Charfty rnglstratlon rkumber 215663
THE FRIENDS OF HEREFORD CATHEDRAL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

THE FRIENDS OF HEREFORD CATHEDRAL
LEGAL AND ADMINISTRATIVE INFORMATION
Tru8tees
Mr DA Ba￿at
DrT D RoderiL*
Wg Cmdr P J Hereford OBE
Dr B J Roderick
Mrs E Hlllman
MrD(knn
Mrs l HovAett
Mrs N O'Byme
Mrs G Semple
I Wllmott
Very Re¢d S Brown
Mr P Grifffths
(Appo(nted 11 June 2022)
Charlty number
215663
Prlnclpal addreBs
5 College Cl¢isters
Hereford
Herefordshire
HR1 2NG
Independent examlner
Hawknns Prfday Ltd
5 Bridge Street
Hereford
HR4 9DF
Bankers
Central Board of Finance of th8 Church of England
Onekngel Lane
London
EC4R 3AB
Bardays Bank Ple
113 Broad Street
Hereford
HR4 9BH

THE FRIENDS OF HEREFORD CATHEDRAL
CONTENTS
Page
Truste88' report
Independent examinerfs reF
Statement of tlnandal adivibes
st8lemenl of finanual p0s￿on
Notss lo th8 ffinan0￿ statements
10-18
Detai19d statement of finanoal al*¥￿"e5
19

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustee8 wasenl their annual report arKI financial statements for the year ended 31 December 2022.
The financial statements have b*n prepared in accordance Trmth the accwnling policies set out in note 1 to the
finanoal slalemenls and comply with the ¢hariVs goveming documenL th8 Charilias Act 2011 and 'Accounling and
Reporting by Charities.. Statèmanl of Recommended Practice applicable to charities preparing their accounts in
accor(Sance ￿th the Finanaal Reporting Standard applicabla in tho UK and RepubliG of Irdand {FRS 1021. las
amended for accounttng periods ￿MmenC1r￿j from 1 January 2016)-
Objectlveg and actIvF￿98
The Objgcts ofthe Charlty
11 To encourage the sxjmmunity in gener8J, and persons of the Diocese In parlicular. to intere8t themselves in
Hereford Cathedral, ils preuncts. worship, music, hislwy and education.
21 To maintain or assist in maintaining the fabric and fvmishings of the Cathedral. and to supplement the resour¢8&
of the Dean and Chapter available for sud) maintsnanc8.
31 To undertake any such work as shall, in the oynion of the Board of Trustees, improve and beautify th& Cathèdral,
ils precincts, worship, music and education. subjectto the consent of the Dean and Chapter.
4> To receive subscriptions and donations arNJ to raise fvnils for all or arry of the oblècts of the Society and to
eyFend them in such manner as the Souety shall think fft.
S} To do all such Ihlngs as are conclusNe or anallary to the carying out of 8ny of the SociW8 objects.
Alm8 of the Charity
To foster interest in the care and preservation of Ihe Cathedral through the financing of particular projects and by
involving m8mbers and others in acbwbes airaryed by Ihe Friends in Ihe dirxese.
l our charitable activlti8s are undertaken lo fvrther our charitable purposes for th8 public b8nefil.
Maln objectlve for the year
Routine support, such as the Choral Grant, continued during the year but addilionally a pledge was given to mark
the 90th Anniversary of the formation of the Friends to make £90,000 available for a major project to be agreed with
the Dean and Chapter and in accordance wth the Friends, objec*s. That apart, the Friends 8re commilled to support
various current and futsjre projects of the Dean and Chapter.
Charlty's 5trategles
To maintain the investm•its of the Charrty to promde adequate income to ￿rrent and futurè profvcts.
Slgnlflcant Actlvltles
These are detailed in th8 89th annual report to the members for 2022-23.
