Chai'ity rebFislraiion number.. 208584 Friends of Sherborne Abbey Trustees, Report and Financial Statements for the Year Ended 31 December 2025
I I'IAIAIAIII'I Pliologiapli.v.' jo.fie Si£iige.Y.v Mill.v Phologrllphy
Friends of Sherborne Abbey Content5 (continued) Refercncc aiid Adrnijjistralkve Details Trnstees. Report 2to9 Independent ExaleS Report 10 Stateinent o1'FInaClal Activities Balanee Sheet 12 Notcs to the Financial Slateinents 13 to21
Friends of Sherborne Abbey Reference and Administrative Detoib President The Right Reverend Nicholas Holtani MA Patron5 Thc Right Rcvciind Timothy Thornton MA The Bishop of Sherborne The Right Reve1'e[ Karen Goim8ll Trustees Th¢ Rcverend Martin Lee Chdllman Mrs Alexand1 MLKenzic Churchwarden Mrs Henrietta P&ul Churchwardell Dr Chris Hamon Treasuier, secretsiy r¢presentatÉv¢ of SherbL)rne School Secretary Chainnan Commiite¢ Mr Bill McDerinott Mr Michael Keaiinge of PCC Fabiic Mrs Samaniha Hendexson Elccle(I m¢mbLr MTS Ililaiy Leavey Mr David Ferguson Canon Chai'le5 MitchEII-Iniies Elected meiiibeTr' Elected member Elected memb. Mys Jcm]ifei' Huitson Co-opl inen]bEr Charity ReEi5tratÉon Number 208584 Pylnclpal Offiee 3 Abbey C108e Shei'bori)e Dor5el DT9 3LQ lan Dodds Charlcr¢d Accouiitant Lallhaikn & FMIcis 77a Cheap Street Shei'borne Dorset DT9 3BA Independent Examiner Page I
Friends of Sherborne Abbey Tvusttes, Report The (rustees present the anllu&l report togetlier with the fittancial 8iatements of the charity for the year elided 31 December 2025. Trustees The Reverend Mailin Lee Chairma Alexandya McKenzie Churchwai'den Mrs Henrietta Pau Churchwarden Treasurer, 5ecreiaTy aiid representative ofsherboyiie Scliool Secretary ChaiTm3n Coinmittee Dr ChTiS Hamon Mr Bill McDeniiott Mr Michael Keutitkge of PCC Fabric Mr5 Samantha Hellderson Elected n]einber Elected tnetnher Mr5 Hildj'y Leavey Mr David Fer¥uson CanoLI Charles Mit¢hell-Innes Mrs Jeni)ifer HLTitson Elect¢d inembei. Elected metnber Co-opl n)einber ObJcctlYes actlvllSes ObjeLly The objects are to suppoit the upke¢p of the fabric of Sherborne Abbey. Ohjtctives, sIrleseS aclivilies The actiyjties undertaken by ihe charity durin8 the year a det&iled in the reports that follow. Fiiiidr4lsiiig di5clusuwe.f The pi'ijicipal fijnding of the chariry ai'ises fl'oin IMembeis' subgetiptions, do1110i?s, bequests, 4$ well as the Sale of publications in tlie Abbey. Publle beiiefil Tlie piirposc of thr Friends of Shuborne Abb¢y is lo bind tO8e¢hcr all those who lovc Shth'borne Abbey in theii. desire to take parl in preserving il foT POSt¢rity. The INsiees coofinii that tliey liave toinplied with th6 Irquireniejits of section 17 af tlie Charities Aet 2011 to have due regaiO to the public benefjt guidatice published by tlie Charity Comn15&sion for England ad Walr. Aehievements and performance Details of ii¢tivities undeitak¢n dllYin¥ Ili¢ ye¥r, as well a5 futur¢ plans are containeil witliin the individual I'eportg that follow. Pcige 2
Friends of Sherborne Abbey Trustees, Report (continued) CHAIRMAN'S WELCOME Caring for the tabri¢ of our beaiilifiil Abbey is boil) a great joy and a significant responsibility. The only way lo Lare fui a buildin¥ sucli as this is by cu115tanily iiispectii the buildi¥w dnd eJisUig tl)al Ipa]IS iiie tacklcd proiDPtly aiid iarried out to Ilie best vfour abilily. The fabi'ic of our magnifibcnt Abbey ¢an ollly be cared for in Ihis way throu¥lJ the gcnerosily of Ilie Friends. On reading thi% repoi1, you will nts doubt be abl¢ to sce how mu¢h woi"k has l)¢cn caiTied out in the past year. My welcome also gives me a ullique opportutii¢y to expiESS our m05t 5inLeie thanks to all who have given so geiierously towai.ds the work on the fabi'i¢ of our building. Please know that li is nev. taken for granted but deeply aypre¢iated. I hope you enjoy ira(ling this report. Please ask to be shown some of the woi'k doi)e in the past year Mnd look at whut has been achi¢ved. Witli iiiy vei'y bcst wishes and most Sliiccre thanks for all you have doiie in supporting us in the past year and all that you will Continue to do in helpiiig us witlJ your ¢nntiJiued 511pport. The Revei*iidMui'liii Lee Recloi- ol'Sliei'boF71e Ahhey '.5trf. b" PlinÉugi'llpli . Jrn%ig Sii¢i&Nes,s Mill.% Plioiogrfipliv Page 3
