Reg15tered Charity Number. 211236 Report of theTFUStè*5and unaded Financial Siatementsforthèyear Ended 31 De¢ember2023 Frfendsof TewkesburyAbbey
FRIENDS OFTEWKESBURY ABBEY REPORT AND FINANCIAL STATEMENTS Forthe yeaiended 31st December 2023 CONTENrs Page Legal ano AdrninistratNe Iriformation... Report of theTrustees........... ......... ............... .... ... ......... .. 24 Independeni Examiners, Repon................................................... Statementof FinancialActiM"ties............................................... Balance Sheet..................... ................. ......................... Notesto the Financialstaternents............................................. 8-15
FRIENDS OFTEWKESBURY ABBEY LEGAL ANDADMINISTRATIVE INFORMATION President.. Wiee-Presidents.- The Bishop of Gloucesier The Lord Lieutenant olGloucestershire The Bishop ofTewkesbury TheArchdeacon of Gloucesrer TheArchdeacon ol Cheltsnham Mr G L Finch Dr Iwhite Mrs Scoulton Mrsl Raywood (resigned 2nd July20231 Mrsj Small Iresigneo 2nd JuLy20231 The Rev C EWThiineylresigned 2nd luly20231 Mr S C Evans Mr R Bellairs Mr D Bagieyletected 2ndJuLy20231 Mr5 L Parsons Mrs S Lancelot Mr H Sweet Chairman.. Vice Chairman- Council 2020-2023: Council 2021-2024.. Council 2022-2025= DrACfowther Mi N Bennett Mrs M Beagiey1e*ed 2nd Juty20231 Mrs S Ctsulton Ms K Feighan Mr G Hill The Wicar olTewkesbury-The Rcan0n Nick Davies lappointeij Septèrnber20231 Mrs N Oakes Mr P Charman (elected 2ndJuly20231 Mrsj Davis (resigned 2ndJuly20231 Mrs H Echarman (appointed 2nd July20231 Drj Lancelot Council 2023-2026: E¥-Ofhclo.' The churChrdenS.. P.C.CRepresentattve5.- Friends Table andcard Secretary.. OraryTreasurer Mrs J Small Mi N BennetL 6 Stoke Parkcourt, Bishops Cleeve. Glouceslershire. GL52 8US Mrs K E WincenL Abbeyoffice. Chuich Street. Tewkesbury Gloucesiershtrre, GL20 5RZ Lloyds TSB Bank plc High Slieel, Tewkest>ury. fjLouce5tershire GL20 SAW MA G Bull BSC FCA BPC Partner5 rnited. Chanered Accoun13nlS 3 Royalcrescent. Chellenham, Gloucesiershire GLSO 3DA Secreta Banker5.- InclependentExaminer The Frien(Js ofTewkesburyAbbey is iegisterEdwtth the Charrtycommission vnderthe Chèrrtynumber211236. The principaloffice ot the Ch3rity is atTheAbbeyOffice.TewkesburyAbbey, Tewkesbury, Gloucestershiie. The Charity's Trusiees comprise ihe Member5 olthe Councilwho are "StedtIlthls report. The narnes and addres5esaf the HonoraryTreasurer. Secretary. Bankers and Independent ExaMInera also included. -Pagel-
FWENDS OFTEWKESBURY ABBEY REPORT OFTHE TRUSTEES The membe Dfthe Council as Trustees presenttheir¥eportwth the financialsiatements of the charity fortheyear ended 31 December 2023. TheTruste25 have adopredihe provisions ofAccounting and Reporting bycharilies." Statement of Recornmended Practice applicable 10 chanties preparinetheiraccounts in accordance wth the FinancialReporting Ststmlard appb"cable in ihe UK and RepUbC of Irend IFRS 1021 leftecfive l January 20151. Objectives and activitles Objectives and aims The Friends, main purpose is to asS15ttheAbbey3s set orjt in the constttubon. The CouncTrl receives recommendaiions and information aboutthe needs of Ihe Abbeylrom the PaTIKhial Church Ctsuncil, which has the prime responsibiutyto maintsinthe Abbey. TheAbbevis in con51ant need of care. tnaintenance and reDairand. in vEwof its size and a%e. some of Ihese demands are likelyto