Publ1¢ bènoflt
In drafting this report, the Trustee5 have complied ¥￿th the dlty in Section 4 of the Charithes Aet 2011, to have due
regard to publlc benefft guidance pubEished by the Chartty Commission_ 11 does this by assisting in the work of the
Cathedral linduding worship, fabric, 8ducation).
Volunteers
All adivities rely on the contn'bution of v(Aunteers to take pl￿. The volunteers are mainly the trustees but may
also indude Other mernbers of the charity.

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Achlevements and perfomiance
11 was wth CDnsid&rable relief that th8 Cathedral and th8 Friends. Sooety were able. along with the rest of th& world,
to return lo some form of normality after the 'Cowd Years.. By the nature of the Cathedral's actNilios and the
unpredictability of donations and legacies there is inevitably a variation in our financial and related achievements
and perfomiance year on year and 2022 followed that pattem. The Events Team were delighted to be able to clear
the backlog of postponed events and actlvities. not lea$t thè thrtce postponed major residents'al pibrimage lo
Canlerbury. The appeb'te of the Friends for opening up was ewdenl in the popularty of th8 8V8nls. Our belief, that
the careful husbandry of ff nances built up over the years shoukl C£*ntinue, certainly paid ofl, It is a distinctive feature
of our work and has proved its Worth as we hope lo asslst In ensuring the long-term future of gur Cathedral. To this
ond the value of our investments has now broken half a million pound5 albeit giving the Treasurer some pause lor
thcwght as the market value of the investments slumped as a result of the various world cnses. Nevertheless, the
investments conkn'nue lo generate a comfortablo additi¢Thl inc(rfne.
Although at a reduced lev81 th8 Fri8nds were able to aswst th8 Dean and Chapter with grants of nearty £18,ODO
during the year. This was prinrypally throl￿h the annual Choral Grant of £15,000. Of course. thore was 8150 the
pledge of £9CI,000 lo Dean and Chapter at the Annual Genera Meeting of The Fri8nds in June 2022 to rrork the
90th Anniv8rsary of the Friènds. Soaety-
As w811 as providing financial gJJpport lo the catt￿￿ra1. the Trustees arranged a s￿eS of events for members with a
social and educational wrpose. A8 MentiC￿ed above the residential pilgrimage to Cantsrbwy in c*bration of the
Two Thomases, whlch was originally planned for 2020. at last took and proved ID be a memorable occasion.
Similarfy, the eagerfy ant¢upale(I vI￿t to Churches in Monmolthhire with Tim Bridges eventually took place
y8ars late. Along wth the usual excellent series of lecaures laid on by the Events Team during the year, the Friends,
Weekend Festival Incorp￿atIng the Annual Gen&rd Meeling resume(l its customary formal with members returniThJ
from far and near to cdebrate Ihe 91)th Anniversary and Ter￿W old acquaintsnces.
Control factors
By regular reporting lo the Trustees the current finarmxal posrbon is adequatety monitored.
Flnanclol revlew
Results for the year
For the year ended 31 Decemtser 2022 net movement in funds amounted lo £54,028 (2021: £85,084). Net asgels
amounted to £e60,46212021.' £606.4341.
Details of the financial posibon of the Charity are sel tyjl in the follLwng 8cwJnts.
It Is the policy of the {*￿rity that unrestricted furKls whith hav8 not been designated for a Spe￿fiC use S￿ul￿ ba
maintaine¢J at a level equivalent to between three and six mLth's expenditure. The trustees consider that reserves
al this level wll ensure that, in the event of a significarrt drop in funding, they will b8 ab18 to conb'nue th8 charity's
cutrenl activities while consideration is given lo ways in Ithich additional funds may be raised. This level of resetves
has been mairttsined throughout the year.
Reserves Pollcy
Al the balance sheet date thg Charity held £660.462 (2021.. £￿.434) of unrestricted reserves. The Charity raains
the level of resources lo ￿SUre that capital is adequate to FKovKle income lo meet its regular donations. Of this
figure, £529.118 12021.. £506,543} is held in fixed asset investmonts. These investments generate income lo be
Used in support of the Dean and Chapter.
