Registered CharityNurnber- 211236 Report of the Trustees and Unaudiied Financial Ststements toriheyear Ended 31 December2024 for Frlends of TewkesburyAbbey
FRIENDS OFTEWKESBURY ABBEY REPORT AND FINANCIAL STATEMENTS Forthe yearended 31st December2024 CONTEKts Page Legaland Administrative Inlormation......................................... Report ottheTrustees........................................................... 24 Independent Examinerfs. Report................................................... Staternent of FinancialActMties............................................... Balance Sheet...-.................................................. Notes iothe FinancialStaiements......................-...-...-.........-.... 7-15
FRIENDS OFTEWKESBURY ABBEY LEGALANDADMINISTrATIVE INFORMATION President.. irice-Presidents.' The Bishop of Gloucestei The Lord eenant01 Gloucestershire The Bishop ofTewkesbury The A¥chdeacon of GloUcee¥ The Archdeacon of Cheltenham Mr G L Finch (appointed 20th luly2024) The Revc Ewhttney Dr IWhr(e DrA Crowther Mrs S Lancelot Chairman.. Wice Chaimian-. Council 2022-25 Mr H Sweet Mts M Beagiey Mrs S Coulton Mrs K FeiEhan Mr G Hill Mr R Bellairs Mrs L Paisons MrJGoom The Wicai ofTevA(esbury-The Revcanon Nick Dames Mrs N Oakes Mr P Charman Mr5 H E Charman Drl Lancelot CouncAI 2023-26 Council 2024-27 Ex-OKIcio.' The Churchwordens.- P.C.C Representstwes." Frlends Table and Card Secretary.. HOnoraryT8SISrer Mis J Small Mr N Bennett. 6Stoke PaFk Court. Bishops Cleeve. Gloucestershiie. GL52 8US Mrs K E Vincent. Abbey om'ce. Church sireet. Tewkesbury Glouce5te15hiie. GL20 5RZ Uoyds TSB Bank plc HIO) Street, Tewkesbury. GlOUceTSh1 GL20 SAW M A G Bull Bsc FCA BPC Partner5 Mrted, Charleied Accountants 3 Royal CTescenl, Cheltenham. Gloucestershire GL53 OAN Secreta Bankers.- IndependentE¥amAner The Friends olTewkesburyAbbey is regtsteredvrith the ChaTity Commission underthe Charity numbeF 211236. The principal office Dylhe Charity is atThe Abbey Office. TeesbUryAbbeY, Tewkesbury. Gloucesieishire. The Charity's Trustees comprise the Members of ihe CouTtcilwho are lisled wthin this report. The names and addresses of the HonoraryTreasurer. 5ecFetary. Bankers and Independent Examiner are also Cluded. -Pagel-
FRIENDS OFTEWKESBURY ABBEY REPORT OFYHETRUSTEES The Nembers ol Ihe Council asTrustees presentlheir reportymh thefinancial statement5 Otthe charity for the year ended 31 December 2024. The trustees have adopted the piowsions of Accauntingand Reponing by Charities.. Statement ol Recommerlded Practice applicable to charilies preparingtheir accounts in accordance with the Financial Reportingstandard applicable in the UK and Repubb"c of Ireland IFRS 1021 lelfeclive I lanu3ry20151. Objectives and activtlie5 Objectives and aims The Friends. main purpose is to assisttheAbbeyas set ovt inthe consts"tirtion.The Council recetves recommendation5 and information aboui the needs of the Abbeyfrom the Parochial ChuTch CounciL which has the prime responsibilityto maintain theAbbey. The Abb is in consiant need ol care. maintenance and iepairand. in ewOr tts size and alle. some ol these demands are likelyio be unpredictable in theirliming and substantial in their conleni. The Friends. assets are availableto be spentforihe puiposes otthe Frtendsythh the restrictions that the capiial endowmeni funds are requiredto be invesied to produce income and Ihe restricted funds must be used for the purposes specified bythe donors. The Councilcolltinues tts policyof maintaining income and re5eNestofuifil its purposetoas5iSt theAbbey. having iegard tothe obligationsthatitmay be asked to assume. The unrestricted funds at 31 December 2024 totalled £420,292which included two designaied funds.. a maintenance reseNe of £200,000. and a desionaied fund forfuture giants of £174.000. TheTrustees have refeTred to the Ruidance contained in the Charnv CommÈssion's £eneTal Ruidante on Dubts"c benefit when reviewin* the Chariw's aims and object$ and in plannin2future act¥tieS. In Darticular, theTrustees consider how planned aGtiwtieswiU contribute iothe aims and obiectivesiheyhave set. Achievement and perfonnance Charitablè aetivilie$ £87.OOOwas paid in Rranls dUrinthe vear. which included £80.OOOforthe maintenance of thelabric of Ihe Abbev. and £7.000 forthe Choral ScholarshiD Fund. In OctobEr 2019The Friends launched an ADDeaLto markthe Woth Anniversarv of Ihe consecration of the Abbev in 2021. The tai£el is £202.IOOtO SUDDon a Droiect io reorderthe West end of the Abbev so as to provide a more ODen. li2ht and welcotninRentrance. Al 31si December 2024 £139.311 had been raised. Financial réview Inv•stmÈnt p)licy and obiecti¥es The Charity's Investment Policy is to produce a revenue incometo supplementlncomefrom othersouices in order to satisfvthe average annual reoueslfor Giants. Thi5 wll be achieved wth the minimum of riskto the assets of the Charity atlhe same ts.me endeavouringto mainiainthe realvalue of its capital -Page2-
FRIENDS OFTEWKESBURY ABBEY REPORTOFTHE TRUSTEES Iconlinuedl ReseeS policy The level ol income (including bequests and leflaciesl receNed bythe Fiiends can and doe5 varyfromvear to year. similarly.lhe levelol Grants made byThe Friends towards the upkeep of the Abbey can also v£ry widely, particularty in a period ot Major renovation, which can last up 10 5yeais. To ensurelhat s1£lent funds are available. so thaithe Friends can make maior contnbutions to the PCC towards maintenance and irnprovemeni of the Abbey. a Reserve is main1ained ai not le$5 than £200.000. The'ReseNes Policf 15 reviewed on an annual basis. Unreslricted Income The un¥e5tricted incorne for2024talled £44.19812023 £46.3211 which included bequests and legacies amountingto £1,57212022 £1.5001. Income Iiom invesimentstotalled £2068312023 -£22.856 and corrtinues toform an importani part of the Friends. incorne. Governance costs are mei each yearfrom subscriDiions. The Maintenance ReseNe has staved consistentat £200.000. The level olthe resetve Yollows the Auideiinesset out bvthe Charitv Commissioners. The value of investments increased bv£22.35512023 -£8,236). Future plans The Charity plans to continue to assist in rnainiainingihe fabric of theAbbey. its adornments and preseNation togetheiwith its fuTnishings, vestments and ornaments. The Charitys plans are subjectto the constrainls of lis fundraisingwhich is dependent on bequests. legacies. donations. investsnentincome and irlcome from the members. Stwclure. governance and managerrEnt Governing document The Trust is governed by 3 constitution created in 1933. and amended 2nd July 1989 and on 23rd February2013. AfurtheTamendment has been agreed and approved bythe Friends Counciland Parochial Church Council and 11 be tabled atthe AGM on 29thJune 2025 for ratification. Recruitment and aDDointment of newtrustees Members ol Couricil Seelorthree vears and if willinRcan be i&elecied for a further threevears ai theAGM. A member ol Councilwho ha5 sefved two coniinuous terms will not be eti&'ble lor ie-ele¢tion until oneyear after r&tirement at an AGM. Or£anizatlonalstructure The Council is re5ponsibleforthe manageTnent of the affairs of The Friends. Rlsk manaEement TheTrustees have assessed the risks.which the Trusttakes inthe conduct of rts affairs and of the conlToLs. and procedures, which needto be in Dlaoe lo minimisethose risks. Thevare sati5fiedlhat aDproDriate steps have been taken io ploteci the Tntst's assets an(J rep3110. -Page3-
