guminer. In Septeinber we h¢ld a Loncert of organ in17sIL in the Cathedral Qiiire. perfonned by Charles HTiSOn, Organist and Ma,8teT of The Clioi'i¥teTS, underneath the atino¥pheric Peace-Doi'es exhibition. The organ prograirniie eoiisi,sted of Inany works chose11 by menibers of the audience of aln)ost 90 Fi'iends. ThL' yL'(Ir driiv to d 1105Q With OLII. AdvLnt ConcL'rt fLdturing niLlSIL Stiidcnls of ThL Ottir Cuns011 froin IhL Univ¥l'SLty uf Chiche.%Ler. We w(cre deligFhied lo have a capiicily audience lur ihis ewenl ii) tlie V"icai's Hiill. The bludents led 501ne well- known carols, as wcll as piccc8 fr()In thcir own repcrtoirc and.oni¢ solos. Our Epiphany Lunch ti)ok place in January allended by 60 bjuesls u'ho heard a most interesting, talk by Kathy Boiii-ne. F.xccutivc Dii'ccloi. of CliiLhcs(cr Fesiival Thcairc ii,ho 81)okc aboui (hc ihcalrc'.8 hi41ory, h¢r carccr aiid plans willi ihc lic, Artistic DircctOT Justin Audibcrt. Page I
Chichester Cathedral Friends Report of the Trustees tor the Year Ended .11 st March 21124 r4lNANCIAL REVIEW Investment poliey and objeet'iTr'cs The Ii'u4lees licive considered duri1lgF ihe course of Ihe year il8 policy lowai'd% ihe inN'e%tniei)t ofsurplus fuiid.s in ordcr io maximi/.c a rcluni on i1i08c fuiids. The uiistLLS l-LcognisL" that any invcsttnent hcld should be Lapable of bL"ing i-Ladily converted to cash should the Dean & ChapteT Ot" Chichester Cathedral i-equest a level of gFrant fiinding above nornial cash i'eserves. Also the ts-LlStees attitude to ri.%k is assessed ¢lS beiiig low. In line Iwith tlie above policy £450,000 was knitially invested ivitb M & G Investnients in their Q'harifund. At 31 st March 20?4 the niarkct valuc ot" this invcstmcnt was £l13,7 I8 (2023.. L319.554). Tlic investinent Iicld with M & G will b¥ Lloscly monitorLd and kLpt LindLr Ikvicw by thL trustiLs in urdcT to m(IXii)IiZL in¢omL and preseiTre UciPIt(Il invested. Reserves poIiL'V Tlic tru%tecs have cxamincd thc requircmcnt for rcscrvcs in thc light of the main risk% to thc Orall1$all0n. Thc trustccs ci)iisidcr that Ilic 1ii08t appropriatc Icvcl ot- rc%crvcs at 31 gt March ?n24 8hould Cqliatc to six Inonths adniinistration and publioity costs. BdsLd on tlie expL'nditiire during tlie yLar endLd 31 MarLlI ?024 this aiiiounts to approx.£4,500. Reserv¢5 as at tlie balance sheet date w-e substantially in excess of this tigure. During the year total inconie amounted to £48,356 (2023.. £52,7J6). expenditure amounted to £30,863 (2023.. £75 0601 aiid uiirealised losses oil iiivestinents amouiited to (£$ 837) 12023.. loss of £23. &041, resulting iii a surplus of £11.656 {2023'. deficit (L45:4?7). At 31 M(Irch 2014 total tunds w'gi-e £341.269 (20•3= £329.614) ot" whiLh £1 $9.610 (2023.. £181,298) il'as reslricted. Delails of ihe reslricted fund can be lound on pagTes I l & 12 ol'ihebe linancial sliileinenis. 14'11'l'[IRL PLANS Tlie Trustccs arc gratctul for tlic c(Inlinucd %upport of Ilic nicmbcrs tlirough payment ot Ihcir 8ul)scripti(Iiis a they tall duc and the%L will illdhlc Thc Charity to contiiiuc ti) fulfil its finailLial obligdtion.s. Tlic Triistee% arc omniittL-d to continiiing their suppurt of thL work and tnission of the ChaptL'r of ChiLh¢stci Cathedral. STRUCTiIRE, GOVERNANCE AND IWIANAGEMENT Goi'erning docuinent Clitcliester Catliedral Friends is a Cliaritable Incorporated Organisation (CIO). The first ineeting of tlie trustees uf ChiLhcstcr Catliedral Fricnds was held on Frid£iy •4th OLtobcr 2014. ChiLhcstCT Cdthcdral Frithids is govL'I'nLd by (i Lvnstitulion th£it Wils i-LgislLrLd with thc Ch¢lrity Cuinmission on 9th S¢ptL'inbur 2014 ¢ind IhL