Friends of Sherborne Abbey Trustees, Report (continued) CLERKJS REPORT 2025 saw a fiill probyralme of evenis ov¢r th¢ WUTS¢ of ihe ye&T. MHr¢li saw the first of two siicce5sful, and popiil8r, coffee momiiigs. Whilsi ibese are not inlend¢d io b¢ fuiid i?ising. w¢ are ulways gL'atefiil lor the doiiation& to covei. the expense5 #nd always gain i)¢w members &nd make f¢w pouilds for the FriLnds' fLinds. May we held our AGM in the Abbey, which was preceded by Choi'AI Evcnsong sung by Tneinber5 of ihe Abbey Choir with Prosecco, strawbeiTies and creain lo fortify thc attende¢s. We have mer&TcJ Friends DJY and the AGM into onc Sunday evcnl and it would bc good to make more of the Friends Day portion and encourage greater meinbership froni the congyrgatiotj, After the succe%s of the 2024 tea a la Baih Putnp Room with the lovcly Heleii Coombes on the ijiano, we i'epealed tl)e event in 2025, Again il Wds veiy poplllar wilh a fortnal tea 021 proper cl)ina. 54ndwrches an(1 cake. A5 b¢fore those attending weir then eiieouyaged lo attend the girls choir evensong in the AblKy. On the b21¢k of this succes5 Wt ar¢ wJJiing Ihis a8aii) 2026. Eai'ly Septcmber, tlie Friends took a coa¢h lo visit F,xelei' Cathedral. There wa5 some fiEe lime to %hop and lun¢li, follo%'ed by 8 toui. of Ilie CailiedTal, lea iii the Refectory and Evensoi)g after wliicli w¢ returned i( ShEI"bnme. Tl)¢ nuiiibErs were iiot as good a8 oiir Wincliestcr oiitin& but it was noi)e the mucli cnjoyed by all diose who went. Our trip in 2026 is lookEng at GIoLicester or Bristol. Decernbei. saw tjie Jnilice pies and mulled wii)e recepiioji the tady Chllpel prior lo re5crved scatillg in Ihe Abb¢y for tlit Darkt]e$s lo Ligl)i Adv¢iit Carol Service. This was very well Jttcndcd aiid, as always, was a mtmoiable and aimosph¢i'ic event. These event5 would not have b¢en possible without thB support of tnembcit of the Trricnds Coun¢il and ihL 8S855t#nc¢ of Andrew Cross Ihe PaTi%h Office. Di. ChriJ Hainoii Slfrei*orne AbbcyPoiisli Oltice Page 4
Friends of Sherborne Abbey Trustees, Report (continued) CHURCHWARDENS, AND FABRIC REPORT The Abbcy Facilities Upgiude made slow progress ihrough tlie approvals proccss ai)d. to our great satisfaction, Faculty was finally issiied a wEek b¢fort Clii'istIhas. We shall convert ihe prtscnt vestiy block to toil¢ts, create a Ilew VC511'y by eiiclosing tlic arca iindcr ttie org1 lofl, improve acce5S to thc Lady Cliapel witli a wheelchair lin and in4tull a peTinan¢nt hospitality unit lli place of ilic ti"olley arrangements. The Friends have kindly pledged £IOO.000 tu the project, but uch grcaÉcr fiij)draisÉng is now requirtd. Behii)d atl impressive t¢tnporaTy enc105uir, work 8tRrled latL in Ihe yeai. on a progrdi]lllle of miicli-n¢cd¢(I mosonry cot]servalion fioin the Great West Door round to tht lliaill poich, whiGh will bonlinu¢ into 2026. The gate5 have been iEJnovcd for work8hop refuib55hmcttt and will be IEtuM¢d later in tbe spring. Francis Brown COntind his work on a Consetvatiotj Mana¥eineiit Plaii under hi5 PhD programin¢ with Exeter University. fuiided by the Fi'ieiJd5 due foi. complelson 2026. HS several Heritage Statements have made a major ¢oytribution to faculty 4ppliLat10115 111 the last couple of Ye. The CouncEI considered a proposal for a major iEnewal and upgrade of ihe sound system, where 50mc pieces of equipinenl ale failitig aiid Y¢pla¢¢in¢nts would be iJ¢ompatiblc with the basic 1980s 5ySten). The limin8 of tliis Work temaill% uncertsiD. Looking fotward, the next Quinqiiennial SIETvey i5 due In 2027, no dollbt i'aising new issiies. Mike K¢éiltiige Page 5
Friends of Sherborne Abbey Trustee5' Report (continued) MEMBERSHIP SECRETARY'S REPORT We Closed 2025 witli 308 Inembers. lai'gely ihe same as at Ilie start of11 year. At tlie end of tht ycar I irn)oved 10 Incmbers foi. noii-payment of m¢iMbersliip in 2024 and again ii) 2025, despite having had a remiiidci lelter at the start of 2025. Two ofibe5e I know are iii lo[ ¢are lioincs, aiid I suspecl Ilial Soli Of ihe uihets hdve di¢d i)r moved awayj l am Iherefore left io assume. l am a150 dwdre of oiie tstlici" Inembey who has, sadly, passed OD. On the flip sÈde we gained 10 new Jncmbers, so in actuality wc urc oiily I down on OEir 2024 nuiT)bers. Looking tit oiii. Inembership. il is disappointing that significant niimb¢i's of otir own congregation Rrc not Ineiiiberb. Wei'e it not for the fund% supplied by th¢ Fi'icnds ovcr thc years the Abbey would be in a far pooici. state of repaii.. In r¢c¢ttt yeaLS miiies have be¢n give towards litratitig, lightiii& fFre alai'ffl, masotjry repaEI%, oi'gan. west window ai)d millettniuin window to but a Éew prO1tS. We have also given £50,000 lo the toilet project with a furtlier 0,000 pledged, and as I wi'ite we are fiindiii¥ the repairs to tht west ¢iid masoniy and the west gittts and porch gates. Di. Chi'l5 Hal01 SALES REPORT 2025 was the fiT%t full yeai. tsf the Frifflids rw)ning the Abbey Shop. and it has turned oul lo be an ex¢elleiit year of sales. January and February were undeiBtandably quiet biil sale5 Iheii picked up as the year pi'ogressed. Oiii. end of year tolal was £87,552 with a tTadiiJg pi'ofil of £43,908 to add lo rhe fikE)ds of tjie Fi'iends aiid, ¢onsequeJtly, for the upkeep (If the Abbey. Sale% al'e geneially very inuch tter when we have gomeone to girct i'isili?i-s from beliind die counter aiid l aiii very indebted to the irarious helpers who gLVC 50 freely of their tijnc to coi'er Ihc sliop. It is