FRIENDS OF TEWKESBURY ABBEY REPORT OFTHETRUSTEES Icontlnuedl 2021 Appeal The conceptol the 2021 fund wasto make signfficanl longierm changestothe we End to markthe900th anniversary of Ihe consecration. It was to bejoinilunded bythe Friends and the PCC and could bearthe names of signrficant donors. Unfortunatelythe PCC and DAC could not agree upon a scheme. Therefore as of31 December 2024 the Friends have decided to suspend anyEnore contributions to thefund until a definitive scheme can be agreed and titneframe delermined. For the tirne being all contsibution5wiII be reiained in a Restricted Fund accruing interestfrom QUT Investments ACCOUNTING AND REPORTING RESPONSIBILMES The Law applicable to charfties in Eft2land &Wales requirestheTrusteesto preparefinancial stalements for each financialyearwhich give a true and fairviewoflhe Charitls frnancial actimties duringthe year and of its financial poslion ai the end of Ihe year. In preparingfinaftcial ststements gtvinga true and fair ew, theTrustees should follow bestpractice and- select suftable accDUllting policies and Ihen apptythetn consistentty. makejudgments ani5 estimates thatare reasonable and prudent state whether applicable accoununE Standards and Siatements of recommended practice have been followed, subjectto any departures disc(osed and explained in ihe financial prepaiethe financialsiatements on the goingconcem basis unless r( is inappropriate to presume thatthe charity[{ continue in operation. The TTuslees are responsibletor keeL)In3ccountinR recordsvthich disclose With reasonable accuracvthe financi31 position of ihe Charitv atanvtime and which enable themto ensurethatthelinancial siaiements comDIv th the Charities Act 2011. the appb"cable Chartties (Accountsand Reports) Regulations. and the prowsion of the constitution. They are also responsiblefor safeguardingthe assets of the Charity and hencefortaking reasonable stepsforlhe Drèvention and detection of fraud 2nd olher irreRuiarities. Approved by order of the board Ttustees on 26th April2025 and signed on their behalf by.. The Rev C E Whitney-Twstee -Page4-
FRIENDS OFTEWKESBURY ABBEY INDEPENDENT EXAMINER'S REPORT to the Trustees of The Friends of TewkesburyAbbey I report io the tharitylrustees on myexamination ol theaccounts of Friends otTewkesburyAbbey ItheTIusii Yor the year ended 310eEember2024 which Ere set out on pa£es 6t0 IS. Re5pon5ibilwLies and basis of report Asihe chariivirusiees of theTw*vou are responsibleforthe DreDaration of the accounts in accordance wnhlhe requirements ol the CharrtiesAct20111'the Act'l. I reDOrt in resoeci of mv examinatian ollheTru5t'5 aCCOVllt5 Caied out underSectioH 145 of the Act and in C2rrying out myexamination I havelo(lowed all app"Cable DireclFons given bytheCharityCotnmis5ion under Seclion 1451511bl of the Acl. Independentexaminerfs s131emenl I have completed myexamination_ I confirm that no maierial matters have comeio my anention in connectionwith the examination gmng me causeto be"eve that in any malerial respect l accounting recordsweTe not kept in respect of iheTrusl as required byseaion ol theAct,' or 2 the accounts not accordwilh those records.. or 3 the accounts do not complywith Ihe applicable requirements concerningihelorm and contentot accounts set out in the Charities (Accounts 3n(J Reportsl ReEulations 2008otherthan any requirernenlthal the accounts give a true and faiTviewvthich is noi a matter considered as pan of an independeniexaminaiion. I have no concerns and have comeacTOSS no other matters in connectionwth Ihe exarnination to which attention should be drawn in ihis report in oiilei to enable a PToperunderstandingotthe accounts lo be Teached. MlchaelA G Bull Bsc FCA BPC PartneTS Limlted 3 Royal Crescent Cheltenham Gloucestershlre GL50 3DA Date- 30fh Apri12025 -Page5-
