Charlty reglstratlon numbfrr 215663
THE FRIENDS OF HEREFORD CATHEDRAL
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE FRIENDS OF HEREFORD CATHEDRAL
LEGAL AND ADMINISTRATNE INFORMATION
Trustges
Mr DA Barrat
Dr T D Roderi¢k
Wg Cmdr P J Hereford OBE
Dr B J Roderit*
Mrs E Hi11man
Mr D Owen
Mrs l Htrwlett
Mrs G Semple
Mrs I Wllmott
Very Rev'd S ￿v￿
Mr P Griffith5
Mrs S Wamer
{Appoinled 10 June 20231
Charity number
215863
Prlnclpal address
S College c1￿$￿TS
Hereford
Herefordshi
HR1 2NG
Indèpandent examlnar
Hawkins Priday Ltd
5 Bridge Streot
Hereford
HR4 9DF
Bankers
Central Board of Finance of the Church of England
One Angel Lane
London
EC4R 3AB
Barclays Bank Pl
113 Broad Street
Hereford
HR4 9BH
United Trust Bank
One Ropemaker Street
London
EC2Y 9AW

THE FRIENDS OF HEREFORD CATHEDRAL
CONTENTS
Pagè
Tru¥lees' report
Independent examinerfs repc
Stslement of finanaal activities
ststement of flnandal postbon
Notes io the financAal stslemer
10-18
Detalled statement of financial activities
19

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The trusleos present their annual ￿port and ffin￿al statements for thé year ended 31 December 2023.
The financial Statem￿lS have been prepared in accordance with the accounting policie8 sel out in note 1 to the
rinancial slalements and comply with the charitys goveming document, the Charttles Act 2011 and 'Accountlng and
Reporting by Charities.. Statement ol R8commended Practice applicable lo charthe5 pr8paring their acGDunts in
accordance with the Financial Reportrng Standard applicable in the UK and RepU￿1C of Ireland IFRS 1021. {ag
amendèd for aecounling periods commencing from 1 January 2016).
Oblectlves and actlvitie3
Thè Objècts ofthe Charlty
11 To encourage the community in general, and persons of th8 Diocwae in parlcular. to interest thpmselves in
Hereford Cathedral, ils precincts, worship, music, history 8nd education.
21 To maintain or assist in maintaining the fabric and fumlshings of the Cathedral, and to 8upplement the r&source8
of the Dean and Chapter available for 5uth maintenance.
3) To undèrtake any such Work as shall, in the opinion of the Trustses, Improve and beautify the Cathedral, f(8
precincts, worship, music and edU￿tKIn, subpd to the consent ofthe Dean and Chapter.
4} To receive subscrlptions and donations and to raise fvnd5 for all or any of the objects of the Society and to
expend them in such manner as the Sooety shall think fit.
5) To do all such thlngs as are conduwve or arrillary to the carrylThJ out of any of the Society's objects.
Alms of the Charlty
To foster interest in the eafe and preservabon of the Cathedral through the financing of particular projects and by
involving members and others in actiwties arranged by the Friènds in the di¢JrAse.
All our charitable adwilies are undertaken to further our chaTitable purpose5 for the public beneffil.
Maln objectlve for the yèar
The pledge Of £90,000 given to Dean and Chapter lo mark the 90th Anniversary of the lomiation of lh8 Friends
remains in reserva. The Dean and Chapter have yel to idenb'fy a suitable major project. The annual Choral Grant
was increased and now stands at £20:000 being the most signfficanl part ofth@ nèarly £37,000 granted lo D8an and
Chapter in 2023. That apart, the Fnends ￿ntinUe to support varrous current and fvlure projects of the Dean and
Chapter.
Charlty's strategles
To malntsin the investments of the Charity to provide adequatè income to finance current and future projects.
SlgnlFIGant ActivEiles
These are detsiled in the 90th annual report to the members for 2023-24.
Publlc beneflt
In drafting this report, tha Trustees have Complied wlh the duty in SedTon 4 of the Charities Act 2011. to have due
regard lo public b?nefil guidance published by the Charity Commission. It does this by assisting in the work of the
Cathedral {including worship, fabrK, education).