be unpredietable in rheiYtsmir*gand suban81 intheii content. The Friends. assets are available to be spentfor the purposes ol the Friendswtth the re5trictiolls rhai rhe capital endowment funds are required lo be inve5tedto produce incomeand Ihe restricted funds must be used lor the purposes specified bythe donoF5. The Councilcontinues its polieyof maintainingincome and re5èrvestofulfil tts purpose ro asslstthe Abbey, having reE3rd to Ihe obligations that It may be asked to a55ume. The unrestricted funds at 31 Decembei 2023 lotalled £457.754which Included two desiRnaied funds.. a maintenance iesetve of £200,000. and a designated fund torfuiuTegranlsof £261,1)00.Also tncluded is a generalfvnd deficit ot l E3,2461. The Trustees have réferred to thèguidance conEained in the CharrtyCDrnrnission's generaiguidance on gublic benefit when reviewinalhe Chariws aims and obiectNes and in DLanninAIuEuFe a¢ttles. In Darticutsr. Ihe Trustees consider how olanned actmiies will contribute tothe aims and obieciives the¥ have set_ Athlevement and perfoimanGe Charitable activibes £90,519was paid in grants duiin%theyear. which included .519toWard repairsiothe officewindows. £75.DOOlorthE maintenance of thefabric of IheAbbEV. and £S.000 fortheTower Inspection. In Oclober2019The Friends launched anADDealto rTtarkthe 900Eh Anniversarv oflhe consecration of the Abbeyin 2021. The iareet is 2202.100 to supporta proiectto reorderthewesl End of the Abbey so as to provide a more open, "£hi and w&lcorninK entrance. Al 31st December 2Q23 £1,06? had been raised. Financlal retW Investmenl poiicyand objecttves The Charitys InveStmentPo"tY isto produce a revenue incometosupplementintome from ersourCeS in orderto sat15fvthe averaRe annual reouEstforGrknts. This I11 be achieved wth the rninimum of nskto the assets of the Charitvai the same lime endeavouiinRto rnaintain Ihe realvalue of its caDital. -Page2-
FRIENDS OFTEWKESBURY ABBEY REPORTOFTHETRUSTEESIContr"nuedl Reserves policy The level of Ineome15ncLuding beouest5 and Le2acJesl Cewed bvthe F¥iends can aThJ does varvfromyear to vear. Similariv. the level of Grants made bvThe Friends iOW3Tdsthe UDkeeD olthe Abbev can also va wilelv. panicuLariv In a period of maior renovation.vJhich can last UD to 5ve3rs. To ensure that sufficient funds are èvailable. sothatthe Friends can make maiorcontribubonstothe Pcctowards maintenance and improvement of the Abbey. a Reserve is maintained at not less than £200,000. The"Reserves Pob"¢v' re¥Aeweil on an ènnualba515. Unrestrlcted Income The unrestncte¢ income lor 2023totalled £46.32112022 E54.8871 whleh included bequests and lekacies amounttnR to £1,50012022 £8,5151_ Incomefiom investmentstotalled £22,85612022 g25,3671 and continues to form an important Dart of the Friends. incotne. Goveinance cosis are meteach vearfrom subscriohons. The Maintenance Reserve has stayed consistent at£200,000. The level oythe reseNe follows the guidelines Set out bythe Charity Commissione15.Thevalue of iTrvestments incteaseo by£8.23612022-loss of £75.8961. Future plans The Chariiy plans to continue to assisE in mainiainingihe fabric oltheAI)bey. ttS5eMces. acEPrIeS. adDmments antj reservation. toRetherwith itsfumishinis. vestmellts and omaments. The Chafrtvs Dians are subiecttDthe constraints ol ItsfundraisinRwhJch is dependenton bequests. legacies. donations. Irwestment income and incorfie