c.h 243439 THE FIUENDS OF ALISB RY THEDRAL PORT Af4D A FOR YKAREND£D 31 MARCH 2024 N . 243439 CONTK Report ofthe Executive Council Ststement ofRespoiisibi]ities of the Members of the CoullciI Report of the Indepeiident Examitw Statement of Financial Activities for tbe yeBr ellded 31 March 2024 Statement of Fin¢1 Activities for the year ended 31 March 2023 Balance Sheet as ar 3 1 March 2024 14. Notes to the AontS MOORE SOUTH LLP CHARTERED AC OUNfANTS SALtSBURY
THE FRIENDS OF SALISBURY CATHEDRAL R'r ri TUE IXECUTIVE COUF4CIL AS AT 31 LVIAR "H 2024 Patrons: The Rt Rev'd theLgrd Bishop of SalÈsbury HM Lord Li¢utenw)t (rfDorset HM Lord Lieutenatrt of WiltshÉre President: Th¢ Very lievd the De2n of sl8bUry Vict-Presidents', Rev'd Hugh Dickrynson Tht Very Re¢d Derek Watson The Kt Rev'd June Osborne The Mayor of Saltsbury The LeAder of Salisbury City Counol Lt Col H Keatinge OBE Membtrrs of the Exeeutiye Council: Elteted MembeTh: Ms J Higgs MY J Kelly Mr N C Lewi8 Mr J. March Mts L Walli5 MrP Wil]iams {retir September 2L123) (appoirnted S¢pteJnbw 2023) Chapter's Representative- TheRevd C8non K PAdIty Ar¢bdea¢onry Representatiyes: Wilts.. Satum. Dorset.. she0¢. Mrs K Sbearing Ms L Wallace Mr M Joseph Mrc Hamon (retired November 2023) Honorary Ch*ir', Capt D Glass OBE (retir September 20231 Ms L Wttllace (appointed September 2023) onorAry Tre4¥surer." Mr C B Dragonetti mebershiP Secretary: Mf D Brown OBE Pritteip#l Oficej.: Ms J Lever B Nmaylen (retired Dectbe[ 2023) (appointed December 2023) Addre5S: 338 Ladywell, The C1054 Salisbury SPI 2EJ Bankers.. Lloyds Baiik plo 38 Blue Boar Row. Salisl)ury CAF Ilank l.t4 25 Kilw Efill AveDue, West Malling Parker Bullen, 45 Castle Street. Salisbury Moore Sollth LLP. 33 The Clarendon Centr< Salisbury CCLA Investment MaJJage(nent, l An¥el Lat4 London EC4 M&G Chariti&%, PO Box 9038, Che]m8ford Soli¢itors-. Jndependent Examiners.. lov¢sto]eDt Managtts." Registered Number. Charity no. 2434J9
FRt£NDS OF LISBURY CATHEDRA REPORT OF THF. F.XF.CIIT AS A'I. 31 MAXCR 2024 The Menthers of the Executive Council present their atmual report Myth the &ccoukyts ofthe Association for the year eNled 31 Maich 2024, which have beerl prepared to comply Trqth the prolisfftons of the Clwitie6 Act 2011 and the Siatement ofRecommended Practice.. Accounting and Rq)orting by Chatiti&s (FRS102}. STRUCT VERL¥ANCE AND MANAGEMENT Constitution Charitable StAtus The Association of the Fllends of Salisbury Cathedral ig w utiincorporated aSlatiOn. governed by a constitution adopted 18 July 1968 as amended I l October 1980, 23 Septen]ber 1989. S October 1994, 18 Septe 2004, 17 Septembei 2014 and 17 September 2016. It 15 a Tr8iStered charity. aryl is bound by the provisions of the Charities Act 2011 and thc TTUStee Act 2000. Orgal$tio The management of the knoaation is deputed to the Executive Council. the member5 ofwhich are the trustees of the Qhatity. This coi)sistg of SLY Elletthet5 elected from tbeFriends, & i'epresentatiwe of the Cathedral Chapter four archdea¢ony representatives in the DI0S the holloi'ary treasurer and up to three ci)-OPted Encmbers. The inembers of the Executive counc durtng the year ended 3 1 March 2024 are shown on pag¢ l. Ivduction #lld Trainllng of members of the Ewlltzve CouDtil As part of their i[uCtion programe new members of the Extcthive CouLcil areproNided with introductton to th¢ obje£tiveg, scope 2nd policies of Èhe Agsociation, Cbartty Comt>)iBsion itifom18tion ontrnstee respoi)sbE iiities and copies ofthe