Free reserves amounting to £131,34412021.' £99.891} enatrAe Ihe Charity to (£rry oul its day to day actlvtlles. These
were excessive al year end due lo our recent receipt of a substantial legacy and the Treasurer and Flnance
Committee are xtively pursuing a suitable fomi of short temi investsn6nt fur thes2 fund5.

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Prlnelpal Fundlng Sources and Investment Pollcy
The long-lemi aim is lo follow a knw-risk strategy conststent with protecting and enhanThng the Charlty's financial
re80urces. Our invesbnenls are therefore diversffied as far as possible. About on8 fifth of the finances arè
customarily held in cash deposits, of which around a quarter is with the Central Board of Finance ICBFI. Al the start
of 2022 and In anticApalion of the settir#J aside of £90,000 as a 90th Anniversary ¥edge to support a major project of
th8 Dean and Chapter, we invested a I[￿her £100,000 in CBF Investment Fund AccumulatiDn Units to be drawn
upon whèn the proieet is realised wthout havtng to touch our main core investments. These investments are in a
range of stocks 8ncl share5 funds held wth the C8F and administered by the Investment managers CCLA
IChurch8s, Charities and Local ALthoritiesl. Thè advantage of this form of investment is a higher rdle of return, bul
it Is important to remember that these Islock Exchangel investments ar& d@sign￿ lo last for al least 1 (k15 years,
thereby giving the polontial long temi caFxtal gro1￿￿ as well as higher annud rates of retum compared with cash
deposits.
The Irusl8es have assessed the m8lor risks to which the chanty is exposed. and are satisfied that systems are in
place to mitigate exposure to the major risk8.
Plans for future perk)ds
Future plans
11 remalns the poliw of the Friends to continue its pr￿jramMe of carefijl firta￿al husbandry in ￿der lo contribute to
the work of the Cathedral, its precincts, fabric. worship. music, history and education. Tho Friends will conb.nue lo
encourage wida parbcipation in and supwt of the ofthe Dean & Chapter.
Structur8p governance and management
Th8 charity 18 conlrdled by its governing document is regIst￿ed the Charity Commi%son and constituteg
an unincorporated chartty.
The s￿ety was formed 90 year8 2go, in the autumn tsf 1932, for the purpose of g8thering round the Cathedr31, in
ssocialion with the Dean and Chapter, a body of sJJpporter5 who were anxious to tske Some share in caring for il
and preserving il for poslerily. Regulations were revised in April 194S, amended January 1979 and June 2006 and
revised further June 2013. In 2Ct18 the Counol and thè Executive Committee reviewed the constitution and
govemance and agreed on a rationalisation of the comm¢it* structure vthich will now have one committee lo be
known as the Board ofTruste8s. The consb"tutional amendmenlg wère caffied nem. con. at a Special Meeting of the
Friends, on 20 October 2018. The new Congtituhon came into effect immediately and thg Chgrity Commission wa5
infom)ed of the changes. Finally, there were minor administrative amendmerrts to the Constilulicn implèmenle
nem. con. at the Annual General Meeting on 11 September 2021.
The Iruslees who sorved during the year and up to the date of signature of the finanaal 81atements were:
Mr DA Ba￿at
OrT D Roderick
Wg Cmdr P J Herefud OBE
Dr B J Roderick
Mrs E Hillman
Mr P R Harris
Mr D Owen
Mrs l ￿￿ett
Mrs N O'Byrne
Mrs G Semple
Mrs I ￿lIMOtt
Very Retrd S Brown
Mr P Griffiths
IResign8d 11 June 2022)
(Apwinted 11 June 2￿2)

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
R8cruitmgnt and appolntment of new Trugtee9
Trustees are selected from those members of the Friends who 8re already dosely involved in the work of the
Frfends and who partiapale in Calh8dral and Diocesan ￿1vIlle$. Nominations fc)r all the 0￿￿erS and Iruslee
vacancies are r8ceived prior to theAGM and are then dected by majority during the AGM.