trom the memtr>eis. Strueture, governance and management Governing document The Chaiityis governed bya constitution CTeated in 1953. and amended 2nd Juty 1989 and on 23rd February2013. Recruitrnenl and appointment of newtrustees Member5 01 Council seNeforthreevears and rf¥vÈ1"n0tan be re-electedlora furlheithreevear5 at Ihe AGM. A member of Councilwho has served iwo continuoustenykswllnot be etiiible forfe-ele£tion unb'l one veaiafter retirement ai an AGM. Organiza*"onalsiructsire The Council is resoonssbie fo¥ihe markaaementof theaflaitsolThe Friends_ Risk rnanagement TheTru5tees have 3ssessed ihe risks. which the Charitytskes inthe conduct of itsaftairs and of the controls. and procedures, which nèedto be in place ¥0 minimisethose risks. Theyare saiislied that appropriate steps have been iakento Drotectthe Charity's assets and reDutstion. -Page3-
FRIENDS OFTEWKESBURY ABBEY REPOKFOFTHETRUSTEES Icontlrwedl ACCOUNTING AND REPORTING RESPONSIBILMES The Law applicable to charities in EnOanO &Waies requirÈstheT¥usteesto prepare financialstaiemenis foreach financialyearwhich gwe a true and fairview of the ChaiJVs financizl actiwtie5 duringthe year of r£sfinancial position atthe end of rheyear. In pieparingfinancial staternentsgivinga true andfair view, theTrustees should folliw besi practsce and: select suitable accountingpoticies and then apptythem consistently, makejudgments and estimates that are Feasonable and wudent.. 5tatewhether applicable accounting stsThdards and statements of recornThended practice have been followed. subjectio any departure5 disclosecl and explained in the financial statement5', prepare the financialslalernents on the goingconcem basis unless st is inappropnate to pSurne thatthe CharitywLLcontinue in Opation. The Trusiees are resDonsiblefor keeDinE accountsn£ recordsiknich disclosevbrylh ieasonable accuracvthèfinancial position otthe Charityat any time antJwhich enablethem to ensure thatthetinancial staiernents comply with the Charities Att 2011. the apptsc3ble Charities IAccountsand Reponsl Regulations, and the prowsion of the constitution. They are 3150 responsible lor safeEuardingEhe assets of the Chaiity and hencefortaking reasonable stepsforthe Dreveniion and detection offraud and other iular1ties. ApprDved by order ofthe Boaid olTrustees on 13thApril 2024and signed on theirbehalf by. G L Finch-TTUStee -Page4-
FRIENDS OFTEWKESBURVABBEY INDEPENDENT EXAMINER'S REPORT to the Trustees of The Friends of Tewkesbury Abbey I report to the charilytru5tees my examination of theaccounis of Fr5end5 ofTewkesburyAbbey ItheTrustl forthe yearended 31 t)ecember 2023 which are setouton pages 61015. Resporh5ibiiities and basis ot report As the charitvtrustees of theTrustvou are responsible ft)¥the DreDaration olthe accounts in accordan¢e iwth the requiremenrs of the Chartties Act 2011 llheAtt'l. I reoort in rpqnp.pi of mv pxamination DfthpTru5t'$ arcounts cArrirfJ aut under Sècrion of theAtt and in carryingout myexamination I have foll¢)wed all app"¢able DÈrection5 given bythe Charitycommlssion under Section 1451511bl oi rhe Aci. Independentexamine¢s strtemerrt I have cornpleted myexarTiination. I confirm that material mattsrs have cometo my attention in connection with the examination givinu me cause to believe that In any mate15al Fespect.. l accounting recDrdswETe nol kept in respectof thETrustas required bysection 