Volunteers
All acliwt'es rely on the eontribulion of volunteers to take place. The volunteers arè mainly thè trustee8 but may
also include other members ol the charity.

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Achlevements and pgrfonnancè
By Ihg nature of the Cathèdral's aclivitieg and the Unpredi￿ablIty of donations and lega￿88 there Is Inevltabty 8
variation in our financial and related achi8vements and performance year on year and 2023 followed that pattem.
The Events Team were delighted to be back lo presenting a full programme of lectures and visits including the
annual rasidential pilgrimage, this year led by our new Dean in her'old stamping ground. of Pelerborough. The most
significant event in the Fnends ye8r, apart from the Annual Frignds weekend of course, was lo h05t the Annual
Conference of Friends of Cathedrals, Abbeys and Major Church8s, a biennial fo¥um for discussion and networking
amongst represenlalives of 811 the Friend organisalions throughwt the UK. It was a spectacular Success. generally
acclaim￿ by the delegate8 as the best ever.
Our belief. that the careful husbandry of finances bu1￿ up over the years should continue, certsinly paid off,
bolstered during the year by some substsntial prowsion made by deceased Friends in their wlls. Thegè make a
significant contribution lo the lon*lerm suslainabilty ol the organlsalion and enables us lo continue to Dffer
assistance lo Dean and Chapter in ensuring the long-temi ftrture of our Cathedral. The value of our investments
remains steady al over haff a million pounds, dèspite the stock mathet having a very bumpy ride duftng 2023 and
continues lo g•n8rate a comfortafAe add51ional annual income.
As stsl8d previously the Frietmls were able to assist Ihe Dean and Chapter with grants of nearly £37,000 durlng the
year. This was prinapally throL5gh the annual Choral Grant of £20,000. The pledge of £90,000 ID Dean and Chapter
lo mark the 90th Anniversary ol the Friends, Sooety remains in reserve pending the Dean and Chapter Idenllfying a
suitable proj8cI. A new departure for the Friends was lo support the outreach mission ol the Dean aThJ Ghapler. The
exciting initiative of thè Chancellor to stage a Hereford Passion Play in 2024 attracted £6,000. Support was given to
the children's mission and also a ￿rsary lo enable thildren from the diocese to visit the Cathedral. Further support
was given to the sterling team Df volunteer gardeners for maten'als to maintain lh8 Cloister, Ch8Ptw House and
Canons, gardens, and lo the volunteer flower ladies who decorate the Cathedral IhroughoLrt the year.
As well as providing finand81 support to the Cathedral. the Truslees arranged a series of events for members with 8
social and educational purpose. As well as the residèntial pilgrimage to Eastem Abbeys and Cathedrals led by th&
Dean who, before coming lo Hereford. was Canon Missioner al Peterborough Cathedral, there was the usual
excellent sèries ef lèctures laid on by th8 Ev&nts Team throughout the year. Th8 Friends, Weekend Festival
incorporating the Annual General Meeting in June look on its customary fomial with members coming from far and
near lo renew old acquatnlances and the Annual ConfeTen¢e of Friends of Cathedrals, Abbeys and Major Churthes
in October, mentioned above, was a resounding success.
Control factors
By regular reporttng to the Trustees the eurrenl financial p0s￿On is adequately monitored.
Flnanclal review
Rèsults for the year
For the year ended 31 December 2023 net movement in fiJnd5 amounted to £158.81712D22.. £54,028). N81 assets
amounted to £819:27912022'. £fjSO.4621.
Details of the financial position of the Chanty are $81 oui in the foll¢)wing accounts.
11 is the policy of the charity that unrèstricted funds wthich have not been designated for a speufic use should be
maintained al a level gqLJivalent to befv￿en three and six month's expend(ture. The Iruslees consider that reserves
al this level wll et)sure that. in the event of a ￿gnthcant drop in funding, they will be able to continue the charity's
ojrrenl adivities while Consideratiort is given tQ Wdys in which additi.onal hJnd5 may be raised. This level of reserves
has beèn maintained throughout the year.

