Charity registration number 1159545 {England and Wales)
THE FRIENDS OF SOUTHWARK CATHEDRAL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE FRIENDS OF SOUTHWARK CATHEDRAL
LEGAL AND ADMINISTRATIVE INFORMATION
Patron: HRH The Duchess of Edinbur
President
The Bishop of Southwark
Members. Council
Clare Johnson
Jennifer Jones
Tessa Bartley
Margaret Busgilh
Margaret den Brinker
Vivienne Baines
John Benyon
George Martin
Guy Rowston
Sara George
The Rev Canon Michael Rawson.
Sub-Dean of Soulhwark
Kathryn Dean
The Very Revd Dr Mark Oakley, Dean
of Southwark
Charity number
1159545
Principal address
Monlague Chambers
Monlague Close
LONDON
SE1 9DA
Independent examiner
Kinnaird Hill
Brunel House
1 Archers Court
Huntingdon
Cambridgeshire
PE29 6XG
Bankers
Nalwest Bank plc
10 Souhwark Street
London
SE1 1TT
HSBC Bank plc
1 Kings Parade
Ditchling Road
BRIGHTON
BN16JT

THE FRIENDS OF SOUTHWARK CATHEDRAL
CONTENTS
Page
Council Members, report
Independent examiner's report
Statement of financial activities
Balance sheet
Notes lo the financial statements
7-16

THE FRIENDS OF SOUTHWARK CATHEDRAL
COUNCIL MEMBERS. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The members, council present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the
financial slaletnents and comp5y with the charity's governing document, the Charities Act 2011. FRS 102 "The
Financial Reporting Standard applicable in thé UK and Republic of Ireland" and the Charities SORP "Accounting
and Reporting by Charities-. Slalement of Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)"
Objectives and activities
The Friends of Soulhwark Cathedral is a charitable incorporated organisation which was established on 9
De￿mber 2014 number 1159545. 11 is the successor to the unincorporated Friends of Southwark Cathedral
organisalion, registered charity number 279515. 11 has approximately 700 members.
The objects of the charity are the furtherance of any religious or other charitable purpose or PLJrposes in connection
with Southwark Cathedral and the maintenance repair and beaulificalion of the Cathedral and ils fabric and
furnishings.
The charity invites applications from Southwark Cathedral for grants for specific projects which come within its
objects.
Membership is available lo anyone who wishes to join and who is commilled to supporting the mission and
enhancing the fabric of Southwark Cathedral. Throughout the Cathedral there are various places lo collect Friends
publicity and different ways in which members can join the organisation.. through the Cathedral website, using an
application form in Friends leaflets or via CAFdonate. Members are able lo volunteer to support the charitable work
of the Friends more regularly and in doing so will be offered a range of training requirements and opportunities for
example safeguarding and first aid.
Achievements and performance
The Friends had another varied and busy year in 2024. There were numerous opportunities for members to meet
together with illustrated lectures, our annual quiz, social gatherings and special Services and our continuing
programme of pilgrimages. During 2024 we enjoyed pilgrimages lo Wallham Abbey from the cathedral. along
Cuckmere Pilgrims Path in Sussex and began our longer journey from Rochester to Winchester.
In April a group of Friends visited Dresden for a long weekend continuing our theme of 'reconciliation'. During the
weekend the group enjoyed a tour of the Frauenkirche and also attended a Sunday morning service.
The Trustees met four times during the year and were pleased to re￿1ve 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 for
the congregation. We continued with our regular commitment paying for the ongoing costs of the volunteer
management system and donations database. Bigger projects funded by the Friends Foundation Fund included the
specialist cleaning of Lancelol's Link and the archaeology chamber logether with the first stage of the conservation
of the Lancelot Andrewes book collection. A total of £28,270 was given in grants to the Cathedral durin9 the year.
All our events were open to all, ensuring continued public benefit of our organisation. It ha5 been valuable to have
the opportunity to illustrate the work of the Friends throughout the Cathedral and in doing so we have been able to
invite visitors to join the Friends thereby giving an ongoing commitment lo the Cathedral.
Financial review
11 is the policy of the charity that unreslricled funds which have not been designated for a specific use should be
maintained in the current account at a level equivalent to be￿een three and six month's expenditure. Any excess is
placed in the deposit account. The members, council consider that reserves at this level will ensure that, in the
event of a significant drop in funding, they will be able to continue the charity s currenl activities while consideration
is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the
year.

