Charity registration number: 208584
Friends of Sherborne Abbey
Trustees' Report and Financial Statements for the Year Ended 31 December 2022
l.Li Photogruph.*.' Josig Sturges.g M£ll.s Photography
Friends of Sherborne Abbey
Contents (continued)
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 to 20 |
Friends of Sherborne Abbey
Reference and Administrative Details
Trustees
Patrons
Trustees
Charity Registration Number
Principal Office
Independent Examiner
The Right Reverend Nicholas Holtam MA The Right Reverend Timothy Thornton MA The Very Reverend Robert Willis DL BA
The Reverend Martin Lee Chairman Mr David Ferguson Churchwarden Mr Jonathan Rodd Churchwarden Treasurer, secretary and Dr Chris Hamon representative of Sherborne School Representative of Sherborne Mrs Jennifer Nelson Girls Honorary Publications Mr Philip Prout Secretary Chairman of PCC Fabric Mr Michael Keatinge Committee Mrs Jacqueline Baker Elected member Mr John Bunnell Elected member Mrs Frances Gomme-Duncan Elected member Mrs Samantha Henderson Elected member Mrs Hilary Leavey Elected member Mr Bill McDermott Elected member Canon Charles Mitchell-Innes Elected member
208584
3 Abbey Close Sherborne Dorset DT9 3LQ Ian Dodds Chartered Accountant Lanham & Francis 77a Cheap Street Sherborne Dorset DT9 3BA
Page 1
Friends of Sherborne Abbey
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2022.
Trustees
The Reverend Martin Lee Chairman Mr David Ferguson Churchwarden Mr Jonathan Rodd Churchwarden Treasurer, secretary and Dr Chris Hamon representative of Sherborne School Representative of Sherborne Mrs Jennifer Nelson Girls Honorary Publications Mr Philip Prout Secretary Chairman of PCC Fabric Mr Michael Keatinge Committee Mrs Jacqueline Baker Elected member Mr John Bunnell Elected member Mrs Frances Gomme-Duncan Elected member Elected member (resigned 23 Mrs Jo Hague March 2023) Mrs Samantha Henderson Elected member Mrs Hilary Leavey Elected member Mr Bill McDermott Elected member Canon Charles Mitchell-Innes Elected member
Objectives and activities
Objects and aims
The objects are to support the upkeep of the fabric of Sherborne Abbey.
Objectives, strategies and activities
The activities undertaken by the charity during the year are detailed in the reports that follow.
Fundraising disclosures
The principal funding of the charity arises from members' subscriptions, donations, bequests, as well as the sale of publications in the Abbey.
Public benefit
The purpose of the Friends of Sherborne Abbey is to bind together all those who love Sherborne Abbey in their desire to take part in preserving it for posterity.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
Details of activities undertaken during the year, as well as future plans are contained within the individual reports that follow.
Page 2
Friends of Sherborne Abbey
Trustees' Report (continued)
CHAIRMAN'S WELCOME
It is my great privilege to look at our report of the past twelve months once again and celebrate all that has been achieved. Caring for the fabric of our magnificent Abbey is a huge responsibility and is done so at considerable cost. My sincere thanks goes to all the Friends of the Abbey, whose contribution both financial and with giving time, enables us to maintain, enhance and value the architectural beauty, of which we are custodians. As you read this report, you will no doubt gain an insight into the considerable amount of work which we have undertaken and the ever-increasing costs that we have been forced to meet.
Please then accept my most sincere thanks for all that you have done, and indeed I hope, will continue to do, in supporting the Abbey. I hope you enjoy not only reading this report but visiting and seeing the extensive projects that we have been engaged in this year.
With my very best wishes and grateful thanks for your continued support.
The Reverend Martin Lee Rector of Sherborne Abbey
Photograph : Josie Sturgess Mills Photography
Page 3
Friends of Sherborne Abbey
Trustees' Report (continued)
CLERK’S REPORT
After curtailed activities due to the Pandemic, it was good to resume a normal full programme of events in 2022.
Over the course of the year, we welcomed members to two Coffee Mornings in the Digby Memorial Church Hall, one in March and the other in October. These were greatly enjoyed by those who attended and they were treated to good hot beverages and delicious cakes.
In May we held our AGM in the Abbey which was preceded by Choral Evensong sung by members of the Abbey Choir and with canapes generously provided by Sherborne School.
June saw a Friends’ Day with Evensong where we encouraged Friends to attend with their friends to recruit new members. We were treated to Prosecco, strawberries and cream after the service.