130 oltheA¢t,' ow 2 the accounis do not tlCCOEd with those recoids.. or 3 the accounts do not complyvnth the applicable requiremenis concErningtheform and content of accounts set outin the Charities (Accounts and Reports) Reguiètions2008 otherthan any requirementthatthè accounts give a true and fa51viewwhich is noi a matter considerecl as part of an Independent examsnation_ I have tm) concerns and have come acros5 no other matter5 in connectionvitth the exarnination to which attention should be drawn in this ieport in ortterio Able a proper undeandIng0tthe accounts to be reached. MichaelAG Bull Bsc F¢A BPC Partners Limited 3 RoyaLCres¢eni Chellenham Gloucesteishire GL50 3DA Date: DRA -Page5-
FRIENDS OFTEWKESBURY ABBEY STATEMENT OF FINANCIALACTMTIES lorthe yeai ended 31 December2023 Unrestritted Fynds Restiicted Fund5 Endowment Funds 2023 Totsl 2022 TotaL Ne INCOMING RESOURCES Income and endowmentsfrom Subscriptions, donations and ieAa¢ies 21.816 7.111 28,927 25,266 ChaFLtabLe acti¥51ies GreetingC2rds atKI Books Youngfriends Investment Incorne Evenrs an(J a¢tivitie5 1.005 1.005 793 22.856 3,144 3,303 491 26,367 20,356 3.144 2.500 Totalincomingwe$ources 46.321 10.404 58.961 ExPENDuREON Charitable adivities Greetin£Cards and Book5 Govemance cost5 Grants Events and aCtltIeS 744 8,624 90,519 744 1,341 5,738 168,434 1,616 8,624 90.519 2.082 Total resources expended 101.969 101,969 177,129 Nergainslllossesl on investments 8.236 175.8961 NET INCOMEIIEXPENDITUREI 147.4121 iQ.404 127,0081 I194.5) Recon¢SUation olfund5 Totalfunds brought IoTh*drd 505,166 126,631 148.955 780.752 975,716 Totalfunds caffiedforward 457.754 137.035 148,955 743.744 780.752 ThEnotes ofj pages8to15fomi partofthesefinancialstatements -Page6-
FRIENDSOFTEWKESBURY ABBE BALINCE SHEET at 31 December2023 Note un51cted Funds Restricted Funds Endowment Funds 2023 Total 2022 Total FIXED ASSETS Investments 4134,837 137,035 148,955 720,827 638,846 Total Fjxed Assets .837 7.035 148.955 720.827 638,846 CURRENT ASSErs Stocks Debtors Cash at bankan¢ in hand 517 3.885 21.852 517 3.885 21.852 364 S,923 137,816 io Total CuFrentAssets 2&254 26,254 144.103. UA8ILITIES-amourt5faibng due wlthln oneyear Other creditors ad ac¢ruals li 3.337 3,337 2,197 Net centA$Sets 22.917 22.917 141,906 TotaLNet Assets 457.754 137.035 148.955 743.744 780.752 FUNDS Unrestricted funds Re5trictett lunds Endo¥*m)eni fund5 457,754 137,035 148,955 S05.166 126.631 148,955 Total CharWFund5 743.744 780,752 The financial statements were approved byihe BoardofTrustees and authorised lor issueon 13thApril 2024 and were signed on Irs behalt ty. G L Finch-Trustee Bennett-Trnstee .Page7-
FRIENDS OFTEWKESBURY ABBEY NOTESTO THE FINANCIAL STATEMENTS for tho year ended 31 December 2023 I ACCOUNTING POLICIES Basis of preparation The tinancial siaiementsotthe charrty. which Isa pubiEC benetitentrty uniSei FRS 101 have been prepared I accordancewith the Church Accouniing Regulations 2006togeiheri.iith Chariknes SORP IFRS 1021'Accounting and Reporting by Charities.. Ststement ol Recommended Piacice appCab[elo charities prepar5nEihoiraccounts in accordance withlhe Fir.ancial ReportintFStaTr15afd applicable Intme UK antj Republic of Iieland IFRS 1021. and Ihe CharitiesAct2011.ThefinanciaLstaiement5 have been prepared underthÈhistorical cost convenlion. th the exception0* Investmentswhich are Included atmaiket value. as