prerrious threeyears of Executive Council an1 reports and accoullts tO8ether with details of the goverftitig documents. Coonecttd Charity The Associatoon is connected with Salisbl Catbarat whose worft it exists to support. It is, however. independent of Chapter (the &dInIStratIvt body ofthe CathedFai). Risk Mwiagement The Executive Council confim that the major risks to which the As5]tIOn is eKpose(L as identified bythe Council. have been reviewed tIt systetlls have been e5tab]ished to miti8al¢ those ri&k5. CTIVES AND A Objects The objects ofthe Association are to help and support the Chapter of Salisbury CathedTal in maintainio8. preservi improvtng and enhancing the fabrie, fitting4 ornament4 music and Jnonuments in Salisbury Cathedral; 8nd to support the life. worship and nunislry of the Cathedral. 'I"h¢i¢ has been no change ill the object8 over tILe18* year. Objeet&ve$ and Grattt MAking Polieits The objective of the Association continued to be the making of grant5 to Salisbury Cathedral to fid particthar projects and purchases. It may also make grants to related orwisatxoos w4ii¢h support ttLe work of the cathedTh in specific ways. Grant &pplicationg ¢ a$ed bytheExecutive C(vclI with Ttference to theFttends' otye¢ts and the available fi)nds. The incontr of the FrendS is pritiipaily derived from subwription£ donations and legacies from tts members and fund raising events. ACHIEVEMENfs PERFORLINeE AfiD FINANCIAL REVIEW Review of Activittw And AchieYement& n theyear to 31 March 2024 a 8i8nifcaot inCFew IA kgawin¢orne as well as a l¢sser reduction in grants paid to the Cathedral atid an increase in the Value of Ill¢Sents meattt that, overall, there was an 5n¢rcasc in the value of th¢ Friends net assets ofjust over £191,000. At the year end the actEve number of members was 2,287 {2023 - 2,i28). The Friend5, total ID 2W23J24 wa5 £281,364, Gompaied £151.078 the previou5 year. Income excluding legacies was £176.426, compared wtth £121,816 202ir22. The yeAr $0 benefitted from an exceptiona] anottymous donation of £44,000.
THE FRJENDS OF SALLSB RY C'ATBE RAL REPORT OF EXECUTIVE CouNL CONllNUED AS AT 31 MARCII 2024 lF,Krs FERFORMANCE AND FINANCIAL RFVIEW CONTINUED Revim of Activities afjd AclJleVetnts (ContiBthed) Dvting the year the Friends grnnts to the CathedraI tOt]Ing £104.000, the major grant being £IOO,000 towards tht cost of two new moveable altars. one at the spire uo8sing the othw, sfftaller one, in th¢ Trinity Cl. Agrant of £4,000 was algo made towards Cathedral Ilowerg. Grants nllde in 2022123 totalled £16&500. At th¢ 2023 AGM, th¢ Assoc2ation ld a fond farewell to Duncall Glass. who had steered the Charity a8 CbainLa over the last ten years. His successor. Ms Liisa I17all has quAckly adopted to h¢r new role. an early tagk being the appointment of tr/0 Tnemkn of staff. Pllblic BeTrefit The TTUStees confiTm that they have complied with th¢ duty in section 17 of the Charitie8 Act 2011 to he due regard to the public bellefit guidallc¢ published by the Chgrity Commission. Investment Policy PerfOrMACe The Friends, Investmert Poiicy, which is reviewed autiually. LS to inaintain and enhance the value of their investments and the Income from themin terms by investin8 in charttable managed thtlds, the underlying investments of whicli omprise a btoad spread ofequTtie5, bonds and pi"operty. ITNe5LThetrts are held in CCLA'S CBF Global Equity fund 166/0) and M&G suntieS, Clwithnd ()4/0). There were no disposais dur&ng tbe year and the year el