Early September, the Friends took a coach to visit Salisbury Cathedral. There was some free time to shop and lunch, followed by a tour of the Cathedral, tea in the Refectory and Evensong after which we returned to Sherborne.
November saw the mince pies and mulled wine reception prior to reserved seating in the Abbey for the Darkness to Light Advent Carol Service. This was very well attended and, as always, was a memorable and atmospheric event.
Dr Chris Hamon Sherborne Abbey Parish Office
CHURCHWARDENS’ AND FABRIC REPORT
2022 saw major work on the heating system. This had three main elements. First, we recommissioned the underfloor heating network which, for reasons unknown, had been closed off for more than 40 years. It was found to be entirely sound. This allowed us to run the boiler at a lower temperature with the big fans used as top-up, giving significant savings in gas and electricity. Second, we replaced the old boiler with a set of smaller more efficient units, with more saving in gas. Third, we installed a battery of six air-source heat pumps (ASHP) which will allow much of future heating to come from electricity rather than gas. The high electrical load of the ASHPs requires a new cable across the Close, which will not be installed until May this year. The inspiration behind this work was the late Mike Hayton who, sadly, did not live to see the project completed.
We also undertook major work in upgrading the lighting. This was made necessary by the withdrawal from production of the old high-energy luminaires, which have been replaced by light-emitting diodes (LEDs), giving lower energy use and longer life, while also providing improved lighting levels. The project also provides a more reliable and flexible control system and greatly improved emergency lighting. Our new tower scaffold has been highly valuable in this work.
Following the Quinquennial Survey in the spring of 2022, we have commissioned several more modest projects for 2023: replacement of heavily corroded downpipes on the north nave aisle; a widespread range of minor repairs to lead roofs; and a round of masonry work by rope access to address loose material and vegetation. We have also, after long development, commissioned a range of measures to improve safety for access and working at high level.
Investigations have continued on the proposed new wing between the car park and the former All Hallows wall, but this has been put on hold in the light of uncertainty over the future of the Almshouse which could fundamentally affect possible developments.
Mike Keatinge
Page 4
Friends of Sherborne Abbey
Trustees' Report (continued)
MEMBERSHIP SECRETARY’S REPORT
As of February 2023, we have currently 347 members on the roll, of which 4 are still outstanding on subscriptions from year ending 2022: they have been sent written reminders. We have gained 17 new members in 2022 and sadly lost 8 members to the Heavenly Kingdom and had 5 resignations (one couple having moved from the area). I have also removed 2 members whose subscriptions lapsed in 2021 and, despite reminders, have not renewed their subscriptions. So slightly more gains than losses.
Sadly, this year, we have had the death of Pat Atkinson, formerly the Secretary for many years and a great and loyal supporter of The Friends. She will be much missed and our condolences go to her family and friends.
Whilst our numbers are healthy, we cannot afford to be complacent and we all need to work hard to encourage people to join our throng. It is not so much the annual subscriptions, important though they are, but it is the generosity of the legacies which we receive, from time to time, from our deceased Friends which keep our funds topped up and allow us to continue to maintain and improve The Abbey fabric.
Dr Chris Hamon
PUBLICATIONS SECRETARY’S REPORT
The Abbey shop re-located to the north west area of the Abbey about nine months ago. Sales of Friends Publications can now be handled at the shop with card and cash payments, this is helping to gradually increase sales. This is in addition to the two Friends' book stalls that take voluntary cash payments.
The Robin Christmas card still has an amazing appeal with about 2,800 sold, total greetings card sales for the year was 12,439. The new guidebook sales were up by 77 from last year. We have increased the price of all our cards to help keep up with rising printing / material costs and inflation.
A big thank you to the vergers and Chris Hamon for keeping an accurate audit of the Publications.
Philip Prout Honorary Publications Secretary
Page 5
Friends of Sherborne Abbey
Trustees' Report (continued)
TREASURER’S REPORT
Financial review
The charity recorded a deficit for the year of £422,070 (2021 : surplus of £93,551), which excludes unrecognised losses on investments amounting to £137,682 (2021 : gains of £144,700).
The charity had total reserves at the year end of £1,018,048 (2021 : £1,577,800).
This has been a particularly busy year for the Friends in respect to use of Funds with three significant projects and some minor works.
This year saw the replacement of the old boiler in the Abbey with four new and efficient gas boilers and six Air Source Heat Pumps. Also, the old fan coil units in the Sanctuary, South Transept and Sepulchre Chapel were replaced as the old ones were worn but, more worryingly had traces of asbestos. The opportunity was also taken to re-instate the one in the Choir Vestry. Also, whilst the works were happening a leak in the pipework under the Lady Chapel floor was repaired. This was not cheap and it was funded by the Friends to the sum of £395,000 although some of this was off-set by a grant from Green Energy Dorset for just short of £70,000. This was more than anticipated and, whilst the main contractor came in on budget, it is surprising how fees, consultants, specialist contractors and sundry workers escalate the costs.
