Charity fygistration number 1159645 THE FRIENDS OF SOUTHWARK CATHEDRAL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE FRIENDS OF SOUTHWARK CATHEDRAL LEGAL AND ADMINISTRATIVE INFORMATION Patron: HRH The Duchess of Edinbur Members. Councll Clare Johnson Jennifer Jones Tessa Bartley Margarel Busgrth Margaret den Brinker Vivienne Baines John Benyon George Martin Guy Rowslon Sara George The Rev Canon Michael Rawson, Sub-D&an of Soulhwark Kathryn Dean The Very Revd Dr Mark Oakley, Dean (Appoinled 1 Dg¢ember of Southwark 20231 Charity number 1159545 Prfnclpal addrns$ Monlague Chambers Monlague Close LONDON SE190A Independent examiner Kinnaird Hill Biunel House 1 Archers Court Huntingdon Cambridgeshire PE29 6XG Bankers Natwesl Bank plc 10 Souhwark Street London SE11 HSBC Bank pl¢ l Kings Parade Dilchling Road BRIGHTON BN16JT
THE FRIENDS OF SOUTHWARK CATHEDRAL CONTENTS Page Council Members. feport Independent examinerfs repKJrt Stalemenl of finanaal activities Balance sheet Notes lo the financial statements 7-15
THE FRIENDS OF SOUTHWARK CATHEDRAL COUNCIL MEMBERS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The members. council present their 8nnual report and financAal statements for the year ended 31 Oecember 2023. The financial slalements have been ppared in accordance wilh the accounting polia8s sel out in note 1 to the financial slatements and comply with the charty's Igoveming documentl. the Charities Act 2011 and "Accounling and Reporting by Charflies.. Slalernenl of Recommended practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard appli¢%ble in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. Obiectivos and aetiviti•¥ The Friends of Southwark Cathedral is a charitable incrffporaled organisalioft which was established on 9 Dember 2014 number 1159545. It is the succèssor lo the unincorporated Friends ol Southwark Catheilral org8nisalion. registered charity number 279515. It has approximately 700 members. The objects of the charty are the furtherance of any religious o¥ oth&r chaiilable purpose or purposes in connection with Soulhw8rk Cathedral and the maintenance pair 8nd beaulificalion of the Calhedral and its fabri¢ and furnishings. The charity invites applications from Soulhwark Cathedral for gfanls for specific projects which come within its objects Membership is available to anyone who wishes lo join and who is committed lo supportlng the mission and enhancing the fabric of Southwark Cathedral. Throughout the Cathedral thère are various plaTrs to collect Friends publlcity and dlfferent ways in which mernbers can join the organis8tion.' through the Cathedral website, using an applicalton form in Friends leaflets or via CAFdonate. Members are able to Volunteer to support the charitable work of the Friends more regularfy and in doing so will be offered a range of training requirèments and opportunities for example safeguarding and first aid. AohSèvèments and perfomian¢e The Friends had another interesting and busy year in 2023. There were numerous opportunrties for mernbers to meet together wilh illustrated 18otures. our annual quiz, social gatherings and special services and our continuing progr8ryTrrne of pilgTimages. At the beginning ol the year the pilgrimage began al Southwark and ended at StAlbans Cathedral after which we moved to Gu¢ldford Cathedral. Iravelling along the Rivers Wey and Thames brtnging our pilgrimage year lo an end in Oclober when we arrfved al our home Cathedral. The chair and director of the Friends attended the biennial conference of the Friends of Cathedrals and Greater Churches he5d in October at Hereford Cathèdral. It was an excellent weekend full of supportlvg and inspirational lectures and opportunities to meet reprÈsentslives from other Friends organisations. The Trustees met 4 times and were pleased lo re¢eive a range of requests for funding from the Cathedral. In the financial year the Friends funded the Easter and Christmas flowers as well as the Easter Eggs gifts for the congregation, the refurbishmént of the Pro5$10n81 Cross together wrth the Cathedral and Verger's Slaves and the Christmas lights which provided a wami and festive welcome to visitors during Advent and Chiistmas. There was also a small grant given for resources for the Cathedral gaidèn which supported the work towards Ihe Bmnze Eco- Award. A particularfy special cDrnmitmenl was commissioning the Soulhwark Service dedicated lo our outgoing Dean. Andrew Nunn. This setting has been performed al a number of special Services since tts premier performance in July. A total of nearly £30.(X)O was given in grants lo the C3lhedral last year. Throughout Ihe year we welcomed new mèmbers and il ha5 been valuable lo have the opportunity to i1Sustrale the work of the Friends throughout the Cathedral inviting visitors to join the Friends thebY giving an on90in9 commilment lo the Cathedral.