FRIENDS OFTEWKESBURY ABBEY STATEMENT OF FINANCIALACTIVITIES forthe year ended 31 December 2024 Unrestricted Fund5 Restrlcted Funds Endowment Fund5 2023 TotaL Nole Total INCOMING RESOURCES Income and endowmentsirom Subscriptions. donations and legacies 17225 744 17.969 28,927 Chatltsble aciivllles Greetingcards and Book5 Youngfriends Investment inccme Events and adNlties 325 325 1,005 793 17.6&3 4.721 a.(0 20.683 4.721 22,858 3.144 Totalln¢omlng resources 3954 3.744 43.698 56,725 EXPENDITURE ON Charltabie actlvftles Greeting Cèrds and BkS Governance costs Granis Events and actNities 217 9.972 87.000 217 9.972 87.000 1,5B2 744 8,624 90,519 2.082 TotaLresourees expended 98.771 98.771 101.969 Net gainslllossesl on investments 20,855 1.500 22.355 8.236 NETINCOMEIIEXPENDfTUREI 137.9621 5.244 1317181 137,0081 Reconciliation ollunds Total funds bioughtforward 457.754 137.035 148,955 743.744 780.752 Totalfunds carrledlorward 419.792 142.279 148.955 711,026 743.744 The nDleson pages 8t0 151omi partolthe5efinanctalst2temenEs Page6-
FRIENDS OFTEWKESBURY ABBEY BALANCESHEET at 31 December 2024 Note Unrestricted Funds Restricted Funds Ertdoent Funds 2024 Total 2023 Total FIXED ASSETS Investments 414.675 142279 148.955 705.909 720,827 TotalFixed Assets 414.675 142,279 148.955 705.909 720,827 CURRENT ASSEts Stocks 300 300 517 Debtors Cash at bankand in hand 3.e85 21.852 io Tolal CurrentAssets 7.897 7,897 26.254 LIABILmES- amountsfaLlingduewrthin one year Other creditors and accruals 11 2,780 2,780 3.337 Net CurrerrtAssets 5.117 5.117 22.917 Total NetAssets 419.792 142279 148.955 711.026 ?,744 FUNDS Unresiricted funds Restricted funds Endowmentfunds 419,792 142.279 148.955 457,754 137.035 148,955 Total Charity Funds 711.026 7,744 The financial statements were approved bythe Board of Trustees and authorised for issue on26th April 2025 and were signed on its behail by. l LICIi,. N C Bennett-Tru5tee -Page7-
FRIENDS OFTEWKESBURY ABBEY NOTESTO THE FINANCIAL STATEMEMts for the yeaf ended 31 December 2024 l AccouKfiNG POLICIES Basis tsf preparallon Thefinancial 5tatemenis of the chaTrty. which is a pubb"c bEnefil entttyunder FRS 102 ha¥e been prepared in accordance withthe Church Accounting Regulations200610getherwilh Charities SORP IFRS 1021 Accounting and Reportingby Charities= Statementol Recommended Practice appts"cableto charr(iespreparingtheir accounts in accordancevAththe Financial Reporlingstandard applicable inthe UK and Republi¢ of Ireland IFRS 1021. and Ihe Chaiitie5 Act2011. Thefinancial slatements have been prepared underthe historical cost convention. ththe exception of investmenlswhich are included 31 wnarkelvalue. as modified bythe revaluation olcertain assets. Incomlngresources Donations. Otts and legacies represent amounts received duringtheyear. togetheivth associated tax retund. Donalionsfoi spectfic purposes aiecredited to thestsiement of financial actmtyes in theyearin which theyare received. Unspenl balances are carriedforward to subsequentyearswthin restrictedfuTrds.Tax refunds are recognised whenthe incoming resou¥ceto whichthey relate is rettive(l. Life subscriptions feceNed are auocatedth statementof FinancialAcMies in theyear in vknich thÈyare received. Annualsubscriptions togetherYith the appropria1etsxiepanenI aretreatetj as income atthetiMethare due. Resources expended abiltties are recogni5etl a5 expenditvre as soon asthere is alegalof conwu¢the obtigation cornmittingthe charitytothe expenditure. Ml expenditure isaccounted lor on an accruals basis. Governance costs compriseihe costs irfrunnintthe charfty and 3ti¢osts invoiwngthe pubU"£ accountabilityofthe Charityand its compliance with regulations and good practic& These cost5 include the CDSts of the prepaiation ana examinaiion OTsOryaCCOuTs. i?