This year also saw the replacement of the lighting system with new energy efficient, and more light intense, LED fittings and a new control system. The cost for this is £200,000 and the year 2020 to the end of 2022 saw us pay approximately three quarters of the bill. The remainder will fall in 2023.
The fire alarm was also upgraded, having last been installed by the Friends over 20 years ago. Compared with the other two projects this was relatively minor at £29,137 and long overdue as we failed to hear it sound during the 2021 Midnight Mass, such was the volume of the singing and the inadequacy of the sounder. Small sums were expended on fabric repairs, our contribution towards the PCC insurance, and a pump priming for the toilet project.
Expenditure on running the Friends is relatively small but this could be reduced further if all of our members would email and consent to receiving communications by email, thus reducing stationery and postage costs.
Income last year was relatively modest, in comparison with some years. Whilst cards sales and subscriptions make a contribution, over the years the majority of our income has been derived from legacies. We continue to be very grateful for those who so generously leave bequests in their wills and it is on the back of these bequests that the majority of the Friends’ work hangs.
This year coming looks much easier on the purse. We have some agreed commitment towards the toilet project and some outstanding costs on heating and lighting. Related to this is the upgrading of the mains supply to the Abbey which is long overdue, surprisingly costly, and very difficult to pin down the utilities contractor involved. Also we have committed to fund a PhD student who will produce a Conservation Management Plan for the Abbey, parts of which are needed for the toilet project and all of which will be useful for any future work on the Abbey, either under current plans or as yet unrealised.
Dr Chris Hamon Treasurer
Page 6
Friends of Sherborne Abbey
Trustees' Report (continued)
Policy on reserves
Reserves are critical to the Friends financial position, and provide:
a) Working capital to support ongoing operations and activities (suppliers need to be paid on time) and to honour grant commitments
b) At least 12 months expenditure, to provide continuity in achieving our charitable activities as laid down in our Constitution
c) Future replacement of goods and equipment necessary in our operation
Working capital is to be held as cash, and items b) and c) to be held in the form of long term investments (with a ten year time horizon) in our investment portfolio.
Responsibility for implementing this policy rests with the Executive Committee of the Friends charity and shall be reviewed every three years, to ensure it is fit for purpose and that we are not setting aside too much or too little.
Structure, governance and management
Nature of governing document
The charity was founded at a meeting held on 24 May 1930, at which the constitution was created. This document has since been amended at meetings on 19 July 1983, 11 May 2004 and 9 May 2005.
Recruitment and appointment of trustees
Trustees are nominated and subsequently elected at the Annual General Meeting, in accordance with the constitution. Trustees hold office for a period of five years, after which they are eligible for re-election.
Objectives and policies
The Council of the Friends have considered the major risks to which the charity is exposed (both financial and non-financial risks) and the trustees confirm that the major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks.
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Page 7
Friends of Sherborne Abbey
Trustees' Report (continued)
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 7 February 2023 and signed on its behalf by:
Dr Christopher Hamon Trustee
Page 8
Friends of Sherborne Abbey
Independent Examiner's Report to the Trustees of Friends of Sherborne Abbey
I report to the trustees on my examination of the accounts of Friends of Sherborne Abbey for the year ended 31 December 2022.
Responsibilities and basis of report
As the charity trustees of Friends of Sherborne Abbey you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Friends of Sherborne Abbey's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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:
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accounting records were not kept in respect of Friends of Sherborne Abbey as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements concerning the form and content of 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 to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ian Dodds Chartered Accountant
Lanham & Francis 77a Cheap Street Sherborne Dorset DT9 3BA
12 May 2023
Page 9
Friends of Sherborne Abbey
Statement of Financial Activities for the Year Ended 31 December 2022
| Note Income and Endowments from: Donations and legacies 2 Other trading activities 3 Investment income 4 Total income Expenditure on: Raising funds 5 Charitable activities 6 Total expenditure Gains/(losses) on investment assets Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 16 |
Unrestricted funds £ Total 2022 £ 35,918 35,918 10,399 10,399 24,292 24,292 70,609 70,609 (5,017) (5,017) (487,662) (487,662) (492,679) (492,679) (137,682) (137,682) (559,752) (559,752) (559,752) (559,752) 1,577,800 1,577,800 1,018,048 1,018,048 |
Total 2021 £ 145,131 6,692 22,742 |
|---|---|---|
| 174,565 | ||
| (4,486) (76,528) |
||
| (81,014) 144,700 |
||
| 238,251 | ||
| 238,251 1,339,549 |
||
| 1,577,800 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2021 is shown in note 16.