Ch(Illtv Rebyisii-ation Nuinber is 1158498. Thc charily look over ihc charilablc acliviliLS of Fricnds of c'liichcslcr Caihcdral (rcgislcrcd charity IlLimbcr ?118649) with cffcct from l Novenibcr ?014. Tliis cliarity will rcmain reg7islcrcd but doimant in thc fLtlurc. Duc to coinmon TrLlStccs Trricnds at" Chichestcr Cathcdral 18 coiisidcred a rclalcd party. Organlsational strueture c.hichester Cathedral Friends is run and iiianaged by a board of trustees. The nLiinber. Inethod of Ippointiiient and period ot- offL¢e of tteeS is defined in the constihilion. The con.%tilution pi-oi'ides for the tivstees lo elect a chaii'ii)an from arnongsl themselves. Thc tiustccs liavc dcfincd tlic followiiig Honorary Officcr rolcs: chaimati, vicc-chaim]an. secretary, trcasurcr dnd InLinbcTship SLCILtdTy, appointmLnts tu thLSL rvlLs drc rLVILWLd annurilly by ihc Trust¢cts. WL hLld four TTuslees IneeiinLFs diiiingy the yeai-. Pai¥e 2
Chichester Cathedral Friends Report ol. the Trnstees for the Year Ended 31st March 2024 STRUCTURE, GOVERNANCE AND MANAGENIENT IL'mbLr5hip Thc tru%tecs wcre sadd¢iicd to Icarn of thc dcatli8 of 22 mcmbcrs durÉng thc pa8t ycar. We havc wclcomcd 61 new inembers. which is a stndll inLreabe on the pievious yeai.. Losses al'e problematiL, but ai-oiind l 00. The total number of meinbers at 31° mh 2024 %tands at 882. Risk management DuringJ the Loiirse ot the year th¢ trusteeb Lontinu¢d to inonitor any potential iisks to the Charity. in line MTltI) th¢ Icrms aiid procedui-es of lh¢ Risk As5essmciit r¢gistei- aiid lo tske any acLioii wliich they felt appi-opi'iate to mitigate any such ri.%ks. The ove1711 conclusion of ihe comiiiiltee I'eindil).% IhaL ihe C.harily has dppropi'iale syslein4 in place to iiii ligyale Ihosc risks identified aiid any coii%equciii losses 11)clt mighi arisc. Thc Risk Regisicr will coiiLiiiuc io bc rcvicwed ()n ai) aniiual basi% and aincndcd as required. Annual Gener*1 Meeting 2023 The 2023 ACJM was held in Ihc C,athedrxl iiave on Thursday, 8 Jiiiie 20?3. Ninety-one meiiiber,% alleiidcd the ACJM. The guest speaL"er for tlie aftenioon was Rear Admiral John LÉppiett RN, Cliief Executive of the Mary Rose Trust and Deputy Lieut¢nant of West Sussex. REFF.RENCF. AIYD ADMINISTRATIVE DETAII.S Rexistered Charity number 11.584911 Prtncipal address Tlic Holi Scci'clary Tlie Rnyal Chanlry Catliedral Cloisters Cliicliester West Siissex P019 IPX Elected Trustees #t 31" March 2024 Ms K R¢ad.. scLrCtkY Ms M Gibson MT B Ddvid Mr J SiLbLYt: ChdiiTnan Mr A Kean.. Ti-e(Isurei- Mr G Toole-MaLkson JP.. ViLe Chairman Mg P Siill ii'an Mr P Joncs Trustee5 Ivho Resigned in the period April 2023 to March 2024 Howard Castlc..Smith Malcolm Gill Page 3
Chichester Cathedral Friends Report of the Trustses for the Year Ended 31st March 2024 Independent Examiner D Setchell FCCA (Retd.) 21 St Bartholomew's Close Chichester West Sussex POI 9 3EP Honorary Offieers K Read - Secr¢tary A Kean - Treasurer J Gardner- Membership Secretary Approved by order of the board of trnstees on April 2024 and signed on its behalf by: J Sieb Trustee Page 4
Chichester Cathedral Friends Independent examiner's report to the trustees of Chichester Cathedral Frlends report to the charity trustees on my examination of the accounts of Chichester Cathedral Friends (the Tt) for the y¢ar ended 31 st March 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20 L l ('the Act,). I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of th¢ Act. Independent examiner's statement 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: accounting records were not kept in respect of the Trust as required by section 130 of the Act. or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the forni and content or accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view 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 tr> which attention should be drawn in ihis report in order to enable a proper understanding of the accounts to be reached. Signed.. D Setchell FCCA (Retd.) 21 St Bartholomew's Close Chichestr West Sussex P019 3EP Xi xo24