revaluation resulted in net UreISed gains of £80.473. mor¢ th8n Fully I¢ver3illg Éhe lo$se$ of the previous year. During the year investllLent5 gav¢ a capital rturjj of +10.4/ts. Rutrves At 31 March 2024 the tt U&sels ofthe Frie18 amounted to £1,103,307 (2023.. £912,073), which tndudes £854,121 invested for a bdterreturn. The Friends, policy is to bold reserves (a) as workkttg Capitai to support ongoing peiations alld activiti£% (b) at Iwt 12 illonths expellditure to provide ¢oDtinuity in athievin8 its Charitable a¢tivities attd (c) fi]ture replacernent of goods and equipment a8 De£es5ary. Plan$ for Futtsre Periods The AssoLiation plaus fio ¢ontinue the acttvities outlined above in theforth¢omi]]gye4tS subject to satisfactory fidIng aTran8eiws. It plans to make fvrtlier 8rants with referen to its objects and availabl¢ thnds. The Association also atms to increase its membership overthe forthcornirtg years. Aud*tors Although FleEchei & Partnerg Treie re-aPPOillted as the Association's auditor8 at the 2023 AGM rhey subsequently resigtted before the year ettd. Following a carefvl study of Chlty Coi]]nliS5ion guidance oil the matter. it beGatne de&r that an adit of the Charity was not a requirement, but tIt an indq)end¢nt examinatio a less demandin8 and ]nore appiopti8te level of 5CllEtiny for smler ch&tÉtie4 would be adequate Indtpendent Examirters Following a review of possible providers the CouncÉl appioved the appointEnent of Moore Soutli LLP. Charter¢d Accountants as the Associgtion's tndependent exarniners.
THE FRIEND&+ O iA RYC TMEDIIAL REPORT OF THE EXECUTIVE COUNCtL CON AS AT 31 TrtARCH 2024 SPVN5]BILTTtES OF TH R THE PREPAR4TI ER5 OF TH£ ExEcufivE COUNCIL N OF THE FINAThCIAL STATF.METrTS The members of the Executsye Cout)cil are responsible for prepaTlnS thetr Report and the statEments in accordance applicable and Untted Kingdom Generally A¢cepted Accounting Pra¢ti Charity law requires the n)embers of the Ex¢xut¢ve Councit to prepare financial statements, for each fll)ancial year, which give a tJu¢ and foirwiew of the Association's financial actINtieS during the year and the position of the A5soGiation at the end of the yeai. In piepatillg these 5tatement4 the rnembers of the COU1[ are required to". selt wiiable 8wut)ting policies aiid then apply them consistentty. Makejudgements and estimattt that are reAsonable and prudent. State whethet app]scable accountins stand8rds and stateellts of recoxnmellded pra¢ti¢e have b1 followeil subject to any departyres disdosed and explwned in the financial statematts. Prepare the accounts on the going Concern ba%s uniess it is inappropiiate to pre5UllLe that the As50aatioiiwill continue to oper&te. The meEnbers olth¢ Coun¢il are respoll5ible for keepiTrg proper accountjDg [OrdS which disclose wtth reasonable accuracy the financial position of the Association and whi¢h enable them to eKwie thatthe financtal StateentS comply wtth the proviston5 oftlie Cliarities Act 2011. They ate also responsible saf¢guarding thf asset5 of the Asyociation and hete for t2k]ng reasoab}e steps for the prevention and dete¢tion of fraud w)d other irregularities. The meFnbers confjnn that so far as th¢y are aWWE there is no infomation relEvaDt to the LTrf wliidL tl independent examiner is unaware and tbe members have taken tbe necessary steps to ¢nswe they thewlv¢s are aware of aIl relevant i]]formatiots And have mc sure the independent eyaminer is aware of it. Siglled onbehalf c>fthe Executive Coullcil.. Ms L walla (Chair) MrCB (Hon Tr Approved by the Executive CouARcil.' . 2Q24