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Reserves Policy
Al the balance sh881 dale the Charity held £819,279 {2022.' £660,462) of unrestricted reservos. Th6 Charity retains
the level of resources to ensure that capital is adequate to provide income lo meet its regular donations. 01 this
figure, £583,754 12022.. £529,118) is held in fixed asset investments and £85,000 (2Q22= £DI in cash deposits.
These investments generate income lo be used in support of the Dean and Chaplgr.
Free reserves amounlirkg ID £1 $0,525 (2022.. £131,344) enable the Charity lo carry out ils day to day activitses.
These were excessive at year ènd due lo our recent r￿pt of a substantial lagacy and th8 Treasurer and Fin8nce
CDmmittee are acb'vely pursuing a suitable fom of short term investment lor these funds.
Prlnclpal Fundlng Sources and Investmènt Pollcy
The long-lem aim is lo follow a low-risk strategy conslstenl Vrfith protecting and enh8rriny the Charity's financial
resou￿5. Our investments are therefore diversified as far as possible. About one fifth of the finantès are
ojstomarily held in cash deposits, of which around a quarter is with the Central Board of Finan￿ ICBFI. Al the start
of 2023 and in antiapalion of th8 setb.ng aside of £90,000 as a 901h Anniversary pledge to support a major project ol
the Dean and Chapter, we invested a furthèr £100,000 in CBF Investment Fund Accumulation Units to be drawn
upon when project is raalised withoui having lo touol our main core invesiments. These investments are in a
range of stocks and shares funds held vKth the C8F and administered by the inv25tmenl marbagers CCLA
(Churches, Charities and Local Authorib'esl. The advantage of this fom of investment is 8 higher rdle of rtlum. bul
it is important lo rernember that these (Stock Exchangel investments are desgned lo last for at least 1 fv15 years,
thereby giving the potèntial for long teThn ￿PIl81 growth as wdl as higha annual rates of relLtrn thmparad with cash
deposits.
The Iruslees have assessed the major risks lo which the chaity is exposed. and are satisfied that systems are in
place lo mitigate exp0￿re to the major risks.
Plans for future perlods
Future plan$
11 rem8ins the policy of the Friends to continue its programme of careful financial husbandry in order to contribute lo
the WOTk ol the Cathedral, its precincts, fabric, worship, music. history and education. The Friends will conts'nue to
encourage wide participab'on in and support of the policy of the Dean and Chapter.
StruGture, governance and management
The charity is controlled by its governing document thich is registered th the Charity Commission and conslilules
an unincorpomtsd tharity.
The sO￿etY was formed over 90 years ago: in the autumn of 1932. for the purpose of gathering round the
Cathedral, in association with the Dean and Chapter, a body ol supporters were 8nxiou5 to lake some share in
caring for it and preserving il for posterity. Regulatsons were revised in April 1949, amendèd January 1979 and June
2006 and revised further Jun8 2013. In 2018 the Council and tho Executive Committee reviewed the CO[￿tilU110n
and governance and agreed on a rab'onalisalion of the committee structure which will now hav8 one committee to
be kno￿ as the 3oaid of Trustees. The conslilutional amendments were carried nem. con. al a Special Meeting of
the Friends, on 20 October 2018. The new Conststution came into effect immediately and the Charity Commission
was informed of the changes. Finally, there were ty￿ minor administrativè amendments lo the Constittjtion
implemented nèm. con. 81 the Annual General Meetsng on 11 September 2021.

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The trusle8s who served during the ye8r and up lo the date of signature of the finanaal stalemenls were..