The Dean of Hereford. as appoinlgj by Hereford catt￿1r￿, is an ex-offiiio trusle8.

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Organl8atlonal structure
The decision-making body of the Friends were until 20 Odober 2018 the Executtve Commrtt88 and Counal, but
after that dale, as slated above, there is a &nyle b*. the Board of Twstees. wP#) havé sole re5ponsibillty for th
work and funds of tre Friends.
Thè admlnislralion of the Fri￿d$ is ccwrdinatwl by the Secretary, with the Treasurer responsible for finances and
accounts, the Events, Secretary responsible for planning and arranging social events throughout the year, and the
Membership Secretary for maintaining the membership records.
Charlty Organlsatlonal Structure
Presldonts
Th8 Rl Rev'd The Lord Bishop of Hereford
The Lord Lieutenant of Herefordshire
The Lord Lieutenant of Shropshire
Vlce-Presldents
The Very Rev'd S Brown D8an of Hereford
Honorary Vlce-Presldents
Mrs J Chase M8E
The Very Rev'd M Tawnor Dean Emeritus of Hweford
Board of Trustees
Offlcers
Chalrman
Mr D A Barrat
Vlce¢hairTnan
Dr B J Rodertck
Hon. Treasurer
Wg Cdr P J Hereford OBE
Hon. Secretary
DrT D Rodarick
Hon. Membershlp Secretary
Mrs E Hillman
Hon. Events. Secretsry
Mrs l How]ett
Caterlng Secr8tary
Mr D Owen
Elocted Members
Mr P R Harris lunlil June 2022)
Mrs N O'Byrne
Mrs G Semple
Mrs I Willmott
Mr P Griffiths (from June 2022)
Ex-offlclo Trustee
The Very Rev'd S Brovm Dean of Hereford
Inductlon and tralnlng of new tru$tegS
The Trustees attend regular ￿m￿tttee meetings and share in dis(yJssron and deasion making at these meetings.

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees, ￿port was approved by the Board ofTrustees.
Mr D A Barrat
Trustee
Date..

THE FRIENDS OF HEREFORD CATHEDRAL
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE FRIENDS OF HEREFORD CATHEDRAL
I report to the trustees on my examination of the finanaal statements ofThe Friends of Hereford Calhodral Ith
charity) for the year ended 31 De¢ember 2022.
Rosponslbllltles and basls of report
As the trus18es of th& tharity you are responsille for the preparab.on of the financial stsiernents in ￿ordanCe
th th¢ ￿qUIrementS of tha Gharities Act 2011 Ilhe 2011 Ac*).
I report in respect of my exam1r￿tIOn of the tharity's finarriat ststements carried out under section 145 of the
2011 Ad, In carrying out my examination I have folk)wefl all the appJi¢able D￿r￿li0n$ giv￿ by tho Charity
Commission under section 145151(bl of the 2011 Act.
Indgpgndgnt examlnèfs statsment
Your attenb'on is drawn to the fact that ￿ tharrty has prepared finanual statements In accordarce wlh
Accounting and Reporting by Chariknes preparing their acccxjnls in accordanc£ with tho Financial Reporting
Standard ap￿ICable in the UK and Republic ol Ireland (FRS 102} in preference lo the Accounting and
Reporting by Charities.. Statement of Recommended Pra￿1￿ issued on 1 April 2005 which is referred to in the
extanl regulations bul has now been wfÉhdrawn.
l understand that this has been done in order for financ?a 5tat8mwts lo prowde a true and fair vlew in
acLordanc8 With Generally Accepted A￿untIng Practlce effective for reporting periods beginning on or after 1
January 2015.
