THEASSOCIATION OF THE FRIENDS OF THE SALISBURY CATHEDRAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026
THE ASSOCIATION OF ThE FRIEND5 OF THE SALISBURY CATHEDRAL CHARITY INFQRMAMON FOR THE YEAR ENDEO 31 MARCH 2026 Patron8 The Rt Retrd the Ld Bishop of Salisbury Lcid Lieutenanl ¢f Dorsel HM Lord Lieulenanlof WIShire Pr451dent The VY Rerfd the Deanof Saisbwy ce Pmldents The Very Rev'd Derek Watson The Rt Revd June Osbcffn Thè Maycw of Salisbury The Leathrol sals ()ty Q)uTh Ll Col H Kealinge OBE Cin Duncan (a&$5 OBE MnbwY oftha Execuuve Coun¢il: Elected Honprary Member8 Mrc Barnard MrJKety Mr N C Ws FCA ACIB L Marh OBE DL IArs L MPWIII Chipt•rfs Nominee Revd Canon K Pathey hdeaconry R¢pre$8fttats¥¢5 Wi Captain D Glass OBE Mfs L Walis Mrm Joseph Drc Hamn Hon¥wy Chair Mr Luke MarGh Office Holdw8 Mr N C LeMs FCA ACIB Mr D Brown OBE IbnoTaryTrea5uier Mfrmlvship Secretsry Mrs N Majkn) Charttyrew8tratson England and Wdes 243439 ldont Examfllqr CQTe (Southl LLP Lloyds Bk PIC S&sb 38 Blue Row saisbury SPI IOB
THE ASSOCIATION OF THE FIIENDS OF THE SAUSBURY CATHEDRAL CHARITY INFORMATiON FOR THE YEAR ENDED 31 IrtARCH 2026 CAF Bart Limited 24 Kings Hill Avenue Kings Hill Wesl Mal'ng Kent ME19Ua Trlicitors P*ket Blen 8 Newbury Street Andover Hanwshire SPI0 IDW
THE ASSOCIATION OF THE FRIENOS OF THE SALISBURY CATHEDRAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 CONTENTS Tfustsès Ret Independent Examinerfs ReF#Jt Rpts ar4J PayThntsAc¢ount S&*mentofAssets and Llthlties 10
THE AssoaAMON OF THE FRIENDS OF ThE SAUSBURY CATHEDRAL TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2026 The Members cl Exeurtive Cnl presentth&i annua reportwith the )Unts of the AswAation for Ihe year ended 31 Mah 2026, whKh have been wepared to Gunpty wlh tK8 provisions ofthe Chatities Act2011 the Ststeftnl of Recoftvnenthd Pr&tice'. Accounting nd Reporting by Charibes IFRS1021. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitvllon and Ch¥ttable Staty$ FOM in 1930 as an Ass(xiabDn of Membws. known a5 'Friends' lof wkni there are now some 2,500 wo[1thde1, The Frienrfs is an independent, unincoTporat8d charity regisler8d Yrilhthe Chafjty C(Mnmissioti, nwllber 243439. Itis goveffEd by a ConstitutEon,1&8lupded in 2024. GOVERNANCE The Dean is Presidentof the Frlends 2nd the ¢arity is govemed by a Courril ¢omprlsitLg up to15 tru5tse& (Mts15tsustees (Including Chairand Hon¢)raryTreasureT}. stx T[stee8 a diredyelected by the nkmtwslmp of The Friends andseNe lor iods olfouryears. The Chr of Salisbury Cathedral nominatss a Trustee lo the Council, and t? knhdexons of Dorset arKI Wiltshire nominats Trustees each on behalf of th8 fknese of Salisbury. There 15 dso a prOOn vithin the Constitution to ¢wt up to three addOnal Trusk&s on annua ba&s. All new rnemters ¥e wovided with an Introduction to the Otyecbw sct)pe and poleS of the A8atIOn, Chwity Comnissbn informabonon trStee re8pcffjsLHliliesandGcpi250fthepreviou$thregyews'Annual ReportsandAcv)untstogelherbvith acopyoftsCh8rfVs COlton. Thwe is regdIgUe w1 Cah8dral officetsto ensure an effe¢tiv8worknng RltJ)slw. to enth properevauion of antplIcalon$, and to ensure inwknientation 010e grants in conjunction th the Cathethl. OBJECTIVESAt4DACTMTIES The Charws Ofyects are.. To suppt)rt Ihe Chapter ofSalislAJry Cafhedrnl in MntaInIng Ampmmg and enhwK¥ig the f8tsto rrftings. omaments, fijmlure, muslc andrnonumths oflh& c81hedra1andfowrtrts lile. a]dminty. These Objects ae xhieved byfflthrtg s¥ast0 the CathedratknprwtswhKh Chaptwpuik>tw¥d tothe FndS for¢AnderalI)n. Thos8 projects are sUtytt0 scrutiny by Frnds'TsIee$and, rfappffjved, e funded byin¢cffle froffilegaci4 don0 In¥ethntirKome. nEmbeis' subscfiptions. The ffirsl 30 yw of Fends, existence were disastrous: war, panderrmo depression ant that very lilue funding was avallable to CatIdra7& Like many medieval buildings, Saisbury Cathedrat was in urgent rd of repair and upkeep. Those exteml lactots seern all too tanwliatodar. henc the ftd forthe Friend5 is as pressing a5 evw. Wlilsl the Chty8sts to StS8115bury cathIr, its goanCe and managwnentis wholy independentofthe Cathodra.