Mr D A Barrat
Dr T D Roderid(
Wg Cmdr P J Hereford 08E
Dr B J Roderick
Mrs E Hillman
Mr D Owen
Mrs l H￿ett
Mrs N O'Byme
Mrs G Semple
Mrs I Willmott
Very Rev'd S Brown
Mr P Griffith$
Mrs S Wdrner
(Resigneil 10 June 20231
(Appointed 10 June 20231
Rg¢ruStment and appolntment of new Trustees
Trustees are selected from those members of the Friends who are already dosely involved In the work of the
Friends and who parttcipale In Cathedral and Diocesan actiwties. Nominations for all the officers and Iruslee
vacancies are reeeived prior lo the AGM and are th8n eleded by majorty during tha AGM.
The Dean of Herèford, as apwnted by Her8foTtI Cathedral, is an ex-officao trusleg.

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Organl$at]onal structure
The decision-making body of the Friends were until 20 Oclober 2018 the ExeeutNe Committee and Council, but
8ftèr that date, as staled above. there is a single body. the Board of Tnjstees. WI￿ have sole responsibility for th8
work and fijnds of the Fnends.
The administration of the Friands Is co-ordinated by the Secrelary. wth thg Treasurer responsible for finances and
accounts, the Events, Secretary responsible for planning and arranging social events throughout thè yèar. and the
Membership Secrelgry for malnlaining the membership record5.
Charlty Oryanl$ational Structsre
Prosidonts
The Rl Rev'd The Lord Bishop of Hereford
The Lord Lieutenant of Herafordshire
The Lord Lieutenant of Shropshire
Vlce-Presldants
The Very Rev'd S Brown Dean of Hereford
Honorary Vlco4residents
The Very Rev'd M Tavinor Dean Emeritus of Hereford
Mrs J Chaso MBE (deceased)
8oard of Trustees
Offlcers
Chalm)an
Mr D A Barrat
IC8thChalrnian
Dr B J Rodèrick
Hon. Troasurer
Wg Cdr P J Herèford OBE
Hon. Secretary
Dr T D Roderick
Hon. Membershlp Sècrétary
Mrs E Hillman
Hon. Events. Secretary
Mrs l Howlett
Caterlng Secretary
Mr D Owen {unll June 2023}
Mrs G Semple (from June 20231
Elocted Member5
Mrs N O'Bym8 (unknl June 2023}
Mrs G Semple (until June 2023)
Mr D Owen (from June 2023)
Mrs I Willmott
Mr P Griffrths
hArs S Warner (from June 20231
Ex-offlclo Trustee
The Very Rev'd S Br(Y•vn Dean of Her8ford

THE FRIENDS OF HEREFORD CATHEDRAL
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Inductlon and tralnlng of new truSt￿S
The Trustees attend regular committee meetings and share in discussion and decision making at these meetings.
The trustees. reFX)rt was approved by the Board of Trustees.
Mr D A Barrat
Trusteo
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 finan￿21 statements of The Friends of Hereford Cathedral (the
charity) for the year ended 31 December 2023.
Rosponslbllltlès and basls of report
As the trustees of the charity you are responsible for the preparation of the financial statements in acGordarKe
with the rèqulrements of the Charrbe$ Art 2011 (the 2011 Acti.
I repprt in respect of my examination of the Charit￿s financial statements carried OLrt under sertion 145 of the
2011 Act. In carwng out my examination I have followed all the applicable Direction5 given by the Charity
Commis&on under section 14515llbl of the 2011 Act.
Independent oxamlnevs ststemènt
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with
Accounting and Rgporting by Charities preparing theii accourTts in acwrdance wth thè Finan￿al Reporting
Standard applicable in the UK and Republic of Irèland IFRS 1Q21 in preference to the Accounling and
Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 whlch 1$ refgrred to in the
8Xtant r8gulatims but has now been wtthdrawn.
l understsnd that this has been done in order for financial statements to provide a and fair view In
accordance with Generally Accepled Accountsng Practice effeebve for reporting periods beginning on or after 1
January 2015.