THE FRIENDS OF SOUTHWARK CATHEDRAL
COUNCIL MEMBERS. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
The members, council who served during the year and up to the date of signature of the financial slatements were..
Clare Johnson
Jennifer Jones
Tessa Bartley
Margaret Busgith
Margaret den Brinker
Vivienne Baines
John Benyon
George Martin
Guy Rowslon
Sara George
The Rev Canon Michael Rawson, Sub-Dean of
Soulhwark
Kathryn Dean
The Very Reiid Dr Mark Oakley, Dean of Southwark
Trustees are recruited from within the membership. When a place becomes available on the board of Trustees
information is place in the Friends newsletter,'the Cathedral weekly mailing, on Ihe Cathedral website and on social
media for both the Friends and the Cathedral inviting members to apply to become a Trustee. There are 12
members of the board plus the Dean and Sub-Dean who are ex-officio members. The Trustees elect a chair and
treasurer from their number.and the Friends Director holds the post of secretary lo the Trustees.
Organisational Structure
Members of the charity are individuals who have paid an annual or life subscription and corporate bodies who have
paid an annual subscription.
The management of the charity is the responsibility of the Council and the day to day running of the Charity is
delegated to the Director Kathryn Dean.
The members of the Council who have served during the year and since the year end are set out above.
The Council Gomprises a maximum of 12 membèrs, who are Trustees, including:
the Dean and Sub-Dean of Soulhwark as ex-officio members
10 trustees who are elected at an Annu81 General Meeting of the members of the charity.
The Council has power to Co-opt trustees to fill any vacancies. but those co-opted must stand for election at the next
Annual General Meeting. The Council appoinls the Chairman. Treasurer, and Gift Aid Officer from among its
memb8rs.
The Council advertises for new trusteés in ils Newsletter and the Director, Kathryn Dean, deals with all applications
and the induction process for all successful appointees.
The Council meets a minimum of four limes annually.

THE FRIENDS OF SOUTHWARK CATHEDRAL
COUNCIL MEMBERS, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The council members, report was approved by the Board of Members, Council.
alhryn
Director
an
Dale..

THE FRIENDS OF SOUTHWARK CATHEDRAL
INDEPENDENT EXAMINER'S REPORT
TO THE MEMBERS. COUNCIL OF THE FRIENDS OF SOUTHWARK CATHEDRAL
I report to the members, council on my examination of the financial slalements of The Friends of Southwark
Cathedral (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the members, council of the charity you are responsible for the preparation of the financial statements in
accordance with the requirements of the Charities Act 2011.
report in respect of my examination of the charity's financial statements carried out under section 145 of the
Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission
under section 145{51{bl of the Charities Act 2011.
Independent examiner's statement
Your attention is drawn to the fact that Ihe charity has prepared the financial statements in accordance with the
relevant version of the Statement of Recommended Practice applicable to charities preparing their financial
statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
1021 in preference to the Accounting and Reporting by Charities.. Stslement of Recommended Praclice issued on 1
April 2005 which is referred to in the extant regulations but has now been withdrawn. l 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.
I have completed my examination. I confirm that no matters have come lo my attention in connection wilh the
exarninalion giving me cause to believe that in any material respect..
accounting records were not kepl in respect of the charity as required by section 130 of the Charities Act 2011.
the financial statements do not accord with those records. or
the financial statements do nol comply with the applicable requirements concerning the form and conlent of
financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other Ihan any
requirement that the financial slalements 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 acr055 no other matters in connection with the examination to which attention
should be drawn in this report in order lo enable a proper understanding of the financial statements to be reached.
Kinnaird Hill
Chartered Certified Accounlants
Brunel House
1 Archers Court
Huntingdon
Cambridgeshire
PE29 6XG
Dated..

THE FRIENDS OF SOUTHWARK CATHEDRAL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
Unrestricted
funds
2023
2024
Notes
Income from:
Donations and legacies
Charitable activities
Investments
5,000
5,000
30,978
17,598
8,730
16,250
24,558
30,978
17,598
Total income
48,576
5,000
53,576
49,538
Expenditure on..
Raising funds
Charitable activities
Other expenditure
12.866
54.548
80
12,866
54,548
80
2,333
53,430
60
12
Total expenditure
67,494
67,494
55,823
Nel gainslllossesl on investments
13
19.226
19,226
27,024
Net income and movement in funds
308
5,000
5,308
20,739
Reconciliation of funds:
Fund balances al 1 January 2024
441.364
441,364
420,625
Fund balances at 31 December 2024
441,672
5,000
446,672
441,364
The statement of financial activities includes all gains and1055es recognised in Ihe year. All income and expenditure
derive from continuing activities.
The notes on pages 7 to 16 form part of these financial statements.