ei)couragiiig to notc tliat, a5 1 write, all of our"51ot5" are filled and that l)elpcrs are willing to cover if ooe of their nun)bei" away. In the p¢riods wh¢ie Ilie shop is not staffed the Iionesiy ix)x and card iiiachine take over ai?d also do a 8teady trade. Despite n)y api)r¢hension I was pleascd to discover that the stocktak¢ suins larg¢ly quated 10 tlie valiie of stock sold suggesting that pilfewing, if any. was very Ininiinal. I ain frequently asked whal our best s¢llors ale, lo which the answer 15 pre¢ty miich evcyyihing in stock sells and sclls well. It is a small spaLe biit l endcavoiir to keep it well siocked witli a widc rai¥e of Ihiiigs (gviftslcai'dslbiblcslrcligious [temAbbeY meniorabilia). I ain alway8 opcn to SLigkyesiions for other lilies lo stock os I like to kccp tlie VaTiety fresh. Where possible. parlicularly with gift i¢eLXS, 1 like to source from local cornpanies and artisan workers so sf you know of 8yone who fils this profile that air iiot present do lel kjow. As always caThls are ev. popular and oui. Cliristmas cards again sold very well an<f pos8ibly bctt¢r now tbat they al'e all IDcated iii the oiie place. There is always ail elemeiit of surprise that we are sellÉng them all year aiDund but l an) constantly having to top then) up as tliey do Di. Clii'i.f Hciino Shop Miinllger Page 6
Friends of Sherborne Abbey Trustees, Report (continued) TREASURER'S REI PORT Financial revieiv The cliaiily Ye¢orded a deficit for the yeav of £25,688 (2024 . SUTplus of £20.218), lai'gely as 8 poor peJ'foi'n?ance of our inyeslmenls witli CCLA. a deficit of £34,059, cOln0 with othcr CCLA inve8tors and. like Eltem we perhaps sliould revi¢w our investnicnts. At the year )d Ilie charity lield rescrvcs of £953,020 (2024 £978,7a8}. 2025 was a year of coijtinucd invcslmenl Enlo the fabric of the Abbey altl)ough. like 2024. continlE]g on a smaller scale, Payments weiE made lowai'ds 500/0 oftlic Abbey inSilTahee, a5 we have done foi. a long tiine. Tl)is cottliUtS lo rise yeai year and was noi E]elped by thc loss of silvej. from ihe Abbey in Augu512024, The fjnal f11 y¢ar of fees lo Bx¢l¢r University foy Fr%nLiS BTOWn'S PlID/Conserv#iion manag[ect Plall prO1t were also paid. Tliis in)poi"lanl projcL'I will see lh¢ Abbcy well inlo the futtire willi regards lo PIleLl, ds il will Pvide & base on which future f&ciiltit5 can be laid dLiwn. 2U26 will see a final, much smaller. instalinent. Apwoxilliately £43.(X)O was put towaixts assoiled general fibric iEpairs which iii¢luded a I'eyl&¢¢ment wnch for the Lady Chapel chandelier the lrslorati0 of which was paid foi. by the Abbey insui'aiiLc.' it does look veiy fiiie iiow aiid it is there in the full knowledgc that it IS VCLY SeCUTe. Addition&lly safely upgi'ad&% to the winch aiid cable on the Digby Chapel pendant light weTe rnade, as oli inspection it fell shori of the r¢quii'ed level of safety for items with M'iiiches. Boili esseJ)tial bul not visiblt Its visltoTr 01 congTegalion. Moiiey was also 8p¢nt on upadlig high level i'oof sofety. esseniial for COT]IrJclors aiid vei'sers aecessiilg ronfs but equ411y inwi8Jble to the Inajority. Moi)ey was also speiit on Tequii'ed paint aimlysis of the West Gates and Poi"¢h Gates iii aiilicipalioji of the pi'oposed, now actual, repairs io the West End of the Abbey. 'fhe fiiEt iiistalinent for the West Ei)d repairs also fcll illto t]ic 2025 accounts alot]8 WÉtlTr Tr fcw iniiioi. electi'kcal works. Expendiwr¢ on ninning ihe Friends is relarively small but this could be reduced fvrilier if 411 of oiir iiiEtiib¢is WOEild eniail and consent to receiviJ)g commiinications by eniail, tliiis reducing siaiionery aiid posl&8e costs. No money was paid iowai'ds tlie Toilet Projeci iii 2025. althoii¥li £SO,000 was given as a pulp PL"ILne in 2024. AL thib Iijiie £1 rtiiilier £50,aoo was piDini&ed and Iliis will come out tsfoui. 2026 expendittiiE. 2026 will also see full payment towards the Wesl End iepairs at aE] estiJatcd cosl of £150,000, l&Jgei' Ihdi) initially atElicipated. These esseiilial repairs were prompied by a small fall of Jn&8oDiy fi'oin Ili¢ side of the porch parapet a2]d it was feli il inddL s¢ns¢ to do rLPJllb to th¢ gates at lh¢ 5aine titne a5 the removal of th¢ rrf)r¢h gares (and re-iDStalldtionl reqiiircs stoncn]a%ons. It)com¢ ovei" thc last 12 months was largcly madc up of Inte81 fron) illvestments and a healihy profit from the shop. MembershÉp is a nioder*)te but iiot]e the less imi)ortant conrribution. Legacies w61'e p8rticulaYly down but thege ait depEndertt on IhB generogity of oui. ixtmbeTS leaving legacie5 Ill tlieir wills. The ii)come from these is unpredictable but are alw&y5 a lovely suiprise eveii in the saddest of circun)slattces. Comniitted expendittire this year is iii the region of £206,OUO (£130,000 for .qtonework, £50.O¢M) for Toilets, £9,000 foi. Fiai)¢i8' fees, £17,000 towards ii)sui'ai)ce. Iii addition the CO¢71 aT¢ exploi'iiig giving moitey taward% Ihc T¢plaG¥ii)ent ot the ailing and agetng n)ILruphoDe and 5peakcr systein, for wliicli a fa¢ulty is lIdeaY and quote5 liavc been received. Like all things this is Jiot clieap and we ai"e IoDkin8 at 11 Sum of £120,000 biit, if it has the longevity as the existing systein. it will see lis through anothei. 