JND£P NDEf4T ExAN(4ER's REPORT TO THE TRUSTEES OF THE FRIEf4D RY CATHED I rcpart to the trustees on my CKamtn&tion of the fivanciai statem¢nts of the Friends of Salisbury Cathedral (the charity) for the year et]ded 3 1 March 2024. Rtspon$ibilitits and basis of report As the trustecs of the ch[lY you are respollwl)le For the preparation ofthe financial ststemeThts in accordance with the requiremeots of the chariti Act 2011 (the 2011 Act}. I report iespeci of examin&tion ofthe charitys fin1CIaL thtem¢nts carried out under 5ectioM 145 of the 2011 Act. In ca]rying out my examination I have followed the applicable Directions 8iven by the Charrty Com]ni8sion under section 145(5Xb) of the 2011 Act. IDdepend¢Dt examiller's 5tstement I have compl¢ted my exanllnation. I confirm that no matter% have come to my attenttoll in CDnnection with the mination givittg tne rause to believe that in any mat&ial respect.. l. accountins rttords were llot kept in respect of the Charity 2s r¢¥uired by seotioll 130 of the 2011 Act. or 2. the fjnan¢iaJ statements do lt accord those records., or 3. the fina181 $tat¢meDt$ Ifo not Comply with the appli¢able requirements concerning the forni and contellt of acC(At8 srt out in the Ch8rsties (A¢counts and Reports) RegLdatitsns 2008 othet thuLany rwuirement tlJ&i the a£¢ounts gtve atwe aod fair view which is not a Dtstter consid¢r&l &s part of ao independent examination. I have no concerns and have come across no others K)atte¥s it) ¢onneJion with the exarninatioll to whith attention should be drawn in this report in order to enable a proper undergtandins of the finanttal st&t¢rnents to be reached. Ust of my reptsit This report is rnade solety to the Clwity's Trustee4 as a body. in accOrdwe wiÈh Cbapt¢r 3 ofPart 8 of the Charities Act 20 mtimtion lkns been undertakell so that I might state to the Cbarity's Trustees those tndter5 1 a1 to thern ill an independent examiner's report and for no otherpurpose. To the filllest oYt¢At p¢nllitt¢d t accept or &ssutne responsibility io anyone other thanthe Charity and the Charity's TNstees &£ inatiot), for this repor¥ or for the opinions I haye formed. aw. or Id Moore (South) L )3 lThe Claterndoll Centr¢ S31isbury Busines5 Park Dairy Nfeadow Lane Salislx Wiltshire SPI 2TY CA Dated. fni JJO g02F
'rAL FRIENDS OF SALKSBURY CATHED TATEMENT F FINLN IAL ACTIVITIES FOR 31 2024 UDrestricted Restrtcted Fund$ Fund8 Total 2024 Total 2023 INCOMtNG AFqJ) ENJ)owMFNrs FROM. Donatiotss and legacies Trading actiNryti&% Investmerts Note I Note 2 Note 3 214.2g2 26.697 40,375 214.292 26.697 40,375 100.152 18,552 32,374 Total 281,364 281,364 151,078 LKPENDITURE ON. Raising thdS C05t$ of gellerating voluntary incom¢ Support wsts indudin8 gov¢iJan¢¢ Cost of g¢lleratiDg investrllent iu¢om¢ 21.576 45,027 21.570 45,027 18.659 38.391 66,603 66,603 57,050 Charitable Athivities ants payable to Salisbury Cathe(]ral Note 5 104,(X)O 104.000 166.50QI Totsl 170,603 170.603 223,550 Net surplus/ (deficit) before gains or I0¢S on investment wts 110761 110.761 Net 8ains I (losses) on investment 2S5ets Realised gains l (losses) Unrestlised gaiTr)s l (losses) Note 8 80,473 80.473 140.202) Nd income l (expendituTr) 191.234 191.234 (112,674) RECONCILIATION OF FUNDS roTAL FUNDS BROUGHT FORWARD 912,073 912,073 l.024,747 TOTAL FtJNDS CARRIED FORWARD £1,103,307 £1,103,307 £912.073 The Associ&lion did tK>t aGquire or discontinue any aetivttles rri either of the above two Ye9.