THE FRIENDS OF SOUTHWARK CATHEDRAL
BALANCE SHEET
ASAT 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
Investments
15
16
578
422,183
791
402,957
422,761
403,748
Current assets
Debtors
Cash at bank and in hand
17
1,358
27.389
1,234
39,954
28.747
41.188
Creditors: amounts falling due within
one year
18
(4,8361
13,5721
Net current assets
23,911
37,616
Total assets less current liabilities
446,672
441,364
Income funds
Restricted funds - general
Unrestricted funds
Designated funds
General unrestricted funds
20
5,000
21
264,562
177.110
281,113
160.251
441,672
441,364
446,672
441,364
The notes on pages 7 to 16 fomi part of these financial statements.
The financial statements were approved by the Members, Council on
QOQS
Clare Johnson
Chair
Vivienne Baines
Treasurer

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity information
The Friends of Souihwark Cathedral is a charitable incorporated organisation registered in England number
1159545.
1.1 Accounting convention
These accounts have béen prepared under the historical cost convention with items recognised at cost or
transaction value, unless olhemise slated in the relevant notes to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice.. AGcoLJnling
and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS102} issued on 16 July 2014 and with the Charities Act
2011.
1.2 Going concern
The accounts have been prepared on a going concern basis as the trustees believe that no material
uncertainly exists. The trustees have considered the level of funds held. and the expected levels of income
and expenditure for 12 months from aulhorising these accounts. The budgeted income and expenditure is
sufficienl with the level of reserves for Ihe charity to be able lo continue as a going concern.
1.3 Charitable funds
Unrestricted funds are expendable, at the discretion of the members. council in furtherance of their charitable
objectives.
Designated funds are unreslricled funds earmarked by the members. council for a particular project. This
does not legally restrict the rnembers, council discretion lo apply the fund in furtherance of the objects of the
charity.
The designated Foundation Fund represents funds sel aside by the Council lo provide annual endowment for
the objecls of the charity.
Reslricled funds are subject lo specific conditions by donors or grantors a5 to how they may be used. The
purposes and uses of the restricted funds are set oul in the notes lo the financial slatemenls.
1.4 Income
All income is recognised once the charity has entitlement lo the income, there is sufficient certainly of receipt
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 communicated, with notification received in writing of both Ihe
amount and selllemenl date. In the event that a donation is subject lo conditions that require a level of
performance before the charity is entitled lo the funds, the income is deferred and not recognised until either
those conditions are fully met, or the fulfilmenl of those Gonditions is wholly within the control of the charity
and il is probable that those conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the granting of probate when the adminislr8lorl
executor for the eslale has communicated in writing both the amount and settlement date. In the event that
the gift is in the form of an asset other than cash or a financial asset 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 lille to the asset has been transferred to the charity.
Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank.
Dividends are recognised once the dividend has been declared and notification has been received of the
dividend due.

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollcies
(Continued)
1.5 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation committing the
charity to that expenditure, il is probable that settlement will be raquired, and the amount of the obligation can
be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance
costs. are allocaled or apportioned to the applicable expenditure headings in the statement of financial
activities.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity.
In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant
award. The notification gives the recipient a reasonable expectalion Ihat they will receive the grant. Grants
awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient
has been notified of Ihe granl and any remaining unfulfilled conditions attaching to that grant are outside of the
control of the charity.
Provisions for grants are made when the intention to make a grant has been communicated lo the recipient
but there is uncertainty as to the timing of the grant or the amount of grant payable.
The expenditure on charitable activities includes grants made, governance costs and other support costs as
shown in note 6.
1.6 Tangible fixed assets
All assets costing more than £250 are capltalised and valued al historical cost. Depreciation is charged from
the year of acquisition on equipment on a straight-line basis over their estimated useful life of four years.
Computers
25 % on straight line basis
1.7 Fixed asset investments
Investments are initially recognised at their transaction value and subsequently measured al their market
value as at the balance 5heel date using the closing quoted market price. The slalement of financial activities
includes the nel gains and losses arising on revaluation and disposal throughout the year.
The charity does not acquiré, or use put options, derivatives or other complex financial inslrumenls.