THE FRIENDS OF SOUTHWARK CATHEDRAL COUNCIL MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financial review It is the policy of the charity that unreslrfcted funds whl¢h have not been designated for a specific use should be mainlained in the current account al a level equivalent lo beeen three and six month's expenditure. Any exTrss is placed In the deposit acc()unt. The members, council consider that serveS at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given lo ways in whh additional funds may be raised. This e1 of re5eNes ha5 been maintained throughout the year. Structure, governance and management The meTnbers' council who served during the year and up to th8 date of signatuiè of the financial statemènts We.. Clare Johnson Jennifer Jones Tessa Bartloy Margaret 8usgllh Margaret den Brinker Vivienne Baines John Benyon George Martin Guy Rowslon Sara Getsrge The Very Rev A Nunn. Dean of Southwark Th& Rev Canon Michaèl Rawson, Sub-Dean of Soulhwark Kathryn Dean The Very Revd Dr Mark Oakley, Dèan of Southwark (Appointed 1 Dernber 20231 (Retired 31 July 20231 Trustees are recruited from within the membership. When a place becomes avallable on the board of Trustees information is place in the Friends newsletter, thè Cathedral wèekly tnailing, on the Cathedral website and on social media for both the Friends an(t the Cathedral inviting rnernbers lo apply to become a Trustee. There are 12 members of the board plus the Dean and Sub-Dean who are ex-officio members. The Trustegs elect a chair an(1 treasurer from their number and the Friends Director holds the post ol secretary to the Trusteès. Oryantsational Structure Members of the charity are indiwduals who have paid an annual or Iffe subscription 8nd corporate bodies who have paid an annual subs(xiption. The management of the charity is the responsibility of the Council and the day to day running of the Charity 18 dèlegated to the Director Kathryn D6an. The members of the Council who have served during the year and since tho year end ar8 s8t out above. The Council comprises a maximum of 12 members. who are Trustees, Including-. the Dean and Sub-Dean of Southwark as ex-officio members 10 trustees who are elected at an Annual General Meeting of the members of the charity. The Council has power to co-opt trustees lo fill any vacancies. but those co-opted must stand for eledton at the next Annual Gener81 Meeting. The Council appoints the Chairman. Treasurer, and Gift Aid Officer from among members. The Council advertises for new trustees in its Newsletter and the Director, Kathryn Dean. deals wilh all appli¢8lions and the induction process for all successful appointees. The Council meets a minirnum of four times annually.
THE FRIENDS OF SOUTHWARK CATHEDRAL COUNCIL MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The council members. report was approved by the Board of Members, Council. Kathryn Director ean Date..