modifi.ed bythe ievaluation of certain assets. Incoming resources Donations, gifts and legacies representamount5 receNed ornotified duringtheyear. iogetherwilh any associated tax refund. Donations for specific purposes are ciedited rothe statement of fin3nc5al acu¥ities in iheyear in which theyare received. Unspent baiantesare carlled foTh¢ard tQ5ubseouentyeatswithin restrirted funds. Tax refunds are recognis8dwhen the incoming resource towhi¢h theYeie 15 receNed. fe subscriptions receNed areallocaied to smemenl of FinancialActiwEies in theyear 1Th1Ch theyare rBceNed. Annual subscriptions togetherwth the appropriatetaxrepaymentaye treated as income atthe tIFnethey are due. Resources expended Liabilities are iecogni5ed as expendituie as soon asthere is alEgal orcon5tTuthve obb"Eation cornrnittingthe chartyto the expenditure. All expendtfuie is accounted for on an accruals basis. Governance costs comprisE thecosts of tunnirtgthe chaiityand au costs involvingthe public accountabilityollhe chality and it5 comptiancewth ieguLatsons and good pTaciice. Thesetosts iftclude the Cosis of the preparation ano exatninaiion OTsiaTutory accoyni5. Grant expenditure is recognisedonlywhen thegrantsore paid. Grants appVed for payment in futureyears are transferredtQ i> designated fund in theyeai In whichtheyare approved 2nd included in the balance Sheet as Designated Fund- future grants untiltheyaFe pai AU other expenditure is generally recognised whetTrit155ncuffed and is a¢couTrted foi gross. stocks stocks are value¢ atthe lower of cost and net reasab[eVa1Ue. Fund accounting Endowmentfunds alUnds. capnal ofwhith musibe rnainiained,. onlyincome arisingfrom irsvestmentof the endowmenttnay be used as erther restricted or unrestrictedfund dependingupon the puipose lorwhichthe endawmentW3s established. Restricted funds represent (al incortlefrom wsts oren(5owmerttswhs¢h may be expended only onthose restricted objectives piovided Inthe tem)s ofthe trust or bequest. and Ibl donations or grants ieteivedfor a specrfic objective. The funds may onlybe expended on the specific obiectforwh5ch theywere gNen. Anybalance remaining unspent attheend of eachyear must be carriedforv4aid as a balance on thai luniL The Friends of TewkesburyAbbey does notusuallyinvest 5eparatelytoreach fund. Unrestricted funds are generalfuftdsihatcall be usedtor ordinarypurpose5. -Page8-
FRIENDS OFTEWKESBURY ABBEY NOTES TOTHE FINANCIAL STATEMENTS forthe yearended 31 Decembei2023 Investments Inve%rments liste4 on a recognised stOCK marketexchange are slated atmitj-marketvalue In the balance sheet. Ail movemEnts in value ansingfrorn Invesimert changes and revalllations are included in the Ststementof Financial Activities. SUBSCRIPTIONS. DONATIONSAND LEGACIES Unrestrlctsd Restricted Funds Funds Endowment Funds 2023 2022 Subscriptions- Annual Subscription5- Life Friends Donations- 2021 Appe81 Donations- Other Taxrecoverable on gift aid Bequests and legacies 7.173 3.980 7,173 3,980 6.937 6,491 10,193 1,600 2,277 258 2,423 8,515 6.937 6.491 2,672 1.500 174 1.500 21.816 7.111 28,927 25,266 The Friend5ha¥ beEadY0[a bwUesttrttmH¥DPO(1*HI]L TherXeweamwnt5ti11ie1instl¥be detÈtrniNed. INVESTMENT INCOME Unrestrictert Restiicterf Funds Funds Endowment Funds 2023 2022 Dividen(Js Irom bsted investrnents Deposit account interest 18.295 2.061 2,500 20,795 2,061 24,610 1,757 20,356 2.500 .856 26,367 -Page9-