THE tEND Ll STAT£M£f4T OF FINANCIAL ACTIVETIES FOR THE YEAR TO 31 Th(ARCH 2023 Urestricted R¢strieted Fts[s unds Total Total 2022 COMtNG AND ENDOWMENTS FRO. Donations and legacies Trading activities Investments Note I NoÉ¢ 2 Note 3 100,152 18,552 32,374 100,152 I8.5S2 32.374 192.186 15.707 27.934 Total 151.078 151.078 235,827 EXPENDITURE ON.. Raising fijnds Costs of generating voluntw illcome Support Costs in¢ludtng governate Cost of Seneratiw investment income Note 4 18,659 38,391 18,659 38.391 13,464 37,079 57,050 57,050 50.543 ChaTitable knivitÉes Gi8llts payable to Sa15Ebury C8thedral Note 5 166,500 166,500 128.523 Totsl 223.550 223.550 179,066 Net surplus 1 (deficit) before gains or losses on InvestnLeJrt assets 2.472 Net gaitts 1 (losses) on itNestmet)t assets Realised ggins l 00sw) Unrealised sainsl {losses} Note 8 {40,22} {40,202) 60,629 Net iG0c l {expenditute) (111674) {112.674) 117.J90 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHf FORWARD 1,024,747 1,024,747 907,357 TOTAL FUNDS CARRIED FORWARD £911073 £912,073 £1,024.747 The AssociatIOA did tK)t acquire or discontimte any artiiities in either of the above two ye.
THE IIRLEND ALI BURY LATHKDIIAL ALANC£ SHEET AT 31 IARCH 2024 2024 2023 FJXED ASSETS Tangible Assets lllve$tments Nthe7 Note 8 1,497 854, 121 773,648 855,618 773.648 CURRENT ASSETS Stock Delrtor8 Cath at bank atLd in hand Note 9 Note 10 Notell 642 51,274 231.018 48.85 1 130.479 282,934 180.648 cREDORS. Amoiints falling dlle withill one ye*r Note 12 31.035 36,182 NET C[]RR ASSETS 251,899 144,466 TOTAL ASSETS LESS CURRENT LEABILrriES I,I07,517 918,114 CREDITORS: Amoumts falling due After more oneyear 'ote 13 4,210 6.041 £1,103.J07 £912,073 Representing.. FUNDS Note 14 Restricted Funds Unrestricted FurLds 1,103,307 912,073 £1,103,307 £912,073 Signed on behalf ofthe EXetiVe CounciI.. Ms Lwallace (Choir} Approved by the Executive Council.. . 2024
Pa THE FRIENDS OF SALISBURY CATHED TES TO THE ACCOUNTS A.8 AT 31 hlARC.H 2024 ACCOUNTnYG POLICIES Basis of ACe0tIng The AcciwJ]ts have been prepared in accordance with Accounting and Reporting by Charities." Stateme ot Recommended Prattice applicable lo charitie5 Ptepating their account5 in accordttnce with the Fin2ncial Reporting Standard applicable in the UK and R¢publt¢ of Ir¢land (FRS102), Assets and liabilities ar¢ initiaEIy re£ogni5ed at htstoricai cost or tran5&Ction value unIess otherwise statd in the relevant a¢counting po]icy. The TNstees do not ¢on$ider thare to h&v¢ been SI& jUd8tll¢t made in applyiDg the a¢coutitin8 policies below, nor that there There any significant estimation uncertaintieg involved in the preparalion of the accowrt8 that require disciosure. b. Preparntion of ibe actounts on * goiiig coDcern hasi5 The Executtve Council const(ler that the oharity ha5 suffi¢ientTesour¢es to enable it to opefate for the forseeable filre &nd b&ve Preped the acc4)unts ott the basis that the charity is a going concem. TgIble Fixed A55ets Tan8ible fixed 4S5&$ COStillS of £500 are capitalssed. Depreciation is Charged at 25/0 per anmun on cost in order to lte Dff the cost of fixed assets