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued}
1.8 Church Workers Pension Fund
The Friends of Soulhwark Cathedral (PB 20141 participates in the Pension Builder Scheme section of CWPF
for lay staff. The Scheme is administered by Ihe Church of England Pensions Board. which holds the assets of
the schemes separately from those of the Employer 2nd the other participating employers.
The Church Workers Pension Fund has two sections known as the Defined Benefits Scheme and the Pension
Builder Scheme. which has two subsections.. (a) a deferred annuity section known 8$ Pension Builder Classic
and Ib) a cash balance section known as Pension Builder 2014.
Pension Builder Scheme
Both subsections of The Pension Builder Scheme of the Church Workers Pension are classed as defined
benefit schemes.
Pensian Builder Classic provides a pension, accumulated from contribulions paid and converted into
deferred annuity during employment based on terms sel and reviewed by the Church of England Pensions
Board from time lo lime. Discretionary increases may also be declared. depending upon the investment
returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide
benefits al reliremenl. Pension contributions are recorded in an account for each member. Discretionary
bonuses may be added before retirement, depending on investment returns and other factors. The account.
plus any bonuses declared, is payable, unreduced. from age 65.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme.
The scheme is considered lo be a mulli-employer scheme as described in Section 28 of FRS 102. This is
because il is not possible to atlribule the Pension Builder Scheme's assets and liabilities to specific
employers and that contributions are accounted for as if the Scheme were a defined contribution scheme. The
pensions costs charged lo the SOFA in the year are contributions payable12024'. £1,588, 2023.. £1,474).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent scheme
valuation was carried out as al 31 December 2019.
For the Pension Builder Classic section. the 2019 valuation revealed a deficit of £4.8m on the ongoing
assumptions used. Al the most recent annual review effective 1 January 2024, the Board chose lo grant a
discretionary bonus of 6.70/0 lo both pensions not yet in payment and pensions in payment in respect of
service prior to April 1997., and a bonus on pensions in payment in respect of post April 2006 service so that
the pension increase was 5°/. (where usually it would be calculated based on inflation up lo 2.5 /.)- This
followed improvements in the funding position over 2023. There is no requiremenl for deficit payments at the
current time.
For the Pension Builder 2014 section, the 2019 valualion revealed a surplus of £5.5m on the ongoing
assumptions used. There is no requirement for deficit payment al the current time.
The nexl valuation is due 31 December 2022, which is currently undefway.
The legal structure of the scheme is such that if another employer fails. The Friends of Southwark Cathedral
IP8 20141 could become responsible for paying a share of the failed employer's pension liabilities.
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
on investments are calculated as the difference between sales proceeds and their opening carrying value or
their purchase value if acquired subsequent ta the first day of the financial year. Unrealised gains and losses
are calculated as the difference between the fair value at the year end and their carrying value. Realised and
unrealised investment gains and losses are combined in the Statement of Financial Activities.

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
1.10 Contingent liabilities
A contingent liability is identified and disclosed for those grants resulting from..
a possible obligalion which will only be confirmed by the occurrence of one or more uncertain fulure
events not wholly within the trustees, control.. or
a present obligation following a grant offer where settlement is either not considered probable- or
the amount has not been communicated in the grant offer and that amount cannot be estimated
reliably.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Donations and gifts
5,000
5,000
8,730
8,730
Income from charitable activities
Unrestricted
funds
2024
Unrestr(cted
funds
2023
Subscriptions
Events income
13.434
17,544
10,072
6,178
30,978
16,250
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Income from fixed asset investments
Transfer frorn M&G
17,598
16,869
7,689
17,598
24,558
10-

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Fundraising and publicity
Staging fundraising events
12,866
2,333
Expenditure on charitable activities
Unrestricted Unrestricted
2024
2023
Direct costs
Staff costs
Depreciation and impairment
19,520
213
18,787
147
19.733
18,934
Grant funding of 3clivilies (see note 7}
28,270
28,741
Share of support and governance costs (see note 81
Support
6,545
5,755
54.548
53,430
Analysis by fund
Unreslricled funds
54,548
53.430
Grants payable
Unrestricted Unrestricted
2024
2023
Grants lo Southwark Cathedral for..
Regular commitments
Composition.. Southwark seNices
Memorial Book
Christmas Trees
Farewell gifts
Garden grant and flowers
Volunteer Management system
Lancelol's Link cleaning
LancelotAndrewes Books
The Big Knit
Archeological chamber clean
Other
3,872
1.595
7,524
350
10,464
2,226
2,895
2.697
302
3,500
2,319
9,095
1,881
736
5.575
990
990
28,270
28,741
11