40 years. Whilst this is a lai'ge slim tliei'e TS tlTre PDS5ibilily of match fiithding. wbieli coiild rediice oiir expendittire by as miieh ag 5QO/.. All of Iliis will rcduce oui. gssels, yct siill allow us lo InJiii¢&iii li siibslatkii81 war cbc51 foT big einergen¢ies and keepillg oul. cyes low#rds futuit projected I0[repairS. biit we niiist balance in¢on)e fiDin ass¢t5 over 0r Faison d'eli'e, wliicli is for Ihe iipkeep aijd enhanceineiil of oiii. bLauliful Abbey. All oftl)is in addilion 10 the piDvision tsf ioilets givLS for ali exciting bul busy year ahead. Di. C11ri5 Haiiioii TiYasiirei- Pagc 7
Friends of Sherborne Abbey Trustees, Report (continued) Pollty t>fv iserpes Rcserves are critical to Ilie Fiiends financial position, and provide.. al WorkiEIK L#piral to support ongoing 0.Li0S and activitle5 (xiipplieLS need io be paid on llllle) alld to liollour grant COnitMents bl At least 12 MothS expenditUTe. to proyidc continuity in uehÉcving charitsble activities as laid down in Qui Constitution c) Future replaccrnent of goods and equipment rtrces5ary in oui. opcyation Working capital is lo be held as cash, 2nd items b) and c) to bc held iii the forin of long term investtntnts (with d ten year time hoi'izon) iii our ive81ct portfolio. Responsibility for iinplEmeiilinE this policy t4 with the Exe¢uliY¢ Conimittee of the Friend% charity cind thall b¢ r¢vi¢wed every tliire yeais, to ensuie it is fit foL purpose and that we aiE not settinbv aside too inucli or too Structure? Eovernanee and mangement Jydiure ofgoveiiiiig do¢lileI Th¢ bhai'ity was fouiided at a ineeting lield on 24 May 1930, at which the coiistihition was cirated. Tliis documeiit lia8 siiice been amended ai meetings oti 19 July 1983, 1 l May 20(H and 9 May 2005, Reeyuiiiiieiii ftndupptsiiiliijenf of ij'iislees TTuslees ale nomiiiated and siibsc4uciiily elected al Ihe Annual Geiieral Meeling, in acLoidaJice wilh ihe consliliilion. Trustees hold offiec foi" a pcri(Kf of fiv¢ yeai's. aIler which they Arr eltgtblc foi. i'e-eleL'Ilo. Objecllves dmdpolicies TlTre CounGII of Ilie Fi'iciid8 have considcird thc major risks to wliicli the cliaTjIy Is exposcd11)olh fEnallcial alld non-fiiiancial risks) the trustees conlinn ihat the major risks to which ihe charity is exposed. as ideniilied by tlie Irusl¢e8, have been Keviewed and sy51ems have been e5tablis]ied to Enitigate those Tisks. Statement ofTrustee5' Re5PORsibilitie5 The li'llsiees are responsible toi. preparing the irusiees, repoil and Ilie fEnatt¢ial siateanenls ill aLcordHnce with the UTritcd Kiiigdoln Accoyniing Standards (Ulted Killgdoill Generally ALLepted Accountill¥ Piactice) and applicable law and regulations. The law applicable to clJurities iwuites tbe Iriisl¢e$ to prepare financial statemenls for eacl) financial yeai. whicli givL a irue and lair view of tlie stdlL of affairs of the chaiity Dd of (he Encon]in¥ rc5011rces and appbcals011 of lEsolC¢S oftlie Gharity foi. that p¢riod. In pirp81.ing Ih¢s¢ finaiicial stht¢m¢nls, th¢ Irusl¢¢s air requiird 10: seleei suitable accouniiiig policies &iid Èlign apply them coJi$i5tcntly' obs¢i've the n)ethod8 and principles iii the Chaiities SORP,. make jLid¥tJnei)ts ajid estimates that Lire TeAsOabl¢ aiid pnidtnt,. state whethei. applicablc accounling st8ndgr(fs ljave been followed. subject to any material ijeparturcs disLlosed and explained in the fnanCI1 staletnents., and pa'epdl"¥ tl)¢ fiiuiJLial statemeti15 Oll the goiii¥ basis unless it is Èn8PPEOPI'iate io presujne thal tlie clia[ty will continue iti business. Pag6 8
Friends of Sherborne Abbey Tru5tees' Reporl {continued) The In)slees are respoi)sible for keeping proper accounling recDTds tli&t disclose with Irasonable acciii'acy al ai)y lin)¢ tl)e fiIian¢ial positioi) of ihe cliarity and enable thern lo ensiire il)ai Ili¢ fii)an¢ial siaten)enis Comply ivitli the Charilae5 Act 2011, the Charitrcs (ACc1n15 aiid REPOI'IS) Regulations 20U8, and thc provisioiis of the ¢on8tittLtton. TIJC IrustCC8 are al80 rcsponsible for 5afcguaiding thc a*8Ctq of th¢ Cliarity al hence for taking ieasot)able sieps lor tlie pi-evention aiid dete¢¢ioii offralid artd odier i¥iEgulariiies. TIFe t1115t¢¢s are respi)nsEble for the mairttenanee 2nd integrity ot. the ¢ory)orale and financial illfoTmati(m included on lh¢ charitable Colhpany's website. Legiylation governiiig the prcpaixtion and disgerninatioi) of financial slaternenls may diftei. from legÈ8lation in oilier jurisdictions_ The annual iEpoil was appix>vcd by Ihe li'ustees of U)e charily on. 8ibpThed on it8 b¢half by.. DI. c.1$tophel. Hamon TiteL Page 9