[a expenallure Isrecogniseij oniyvmenme grants are paio. biants approvea Tor paymeni In Tuwre years are IransferTed to a designated fuEtd in theyearinwhichtheyareappTiwed and included inihe balance sheet as Designed Fund-future grants uptiltheyare paid. AEI other expendr(ure is generallyrecognised whentl is in¢uffedand is accounted forgross. Stocks Slocksarevalued atthe lower otCOSl and net reaiisatAevalue. Fund accountlng Endowment funds aretunds, Ihe capttalof which rnusi be maintained. onlyincome arisinglrom invesiment of the enrfowtnenl may be used as either reslricted orunrestricied fund depending upon Ihe putpose forwhich the endowmentwas estabushed. Restricied fund5 represent lal intovnefrom trusts orendowments which may be expended only onthose restricled objectNes provided in theterms of theirvst or bequest. and Ibl donations or granls received for a specffi¢ objective. The funds mayonlybe expended on the specffic object(or which th2ywere given. Any baLance remainingunspent atthe end of each year must be carried forward as a balance onthatfund. The Friends ot TewkesburyAbbey does usuauy invest separarelyfoi each fvnd. Unrestricted funds aregeneralfundsthatcan be u5eil forordinary purposes. -PageB-
FRIENDS OF TEWKES3URY ABBEY NOTES TOTHE FINANCiALSTATEMENT5 ¥orthe year ended 31 December 2024 Investments Investments listed on a recognised stock market exchange ate staled atrnid-markeivalue in the balance sheet. All movements in value arisingfrom investment ch3nees and revaluations aye included inthe Statement of FinanGial Actiwties. SUBSCRIPTIONS. DONATIONSAND LEGACIES UnreslTiCted Restricted Funds Fund5 Endowment Funds 2024 2023 Subscriptions-Annual Subscriptions- Life Friends Donations- 2021 Appeal Donations- Other Tax recoverable on gift aid Bequests and legacies 7,764 4.754 7.764 4.754 744 1.572 1.563 1,572 7,173 3,980 6,937 6,491 2,846 1-,500 744 1.572 1.572 17225 744 17,969 28,927 INVE5TMEKt INCOME Unrestricted RestrlctÈd Funds Funds Endr>wment Funds 2024 2023 Dividendstrom listed inveMEnts Deposlt accouni interest 3.0 7.543 13.14a 20,795 2.061 ,140 17,6&3 3.000 20,683 22,856 -Page9-
FRIENDS OFTEWKESBURY ABBEY NOTESTOTHE FINANCIAL STATEMENTS for theyear ended 31 DecembeT2024 4 GRANT5 PAYABLE Unrestrficted Restricted Funds Funds Endowment Funds 2024 2023 Abbey PCC= Maintenance of fabric Repairsto office windows Choral Scholarship Fund Tower Inspeciion 80.000 80,000 75,000 3,519 7.000 7.000 5.000 87.000 87.000 90,519 5 GOVERNANCE COSTS Unresded RestFiCted Funds Funds Endowment Funds 2024 2023 Bank chaTges Printing and stalionery Administr3tlOn Costs Sundryexpenses Insurance Investment MaTraEement Fees Independent Examiner's rernuneration Independent Examinees- Other fees 306 1,118 306 223 826 5,217 199 1,118 122 1.954 1,954 1,560 600 362 362 9.972 9,972 8,625 6 Trustees, remuneratlon and benefils There were no truee$, iemuneration orother benefits for the year ended 31 December 2024 nortorthe year ended 31 December 2023. Trustees. expenses TTUStees are paid expenses foraiiendingmedings and dutyes directlyrelated lolheirdutie5 astTusiee. In 2024. I trusteewas paid total expenses of £60012023- £6001. -PagelO-
FRIENDS OFTEWKESBURY ABBEY NOTESTO THE FINANCIAL STATEME5 for the year ended 31 December 2024 7 FIXED Ass INNESTMENTS HistOEiGal cost Marketvaiue Unrealised ProtiUIL0551 durlngyear 31.12.24 31.1223 Llsted investmenis- LloydsTSB Ord Shares Rathbones 831 52 1521 22.407 682.974 705.909 720,775 683.805 705.909 720.827 22.355 8 STOCKS 2024 2023 Stocks ol greeting cards and books 300 517 300 517 DEBTORS 2024 2023 Amounts falling due within on sEar. Income tax recoverable Prepaymenis and accrued in¢¢xne Other debtors 1.500 2,846 439 600 3.885 10 CASH ATBANKANDIN HAND 2024 2023 Cash at bank General current account 21.852 21,852 Page 11-
FRIENDS OFTEWKESBURY ABBEY NOTESTO THE FINANCIAL STATEMEKrs for the yeai ended 31 Decetnber 2024 11 CREDITORS 2024 2023 Other creditors 2.780 3,337 2.780 3.337 12 MOVEMENTSIN FUNDS Net Transfers At Movement At 01.0124 in fvnds betweenfunds 31.1224 Unrestrleted funds General funds Designated- Maintenance Resejve Designated- Future Grants 13.2461 200,000 261.000 457.754 45,792 200.000 174,000 419,792 187,0001 137,9621 Restricted funds The Friends, 2021 Appeal Young Friends 134.067 5,244 139,311 2,968 142,279 137.035 5,244 Endowment funds Capital Elldowrnent Fund 148.955 148.955 TOTALFUND5 743.744 132.7181 711,026 Net movement infvnds. included in the above are as foLLows- Incoming Resources Resources Expended Gain and Losses MovemÈM In lun¢Js Unrestrl¢ted funds Generalfund Designated- Fuiuie Grants 39,954 Ili.T/il 187,0001 198.7711 20.855 49.038 187.0001 137.9621 20.855 Restricted Funds The Friends, 2021 Appeal Young Friends 3.744 5.244 3.744 1.500 5.244 TOTAL FUNDS 43.698 198.7711 21355 132,7181 -Pagel2-