The notes on pages 12 to 20 form an integral part of these financial statements. Page 10
Friends of Sherborne Abbey
(Registration number: 208584) Balance Sheet as at 31 December 2022
| Note Fixed assets Investments 11 Current assets Stocks 12 Debtors 13 Cash at bank and in hand 14 Creditors: Amounts falling due within one year 15 Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 16 |
2022 £ 780,138 16,040 1,706 221,464 239,210 (1,300) 237,910 1,018,048 1,018,048 1,018,048 |
2021 £ 917,820 15,056 3,394 642,830 |
|---|---|---|
| 661,280 (1,300) |
||
| 659,980 | ||
| 1,577,800 | ||
| 1,577,800 | ||
| 1,577,800 |
The financial statements on pages 10 to 20 were approved by the trustees, and authorised for issue on 7 February 2023 and signed on their behalf by:
Dr Christopher Hamon Trustee
Reverend Martin Paul Lee Trustee
The notes on pages 12 to 20 form an integral part of these financial statements. Page 11
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Friends of Sherborne Abbey meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Page 12
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sale proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) method.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Page 13
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when, there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when, and only when, a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
2 Income from donations and legacies
| Donations and legacies; Subscriptions and donations Legacies Gift aid reclaimed Donations and legacies; Subscriptions and donations Legacies Gift aid reclaimed |
Unrestricted funds Total General £ 2022 £ 15,190 15,190 18,625 18,625 2,103 2,103 |
|---|---|
| 35,918 35,918 |
|
| Unrestricted funds Total General £ 2021 £ 16,269 16,269 126,622 126,622 2,240 2,240 |
|
| 145,131 145,131 |
Page 14
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
3 Income from other trading activities
| Trading income; Sales of publications Events income; Other events income Trading income; Sales of publications 4 Investment income Other income from fixed asset investments Other income from fixed asset investments |
Unrestricted funds Total General £ 2022 £ 9,657 9,657 742 742 |
|---|---|
| 10,399 10,399 |
|
| Unrestricted funds Total General £ 2021 £ 6,692 6,692 |
|
| 6,692 6,692 |
|
| Unrestricted funds Total General £ 2022 £ 24,292 24,292 |
|
| 24,292 24,292 |
|
| Unrestricted funds Total General £ 2021 £ 22,742 22,742 |
|
| 22,742 22,742 |
Page 15
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
5 Expenditure on raising funds
a) Costs of trading activities
| Costs of goods sold Events and conferences Costs of goods sold b) Other costs of generating donations and legacies Other direct costs Other direct costs |
Unrestricted funds Total General £ 2022 £ 3,299 3,299 709 709 |
|---|---|
| 4,008 4,008 |
|
| Unrestricted funds Total General £ 2021 £ 3,054 3,054 |
|
| 3,054 3,054 |
|
| Unrestricted funds Total General £ 2022 £ 1,009 1,009 |
|
| Unrestricted funds Total General £ 2021 £ 1,432 1,432 |
Page 16
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
6 Expenditure on charitable activities
| Note Grant funding of activities Governance costs 7 Note Grant funding of activities Governance costs 7 |
Unrestricted funds Total General £ 2022 £ 485,742 485,742 1,920 1,920 |
|---|---|
| 487,662 487,662 |
|
| Unrestricted funds Total General £ 2021 £ 75,242 75,242 1,286 1,286 |
|
| 76,528 76,528 |
7 Analysis of governance and support costs
Governance costs
| Independent examiner's fee Examination of the financial statements Total for 2022 Total for 2021 |
Unrestricted funds Total General £ funds £ 1,920 1,920 |
|---|---|
| 1,920 1,920 |
|
| 1,286 1,286 |
8 Trustees' remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
Trustees have been reimbursed for direct postage, stationery and purchase costs incurred in connection with the charity, but have not been reimbursed for any other expenses or received any benefits from the charity during the year.