Friend5 of Sherborne Abbey Independent Examiner's Report to the trustees of Friends of Sherborne Abbey I report to tlie trustees ort illy eXa1jnatIOn of the accou1$ of Friends of Sherborne Abbey for t1 year ei)ded 31 Decen)ber 2025. Responsibllitie5 aiid basis of report As the chariiy twslees of Fi'iends of Sherborii¢ AbbEy you are respoa]sible foi" the prepaiation of ihe accounts in a01'daLe Wltli the requireinents of th¢ Charities A¢1 2011 ('tbe Act,). I report in respect of iY ExaTJJiniltion of the Frieiids of ShtrboiTe Abbey's accounts ¢81¢d out nder section 145 of the 2011 Act aiid iii cariyin¥ out my examination I have followed all the appli¢abl¢ DiiE¢tions given by the Cha¥ity Commission under se£rion 145{5)Ibl of the Act. Independent examlner's 5tgtement I havti Lon)pl¢led tny exainination. I COEJfimi Ihal tso material mailers have cole 10 my atleiition in connecuon with die exaEninaiion giving ine ¢au$e to belicve that in aiiy iwiteri81 rcspLcl'. accounting ir£ords were not k¢pt in respect of Friends of Sherborne Abbey 8s requiird by sectioji 130 of Ilit Act; OT 2. the accounts do not accord with those Ye¢ords.' ol 3. the a¢¢ounts do not coniply wilh thc aLCOUllt&rtg irquiitmettts cortcciming Ilic furm and contettl of ALLUUlIts set out in thc Chji'itics (Accoiiiits atr)d Rcpoils) Regulation8 2008 other than any i'cquiremcjit tliat the acci)uJit8 give a 'tt'lle and fail. view, whi¢h is not a matter considered as part of an iiidependenl examination. I Ikave no coi)ceins and have ¢oin¢ acrvss llo othei. matters in LoJ]neclion with ihe exaininalioE] lo wh]'cli atl¢ntion ¥hould bc di'awii ill this report in ordcr to eL)able a prop¢1 undeiElaThdii)g of the accoiiiils lo b¢ r¢ached. lJn Dodds Chartcied Accountsnt L&nham & Frattcis 77a Che8p Stscct Sherborne Dorset DT9 3BA Date-. Page 10
Friends of Shei'borne Abbey Statetnent of Finan¢ial Activities for the Year Ended 31 December 2025 Unrestrlcted funds Total 2025 Total 2024 Not Incorne and EndowtneSLts from: Donaliong dE]d legacies Cl)aritable activities Oth¢i' tradi118 8LlÈwitits It)vutmet)t income 22,910 6.750 89,054 24.347 22,910 6,750 89,054 24,347 64,272 6,445 41,659 26,415 Totsl income 143.061 143,061 138.791 Expenditure on: R2ising flltmjs Charilablv dcliviiies Othe¥ expendilure 143,6441 190,9141 11321 143.fA4) I.914) {132 122,181) 1113,386) (2,249) Total expendituir Gai1{[055¢5) on investtnent a55¢ts (134,6901 (34,059) (134,6901 (34,059 (137,8161 19,243 Net {expendiÈiirellin¢oine 125,6881 (25,6881 20.218 Nct Tnovenient in funds (25.688) (25,6881 20.218 Kecon¢ili8tFoii of fllnds Total fi%i)ds brought foThvai"d 978,708 978,7U8 958,490 Total lidS carried fornrd 953,020 953,020 978,708 All of the cliarity's activities derive from ¢ontinuing opeiations during the above two pei'iods. The funds breakdowi for 2024 ss shown in nol¢ 18. The notes oi) pages 13 to 21 form an inleyal part of these finaiicial slalemetils. Page I I
Friends of Sherborne Abbey (Regi51ration number: 208584) Balance Sheet as at 31 December 2025 21125 2024 r4ot¢ Flxcd asset$ Inve51rneE]ts 13 737,009 871.068 Current asset5 Stocks Debtors Cash at bank itt hand 14 45,971 1.828 170,612 31,050 8,472 95,921 16 218,411 135,443 Credltors: Amtsunt$ f#lllnE due wlthln one year 2,400 (27.80q) Ne¢ cuyrenl 4sset5 216,011 107,640 Net assets 953,020 978,708 Funds of the eharitv: Unrestrl¢led Income fi%Dds unStriCtl.d funds 953,020 978.708 Total fuDd5 953,020 978.708 The fitLanciJl statcancnLs on pages I I to 21 weir approved by the truslees, and authorÉs¢d foi. issue o .1,(iLl1]d signed oji theii. behalf by.. th. C.hrisloph¢r Hainvi) Trusiee Revel Tnistec Id Martin Paul Lee The note5 ots pag6s 13 10 21 forin an iiitegial pail of these fIn1claI statemenis. Pagc 12
Frlends of Sherborne Abbey Notes to the Financial Stitements lor the Year Ended 31 December 2025 l Accoiintfing policies Statement of eompliante The financial statements hav¢ been prepared ill accordance with the second edition of tli¢ Charities Statement of Recommended Praclice issucd in Octobei. 2019, the Finai)cÉal ReportÉng Siandai'd applicable in the Ullilcd Kiiigdom Republic of Ireland (FRS 102) Jnd Ihe charit¢$ Act 2011. BA5is of preparation Fiiei)d8 of Slierbome Abbey meets the definitioii of a piiblie benefjt eniily ldel. FRS 102. The accout]Is (fjnancial Sl&ten)611ts1 have beeli pr¢paivd iind¥i' Ihe l)isto¥i¢al Cost col1ventOll witl) iteAiiS recognised at ci)st nr ITansaLliou value unless oiherwsse s181ed in tlie rL.levant lloie(s) tu the accoiints.. Golng roncern Tlie trustees congider that there awe no nlerial utic¢rraintie8 aboiil the cbarity's abiliiy to cot)tinue as a going Income And endowments Voliinlary inco]ne ijicluding dollalions, ¥ifts, Ic¥acic% 8nd gTan15 Ihal provide core fiindiiig or are of a ener1 nature is r¢Lognised when the charity has eiititlejnelll to ihc iiicotne. il is probabl¢ thai the iDconie will be received and lh¢ arnot can be measured with suffIcient lIabilIty. Doiidtions legNiie.F Donations and lega¢ics are iEcognis¢d on a re¢eiv¢ible b¥sis when rebeipt is probabl¢ and the &mouTht cati bc rcliably ineasiired. Dividends ar¢ ffcognised ontc the dividend has bettn de¢laLed and notification has been ir¢eived olthc dividelld due. Expendlture All expendituic ].