FRIENDSOFTEWKESBURY ABBEY NOTESTO THE FINANCtALSTATEMENTS for the year ended 31 December2023 4 GRANTS PAYABLE UnTestricted ReslTiCted Funds Funds End0vent Funds 2023 2022 Christrna5 Gifts Abbey PCC.. Maintenance of labrit Repairs to office wtndow5 Trees In the Churchyard Visltor Centre Office fire doors Conservation ManagetnefiiPLan West End Project Choralscholarship Fund Tower Inspection 200 75.000 3.519 75,IKIO 3.S19 100.000 32,803 1,998 11,830 4,218 6,500 3.885 7,000 7.000 5.000 s.000 90.519 90.519 16&434 5 GOVERNANCE COSTS Unrestricted Restricted Funds Funds Endowment Funds 2023 2022 Bank charges Printingand ststionery Postage and telephone Administration costs Sundry expenses Insurance Independent Examiner'5 retnuneration Independenl Examiner's.. (Xherfees 223 826 223 826 194 665 343 2,181 242 5.217 199 5.217 199 507 1,606 1.560 600 1,560 600 8.624 8,624 5,738 6 TRUSTEES, RENUNERATION AND BENEFtts Therewere no trusrees. Temuneiation orothef benelrtsforlheyear ended 31 December 2023 llDrlortheyear ended 31 December 2022. Trustees. expenses Tiusrees are paid Expenses torattendingmeetings and Oubes directty related totheir duties astrustee. In 2023, I trusteewas paid Eotal expenses of £60012022- £1,610). -PagelO-
FRIENDS OFTEWKESBURY ABBEY NOTESTOTrIE FINANCIALSTATEMENTS fortheyearended 31 Deeember2023 7 FIXEDASSET INVESTMENTS Historical cost Mart(etVaLue Unreali5ed ProlttllLossl duringyear 3L1123 Llsted invÈ5tments.. 31.12.22 Church of England Fixed Interest Fund Church ol Eng0 InvestrneTrt Fund M & Gsecurities Charilund Lloyds TS8 Ord Shares Rathbones 376.695 68,230 193,869 si 5,242 17.3221 831 720,000 52 720.775 775 720,831 720.827 638, 8.236 8 STOCKS 2023 2022 Stocks ol greetingcard5 and books 517 517 9 DEBTORS 2023 2022 Amounts f311ingduewthin on year Bequests Income tax recoverable Prepayrrents andacctued in¢tsme Other debtors 3,500 2.423 439 600 3,885 5,923 10 CASHAT BANKAND IN HAND 2023 2022 Cash atbank Gene131 currentaccount Church of EnEland Board of Finantedepositfund TheAffirmatNe Deposit Fund Cash in han(t 21.852 85.677 6.410 45,727 21.852 137,816 -Pagell-
FRIENDSOFTEWKESBURY ABBEY NOTESTO THE FINANCIALSTATEMENTS for the year ended 31 December 2023 11 CREDITORS 2022 Othercredttors 3.337 2,197 3,337 2,197 12 MOVEMENTS IN FUNDS Net Miwement inlunds Nei TraAsfeTS betweenlunds At 01.0123 Al 31.12.23 Unrestricted funds Generallunds Designated- Maintenance ReseNe Designared- Futur2 Grants 197.166 200,(X)O 108,000 S05,166 43.107 1243,5191 13.2461 200.000 261.000 457,754 190.5191 147.4121 243.519 RestriedIns The FFiends' 2021 Appeal Young Friends 124.456 2.175 126,631 9.611 134,067 2,968 137,034 10.403 Endowmentlunds Capital Endowment Fund 148.955 148.955 TOTAL FUNDS 780,752 137.0081 743,744 Net moverneDt in ftjnds. included in the above are astd1. Incoming Resources Resources Expelldèd Gain and Losse5 Movement ill funds Unresiricted funds Generalfund Designated- Future Grants 46.321 111.4501 190.5191 iioi.wi 8.236 43.107 190,5191 147,4121 46,321 8,236 Restricted Funds The Friends'2021Appeal Young Friends 9.611 793 10.403 9,611 793 10.403 TOTAL FUNDS I101.9) 137,0081 -Page-