THE FRIENDS OF SOUTHWARK CATHEDRAL INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS, COUNCIL OF THE FRIENDS OF SOUTHWARK CATHEDRAL I report lo the members, council on my examinatiors of the ffinancial statements of The Friends of Southwa C8lhedral (the charity) for the year ended 31 December 2023. Rèspon$ibilitie$ and basis of report As the mèmbers. Council tsl the charity you are responsible for the preparation of the finanaal statements in 8rdanCe with the requirements of the CharitiesAct 2011 {the 2011 Act). I report in respect of my exam4nation of the charity's financi81 stslemenls carried out under section 145 of the 2011 Act. In Carrylng out my examination I have followed all the applicable Directions given by the Charty Commission under section 14515llbl of the 2011 Acl. Indep$ndgnt examlnefs 8tstsment Your attention is drawn lo the fact that the charity has prepared financial staternents in accordance with Accounting and Reporting by Charities preparing their accounts in accordan wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preferencé to th8 Accountin9 and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo In the extant regulatbons but has now been withdrawn. l understand Ihal this has been done in order for financial statements lo provlde a Iwe and tslr vlew In accordance with Generally Accepted Accounting Practi effectivè for raporting periods beglnning on or after 1 January 2015. I have completed my examination. I confirm that no matters have Come to my attgnlK)n In connecOn with the examination giving me cause to believe that in any material respeot.. accounting records were nol kepl in respect of the charity as required by section 130 of the 2011 Act,. or the financial slalements do not accord with those records., or the financtal statements do not comply wlth the applicable requirements concerning the form and content of accounts sel out in the Charities IAccounls 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 exarninalion. I have no ¢on¢ems 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 financial statements lo be reached. Kinnaird Hill Charted Certlfled Accountants Brunel House 1 Archers Court Hunlingdon Cambridge3hira PE29 6XG
THE FRIENDS OF SOUTHWARK CATHEDRAL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrèstrietèd funds 2023 Unrestrictsd funds 2022 Notes Incomè from: Donations and legacies Charitable activities Investments 8,730 16.250 24.558 22,688 19,009 15.3S1 Total income 49,538 57,048 Expenditure on". Raising funds Charitable 8clivilies Othèr expenditure 2,333 53.430 1,068 37,041 60 12 Totsl exp•ndlture 55,823 38.169 Nel gainsll105se51 on investments 13 27,024 127,2061 Net Incomèllexpendlturel and movement in funds 20.739 18,327) Reconciliation of funds: Fund balances at 7 January 2023 420,625 428.952 Fund balan¢es at 31 December 2023 441,364 420.625 The statement of financial activities indudes all 98ins and 1088es recognised in the year. All income and expenditure derive from conllnulng activities. The notes on pages 7 to 15 form part ofthese finanoal slalements.
THE FRIENDS OF SOUTHWARK CATHEDRAL BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assets Investments IS 797 402.957 338 375,933 403.748 376,271 Current assets Debtors Cash at bank and in hand 17 1,234 39,954 2,440 42,934 41.188 45,374 Creditor¥: amounts falling due within one year 18 13,572) 11,020) Nel current assets 37,616 44.354 Total assèts lèss current liabilitie 441,384 420,625 Incorne funds Unre lricted fu Lls Design8l&d funds General unreslrictèd funds 20 281,113 160,251 270,113 150,512 441,364 420,625 441.364 420.625 The notss on pages 7 10 15 forni part ofthese financial slalernents. The financsal statements were approved by the Members. Council on ...... Clare Johnson Chalr Vivienne Baines Treasurèr
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity illfomiation The FTiends of Soulhwark Cathedral is a charitablè incorporaled organisalion re91slered in England number 1159545. 1.1 Accountirtg convention These a¢¢ounls have been prepared under the historical cost conv8nlion with ilerns recognised at cost or transaction value. unless otheise stated in the relevant notes lo these accounts. The accounts have been prepaTed in accordance wilh the Statèment of Recommended Piadice.. Accounting and Reporting by Charities preparing their accounts in a¢¢oTdance with the Financial Reporting Standard applicable in the UK and Republic of ITeland {FRS1021 issued on 16 July 2014 and with the Charit$ Act 2011. 