Chichester Cathedral Friends Statement of Flnancial A¢tli'thties for tlie Year Ended 31st March 2024 ?024 'rotdl 2023 Unresh"ivted rund R¢striLted riind Funds INCONIE ATr*D E,NDOWMELITS FROM Doiiatioiis and legacies 24,840 29,839 Otlier trading actLVlties Investment income 4,965 8,027 4.965 IX,551 3,447 19,450 10,524 Total 37.832 10.524 48.356 52,736 EXPENDITURE ON Charitable actiNities Charit(IblL' dLtivitlL'S Suppoit costs. 29,123 2.844 (1,103) 28,0?0 73.25CI 1,804 Total 31,967 (1,103) 30,%64 75,060 Net gain/{ loss) oil investments (2.522) (3.3151 15,837) (?3.103} NET INCOMEI(E.IPENDITURE) 3.343 8,312 11.655 (45.427) RECO.NCILIATION OF FUNDS 'I"otal funds brought fornvard 148.316 181,298 329,614 375,041 TOT AL 14 UND8 CARRIED FoR'ARD 151,659 189,61 341.269 129,614 Thc iiolc.s fonn part of thc8L fiiiaiicial statcmeiits Page 6
Chichester Cathedral Friends Balance Sheet 315t March 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted fund Notes FIXED ASSETS Investments 124,108 189,610 313,718 319,554 CURRENT ASSETS Debtors Cash at bank and in hand io 1,512 1,512 1,772 48,732 48,732 39,327 CREDITORS Amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURREI¥4T LIABILITIES 151,659 189,610 341,269 329,614 NET ASSETS 151659 189610 341269 329 614 FUNDS UnTestricted funds Restricted funds 12 151,659 189 610 148,316 181298 TOTAL FUNDS 341269 329 614 The financial stafrments were approved by the Board of Trustees and authorised for issue on 16 April 2024 and were signed on its behalf by J Siebert - Trustee The notes forni part of these financial statements Page 7
Chichester Cathedral Friends Notes to the Financial Statements or thL Year Ended 31st VL larch 2024 ACCOUN'I"IING POLICILS Basis of preparing the financial statements Thc financial stalciiients Of thL charity, wliich is a PLEblic bellcfit eiitity under FRS 102, have bcen prcparcd in aecnrdance with tlie Charities SORP (FRS 10?) 'Accnunting and Reporting by Charities-. Stalciiient Of Recomn]ended Practice appliLable to charities prepai'ing their accoiints in aLcordance with the FinanLial Repi)rting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (eftective l January 2019). Finaii¢ial RLPO)'ting Standard 102 'The Finaiicial Reporting Staiidard applicable in ihe UK aiid Republic of Ireland, aiid thL C.Iiarities Act )01 l. The fInl¢la[ staiemeiit8 bave been prepared under the liistorical cost Lonvlnlion, with thL eX¢¢Ption of inv¢5hnL'nts which ar¢ included dt indrkL'I valiic, db modified bs the rev<iluation ot Lertain ussetS. inancial reporting standard 102 - rediiced disclosure exemptions Thc chdl'sty hds t(Ikcn adv(int(i¥iL of thc followin¥ ditsclvsiirL IXLnipti(Jns in prLPdTiTig thcsc findnLidl stalemenis, as permilled by FRS 102 'The Financial Reporling, Slandai'd applicable in the UK and RepubliL ol. Ireland,: the requiremeiit8 nf Section 7 .8tatemeiit of Casli F'loivs. Ineome All incoine is reeogni.4ed in the Stateineiit of Financial A¢tiiiities ollce the charity has entlen]e17t to the funds, it is prol)able that the incoiiie Ni'ill be received, and tliat the ainoiint can bc ineLlsured relialily. Expenditure Lidbililies are itcogyni%ed as expenditure 415 soon there is a legial or coll4lructie obligation eommilliiig the charity to tliat CKpeiiditurc. it is probablc that a Iransf¢r of cconoinic l)ciicfils will bL rcquircd in s¢iilciiicnt aiid th¢ aimount ot.thc obligation can bc nicasurcd rclial)ly. Lxpenditurc 18 accounted tor on ali accrual% basi8 and has been classified linder headIngS th¢il dggTI-e&Jdte dll Lost related to the category. Where costs Lannot be direcily allribuled io parlicular headinLT4 Ihey Iiave beeii allocaled lo aclivilies on a basis con.qi%lenl wilh Ihe u.