I have completed my examination. I confirm that no matters have com8 to my attention in 0]nn￿[lOn with Ihe
examination giving me cause lo believe that in any ma18rial respect..
accounting records were not kept in respect of the chaty as required by secuon 130 ofth8 2011 Act,. or
the financial statements do not accord wth those records., or
the finenaal statements do not comply swth the applicablè requirements wrKeming tho fomi and conlenl
of accounts sel out in the Charib'es {Accounts and Reports) Regulations 2008 olh8r than any requirement
that the accounts give a true and fair view is not a matter ￿nSIdered as part of an independ@nl
examination.
I have no C0￿M$ and have come across no other matters in ￿nn￿tiOn wrf(h thè examination to whlch
attention should be drawn in this report in order to enable a proper understanding of the flnancial slalgments to
be reached.
Mr Kelvln Paul Alexander FCCA
Hawkins Priday Ltd
Chartered Cerb'fi8dAccounlants
5 Bridge Street
Hereford
HR4 9DF
Dated..

THE FRIENDS OF HEREFORD CATHEDRAL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOMEAND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrlcted Unrestrlcted
funds
fund$
2023
2022
Notes
Income from:
Donations and legacies
Other trading acbwties
Investments
Publicity evènts
112.568
6,398
19.264
20,656
117,462
6,782
14,243
43,601
Totsl Incomo
158,886
182,088
Exp¢ndlture on:
Ra1slng funds
Charitable aclivits'es
Other expenditure
10,992
43,101
612
25,748
24,D11
876
10
Total expenditure
54,705
50,635
Net galnslllosses) on investments
11
54,636
177,4251
Net Income and mov&m8nt In funds
158,817
54,028
Reconclllatlon of funds:
Fund balances at 1 January 2023
660,462
6Q6,434
Fund balances at 31 Decomber 2023
819.279
660,462
The slalemenl of financial activtties includes all gains and losses recognised in the year. Al ineome and expéndituré
derive from continuing activitiès.

THE FRIENDS OF HEREFORD CATHEDRAL
STATEMENT OF FINANCIAL POSITION
AS AT31 DECEMBER 2023
2023
2022
Notes
Flxed assèts
Investments
12
668.754
529,118
Current assets
Trade and other rec8ivables
Cash at bank and in hand
13
3.613
153.742
5,000
136.734
157,355
6,830
141,734
10,390
Current Ilablll￿OS
14
Nel current assets
150,525
131,344
Total assots IBS currènt Il*biltti•s
819,279
660.462
The funds oftho charfty
Unrestricted lurÈds
819,279
66Q,462
819,279
660,462
The financlal statements were approved by th& trustees on ..........
MrD
Barral
Trustfye

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollclos
Charlty Informatlon
The Friends of H&reford Cathedral is an unincorporated charity and its prfncip81 address is 5talod on the legal
and adminislralive inlDrmalion page.
1.1 Accountlng convèntlon
The financial statements have been prepared in accordance with the tharity's goveming document, the
Charllies Act 2011 and 'Accounts'ng and Reporbng by Charities.. Statemènt of Recommendod Practice
appliGable lo charibes preparing their accounts in accordance wth the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102}. las amended for accounting periods ￿Mmenc1ng
from 1 January 20161. The chanty is a Public Benefft Ents'ty as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Updats Bulletln
1 not lo prepare a Statsmenl of Cash Flows.
The financial statements have dèparted from the Charitses IAceount5 and Reports) Regulation8 2008 only to
the extent required lo provide a ttue and frair view. This departure has involved following the Statement of
Re￿mrnen￿ed Practi￿ for charities applying FRS 102 rather than the version of th& Slatemerrt of
Recommended Practice which is referred lo in the R8gulats"ons but whith has since b80n withdrawn.
The finanoal statements are prepared in sterting. which is the fiJnctional currency of the charity. Monetsry
amounts in th8$e financial statements are rounded to the nearest £.
The financial statements have been prepared und8r historic81 cost convention. with the exceplDn of
Gertain finan￿al instruments which are induded at their fair value. The wincipal accounting PDliaes adopted
are sel out below.
1.2 Going concern
At the lime of approving the finan￿al statements. the trustees have a reasonable expeclation that th8 charty
has adequate resources to conh.nue in operational exi81ence for the foreseeable fvluro. Thus the IrLL51ees
continue to adopt the going OXJn￿rn basi5 of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discnb'on ol the trusteès in furtheran￿ of their charitable
objectives.