1.2 Going concern The accounts have been prgpa¥8d on a going concern basis as the trustees believe that no material uncertainty exists. The trustee5 have considered the level of funds held, and the expècted levèls of income and expenditure for 12 months from aulhorising these aceounts. The budgeted incgme and expenditure is sufficient with the level of reserves for the Charily lo be able lo continue as a going concem. 1.3 Charitable funds Unresliicted funds are expendable. at the discretion of th8 mÈmbeTS' ¢oun¢il in furtherance of their charitable objectives. Designated fvnds a unrestricted fijnds eaTtnaiked by the membeTS' council for a particular project. Thi$ does not legally restrict the Members. UnCIl discretion to apply the fund in furtherance of the objects of the charity. The deslgnaled Foundation Fund represents funds set aside by the CIAJnryl lo provKle annual endowment for the objects of the charity. 1.4 Income All income is recognised once the charity has entitlement lo the income, there is sufficient certainty of recèipt and so it is probable that the income will be received. and the amount of income receivable can be measured reliably. Donations are recognised when they have been ¢ommunicale¢J, with notification received in writing ol both the arnount and settlement date. In the event that a donation 15 subject lo conditions ihat require a level of performance before the charity rs Èntitled to the funds, the income is deferred and not recognised llnlil either those conditions are fully mel, or the fulfilmenl of those conditions is wholly within the control of the charity and il 15 probablp that those conditions will be ftjifilled in the reporting period. Legacy gifts are recognised on a case by case basis following the granting of probate when the adrninistratorl executor for the eslale has comrnunicaled in writing boih the amount and settlement date. In the event that the grft is in the form of an asset other than cash or a financial assèt traded on a recognised stock exchange. recognition is subject to the value of the gift being reliable measurable with a degree of reasonable accuracy and the tille to the asset has been transferred lo the charity. Interest on funds held on deposit is included upon notiftcalion of the interest paid or payab by the Bank. Dividends ale recognised once the divtdend has been dedared and nolificatlon has been received of the div7dend due.
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ounting pollcles Icontlnuedl 1.5 Expenditurè Liabilities are recognlsed as expenditure as so)n as there is a legal or constructive obligation committing the charity to that expendrture. il is probable that settlement will be required, and the arnounl of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses. including support C051s and governance costs. are alh)¢aled 01 apports'oned to the applicable expenoilure headings in the 51alement of financial activities. Grants payable are payments made to third partses in the fvrtherance of the charitable objects of the charity. In the case ol an unconditional giant offer this is accrued once the recipient has b88n notified of the grant award. The notifi¢8lion gives the recipient a reasonable expectation that they will receive the grant. Granis awards that are subject to the recipient fulfilling performance conditions are only accrJJed when the recipient has been notified of the grant and any remaining unfvlfilled condib'ons attaching lo that grant are outside of the control of the chartty. Provisions for grants ore Tnafle when the intention to make a grant has been communicated to the recipient bLrt there is uncertalnty as lo the timing of the grant or the amount of grant payable. The expenditure on charitable acb'vities includes giants m8de, govemance costs and other support costs as shown note 6. 1.6 Tangible fixed assets All assets costing more than £250 are capilalised at valued al hislorieal cost. Depreciation is charged from the year of acquisition on equipment on a slraight-line basis over their estimated useful life of four year5. Computers 25% on slraighl line basis 1.7 Fixed asset investments Investfflenls are initially iecognised at Iheir Iransactlon value and subsequently rneasured at their market value as at the balance sheet dale using the closing quoted market price. The statement of financial ath"vilies includes Ihg nel gains and losses arising on revaluation and disposal throughout the year. The tharily does not acqulre, or use put options, derivatives or other complex financial insliuments.