% recognised once t]i¢re is a legal or eonsts'u¢tivc obligation to that expenditure, il is prob&ble 5ertlcmenl is rEquiied ai)d the amouiii c&n be measuird Irliably. All Costs Jre allocated lo ihe applicable cxi?cndituir htading that aggiEgate similar costs 10 that category. Wh¢i"e costs cannot be diiEctly attrIbted to pa11icular hcadijigs they havc btell dllocated a basi8 COllSlStcnt with Ihc use of i"esouiEcs, with ¢eiihal staff costs alloeated on the basis of tinic 8PCI)t, ajid depreciation charges allo¢*ted on the portion of the asset's use. Other support Cogts 2re allocated bJyed on the spread of staff ¢05t5. These al'e costs iiicui.red in ath'actEng voluntary in¢omq the manageinent of iDvestmei?ts and those Encurred itt trading activities that i?tse funds. Cliftrituble ftclivilies Charitable expendituit conjprises those costs incurird by Ihe charity in the delivery of ils Èctivitie5 and servi¢c$ foi. its beneficiarthes. It iijcludes buili ¢()slS that c&n be allocated directly to such &ctivilies and those Costs of an indirect nature tjecessary to support them. Gi'iiitlpyovisioiis PIDvisioii$ for giants are Inade when tl)¢ Inl¢iFlion to make a grant lias been coinmunicated to tli¢ IlPIcnI biit tIILre is ui)¢ertainty abolit eiih¢r the timiiig of the grani ar the aniount of ant payable. Pag¢ 13
Friends of Sherborne Abbey Notes to the Fillaneial Statements for the Year Ended 31 December 2025 (contRnlled) Covernance costs Tliese include the costs aiiribiiiable to the ¢hariry's con)pliance wilh constiNtional and s¢aruiory requiemenis, including audit, slrdlegic m2nagemenl and trustees, meetings Jnd reiinbiirsed expenses. Tax8tlon The Chai'ity is ¢onsidered to pass tli¢ tests s¢t oiit in Parakbraph I S¢hedul¢ 6 of the Fiiiance Act 2010 and tlierefore Ét nieets Ihe defmiiion ol a cliarilable company for UK corpoi3lioii tax purposes. Accor¢Jingly, Ihe charily is poleiitially exejnpt from taxation in respect of ii)coine or capital gains ieceived within calegTOI'ies cov¢red by Chapr¢K 3 Part I l of Ilie Corpoi'alion Tax A¢t 2010 or SLLtion 256 of the Taxation of Cliai¥eable Gaiits ALI 1992, 10 the exteJ)t Ilial siiGh incomr or gaijis aTf applied eArlusively lo clkiTit(Ible p[poSe5. Faxed asset ittv&tments Fixed asset invc5tsn¢nts, otl)eL' tIMn PiDgiamiiie related iiiir¢sttn¢nts, ai'¢ iiiLlud¢d at InaL'kLI valuc &t Ili¢ bal#ncc sheet dale. Reali%ed gains alld IossLS oll illveslmcnls aLe L&lculalcd as the differcncL bctwccn salc proceeds and their MHI"kcl valiie ol tlie slarl of IhL' ytrar, or iheir subseqiienl cosl, and arE chargLa or Litdilcd thr Slatrmcnl of Finajicial Aclivitics in thc period of disposal. UnirRlised gain5 an(J losses rcpreseni th¢ moveineiit in market values dui'ing tlie year and &rc Greditcd or charged to the Siateiiient of Fii)ancial Activities based oi) tlie market value at the year eiid. Stoek Stock is valiied 8t the lower of cost ¢5timilted selling piicc le5S COSt5 to fOTnplete and sell, after diie regard foi. obsolete 81)d slow moving 8tocks. Cugt 15 determined using the fir5t-in. fir$t-oiit {FIFO) method. Cash and cash equlvalLnts Cash alld cash equivalents compi"i5e cash on hand and call dep05ils, and other short-teiin highly liquid invest¥Trents that aiE IEadily CDnvcrtible to a knowji ainount of cash and aiE subject to an iii%igniifiEa]It trisk of change in value. und $tru¢turc Uiii-e51¥TCted IRc(Ime funtls 8Ye general fuÈids that are available foi. use at the trusteeb. disrie¢s01i in fuTth¢rance of the objectives of the chaErity. FiDanelal InstruentS FilncIal assets and financial liabilitiEs are recognised wlien the charity becomes a paty to tlie conli?ctual pi'ovisioiis of tlie Ensthvm¢Jil. FinanLial liabilities and equity it)strnments are eiassified accordit)g to the 8ubslatkce of ihe coi)tra¢tual aiTangemeiits eiitered Trllto. Ali eqiiity it)9tiument is aiiy ¢oliti¢t that ¢vidence5 a rcsidual inteTest itk Ilie asset5 of the ¢l)arity after deducting all of its liabilitics. Page 14