over their estmated economic lives. Inve$£meRtS These are shown at market value. RlS¢d and unrealised gains and losses investott5 ar¢ alti1bed to th¢ fi]nd tn which the investments are held. Stock Stock of ¥ood5 foi iesale is Vdlued at thelowet of c05t at]d llct realEs&ble value. Subs¢viptioAs nd trtvestment Tniome These are included ITJ the yeat in whith they are e[eivable. Life Membeyship Subscriptions These are taken to income over 12.5 years. The Trngttts Nithdrew the offer of lift metnbership subscriptions during Éke year 2018119_ ])onattoJi& Iw¢ie$ Don81ion% aiJdle8acia% are included as income onrx it is reasonably Cert that th¢y will b¢ receivei and the income can be mea5uFed reliably. Income Tax Recovernble This is included ag incon in tbe same year a8 the related net income. Expenditure l expenditure is &tllElted for on an acc[u& basi5 and has been classified undeT headings that 8wegate all costs related to the rat¢¥ury. ExpedItUre Is recOlsed where there is alal or ¢OllStructive obligaEion to mdke paytnems lo ihird partie£ it is probable that settletn¢nt will be required aod the amount of the obligation can b¢ measured rejiably. k. Grants Payxble Grants payableto third parties are w7thi]R the rhaTitable objectives. Wheieunconditional gtallts are offered, this 18 acoued as soon as the recipient is notified of ibe grant. a5 this giv¢s rise to to a reasonable eXptatIOn th the ripIent will rweiye the grants. Where gtallts are conditional relating to fOlIanCe then the grant is only a¢LYued when any conditioDs aFe outside of the GDntrol of the ch4n"ty. L Funds Unrestiisted are available fur use at the disctetiun of the tsustees An rtkerartee of the general objecfive8 of the charity atth whicli have not bewi designated for any other pujyose. Restrict¢d Funds.. donations and legacies receiveil for specific restricted purposes within the Association's objects aTe 5bown as restricted fund5. kny incoTne and ir1¢stent gain5 or losses atiSill8 on a restrirted fid are alltibUt to that fi)nd.
THE FRIKNDS OF SALISBURY cATHEDL NO 'ro TllE ACCOItNTS CON A5AT31 It 2024 ACCOUNTING POLICIES (continued) m. FiD#Dcial Insln&ments Th¢ charity onLy has finaTKial a&sets alld litbilitits% of a kÈtid that qLulify as ba51¢ finan¢ta] instrumenÈs. They are in(tially reCOllsed &t tranwtion value and wbsequendy rneasu at Ébeir sett]erneTht vEh]e. Employment benefits The cliaTity oFp¢rat¢S 8 defilled ¢Otitribulxon plan forthe benefit of its employees. ContrÉbutions are expeSed as they become payable. Lease Rentals payable and receivable und¢r operating l¢as¢s ar¢ charg to tbe SOFA on a strgi8ht iinebasis over tbe period of the lease. DONATtONS AND IIGACIES 2024 2(r13 Subsciiptions Donation&'. 