Restricted funds are subject to speafic condTb"ons by donor8 or grantors as to how they may be used. The
puiposes and uses of the ￿$trIcted funds are set out in Ihe notes to the financial stslem&nts.
Endowment funds are subjeL* to specrfic ￿nditIonS by donors that the capital must be malntained by the
charity.
1.4 Incomg
Income is recognised when the charity is legally enltued to It after any perf0mlar￿ conditions have been met,
the amount5 can be mèasured reliably, and rt is probable that irthme will be re￿ived.
Cash donations are recognised on receipt. other donations are recognised once the charity has been noliflèd
of the donaliorÈ, unless performan￿ condib"on5 iequire defetraj ol the amount. Income lax recoverable in
relation lo donations re￿iVed under GiftAid or dèeds of eovenanl is recognised al the time of tts receipt.
Legacies are r8cognis8d on receipt or OtheTh￿se rf the tharity has been nolifled of an impending dislributior¢,
the amount is known. arKI re￿pt is expected. If th8 amount is not known. the legacy is Ireal8d as a
corntingent asset.
10-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting pollcles
(Contlnuadl
Deferred income include8 amounts rec*ved in r8spect of trips and events lo bg und8rtaken in th8 t￿xI
financi81 year.
Subscriptions are accounted for only when they are received. Lrfe members, subscriptions are taken into the
Income and expenditure account in ten equal instalmènls commencing in the year of r8C8ipI.
Investment income has been induded on the date payable and bank depost interest has been included on
the accruals basis.
1.6 Expgndlture
Liabilikn'es are recognised as expend￿jra as soon as there is 8 legal or construth.ve obligat1on cornmlttlng thè
charity to that expenditure, it is probable that a trdnsfer of economic benefits will be required in setllement and
the amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accruals basis and
has been classified under headings that aggregate all costs related to the eategory. Whère costs cannot b$
directly attfibuted lo particular headings. they have beèn allocated to activities on a b8sis consl816nt with the
use ol resources.
Grants offered subject to conditions which have not been met al the year end dale are noted as 8 commitm6nl
bul not accrued as expenditur8.
1.6 Non-current Investments
Fixed asset investments are initially measured at transaction prFce exduding transaction costs. and are
subsequentty measured al fair value at each reporting date. Changes in fair value are recognised in nel
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.7 Cash and cash equlvalènts
Cash and cash equivalents include cash in harKI, deposrts held al call with banks, other short-lerm liquid
investments wrth original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings In cuNent liabilities.
1.8 Flnancial Instruments
Tho charity has elected to apply the provisions of Section 11 'Ba&c Finanoal Instrum8nts' and Section 12
'Olher Finanual Inslruments185ues' of FRS 10210 all of its financial instruments.
Firnancial instruments are recognised in the charitys balance sheet when the charity becomes paty to the
eonlraclual provisions of the instrumenL
Financial assets and liabilities are offset: wth the net amounts presented in the flnancial statements, when
there Is a legally enforc£able right lo sel off the recognised amounts and thwe is an intention to settle on a net
basis or lo realise the asset and settle the liabillty simuKaneously.
Baslc financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially
measurad at transaction prfice induding transaction costs. Financial assets das8ifi8d 38 r8ceivab18 Within one
year are not amDrtised.
11

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollclos
Icontlnuodl
Basic financial liabilities
Basic financial liabilities, including tradè and other payab￿$ and bank loans a￿ initially r8cognised al
transaction price unless the arrangement consltiutes a financirtg transaction. Finanaal liabilities classified as
payabl8 wlhin one yèar are not amortised.
Trade payables are obligat'ons lo pay for goods or services that have been acquired in the ordinary course ol
opèrations from suppliers. Amounts payable are dassified as current liabilib'es rf payment is due within one
year or less.
1.9 Taxatlon
The Charty is exempl from corporation tsx on ils chantsble aGtiviti¢s.