I have completed my examinab'on. I c(Mffimi that no matters have (xjme lo my attention in conn8Ction with the
examination giving me cause lo b81KgVe that in any malerfal respect..
actounting records not kept in rèspect of the tharity as requi￿ by section 130 of the 2011 Act,. or
the finanaal statements do not accord th those reeords., or
the financial ststemenls do not comply the applicable requ1￿mentS ￿ncemIng thè lomi and content
of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement
that the a¢counls give a true and fair view which is not a matter considered as part of an independent
examinalion.
I have no concems arKI have come across no other mattets in rnnngction with the examination lo vA)ich
attention should be drawn in thi$ report in order to er￿le a p¥oper understsnding of thè firffjncial stalemgnls to
be reached.
Mr Kelvin Paul Alexander FCCA
Hawkins Priday Ltd
Chartered CertifiedAccounlants
S Bridge Street
Hereford
HR4 gDF
Dated..
2010312023

THE FRIENDS OF HEREFORD CATHEDRAL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestrlcted Unrestrfcted
fund8
funds
2022
2021
Notes
Donations and legacies
Subscriptions
Investments
Publleity and events
117,462
6,782
14,243
43,601
4,129
7,141
14,577
12.243
Totsl Incomo
182,088
38,090
Publicity and events
25.748
1.075
Charitable advttigs
24,011
20,184
Olh8r expenditure
10
876
265
Total oxpendtture
50,635
21,524
Ngt gainsl{lossesl on Investments
11
IT7,4251
68,518
Ngt movomgnl in funds
54,028
85,084
Fund balance5 at 1 January 2022
6C6,434
521,350
Fund balances at 31 December 2022
e60,462
606,434
The statement of finanoal acti¥Akn'es indudes 811 gains and losses recognised In the year.
l income and expendrture derive from continuing 8c*viknes.

THE FRIENDS OF HEREFORD CATHEDRAL
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022
2022
2021
Notes
Flxed assgts
Inv8stments
12
529.118
506,543
Current assets
Trade and other teceivables
Cash at b8nk and in hand
13
5.OiKJ
136.734
5,245
121.616
141,734
(10.39))
126.861
126,9701
Currgnt Ilabllltles
14
Ngt current assets
131.344
99,891
Total assets less current llablll￿fjS
660.462
606,434
Income fund8
Unrestricted funds
660,462
606,434
660.462
606,434
The financial statements were approved by the Trustees on.........................
Mr DA Barra
Trustee

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountlno pollclos
Charlty Information
The Friends of Hereford Cathedral is 8n unl￿p￿ated charlty and its ￿n￿PaI address is stated on the legal
and admini8trative infomiati'on page.
1.1 Accountlng conventlon
The financial statements have been prepared in acurd8nce y￿¢h the tharity's governing document, the
Charities Act 2011 and 'Accounling arKI Re￿￿ng by Charities.. Statement DI R8comm8nded Practice
applicable to charib'es preparing their accounts in acoydan(* wth the Financial Reporting Standard
applicab[& in th8 UK and ReputAic of Ireland {FRS 1021" las ametvjed for a￿untIng pgriods commencing
from l January 2016). The charbty is a Public Ber￿fft Entity as defined by FRS 102.
Thè charity has taken advantage of ￿ proviwons in the SORP for charlties ap ￿￿ng FRS 102 Updats Bull&dn
1 not to prepare a Stslement of Cash Flow$.
The financial slalements have departed fr￿n Ihe Charities IAcccMJnls and Reports) Regulations 2008 only lo
the extent required lo provide a true and fair wew. This d8partufft has involved followng the Slalemert of
Recommended Practice for charities apptying FRS 102 rather than the version of the Statement of
R￿0MMended Practice which Is referred to in the Regulations bul which has since b&en w[thd[￿vn.
The finanoal statements are prepared in sterfing, which is the fu￿tIOnal cutyenw of the charity. Monetary
amounts in these fIrtan￿al statement5 are rounded to the nearest £.
The financial slalemenls have been prepared under the historical cost convention, with th8 eXC8Pt￿n ol
certain financial instruments whith are induded at th￿r fair value. The principal accounting polioes adopted
are set out below.