THE ASSOCIATION OF THE FRIENDS OF THE SAUSBURY CATHEDRAL TRUSTEES ANNUAL REPORT FOR TtrE YEAR ENDED 31 MARCH 2026 MEMBERSHIP On payTnenl ofan annual fee, Frfend$ e offffed free access to the CathedT4 a CCf¢y of SPIRE. the Friendg Annual Report and Accounts, and the Easterand Christnas New¥etters. Friends dso re¢elve 1nvlta1ior to iegular SOGII events, and to FAendg Day, the Annua Gener Meètng and L¢¢ture in the Cahadral during September. ACTIVITIES ANDACHIEVEMENTS The irnptementaffon ol a new nmLShlp database (provided by 8eax)nl tR% enabled u5 to (¢)erate more elft(¥enly, offering inymved rn0mb6r admini5trali)n, evantfflatHgernont and anatysi& &mIlY,the [mpkn)entsti0fa new digita &counting system has ydymplfiedlhe mWrtetw@Ol0urac¢0Ullting records dffinan repn9 toTnthes a)d prep&atton Offfina stateThnts. ()Jr events have provedvery popular. the yearttganwith a visitto WirheSter0n IstApril 2025. atteThled by45 rnenknTS FrieThk during which we reWe ow rdaionship viththe Ftsends of Winchestércathedral. In May 2025, Seuel Gardens ofthe Close (when many private Uose gardens C9ened forthe benefftof Frtends, fijnd rasing} retLYned its ninth year. SO 1,500 fftjple attended, ming il a record-tsieaking year- ia%ng over £15.oCl. The Annua GetRral Meeting and FndS Day in Septernberwas altended by120 John Inge gave lightenIngtalk Fath in PIK8, I¢k)Wed by aftwnooTr tea in the Cathedra aSterS afKI Even50ng. In M)vemtr, we held ourarfflua Chair Cetfft)ny during whh 24chairs wwe bknd. The eventenabks fthlles lomake a thJnalK)n lo Ihe Frlends and name a Cathedral Chair in celebralion of loved on4 past a)d presert The Frfends ¢xganised a of coffee nrningS in the Bdl Tower Tea ROO T1 Wattended ents have fostweil a strong sense ofccfflmunty have reStad in donabons of over £1,(KKI to dats. In January 202Q the Frteftds hosted another Desert Island Discs evening-tNs Farthe Revd Maggie Gull8baud was [lY wsualed to reved her fa)ts tures by Cn Tkn Da>knn. k ith al our event& such evenings hdp to twild frlendships and ertcour new connectio. FthA1 events itKlude a¥fytto Wthe Mitth, tho Friend¥ tsnth S8CTrt GanIeven[ and a coftlinuation OfFdS. Coffee klornlngs.