52,861 2,875 53,618 104,9)8 55,120 1,625 14,145 29,262 Cathedral Chairs Other donaÉion unStrI¢ted Restricted £214.292 £100.152 INCOME FROM TRADtNGAcrivrIiEs 2024 2023 Tncome from rullning events Income from sale of goods 25,079 1,618 16.8 1,752 £26.697 £18,552 INVESYWENf TNCOME 2023 Income from UK listed invesm]ents Other iRteiest reteryable 30234 10,141 29,757 1617 £40,375 £32,374 4. COST OF GENERATING FUNDS Cost of gellerdting voluntary income". Cost of nMtniTg events Cost of goods for sal¢ Spire Magazine and Metnbers, newsletters 8.l60 956 12,460 3.820 2,303 12,536 21,576 18.659 Support cK)sts: Staff $tS {8} Postage, printing and statlonery Other officé costs 23,835 1.416 12,707 23,417 1,126 7.994 37.958 32.537 Governance Support staff costs {2) Independent Examinevs fee 5,959 1.110 7,069 5,854 5,854 Cost of gelleiating jnve8tsnrt Inme.. Investmeiit n)an8gemert costs £66.603 £57,050
FRIENDS OF SALISBttRY ATUKD NOTE TO TH£ ACCO Nrs CONTUqUED AS AT 31 MdUiCH 2024 GRANfs PAYABLE TO SALtSBIJRY CATHEDRAL Grants ApproYed/ payable as Oieleased) at l Apri] during the 2023 Payable at 31 Nlarch 2024 Paid duTin8 the yeai Piyable i 2023 Cathedral tlowers Extenul LED ftoodlighting TV Screty & cases Chamber organ N¢w altars 4,000 4.000 3,(X)O 127.000 6.500 30.000 30.0(Y) 7.500 100.IXJO 21500 100,(KJo £ 30,000 £104,000 £111.500 £ 22.500 166,5(X) Frfjends also provide fiwnished office accomjnodation for the Vicar ofthe Close wati IINALYSIS OF GOVERNANCE AND SUPPORT COSTS The charrty is admtStered by a small team of employees reportiD8 to the ExetiVe Council. As shown at Note 15 Members of Éhe Executive Council are Lmpttid volunteets. TheExeculsve Councll consider that the 5UPPQrt Costs of op¢r8tin8 the charity relate to estbei the wst5 a55ociated with raisin8 fi]nd5 or 8ovem8nce costs of the Ghariry, and so these 8t8 aTe apportioned on the basis of tiw sp•it on these athtvities. GraS twardd are decided by th¢ Executive Council and it is not ¢oMsid¢red appropriate to Apportion any support costs to these d]aTitable aCtVite5. 'fhe avetase nulllber of elOYeeS in 2024 wa5 2.4 {2023 - 3). No employee received benefits of nwr¢ than £60,(M)O in ¢ither yeyr. TANGIBLE FIXED ASSETS Cpst At l April 2023 Additions duritt8 the year Disposals 16.187 1.997 At 31 March 2024 18,184 Depreciatio At l April 2023 Charge for the year Disposals At 31 Match 2024 16.187 500 16,687 Nrt book valve At 31 Marth 2024 1.497 At 31 March 2023
THE FRIEND OF ALtSBURY CATkiEDRA OTK THE ACC.OThTS ONTINUED S AT 31 IILIR ll 2024 8. INVESTMKNTS 2024 20 Market value at l Apiil 2023 Additiolls Disposa]s ReTraluBtio 773,648 813.850 80.473 (40,202) £773,648 Market vdue at 3 1 March 2024 £854,121 Co8t at 31 March 2024 £623.997 £623,997 The investments consist of maJaged fimds wilh uThderl}ryng illv¢strJMiSs inUK 3ud oversejs equities and bank treasury deposits, and ate valued at their matkeÉ price iii an tIVe market. The holdti]8s at the end of the year We.. aiue 31_3.23 CCLA- CBF 0b41 Equity Fuud M&G Securitse8- Charithttd 564.572 289.549 478.711 294,937 £854,121 £773.648 9. STOCK 2024 2023 Goods for resale £642 £1.318 The ¢ltarged as an expe1 in the period was £956 (2023.. £2.30J}. 10. DEBTORS 2024 2023 Income Tax recoYu3ble Other debtors Lega¢ies receivable Prepayments 8nd accrued iticome 9,700 3.480 37,500 594 9,608 38.700 543 £51,274 £48,851 11. CASH AT BAPIK AND IN HAND 2023 Cutrtnt &c¢ounts- J.loyds Bank . CAF Bank qslI account- Central Board of Fittau¢e Petty Cath 10.100 16.419 204.451 48 15,705 17,012 97,689 £231.OJ8 £130.479 11 CREDrroRS- Amounts falling du¢ wtthin otte Ytr 2024 2023 Amounts received advanLY GEant c0nllnithe& Otlw creditors aCcalS Life membership subscriptions 836 2151)0 5.868 1,831 495 30,000 2,157 £36.182