1.2 Golng concern
At the time of apprDying Ihe finanual slalements. the trustees have a reasonaLle èxpectation that the charity
has adeql￿e resou￿¥ to conb'nue in Operati¢￿al existen¢e for the foreseeable fLrture. Thu8 the tr￿le&S
continue to adopt the going concem basis of accourTbng in preparing the financial stslements.
1.3 Charltsble funds
Unrestrict&l funds are available for use al the discretion of thè trustees in fvtherance of their charilable
objèctives.
Reslrided fvnds are subje(X lo specrfic Cond￿On$ by dor￿r5 as lo how they may bè used. The purposes and
Uses of the restricted funds are set (Art in the notes lo the finanaal statements.
Endowmènt funds arè subject to specrfi¢ ¢(￿l￿.0n$ by donors that Ihe capital must be maintained by the
charity.
1A Income
Incomè is recognised when the charity is legally enbued lo it after any perf0m￿n(£ condibons h8ve been met,
the amounts car) be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt Other donabon5 are recognis8d once the charrty has baen nolifled
of the donation, unless perfomiance conditions rè]uire dèfeffal of the amount. Income tax recoverable in
relation lo donations received under GtftAid or deeds of coven8nt is recognised at the time of ils receipt.
LegaThes are recognised on receipt or othemse rf the d)arity has been notifi￿ of an impending distrtbulion,
thè amount is known, and recelpt Is expected. IF the amunt is not known, the legacy is tiealed as
ntingent asset.
10-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR fHE YEAR ENDED 31 DECEMBER 2022
Accountlng pollclès
Icontlnugdl
Deferred income Indudes amounts le￿l¥ed in respe(* of trips and 8venls lo be undertaken in the rExt
flnancial year.
Subscriptions are accounted for only when they a￿ received. knfe members. subscriptions ar& taken into thè
Incorne and expenditure account in ten equ￿ inslalments o)mmencing in the year of receipt.
Investment income has been indud8d on the dale payable and bank deposit Inte￿81 has been included on
the awruals basis.
1.5 Expenditur•
Liabilitigs are rKognised 88 expènditure as soon as thwe 15 a legal or constructive obligation committing the
tharity to that expenditure, 11 is probable that a transfer of o￿nomiC benefits will be required in setuemenl and
the amount of the obligab.on can be measur8d rdiably. Expenditure is accounted for on an accruals basi8 and
has been classrf18d under headings that aggregate all costs retated lo the category. Where costs cannot be
directly attributed lo particular headin95. tsy have been allocated to acti¥￿e5 on a basss Consistent wlh the
use ol resCu￿s.
Grants offered subject to corKlitions vthich have not been met at the yèarend dale are noted as a cemmitment
bul not accrued as expènditure.
1.6 Non.¢urrent Investments
Fixed asset Investments are in￿￿ty measu￿d at transaction price 8xduding transactlon Costs, and are
subsequently meosured al fair value at eath reporbng dale. Changes in fair valu8 are recognised in net
incomellexpendilurel for the ye¥. Transaclion costs are expensed as in￿rred.
1.7 Cash and cash equlvalents
Cash and cash equivalents indude ￿$h in hand, deposits held at call wth banks, other short-lemi liquid
investments with original malurtties of three month5 or less, and bank overdrafts. Bank overdrafts are shown
thin borrgwings in current liabil￿e$.
1.8 Flnanclal Instruments
The charity has elected lo apply the provisions of Section 11 '8asic Finan￿al Instruments. and Section 12
'Olher Financial Instruments Issues, of FRS 102 lo all gf its ffinancial inslwm&nts.
Finanaal instruments are recognised in the Charitys balance Sheet when the charity becomes party lo the
contractual provisions of the inslrument.
Financial a&88ts and lialilthes are offset, ihe net amounts pr￿nted in the ffnand81 gtalements, wh8n
there is a legally enforTrable right to set off the recognised amounts and there is an intention Ic) setue on a net
basis or to realise the ass81 and setue the liability StmulL￿e0us1y.