%c of rc.sourcc8. Gi?nts offei'ed subjLCt to conditions whLLh have not been met at the year-end date are noted as a coniniitnient but iiol accrued as expenditure. Taxation Thc Lliarity is ¢x<mpt froill tax on its vharitablL activities. Fund aciountlng Uiircstrictcd funds can bc uscd in accordancc iiiitli the cliaritablc objcctikes at tlic discrction of the trLlStccs. RLslrictcd funds Ciln unly bL uscd foi. parliiiilai. Irsti-ictLd piirposcs within thc objLLts of thL chdrity. Reslricl ions ¢irise when speci fied by Il)e donor or wl)eii fuiid4 are rai.4ed for parliciilar re%(ricled piirpo%es. burther explanation of the nature and purpose of eacli fund 18 included in the iiotes to the financial statements. Pagc 8 Lontii)ued...
Chichester Cathedral Friend5 otes to the Flnancial Statements - Lontinued for the Year Ended 31st March 2024 DONATIONS AIND LEGACIES 2024 2023 Donations Gift aid Legacies Subscripti(Fns 9.650 2.722 500 10,888 6,399 24,840 29.839 OTHER TRADING ACTIVITIES 21124 Fundraising* e'entts IIIVESThlENT INCONIE 2024 2023 liivesiment income Deposit account interest 18.5?9 ?? 19,450 CHARITABLE ACTIVITIES COSTS Grani fuiiding Support of aetivitic cosls (qce (scL notc 6) Iiot¥ 7) Dircct Cotsts Tot<ils Q liaritablc activitic.% Support costs 9,124 18,S96 28.020 GIL4Ts PAYABLE 2024 Thoiiias WLLlkcs' AnnivL'rsary ConLLrt P(lrt Funding of Educational Rolcs (£20,000 p.a. x3ycar.s) Addilioiial expeiidilure re C&%socks & CIo¢ik.s fiSIII SUPPORT COSTS Governance costs Finaiice Totals Suppoi-l cosls 277 Pa¥e 9 Continued...
Chiehester Cathedral Friends Potes to the Flnancial Stateinent5 - eontlnued fur the YL'ar Ended 31st Mareh 2024 'I'RUS'I'LLS' RL"IlrlU.NLRA'I'IOIY AND BLNLb I"I'S There were no Iruslees, remuneralion or other benelils for the year ended 31 sl MarL'h 2024. Trustees, expenses There were no triree5, expenses paid for the ycar ended 31., March ?024. FIXED ASSET I1%IFESTlENTs Li8tcd invcsts)Ici)ts MARKET VALUE Ai Isi April 2023 Dispo.sals Revalualions 31C),554 5.837 At 31 st Marcli 2024 313 718 NET BOOK VALUE At 31 st MarLh 2024 313718 At 31st March •023 319.554 Thcrc kn'crc tto iiivc.stincnt a8SCt8 out.sidL thc UK. P¢?ge 10 Lolltiiiued...
Chichester Cathedral Friends Notes to the Financial Statements - Continued for thL' YeAr End¢d 31st March 2024 DEBTORS: AMOUNTS FALLIIYG DUE WITHIN 0E YEAR 2024 2023 Tradc dcbtors Other debtors 11. CREDITOKS: AMoufiTS FALLING DUE IIIITHIN ONE YEAR 2024 ?023 Trade crcdiloi-% Oihei- credilor% 608 2011110 29.268 12. OVEMENT IN FUIIDS Net iiiovenienL in funds At 1.4.23 At 31.3.?4. Unrestrirted funds (ieneral fiiiid 14¥,316 (56.6571 91,659 Designated fund F.ducatioiial Role fund 60.000 Restricted funds Viutor Mcnagic LLgia¢y fimd TOTAL FUNDS 60,0011 181298 3?9 614 189610 341269 Net inov¢mLnt in tunds, in¢lud¢d in the above are as folloivs: Liicoiniiig rL'sourLLS Rcsources Inierfuiid tiains aiid Vlovcniciil 'xpL'ndLd TrdnsfL'rs IossL'5 in fldS Uni'cstricted funds Cicncral fund 37,X32 (31,967) (C)O.000) (2.522) (56.6571 Dcsignated funds r,ducatioiial Role fund 60.000 60,000 Restricted funds TOTAL FUNDS 37 Page 11 ¢oiitiJ)ued...