e13 TKE FRIENDS OF S.4LISBIJRY ATItEDRAL NOTES TO THE ACCOUNTS COf4TINUED AS A'f 31 MARCFt 2024 13. CREDoRS. fa28 due After more than ole y&gr 2023 Life membership subscriptions 4.210 6,041 £4,210 £6.041 14. MOVfMEPS IN FUNDS Restricted Unr¢5tri¢ted Balance at l Aptil 2023 Net incomebefore grants Grant8 to Salisbury Cathedral UnY¢a]ised gains on investment assets 912,073 214,76l (104,000) 80,473 912,073 214.761 (104.000) 80,473 Balance at 31 March 2024 £1.103.307 £1.103,307 Balanc£ at l April 2022 Net incoine before grants Grants to Salisbury Cathedra] UDrealised10&ses on itNestment assets 1,024,747 94,028 (166.500) (40,202) 1,024,747 94,028 (166,500) (40,202) Balance at 3 1 March 2023 £912,073 £9l2.073 15. RmuBAll0N OF EIMPLOYEES AF4D LYDEPENDETfi KxAfNllNER The Association hod three employe¢s engaged in administration at the start ofthe yearbut only oje the year end A second employe¢ started just il thebeginning of the new lancI9j year (2023". 3). Total remuneration pgid i 2024 w&s £28,461 (2023.. £28,108). The Associatiott paid pension CLtribUtionS of £173 2024 (2023." £nd). Durins they&v the As8oGiatiOA eontlAued to engage a self employed contractor to ylldertake book-keeping work OJ an as needed basis. The Cost involved iB included with'staff costs. in theNotes to the Account The Assoaation appointed a new Independent Rx&llner duting the year and an a¢cruAI of £1,110 das been Thade in these accounts fortheir professional services at the year end. The A5sociation'5 previou5 auditors bad chai8ed no fees for their professtoJal strvtces for the audit ekther 2023 or 2022. 16. OPEIIATING LEASES A8 at )Ist March 2024 the total offyture minijnum lease paytS under non-cancellable operating leases, in respect of the Friertd's offices were as follows.. 21f24 2023 Atnount due within one year 1375 1375 AmoutJt due benveen two and five years 9.500 9,5(J) Amount due after 5 y&8rs 18,4( 20,781 £30,281 £32,656 The amount charged as an expense the period was U375 (2023.. £2,375).
e14 THE FRICI EIDS F 8ALISB17RY CATHEDRAL NOTES TO THF. ACCOU c.oYrtNifED AS AT 31 IIIARCH 2024 17. RELAD PARTY TRANSAclloNS The Members of the Exewtive Cwncil re1Ve no remuneration in either ofthese two years. No inembers wett rtitnbursed travd exp¢ns¢s {2023'. £nil). One Tru*4 K Shearing w&5 also all employee and her renwllerEtion duri[ the year was £3.235 (2023.. £3,S35). AU gr&nts patd in the year. and 2023. w¢re lo sUp)rt the operatioR n]aintenance of Salisbury C&thedtal. The Revd Canon KPadley is a mernber of the Cathedral's Chapt¢r. TheFriend8 rent an offi¢e from th¢ Cathedraj, who d)arge them rent and utility costs on commerical teTms. The Cathedral also host theyi rr infrastrucknre without char8e. 18. PROVISIOP4S, coiYfDIGENT LIABItJTIES AND CAprrAL COMfvIITMENTS There wereno provis20ns. contAngent liabiknti¢5 or ¢apitai WltMentS in the year (2023.. £nil}.