9 Independent examiner's remuneration
| Examination of the financial statements | 2022 £ 1,920 |
2021 £ 1,286 |
|---|---|---|
Page 17
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
11 Fixed asset investments
Other investments
| Other investments | ||||
|---|---|---|---|---|
| Cost or Valuation At 1 January 2022 Revaluation At 31 December 2022 Net book value At 31 December 2022 At 31 December 2021 12 Stock Stocks 13 Debtors Other debtors 14 Cash and cash equivalents Cash at bank 15 Creditors: amounts falling due within one year Accruals |
Listed investments £ 917,820 (137,682) 780,138 780,138 917,820 2022 £ 16,040 2022 £ 1,706 2022 £ 221,464 2022 £ 1,300 |
Total £ 917,820 (137,682) 780,138 780,138 917,820 2021 £ 15,056 |
||
| 780,138 | ||||
| 780,138 | ||||
| 917,820 | ||||
| 2022 £ 16,040 2022 £ 1,706 2022 £ 221,464 2022 £ 1,300 |
||||
| 2021 £ 3,394 |
||||
| 2021 £ 642,830 |
||||
| 2021 £ 1,300 |
Page 18
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
16 Funds
| 16 Funds | |
|---|---|
| Unrestricted funds General Unrestricted funds General |
Balance at 1 January 2022 £ Incoming resources £ Resources expended £ Other recognised gains/(losses) £ Balance at 31 December 2022 £ 1,577,800 70,609 (492,679) (137,682) 1,018,048 |
| Balance at 1 January 2021 £ Incoming resources £ Resources expended £ Other recognised gains/(losses) £ Balance at 31 December 2021 £ 1,339,549 174,565 (81,014) 144,700 1,577,800 |
17 Analysis of net assets between funds
| Fixed asset investments Current assets Current liabilities Total net assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds Total funds at 31 December General £ 2022 £ 780,138 780,138 239,210 239,210 (1,300) (1,300) |
|---|---|
| 1,018,048 1,018,048 |
|
| Unrestricted funds Total funds at 31 December General £ 2021 £ 917,820 917,820 661,280 661,280 (1,300) (1,300) |
|
| 1,577,800 1,577,800 |
Page 19
Friends of Sherborne Abbey
Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)
18 Analysis of net funds
| 18 Analysis of net funds | |
|---|---|
| Cash at bank and in hand Net debt Cash at bank and in hand Net funds |
At 1 January 2022 £ Financing cash flows £ At 31 December 2022 £ 642,830 (421,366) 221,464 |
| 642,830 (421,366) 221,464 |
|
| At 1 January 2021 £ Financing cash flows £ At 31 December 2021 £ 454,312 188,518 642,830 |
|
| 454,312 188,518 642,830 |
Page 20
Friends of Sherborne Abbey
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| Income and Endowments from: Donations and legacies (analysed below) Other trading activities (analysed below) Investment income (analysed below) Total income Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) Governance costs Total expenditure Gains/(losses) on investment assets (analysed below) Net (expenditure)/income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Total 2022 £ 35,918 10,399 24,292 70,609 (5,017) (485,742) (1,920) (492,679) (137,682) (559,752) (559,752) 1,577,800 1,018,048 |
Total 2021 £ 145,131 6,692 22,742 |
|---|---|---|
| 174,565 | ||
| (4,486) (75,242) (1,286) |
||
| (81,014) 144,700 |
||
| 238,251 | ||
| 238,251 1,339,549 |
||
| 1,577,800 |
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Friends of Sherborne Abbey
Detailed Statement of Financial Activities for the Year Ended 31 December 2022 (continued)
| Donations and legacies Legacies and bequests Subscriptions and donations Gift Aid tax reclaimed Other trading activities Sales of purchased goods Salisbury trip Investment income Income from listed investments Raising funds Opening stock Purchases Closing stock Printing, postage and stationery Sundry expenses Salisbury trip Bank charges Charitable activities - Upkeep of Sherborne Abbey Quinquennial repairs and minor works Heating repair Heating project Gates and railings Lighting project Fire alarm replacement Toilets - preliminary consultation Insurance contribution Return of VAT to Abbey Governance costs Independent examiner's fee Gains/(losses) on investment assets (Loss)/gain on programme related investments |
Total 2022 £ 18,625 15,190 2,103 35,918 9,657 742 10,399 24,292 24,292 15,056 4,283 (16,040) 335 592 709 82 5,017 17,250 - 249,629 - 158,479 29,137 16,547 12,000 2,700 485,742 1,920 1,920 (137,682) |
Total 2021 £ 126,622 16,269 2,240 |
|---|---|---|
| 145,131 | ||
| 6,692 - |
||
| 6,692 | ||
| 22,742 | ||
| 22,742 | ||
| 18,092 18 (15,056) 1,298 33 - 101 |
||
| 4,486 | ||
| 10,971 14,164 26,125 975 - - - 23,007 - |
||
| 75,242 | ||
| 1,286 | ||
| 1,286 | ||
| 144,700 |
This page does not form part of the statutory financial statements. Page 22