Donatlons and legacl8s
Unrestrlctad Unrestricted
funds
funds
2023
2022
Donations and gifts
Legaaes receN8ble
368
112.200
3,030
114,432
112.568
117,462
Logacles rgcglvable
Mr C Atffield
Mr R Backhouse
Ms J Stsplelon
Dr R Parish
Mr L Chase
Mr L Moss
Mrs J Bishop
Mrs J Piller
Mr E Parf(er
2QO
9,182
250
100,000
5,000
2,000
20,000
80,000
10.000
112,200
114.432
As at 31 December 2D23, the charity had been notiffed of one residuary legacy the value of whlch Is uncertain
as the executor is taklng steps to liquidate the assets in the estate., hLwRver it is expected to be approximately
£30,000. As al the year end of 31 December 2023. no further information has b8en received and SD this
legacy ha5 not been prowded for.
12-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from othortradlng actl¥ft188
Unrestrlct&d Unrnstrlcted
funds
funds
2023
2022
Membership sub￿riptionS
6.398
6,782
Income from Investments
Unrèstrl¢ted Unrestrl¢ted
nds
funds
2023
2022
Incomè frorn listed investments
Intere81 receivable
14,2
4,974
14,143
100
19,264
14,243
Expendlture on ra151ng funds
Unrestrlcted Unreslrlcted
funds
funds
2023
2022
Fundralslng and publlclty
staging fundraising events
10,992
25,748
Charftabl& actlvitlès
2023
2022
Annual report
1.378
1,252
Grant fundlng of actswtie¥ {see note 71
37,953
18,857
Share ol SUPPDrt Costs (see note 8)
Share ol governance costs (see note 81
994
2,776
1.102
2.8QO
43,101
24,011
13-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Grants payable
2023
2022
Grants lo Dean and Chapter of Hereford Cathedral..
Choral grant
Gardens
- Refreshments
- Todd18r's group
Flower Guild
Paving in Chapter House gar(len
Easter Passion Play
Educational Bursary
Donations t¢ Churthes
20.000
453
15,000
720
47
2,000
1,000
1,600
6,800
6,000
1,000
1.100
1.090
37,953
18,857
A pledge has been made of £90,000 to Hereford Cathedral for a major project to be agreed ￿th the Oean and
Chaptèr. Currently the project is awaf(ing agfeemenl Iiefore the grant is made.
Support costs
Support Governance
c¢)sls
costs
2023
2022
Printing and stationery
Postage
390
390
604
5S9
533
Accountsncy & Independent Examin8rfs fees
Printing and stationery
Postage
1,782
390
1.782
390
604
1.698
569
533
994
2,778
3,770
3,902
Anatysed between
Charitable actiwlies
994
2,778
3,770
3,902
Printing and stationery and postsge have t*en allocated 50%'.50Vo12022'. 50%.50Yol between 8UPPOrt Lt81s
and governance costs, which is considered an appropriate split according lo) usage.
G0Veman￿ costs indudes payments lo thè accountants of £594 {2022.. £5661 for independenl examinallon
fees.
14-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Trusteos
None of the trustees lor any persons connectad wrth them) re¢￿Ved any remuneration during the yèar, but 5
of them were reimbursed a total of £4,375 expenses {2022.' 6 were reimbursed £2.9991.
Trustees. expenses
During the year the following Trust8eS WOTe reimbursed tho following expenses in relation lo charrtabl6
expenses incurred on behalf of the Charity:
Nature of expenses
Mr D Barrat
Dr B J Roderick
Mr P J Hereford
Dr T D Roderick
Mrs E M Hillman
Refreshments & event expenses
Refreshments & event expenses
Event expenses
Event expenses
Postage. stsb'onery & event expenses
1,540
922
145
10 Othgr frxpondlture
Unrostrlctsd
fvnds
Total
2023
2022
Financing costs
Other expenditure
312
300
336
540
812
876
11 Galns and Eoss•$ on Investments
Unrestrlctèd Unr•$tricted
funds
fund8
2023
2022
Gainsluossesl ariwng on..