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs allocated to activities
2024
2023
Stslionery, post and telephone
Travel
Insurance
Other costs
Payroll
Conference
Independent examination
2,227
313
140
2,058
66
325
129
2,022
90
843
1,235
1,741
6,545
5,755
Analysed between:
Charitable activities
6.545
5.755
Net movement In funds
2024
2023
The nel movement in funds is stated after chargingl(creditingl:
Fees payable for the independént examination of the charity's financial
statements
Depreciation of owned tangible fixed assets
1,741
213
1,235
147
10 Members. Council
None of the members, council lor any persons connected with them) received any remuneration during .Ihe
year, bul one of them was reimbursed a total of£126 Iravelling expenses (2023 - £1031.
11
Employees
The average monthly number of employees during the yearwas..
2024
Number
2023
Number
Employment costs
2024
2023
Wages and salaries
Other pension cosls
17,932
1.588
17,313
1,474
19,520
18.787
There were no employees whose annual remuneration was more than £60,000.
12-

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Other expenditure
Unrestricted Unrestricted
funds
funds
2024
2023
Bank charges
80
60
13 Gains and losses on investments
Unrestricted Unrestricted
funds
funds
2024
2023
Gainsl{losses} arising on..
Revaluation of investments
19.226
27,024
14 Taxation
The charity Is exempl from laxalion on ils activities because all its income is applied for charitable purposes.
15 Tangible fixed assets
Computers
Cosl
Al 1 January 2024
1.657
At 31 December 2024
1,657
Depreciation and impairrnent
At 1 January 2024
Deprecialion charged in the year
866
213
At 31 December 2024
1,079
Carrying amount
Al 31 December 2024
578
At 31 December 2023
791
13-

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Fixed asset investments
Listed
investments
Cost or valuation
At 1 January 2024
Valuation changes
402,957
19,226
At 31 December 2024
422,183
Carrying amount
At 31 December 2024
422,183
At 31 December 2023
402,957
17 Debtors
2024
2023
Amounts falling due wlthln one year:
Trade debtors
Prepaymenls and accrued income
1,068
290
1,234
1,358
1,234
18 Creditors: amounts falling due within one year
2024
2023
Other creditors
Accruals and deferred income
165
4,671
1.317
2,255
4,836
3,572
19 Retirement benefit schemes
2024
2023
Defined contribution schemes
Charge lo profit or loss in respecl of defined contribution schemes
1.588
1.474
The charity operates a defined contribution pension scheme for all qualifying ernployees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
14-

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
20 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
At 1 January
2024
Incoming
resources
At31
December
2024
5,000
5,000
21
Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These also include
designated funds, specifically the Foundation Fund. which have been sel aside out of Ljnrestricted funds by
the trustees for specific purposes.
At 1 January
2024
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2024
Foundation fund
General funds
281,113
160,251
(16,551)
16,551
264,562
177.110
48.576
167.4941
19,226
441.364
48,576
(67,4941
19,226
441,672
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
Gains and
losses
At31
December
2023
Foundation fund
General funds
270.113
150,512
11,000
(11,0001
281,113
160,251
49,538
155,8231
27,024
420,625
49.538
155.8231
27,024
441,364
15-

THE FRIENDS OF SOUTHWARK CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Analysis of net assets between funds
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 December 2024:
Tangible assets
Investments
Current asselsllliabilitiesl
578
422,183
18,911
578
422,183
23,911
5.000
441,672
5,000
446,672
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
At 31 December 2023:
Tangible assets
Investments
Current assetsllliabilities)
791
402,957
37,616
791
402.957
37.616
441,364
441,364
23 Related party transactions
TransactSons with related partles
During the year the charity entered into the following transactions with related parties:
Grants payable to Southwark Cathedral are listed in note 7 of the Accounts. Members. Council reimbLtrsed
expenses are disclosed in note 10 ofthe Accounts. There were no outstanding balances at the year end.
16-