Friends of Sherborne Abbey Notes to the Financial Statements for the Year Ended 31 December 2025 (continued) All faClaI assets liabilities are nItiallY ineasLir¢d at lixiJsa¢lioii pri¢e (including Iransa¢tion costs). except for IhosL finaiiui#l assBls clHssified as 01 fair valii¢ thToiigli PiDfit or loss, whicli 8re iiiitially nieasiiird at fair valLl¢ Iwbickn 15 noiu]ally the Iran5actioll priLe exL1udi, li?llsaclion costs), unle58 th¢ ari?iigeiiient Lonslitut¢s a riimncing ti'aiisaclion. If arrangeinent coiistitutes & fanCing trantIOn, IIIE Iin4incial assEt or financial liability is meAsurEd ttt the ptLscnt value of th¢ future paytnents discounted at a mai'ket 12te of intercst for similai debi inshiijnellt. Fiilancial ayseis and liabilities are only offset the 8talement of fin8n¢ial position whet], and only when, thel'e exists a Itgally enfo&'ce8ble rght to set off the recogiiised am0t$ 2nd the chaiity inieiids either to settle on net basis, or lo I'ealise the asset &i)d settle tl)e liability simultaneous5y. Finaticial asscls al'e dei'ecopJ?i8cd when, and oiily wlien, ol the ctsnlrattual rights to the cash flows fr0]n the rll]anei&l asset expire Dr are s'ettle(L b) the cliarity ts'aiisfers lo aiiothci. paity substanliglly all of the risks aiid LEwai'ds of ownership of tlie flnancial asset, or c) the Charity, de8Plte having retained some, but not èll. significant risks and relrdS of owncrsliip, has transfei.red ¢ontiol of tl)¢ asset to anotlier p8rty. Financial liabilities al'e derecognised only when Ilie obligation specified in the contract 15 discharged, cancelled or cxpii'e5. F1 vulue wiedsuieineml Tlie l)e8t cvidcjicc of fBir value is a quol¢d price lor an id¢nti¢al 8sset in an Mctive mHrkel. Wlien qiioled prices arc ullavuitable. the price of & reLent Irnnsaclion for l) ideiiliLal £tS5et pi'ovides cvidcnce of fair vallle as 48 Ihere has iiot bLen d signifkCdt)t change in economic Lircumstdiices or a siginificani lapse of li¢ sinee thc traiisaction IoDk plaL¢. If thc n)#rkcl ib noi a¢livc &nLI recetEt tr4insactiOll5 of an idenlical asset on tliell OWII not a good esliinate of fatr valuo, the faiT value its cstimated by using a valiution te¢hniqts¢. Z Incume fro don&tlon$ lega¢i¢s UnYcstrl¢tcil (uDd5 GenerAI Total 2025 DollalÈOS and legacies. Siibscriptions and donations Le¥aciets CJift aid r¢¢laimed 12,856 7.973 2,081 12,856 7,973 2.081 22,910 22.910 UArestricted flld$ Geneyil Total 2024 Donations and lega¢ies' Sub5CI'iPtiolls alld donatlOll5 Legaeies Gift aid reclaimed 12.077 50,168 2.027 12,077 50,168 2,027 64,272 64,272 P&ge 15
Friends of Sherborne Abbey Note5 to the Financial Statements for the Year Ended 31 December 2025 (continued} 3 Income ¢h4rttable aetlvltie8 Unre5trlcted Total 2025 General Recovery of VAT 6,750 6.750 Unrestrlctcd fund5 General Total 2024 Recovery ofVAT 6.445 6,445 4 Income fi'om other trading 8¢tivitie$ Unrestrlcted runds General Total 2025 Trading incorne-, Sales ofpubli¢alions Events illcome,. Odier events inconie Othei. income fron) othcr trdding activities 87.552 87,552 805 697 805 697 89,054 89,054 Unreslrlcted fund5 General Total 2024 Tradiiig incorrke: Sales ofpublications Eveu15 1comE. other evonts income 4fl,972 40,972 687 687 41,659 41,659 Pagc 16
Friends of Sherborne Abbey IYot¢s to the Financial Statements for the Year Ended 31 December 2025 (continued) S Investment incoine Unrestricted fund$ General Total 2025 teTeSt receivable and similar iTrcotne', lthterest receivable on bank deposits Otber income fi1 fixed asset it]Y¢51menl5 2,036 22,311 2.03C) 22.311 24,347 24,347 UThre5tricted lund5 Ceneral 2024 Interesl receivable and similay income- Intei'est receivable OLI bank dewsiis Othei. incom¢ from ftted asset investsnenls 2,704 23,711 2.704 23,711 26,415 26.415 6 ExpeThditure on rglslng funds a) Cosls of trading g£tiVI¢S Unrestricted funds General Totgl 2025 Costs of goods sold 41,869 41.869 41,869 41.869 UnreBtricted fund5 General Tof&l 2024 Costs of goods sold 20,910 20,910 20,910 20.910 b) Other Costs of generlting donatlons *nd legaties Unrestricted lund5 General Totgl 2025 Other dire¢t ¢osts 1,775 1,775 Page 17
Friends of Sherborne Abbey Notes to the Financial Statements for the Year Ended 31 December 2025 (eontinued) Unrestrieted fuiids GeD¢rnl Tota 2024 Other dir¢¢t Costs 1.271 1,271 7 Expendlture charitable #¢tivitlos Unrestrl¢te runds Cenei'al Total 2025 Notc Gvdnt funding of activifie5 Governan¢e ¢o%ts 88,474 2,440 88,474 2,440 90,9L4 Ullresti'icted funds General Tot&1 21124 Note Grani fuiidinx of activi1s& Governance costs 110.966 2,420 I lQ,966 2.420 113,38C? 113,386 8 Other expendÈture Unrestrlcted tulld5 Geftei'll Total 2025 Other resources expejided 132 132 132 132 Unrestrleted funds Gtneral Total 2024 Notc Oth¢i' iistsuY¢es expei)d¢d 2.249 2,249 2,249 2,249 Pag¢ 18
FrEends of Sherborne Abbey Notes to the Financial Statements for the Year Ended 31 Deeember 2025 (continued) 9 Analysls of governance and support e05f5 Governance costs UThi'e5tricted funds Gener#1 Totfil funds Itidependent exarniE]ei's fce Examination of the financial statem¢iits 2,440 2,440 Total for 2025 2,440 2,440 Total for 2024 2,420 2,420 10 Trustees, remuneratlon and expense8 No trL]Stees. nor any pcr50ns connccted with ihem. have irceived any remrllieration from the charity diiiiiig th¢ year. One Iruslee was reimbiirsed £892 foi. direct postage. stationery purchase cosls incued in conneclioj) with the chaiity. but no truste¢s b8ve been i'¢imburs¢d for any oth¢r expenses or received any betsefits froin the chakity during tl)e yeai.. 11 Indeptndent exhmlner's remuner8tlon 2025 2024 Examination of the fjnancial statcmenl 2,440 2,420 12 TaxatloR The charity is a registered charity and is Iherefoir excmpt from taxallon. Page 19