FRIENDS OF TEWKESBURY ABBEY NOTESTOTHE nNANGIALSTATEMEKts forihe year ended 31 December2024 12 MOVEMENTS IN FUND5- contlnued Net Movement in funds Net Transfers between funds At 01.0123 At 31.12.23 Unrestricted lunds General funds 197.166 200.000 108.000 505,161) 43,107 1243.5191 13,2461 200.000 261.000 457.754 Designated- Mainienance Reserve Designated- Future Grants 190,5191 147,4121 243.519 Restrlcted funds The Friends'2021 Appeal Young Friends 124.456 2,175 126.631 9.611 793 10,404 124.067 2.968 137,035 Endowmen1 funds Capital Endowment Fund 148.955 148.955 TOTAL FUNDS 780,752 137.0081 743,744 Net movemenl infunds. included in the aboveare asfDUovfi- Incomlng Resources Resour¢e5 Expended Galn and Losses Movement infunds Ullre5trlctedfunds General fund Designated- Future Grants 46.321 111.4501 190,5191 1101,9691 8236 43,107 190,5191 147.4121 46.321 8236 Restrlcted Fund5 The Friends, 2021 Appeal Young Friends 9.611 793 10,404 9,611 793 10,404 TOTALFUNDS 56,725 1101.9691 8.236 137.0081 -Pagel3-
FRIENDS OFTEWKESBURY ABBEY NOTESTO THE FINANCIAL STATEMENTS forthe year ended 31 Decembef 2024 12 MOVEMENTS IN FUNDS- Eontinued CAPAL ENDOWMEMt FUNDS The Capital endowmentfunds are represented byinvestmems shown on the balance sheet. They were esiablished asfollows.. 1992 Estale of Major K 8 Smilh lo be invesied bythe Frientjs in anyinvestment authorised. and the income io be used lorthe maintenance and Tepair of the the fabric ottheAbbey.' 23.655 1994 W. E.ThOMasTru be invested for producing income forthe Friends." 18.000 1999 Anonymous- lo go into the lunds to produce income- the captlalto be retained.. 800 2001 Anonymous kn go into the fuvdsto produce income- the capitalto be retained.. 1.000 2004 George Cadbury Fund Lld 0g0 intothelundsio produce more income- the cap4tallo be retained. 75,000 2014 George Cadbury Fund Lld"logo intothefundsto produce more income- Ihe captsllo be retained" 25,000 2016 George Cadbury Fund Lid 0#0 intothefundsto produce more income- Ihe captslto be retained. 2,500 2020 Estate ol M15 A L K Cadburyyo be invested bythe Friends in any investment authorised, and the incometo be used forihe maintenance and repair of the fabric of the Abbey 3,000 £148,955 The Friends, 2021 Appeal Donationsto an Appealwith the aim of raising£202.IOOfora specili¢ projectto transform thewest End oflhe Abbey. Young Friends Income and expendrture torthe purposeof prom0tingacliIieSf0r membe15 ofthe Young Friends Membership Scheme. Designated funds- maintenance reserve To ensure that sufficientfunds are available. solhatthe Friends can rnake majorcontributions to the PCC towardsthe maintenance and improvement of Ihe Abbey. a reseNe is maintained al noi less rhan £200,000. Designated lunda-fuluregrants The Council has designaied funds forgramsforthe foLEowingprojects which have I1 yet been undertaken or completed. -Pagel4-
FRIENDS OFTEWKESBURY ABBEY NOTESTOTHE FINANCIAL STATEMENTS for the year ended 31 December 2024 12 MOVEMENTS IN FUNDS-conknnued Approved Released lo No longer in year SOFA re4ulred Dateapproved 01.0114 31.1124 2022 Choral Scholarship Fund 2023 Grantto Fabric Fundfor2024. 2025 and 2026 21.000 (7.OCX)I 14,000 240.000 180.0001 160.000 261.000 187,0001 174.000 Funds are designated in Iheyear inwhich the project is approved The provision is reLeased when the granl 15 paid or ifthefunds are no longer required. 13 RELEATED PARTY DISCLOSURES There were no related party iransactionsfoitheyear endeij 31 Decembe¥2024. Page 15-