Chichester Cathedral Friends l*t)tes tu the Finanilal Statements - continued for the Year Ended 31st MarLh 2024 13. MOVEMENT Iiy FUNDS- Continued Comparatives for movement in funds Net Inovement in funds At 1.4.22 At 31.3.23 Unrestricted funds General fund 148,953 (637) 148.316 Restricted fund5 ViLtOT Mcn<tgc LcgaLy F und ??6 088 181 I'O'I'AL Tr UND,S 45.427 329614 Compai'ativc iict moveiiienl in fund8, included in the abovc are a.% follows.. Incoming resource8 Resources expeiided Gains and Moveinent loss¢s iii fid5 Unrestrlcted funds (Jencral fLind (32.4341 (9,419) (637} Resti-icted funds ViLtoi- MenagTre LegiaLy Fiind TOT AL FUNDS 75 1160 A current year l? montlis atid prior year 12 inontlis coiiibiJ]ed position is as follows.. Net niovL"Inent in funds. At 1.4.?2 At 31.3.24. Unrestricted I'unds CJcncral t.uiid 148,953 (57,?94) 91,659 Designated fund EducaEiniial Rnlc fund 60,000 60,000 Restricted funds Vivtor Menage LegaLy Fund 226 088 189 610 TOTAL FUNDS 375 (33 772 341 ?69 Page 12 ¥oJitinued...
Chichester Cathedral Friends Notes tu the &inaDcfial Statements - Luntlnued for the Year Ended 31st March 2022 13. MOVENIENT IN FufiDS - eonlinued A curreni veal- 12 monihs and prior year 12 nion£li% conibined nei moveimenl in funds, iiicluded in the above arc as follows= InLoining resources Resources expended Interfund Transfers Gains aiid losses Movemenl in funds Unrestrieted funds Generdl tund 79,04 164.401) (60,000) (11,941) (57,294) Desigllated fund Educaiional Rolc fund 60,000 60,000 Restricted funds Victor Mci)agc Legacy Fund TOTAL F[S 10109? 105 924 The inonies received fi'oin the estate of Victor Menage Iiave a regtrietion placed oil tliem. That restiiction is that all iiionies should be used for the promotion ot" Inu5ic at Chichestei- Cathedral. Adiiiee on the best use of the fiinds shoiild be bought froJn the Oi-gT(Inisl dnd Pr¢¢entor. The T11151ees iTrill aLlively seek that advice and expend the lund iii dCCOI-ddnce u.'ith ilie resli'iclion. 14. IIELATED PARTY DISCLOSURES Their M'ere no relaled parlv Iransaclion8 for the year ended 31.sl March 20?4. Page 13
Chichester Cathedral Friends Detailed Statement ot'FinanLial Aitivities for the l'ear Ended 31st March 2023 INCOIIIE AND ENDOWMENTS Donations and legaeies Donations CJift aid Legacies SiibscTiptions 9,650 2,722 500 10,888 6,399 ?4,840 2C).839 Other tradinty activities Fuiidraising cvcnl8 4,965 3.447 Invc'5tmL'nt IllLomL' liivcgtiTrent income Deposit aLL(Triint interest 18,529 19,450 ?? Total Én¢omillg resources 48,356 52,736 EXP[DITURE Charitable actii'ities Officc adiiiin and siippoit r.vciiL cxpcnscs MaTketing cxpcn%cs ML'LlincF cxpcnsLs Grants payable 5,899 1,931 1,169 125 12.255 1,566 659 150 28,0?1 73,256 Support Costs FinanLL Bank chargTrc8 277 184 Governance eosts Accountaiiey and legal Icc8 ACJM Cnsts 100 192 Total i'¢sources expended 30,864 75,060 Net gTain/(loss) on inv¢stmentS 103 Iyet (cxpenditurcyincome This pab?c dovs not torm part ot thc sratutvry *inaniièl siat¥iMLnts Page 14