Baslc flnanclal assets
Basic financial assets, whlch include tradè and other receivable5 and cash and bank balances, are initially
measured al transaction price induding transaction wsts. Finawal assets c18ssified as receivable within one
year are not amortised.
11

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountlng pollci
Icontlnued)
Basic financial liabililigs
Basic financial liabilities, induding trade and other payables and bank loans are initially racognised al
Iran8aclion kyice unless the arrangement wnstitutes a fjnanung tran8actton. Finan￿al liabilities classified as
payable withln one year a￿ rK)t amorb"sed.
Trade payables are obligations to pay for goods or serwces that hav8 been a￿ul￿d in the c*dinary coursè of
operalions from suppliers. Amounts payable are dassified as rJJrrent liabilil'es if payment Is due within one
year or less.
1.9 Taxatlon
The charity is exempl from c(*V(￿lOn tax on ils tharrttit￿e athities.
Donatlons and legacle6
Unrestrlcted Unrestricted
nds
fund5
2022
2021
Donations and gifts
Legacles receivable
3,030
114,432
2.157
1.972
117,462
4.12g
Legacies recelvablg
Rev W Massey
Mr R Backhouse
Ms J Slapl8lon
Dr R Parish
Mr L Chase
Mr E Btjlman
R Godsall
Ms M ￿ght
1,000
9.182
250
100,000
5,000
272
200
500
114,432
1,972
As at 31 December 2021, the charity had been notified of one residuary legacy the value of which is uncertaln
as the executor is taking steps to liquidate the assets in the &state.' however it is expected to be approxlmalely
£86,000. As al the y8ar 8nd of 31 December 2022. no lurther infO￿ation has been received and so this
legacy has not been provided for.
12-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Sub5crlptlons
Unrestrfctsd Unr8slrict8d
funds
funds
2022
2Q21
Membership subseriptions
6,782
7,141
Investm•nt8
Unrèstrleled Unrestrirted
funds
funds
2022
2021
Incorno from Ilsted investments
Interest r￿e1Vable
14,143
13,849
728
14,243
14,577
Publlclty and events
Unrestrlcted Unrestricted
nds
fund8
2022
2021
un
Staging fundraising events
25,748
1.075
25.748
1,075
13-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Charftsblo acuvltles
2022
2021
Annual TeFQrt
1,252
891
Grant fvnding of a￿'￿tieS (see note 7)
18,857
16,809
Share of support costs {8ee note 8)
Share of govemance costs (see note 8)
1,102
2,800
432
2.052
24,011
20,184
Grants payable
2022
2021
Grants lo Dean and Chapter of He￿IOn1 Cathedral:
- Choral grant
- Gardens
. Refreshments
- Toddlers group
- Chapter Room kitchen
tk)nations to chU￿he$
15,000
720
47
2,000
15,000
645
1,090
1,104
18,857
16,809
A pledge has been made of £90,CQO to Hereford Cathedral for a major project to be agreed wth tha Dean and
Chapter. Currently the pro1￿1 is awaiting agreement before thè grydnt is made.
14-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Supportcosts
Support Governancg
costs
2022
2021
Printing and stationery
Postage
569
533
569
533
90
342
Accountsncy & Independent Examinerfs fees
Printing and ststionery
Postag8
1,698
569
533
1,698
569
533
1,e20
90
342
1,102
2,80D
3,902
2,484
Analysed between
Charitable aLtivities
1,102
2,800
3,902
2,484
Prints'ng arKI stat￿nery and postsge have been allocated SO%..50% (2021: 50%'.50%1 be￿￿en support costs
and governance costs, which i8 consldered an appropriale sk4it according lo usage.
Governance costs includes payments to the actxuntsnts of £566 (2021.. £540} for independent examination
f88S.