Revaluation of investments
54,636
177,4251
12 Flxed a5S8t Invgstsnents
15-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
12 FLxed asset Investments
Icontlnuedl
Llsted Cash or cash
Investm&nts equlvalents
Total
Cost or valuatlon
Al 1 January 2023
Additions
Valuation changes
529,118
529,118
85,000
54,636
85,000
54,636
Al 31 December 2023
583,754
85,000
6S8,754
Carrylng amount
Al 31 December 2023
583.754
85,000
868,754
At 31 December 2022
529,118
529,118
2023
2022
Inveglmenls al fair valu8 comprise..
Inveslrnent Fund
Property Fund
UK Equity Fund
Global Equity Fund
Investment Fund Accumulation
187,468
38,567
103,007
149,055
1C5,657
171,347
41,089
93,099
129,721
93,e62
583.754
529,118
Flxed asset investments revalued
All funds are held by the Central Board of Flnance of Church of England and are valued as per the stock
market al the year end.
The FfsE 1 OQ al 31 De¢emb&r 2023 wa5 7733 (2022= 7452).
Historical cost at 31 December 2023 was £379.35512022'. £379,355).
13 Trade and other recelvables
2023
2022
Amounts falllng due wlthln one year.
other receivables
3,613
6,000
16-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 Current Ilabllltles
2023
2022
Notss
Defe￿ed income
Other payable8
15
5,048
1,782
8.692
1,698
6.830
10.390
15 Deferr8d Income
2023
2022
Defe￿e￿ income.. Lrfe membership
Dafetred income.. Trips
3,242
1,806
4,040
4,652
5,048
8,692
D8ferred incom8 is indud8d in the finanoal statements as follow8:
Released lo
incoming
resources
At1Jan
2023
Deferred in
the year
At31 Dec
2023
Deferred income
Lrfe mernbership
FLJndr8ising events and trips
4.040
11,1981
400
3,242
Life membership subs¢yipt'ons are released in ten equal in5ts1ments commencing in the year of
receipt.
16 Related party transactlons
There were no disclosable rekted party transactions during the yeaf (2022- none).
17 Unrestricted funds
The unreslri¢teé funds of the charity comprise Ihe unexpended balances of donations and grants which are
not subjed ID specific condib'ons by donors and grantors as to how they may be used. These Indude
designated funds whith have been set a&de out of unrestricted fvnds by the tnsl88s for speafic purposes.
At 1 January
2023
Incomlng Resources
expended
Gain$ and
10ss0S
At31
December
2023
General funds
660.462
158.886
154,7051
54,636
819,279
17-

THE FRIENDS OF HEREFORD CATHEDRAL
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
q7 Unrestrfctod funds
IContlnued}
Prevlous year.
At 1 January
2022
Incomlng Rosourc
resou￿0$
expendod
Galns and
losses
At31
Docomb8r
2022
General fijnds
606.434
182.088
150,6351
177,4251
68Q,462
18-

THE FRIENDS OF HEREFORD CATHEDRAL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DEGEMBER 2023
2023
2022
INCOME AND ENDOWMENTS
Donatlons and legaclgs
Oonations
Legacies
368
112,200
3,030
114,432
Charltable actlvltlgs
Subscriptions
Publioty and evantS
6.398
20,656
6,782
43.601
lrtvestment Income
Dividend incom8
Deposit account interest
14,290
4,974
14,143
100
Total Incomlng rnsources
158,886
182.088
EXPENDITURE
Charltsblè actlvltle$
Events
Printing, stationery & postage
Annual report
Grants payable & donations
10,992
25,748
1,102
1,252
18,857
1,378
37,953
Govemanco
Accountancy
Prtnting, slalionery & postage
1,782
994
1,698
1,102
other expendlturè
612
876
Total resourcos expended
54,705
50,635
Net galnsl{los$esl on Inv8slments
54.636
177,4251
N•t Incomelloxp8ndltura)
158,817
54,028
19-