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies IContinu8dl 1.8 Church Workers Pension Fund The Friènds of SouthwaTk Cathedral (PB 20141 participates in the Penslon Bullder Scheme se&ion of CVVPF for lay staff. The Scheme is administered by the Church of England Pensions Board, which hold5 Ihe assets of the schemes separately from those of thè Employer 8nd the other participating employers. The Church Workers Pension Fund has sections known as the Defined Benefits Scheme and the Pension Builder Scheme. whi(* has two subsections.. lal a deferred annuity section known as Pension Builder Clas51C and {bl a c4sh balance section known as Pension Builder 2014. Pension Buildèr Scheme Both subsections of The Pension Builder Scheme of the Church Workers Pension are classed as defined benefit schemes. Pension Builder Classic provides 8 pension, aumUlated Irom contributions paid and converted into def6rred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from lime lo lime. Discretionary increases may also be deGlared, depending upon the investment returns and other factors. Pension Builder 2014 is a ¢a$h b818nce scheme that provides a lump surn which members use lo provide benefits al reliremenl. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added befora ratirgment, depending on investment returns and other factois. The account, plus any bonuses declared, is pay8blè. unreduced. from age 65. Theie is no sub-divtsion of as5els befvleen employers in each section of tho Pansion Builder Scheme. The scheme is considered to be a mulli-employer scherT)e as described in Section 28 of FRS 102. This is because it is not possible lo attribute the Pension Builder Scheme's assets and liabilib'es to specific employers and that contributions are accounted for as if the Scheme were a defined ¢ontribulion scheme. The pensions costs charged lo the SOFA in the year are contributions payable12023.. £1,474, 2022.. £1,391). A valuation of the Pension Builder S¢heme is Carried out once every three years. The most renI scheme valuation was ¢arTied out as al 31 December 2019. For the Pension Builder Classic $6ction. the 2019 valuation vealed a deficit of £4.8m on the ongoing assumptions used. At the most cent annual review effective 1 January 2024. the Board Chose lo grant a discretionary bonus of 6.7% to both pensions not yet in payment and pensions in payment in respect of service prior lo April 1997., and a bonus on pensions in payment in respect of post Apiil 20( service so that the pension increase was 5% Iwhere usually il would bg Galculale(I based on inflalion up to 2.5°Al. This followed improvements in the funding position over 2023. There is no requirement for deficit paymen15 31 the current time. For the Pension Builder 2014 section. the 2019 v81u8tion revealed a surplus of £5.5m on the ongoing assumptions used. There is no reqijirement for deficit payment al the current lime. The next valuation is due 31 December 2022, which is currently underway. The legal structure of the scheme is such that if another employer fails, The Friends of Soulhwark Cathedral IP8 2014} could become responsible for paying a share of the failed employer's pension liabilitbes. 1.9 Realised gains and losses All gains and losses are taken lo the statement of financial activities as they arise. Realised gains and losses ¢M investments are calculated as the difference between sales pio¢eeds and their opening carrying value or theif purchase value if acquired subsequent la the first day of the financial year. Unfealised gains and lossès are calculated as the difference between the fair value at the year end and their Garrying value. Realised and unreali5ed investment gains and losses are Mbined in the Slalemenl of Financial Actmlies.
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2023 Accountlng poli¢le$ {Continuedl 1.10 Contingent liabilities A contingent liability is identifl@d and dlsclosed for those grants Tesulting from.. a possible obligation whlch will only be confirmed by the occurrence of one or more uncertain future events not wholly within the trustees, control., or a present obligatlon following a grant offer where settlèment is either not considered probable., or the amount has not been communicated in the grant offer and that amount cannot be estimated reliably. Incoma from donations and legacies Unrestricted funds 2023 Unrestricted funds 2022 Donations and gifts Legacies receivable 8.730 6.688 18,000 8,730 22,688 Incomo from Charitable activities Unrnstrietèd lund$ 2023 Unrestricted funds 2022 Subscriptions Events income 10,072 8,178 16,053 2.956 16.250 19,009 Ineome from inve¥tments Unrestricted Unrestsleted funds funds 2023 2022 Income from fixèd asset investment Transfer from M&G 16.8e9 7.689 15,351 24,558 15,351 10.