Friend5 of Sherborne Abbey Notes to the Financial Statements for the Year Ended 31 December 2025 (continued) 13 Fixed asset inve5tmeatS Other investment Liyted inve5tment5 Tot#1 Cost or Valuthtio At l Jaiiuary 2025 Revaluaiioii Dispos&ls 871,068 (37,052) (97,007) 871.068 (37,052) (97,007) At 31 DeeenibeT 2025 737,009 737,009 Nct l)ook value At 31 December 2025 737,009 737,009 At 31 Deceniber 2024 871,068 871.068 14 Stock 2025 2024 Siocks 45,971 31,050 15 DebtOY8 2025 2024 Other debtors 1,828 8,472 16 CY45h And cash equivalcthts 202S 2014 Cash on halld Cash at batsk 75 170,537 138 95,783 170,612 95,921 Page 20
Friends of Sherborne Abbey Notes to the Financial Statements for the Year Ended 31 December 2025 (continued) 17 Credltoi's: amounts falllng due withln one yeAr 2025 2024 Othei. creditois Accrnals 25,503 2,300 2,400 2,400 27.803 18 FUd5 Other recognised gainsl{IDSse51 Balance at 31 December 2025 Balance at I J&tLUai'y 2025 Incnmillg resource5 Resourfes expended Unrestricttd funds General 978,708 143,061 134,69U} (34,059) 953.020 Other retoEni5ed gainslllosses} BAknnet af 31 December 2024 Balance at I Janu81'y 2024 Incoming esources Resources expended Urttestrlcted tunds Genero1 958,490 138,791 (137,816) 19,243 978,708 19 Analy515 of net as5et5 between fund8 Uorestrleted Total funds at fuAds 31 Deceniber General 2025 Fixed asset ÉnvestFTrent5 Ciirr¢nt assels Curitnt Ikabilities 737,009 218,411 (2,400) 737,009 218.411 2.400) Total net a55ets 953,020 953,020 Uni'tStrlettd Total funds at fuiids 31 De¢ember GenevAI 2024 Fixed asset investments Current assets Current liabiSilie5 871,068 135,443 127,8031 871,068 135,443 27.803} Total net assets 978,708 978,708 P4¥e21
Friends of Sherborne Abbry Detailed Statement of Financial Activities for the Year Ended 31 December 2025 Totsl 2112S Total 2024 Iiicomc gnd Endoivm¢tLt5 fi'um: Donations (In(J legacies lanalysed below) Cliaritable activities (attaly%Ed below} Other trddin¥ activities (analysed below) Inv&1tent income lanalysed below} 22,910 6.750 89,054 24,347 64.272 6,445 41.659 26,415 Total income 143,061 138.79l Expvndilure on: Rai8ing fvnds lanaly5cd below) Charitable aclivilies lanaly5ed below) Other expenditure lanaly5ed below) Governance costs (43,C)441 (88,474) (132) 2,440 122,1811 (110,9661 (2.249) (2,4201 Total expeJ)diture Gain.(10S8es) on investm6LIt asset5 {aKalystd below) Net (expendiwre)lincuiMe (134,6901 34,0591 (137,816) 19,243 (25.688) 20,218 Net iiiovem¢nt in funds (25.688) 20,218 ReconclllatSon of fund$ Total fuiids biDughi forwdrd 978,708 958.490 Total funds carried fojivai'd 953,020 978,708 This page doe8 È)ot forn? part of tlie statutory fjnancial xtatements. Page 22
Friends of Sherborne Abbey Detailed Statement of Financial Activities for the Year Ended 31 December 2025 (contiThued} Total 2025 Total 2024 Doiiiiliviis legacie. Legacies and bcqiicst5 Subscriplions and donations Gift Aid rax re¢laimed 7,973 12,856 2,081 50.168 12,077 2,027 22,910 64,272 Charit¢bl& &clivEiles VAT I'ecoveird 6,750 6,445 6,750 6,445 Oflier Irodiiig uLlivilies Sales of piu'chased goods Exctcr h.ip (2024 Wincbester) Other 87.552 805 697 40,972 687 89,054 41,659 IIivcsimeKi iiictsnie Incomc from listed investments Itely$1 oil cagh deposits 22.311 2,036 23,711 2,704 24,347 26.415 R•i.¥iN¥.fiiiid.¥ Opeuillg Stock Pur¢has¢s Dii"¢ct costs Closing stock Sundiy expenses B&nk charge CIEdit cai'd ClTge5 31,050 56,356 434 (45,971) 495 60 1,220 15.318 36,642 131.050) 60 43.644 22,181 Cliftrlrttble tscrtwtles- Upkeep ofslierboriieAbbey Quinquennial i'epaiis and minor works Hcattjig proj¢ct Lightiiig piN)ject Toilets- preliminary consiiltatio lJhsiiLanLe contribution Returo of VAT to Abbey Grants payable- institutiQn5 rL?ncis exhibition 43,048 20,781 (1.6411 2,832 51.263 15,196 1.835 20,700 17,436 6.445 20,700 957 88,474 110.9( Tlii5 page does Jlot foiTh pait of the stottltory finaiicial stateinents. Pag¢ 23
Friends of Sherborne Abbey Detailed Statement of Financial ActRvitie5 for the Year Ended 31 December 2025 (continued) Total 2025 Total 21124 Gtsvernttnce Losl.s Ind¢pendent cxaminees fee 2,440 2,420 2.440 2,420 Oiheraypeiidiiiire Exeter Éi'ip (2024 Wiiichesler) 32 2.249 132 2,249 GfiIH.ItssS¢5) inves1le)ll ILossll¥aill on revdlualion of investments Gainllloss) on disposal of investments 37,052 12.993) 34,059 {19.2431 119,2431 This page does not foiJn part of ihe sratutory fjiianEial statements. Page 24