FRIENDS OFTEWKESBURY ABBEY NOTESTOTHE NNAN¢tAL5TATEMENTS foithe year ended 31 Decembei 2023 12 MOVEMENTS IN FUNDS-contlnued Net Movement infvJ)ds Net TTanslers betwee# funds At 01.01.22 At 31.12.22 Unrestricted funds Generalfunds Designated- Maintenance Reserve Designated- Future Grants 303.538 200,1)00 195,881 699.419 129.9041 176,4681 197.166 200,000 108,000 505,166 1164.3491 1194.2531 76.468 Restricted funds The Friends. 2021 Appeal Young Friends 125.658 11.2021 491 124.456 2.175 Endowmentfunds Capital Endowment Funtj 148,955 148,955. TOTALFUNDS 975.716 1ts4.9641 780.752 Net movemem inlunds. included in the above areasfollows: In¢oming Resour¢Ès Resources Expended Galn and Losses Movement inyunds Unresiritledfunds General lund Designated- Future Grants 54,887 18,8951 1164,2491 1173,2441 175,8961 129,9041 1164,3491 1194,253 175,8961 Restrlcted Funds The Fr5ends' 2021 Appeal Young Friends 13,8851 11.2021 491 17111 491 3,174 13.8851 TOTAL FUNDS 58.061 1177.wl 175.8961 1194,9641 -Pagel3-
FRIENDS OFTEWKESBURY ABBEY NOTE5TOTHE FINANCIALSTATEMENTS forthe year ended 31 Decombei 2023 MOVEMENTS IN FUND5-¢oniinued CAPITAL ENDOWMENTFUNDS The capital endowThentfunds are Tepresented ty Inveszrnents shown on the balance sheet. They were estabb.shed asfollow5-. 1992 Estate Of Major K B Smith Yo be invested by ihe Friends in anyinvestfflent authorised, and the incometo be used foTthe maintenatlce and repair olthe the fabricoftheAbbey." 23.655 1994 W. E. ThomasTrustlo be invesred foT pmduciTrg income lorthe Friends.- 18.000 1999 Anonymous- lo go intothefundsto prijduce income-the capitaltt> be retained." 800 2001 AnonyThous logo into thefunds to produce income-the capitalto be rÈtained.' I,ooG 2004 George Cadbury Fund Ltd'togo intothe fundsto produce more income- the capiialto be retained" 75,000 2014 George Cadbury Fund Ltd"to go into the fUlS to produce rnore income- the capitalio be retained- 25,000 2016 George Cèdbury Fund Ltd lo go iniothefunds to produce nre income- the capitatto be retained" 2,500 2020 Estate of MrsA L K Cadbury 70 be invested bythe Friends in any investment authorised, and the incometo be used forthe tna5ntenanceand repairof the labric ol the Abb 3,000 £148,955 The FTieTtds' 2021Appeal Donations lo an Appealwith the aim of raisiner202.IOOfora specth'c projectto transform ihe West End of theAbbey. Young FTiends Income and expenditure torthe purpose otpromob"ngacNttesforrnetnbers otthe Young FrieniJ5 Membership Scheme. Designated funds. maintenance reserve To ensurethar sufficiefttfunds are available, so thatlhe Fiiends car> make major conthbuts.ons tothe PCC towards ihe makrrtenance and improvemem oftheAbbey. a reserve is maintained atiiot less than £200.ODO. Dèsignatedfunds-ftrtuiegrants The Council has designated fundsforgtanis lorthefoliowsng projectswhich have notyet been undertaken orcompteted. -Pagel4-
FRIENDS OFTEWKESBUAY AB8EY NOTESTO THE FINANCIAL STATEMENrs lor the year ended 31 December2023 12 MOVEmErS IN FUNDS- continued Date approved Approved Released to No longer In year SOFA required OL0123 31.12.23 2021 Officewindows- 5upplementsry 2022 Grantto Fabric Fund for 2023 2022 Choral Scholarship Fund 2023 Grant to Fabric Fund for2024. 2025 and 2026 2023 Tower Inspectton 13,5191 175.0001 17.0001 11.4811 75.000 28.0(K) 21.000 240.000 5.000 240.000 (s.¢XI) 108,000 245.OOD I.519} 11,4811 261,000 Funds are designated In iheyeaT in which tlte project 15 approved. The provision 15 released wheTrthe grant 15 paid or rfthefunds are nolongerrequired. 13 RETED PARTYDISCLOSURES There We no related pattytransacrions toilheyearended 31 December2023. -Pagel5-