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on raising fund$ Unrestri¢t¢d Unr•stricted funds funds 2023 2022 Fundralslng and publleity Staging fundraisin9 events 2.333 1,068 Exp8ndlture on charitable actlvltles Unrestricted Unrgstrieted 2023 2022 Direct costs Staff costs Deprecialron and impaimient 18,787 147 18.130 108 18.934 18,238 Grant funding of activities (see note n 28,741 13.380 Share of $upport and governance costs {s8e note 81 Support 5,755 5.423 53,430 37,041 Analysis by fund Unrestricted funds 53,430 37,041 Grants payable Unrestricted Unrestrtctsd 2023 2022 Grants to SouthwaTk Calhedpl for.. Regular commitments Composition.. Soulhwark services Mernorial Book Christmas Trees FaIve11 grfts Garden grant and fioweTS Volunteer Management system Easter Day musicians Gaia installation Other 1,595 7,524 350 10,464 2.226 2.695 2,697 1,414 10,176 990 990 28.741 13,380 11
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs allocated to activities 2023 2022 Stationery. post and telephone Travel Insurance OtheT costs Payroll Conference Independent examination 1,111 325 129 2,022 90 843 1.235 2,306 118 1.511 54 350 1,020 5.755 5.423 Analysed betwèen: Chariiable activiti&s 5,755 5.423 Net movèment in funds 2023 2022 Tho nèt movement in fund5 is staled after chargingl{crediling)'. Depreciation of owned langbble fixed assets 747 108 10 Mèmbèrs. Ctsuncil NonB of the membeis, Council (or any persons connected with them) received any remuneration during ihe year. but one of them wa5 reimbursed a total of £103 travelling axpanses12022- none were reimbursed). 11 Employgas The average monthly number of employees during the year was.. 2023 Number 2022 Number Employment costs 2023 2022 Wages and sa5aFies Other pension costs 17,313 1,474 16.739 1,391 18,787 18,130 There were no employees whose annual remuneration wa5 more than £80,000. 12
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 72 Other expendlture Unrestrieted Unre5trictsd funds fund$ 2023 2022 Bank charges 60 60 13 Gains and loss•$ on investments Unrestricted unstrICted funds funda 2023 2022 Gain$lllossesl arising on.. Revaluab'on of investments 27.024 I27.2() 14 Taxation The charity is exempl from taxation on lts adivities because all ils income is applied for chaiitable puiposes. 15 Tangible fixe(l assets Computers Cost At 1 January 2023 Additions 1,057 At 31 December 2023 1,657 Depreciation and Impairment Al 1 January 2023 Depreclalion charged in the year 719 147 At 31 Decernber 2023 866 Carylng amount At 31 Dècember 2023 791 Al 31 December 2022 338 13-
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 16 Fixed asset investments Listed Inv•stmènts Cost or valuaUon Al 1 January 2023 Valu81ion Changes 375.933 27,024 Al 31 December 2023 402,957 Carrylng arnount At 31 December 2023 402,957 Al 31 December 2022 375,933 17 Dgbtors 2023 2022 Amounts falling due within one year. Trade debtors 1,234 2,440 18 Crèdltoys: amounts falling due within one year 2023 2022 Other creditors Acciuals and deferred income 1.317 2.255 1.020 3,572 1.020 19 Retlrement beneflt schemas 2023 2022 Defined Contribution schemes Charge lo profil or loss in respect of defined contribution schemes 1,474 1,391 The charity operates a defined contribuiion pension sthème for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independenlty adrninistered fund. 14-
THE FRIENDS OF SOUTHWARK CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 20 Unrestricted funds The unreslTiCted funds of Ihe charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and granlors as to how they may be used. These also includ designated funds, specifically the Foundation Fund, which have been sel aside out of unreslricteil lunds by the Iiusleas for specific purposes. At 1 January 2023 In¢oming resources Resources expended Transfers Galns and lo$$es At31 December 2023 Foundation fund General funds 270.113 150,512 11,000 (11.000) 281.113 160.251 49.538 {55,8231 27.024 420,625 49,538 155,8231 27.024 441,364 Pr8vlous y•ar: At 1 January 2022 Incoming resources Resources exnd• Trdnsfers Galns and losses At31 Decemb8r 2022 Foundation fvnd General funds 270,113 158.839 270,113 150,512 57.048 138.1691 127,206) 428,952 57.048 138,1691 127,206} 420.825 21 Related party transactions Transaetlons with Trlated parties During the year the chaiily entered into the following transactions with related parties.. Grants payable lo Soulhwark Cathedral are listed in note 7 of the Accounts. Members, Council reimbursed expenses are disclosed in note 10 of the Accounts. The We no outstanding balances al the year end. 15-