Trustees
None of the trustees lor any persons conneGted with them) received aw remuneratic￿ during Ihe year, bul 6
of them were reimbursed a total of £2,999 exwses {2021'. 4 were reimbursed £1,078).
Trustees. expenses
During the year the following Trustees were reimbursed the followng expenses In rtlaliDn lo charitable
axpens8s incurred on behalf of the Charity.
Nature of expenses
Mr D Barrat
Mr D Owen
Dr B J RDd8rick
Mrs I Willmott
Mrs l Howlett
Mrs E M Hillman
Refreshments
Refreshments
Refreshments & event expen8es
Refreshmenls
Event expenses
Postsge, stakn'onery & event expenses
445
26
800
89
50
1s-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
10 Other expendSture
UnrgstrIGted
fvnd$
Total
2022
2021
Financing costs
Other eyoenditure
336
540
265
876
265
11 Net galnsl(108sesl on Investmants
Unre5tr1cted Unrestrictsd
funds
funds
2022
2021
Revaluallon of investments
177,4251
e8,518
12 Flxed asset Investments
Llsièd
Inve8tm&nts
C08t or valuatlon
Al 1 January 2022
Additions
Valuatiffi thanges
506,543
100.000
(77.4251
At 310ecembeT 2022
529.118
Carrying amount
At 31 Oecember 2022
529.118
At 310ecember 2021
506,543
2022
2021
Investrnents at falr value Comprise..
Investment Fund
Property Fund
UK Equity Fund
Global Equity Fund
Investment Fund Aciwmulation
171,347
41,089
93,099
129,721
93.862
193,948
45,830
115,981
150,784
16-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
12 Flxad asset Investmonts
Icontlnuedl
529,118
506,543
Flxed assot invosthienis revalued
Al funds are held by the Central Board of Finan￿ of Churth of England aThJ are valued as per the slod(
market al the year end.
The FTSE 100 8131 December 2022 was 745212021.. 7385).
Historical cost al 31 December 2022 was £379,35512021." £279.3551.
13 Tradg and other recelvabl
2022
2021
Amounts falling due wlthln one year.
Other receivables
Prepayments- Trips
5,000
5,245
5,000
S,245
14 Current Ilabllltles
2022
2021
Note$
Deferred income
Other payables
15
8,692
1,e98
25.350
1,620
10,390
26,970
15 Deferred Income
2022
2021
DefeThed income,. Lrfe membership
Deferred incom8.' Trips
4,040
4,652
5,197
20,153
8,692
25.350
Deferred income is Induded in the financial statements a5 follows..
Released to
Incoming
resources
At1Jan
2022
t)ef8rred in
the year
At 31 Dec
2022
Deferred Income
Life membership
Fundraising events and trips
5.197
20.1
{1,357)
200
4,(MO
Lrfe member¥hip subscriptions are fftleased in &]ual instalmenls commenctng in the year of ￿ceIpt.
17-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
16 Relatsd party transactlon#
There wer8 no disdosable related paty trans8th￿S during the year (2021- none).
18-

THE FRIENDS OF HEREFORD CATHEDRAL
DETAILED STATEMENT OF FINANCIALACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
2022
2021
INCOME AND ENDOWMENTS
Donatlons and legacle8
Donations
Legaaes
3,030
114,432
2,157
1,972
Charltable actlvltles
Subscriptions
Publicity and avènts
6,782
43,601
7,141
12.243
Invostmont Incomè
Dividènd income
Deposit account int8rest
14,143
100
13,849
728
Total Incomlng resour¢os
182,088
38,090
EXPENDITURE
Charltable actlvltles
Events
Printing, stationery & wstage
Annual report
Grants payable & don81ions
2S.748
1.102
1,252
18.857
1,075
432
891
1e,809
Governance
Accountancy
Printing, stslionery & postage
1.698
1,102
1,620
432
othfrr oxpendlture
876
265
Total resources expend
50.635
21,524
Net gain81llossesl on Investments
{77,425
88,518
Net Incomellexpendlture)
54,028
85,084
19-