THE ASSOCiAIION OF THE FIOENDS OF THE SAUSBURY CATrIEDRAL TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2028 FUTURE PLANS Amngsi tts prtnpa alm& plans to InaSe Frlends, nmbership by enCOagIng otft memb¥ship. CtyJn¢il vrill aso pron the Friends, Objth grantsto the Cathedral, andth&vitsl roleofdonth'onsand legS Iwhlch, logether, promdethegreaterpwtofgrantsmadel. VOLUNTEERS We are rndebtedand enomKsu51ygratèfulto the many Frientswho have giveft ofthartime lothe Chalty durfng theye¥-stuffing envdop delivwing mail, baling ¢akes. setving washing up atcoffee nvjrnings. and assisting on tryis- our grateful thanks to one and alll CHANGE IN PRESENTATION OFTHE CHARlSACCOUNTs This year. the Frients have &en advankge of Charity Accounting guidan¢e to sinwlify the presenton of lis unts. The incomè and expenses shownin IPIS yeaffs artounts are the &iual inrne and expenses received and expeftded from our b3mk xcounts dunno the year. To comply fhe guidancq the cornpwative figures for 2025 have been resiated so that, likewise, they 0Y thow the actual irtome and expenses in the year. This sinwlifKation will W to save costs invotved in prepwing the account& LEGACIES and DONAIIONS From the olour hots, thank Friends and Donors who have generousty provide adthbona finanaa suppwl to Fflends durfftg the ye¥and th)sewho have (Nnated the Friends as a berfiC[ Wrfl& Many Friends VAH be aw£re thatth6 rnain IHT rate of 40% is redwd to 36% when the tot4 Eaate ch8ritabb 10% or mcKe of the net value of an Estsle. The net effect on other benefKiaries of ¢haitable grving is Ihat thp value of an Estate alter IKr 15 0[Y mgInalY reduced when 10% ol an Estste is given to ¢ty. We vw much hopè that as many Friends as possible will CA)nslder remembwlng the Firends in IheirWll& H'storKaly, tewestsfund the greaterour ants to the Calh8dra and so ar8 a Mtal sc4Jr¢e offunding. FINANCES (Ye¥ended 31.120261 Total amount reGeived from was £189,570 excluthng the proceeds from sale ofinvesbnen& compared yth £202.555 in 2025. tntota, £59,563 P1'A)olthe Chwws Inwme¢omp¥6d wth £71,031 (3) in . ExpeTxlihJre {exdudNig gf8nts}w&s £74,313 (2025 £81,270). Atth6year end, Investfints tOt1d £566,999 (2025 £639,551) and cash baarKes were £455.56512025 £329.801
THE ASSOCIATION OF THE FWENDS OF THE &4USBURY CATHEDRAL TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 h14RCH 2026 RESERVES AND114VESTMEMT POUCY Th&chty[nVesi9ln¢Ome nolimmediatetyre(g#redfu granl-rning. This is n8¢essary be¢ausethereis alway5 an intervd betwn receTFI ofdonations kgaGie5 and the eventual fulfrf1entofor principa oLit the mthng ofgrants to the Cathedr4. Turbulence in markets increased ygnifjcantly duting the year. ThaL of couts&. presented 11 ChaeS which hdd cash and investrpnts vAth s(gnificaRI chalenges. On the one hand, leaving too much in ¢&h risks inflabonay erosion.. on the other. the vdue ( nvested fvnds i£ exposed to the vagarie5 ofthe rn4ket& Hence the ¢ieed fw weat Ca overourresetves and underfyinu Inveslments. In 2026, Council again roM8wed tho ChariS reseNes, inveslmenls and cash hddings. They also conducted a detaled ys1$ ol the Ch¥ritYs investrtRnts' perf0M followed byinviÉabon5 to potenlJ 811emabve inveslmenl martagers. Despite the high oudity of Ihe presentsbons made, Council cortluded that and reinvesliro funds during a wiod of conslderatle volablitywould havg been urmise. Counthl aso deci&d thRt a broathy one-thlrd 4)Rt tthieen cash, ndium and long te funds remans ¥propti. Nonetheless, shotly before the outbrea( of the Usnran confiict, we parfty'de-rfsked, our US holdings {W¢b had not perform8d wdll by adding £100.Olo our cash hddlngs {nw)siofwhi¢h UK Base r). An irfftase in cash holdings is also apprriaLe in the lightof wb'cip8ted Cthdra grant reqothe ftext 12 to 24montl As thay5, our 15 to exp 8SeeS {donaknns and bequests), by way ofgrantslollE C8tre(a, atthe earlest opporiunty. IMPACT In tows valw, over the past nine years, 8vwage wnual (knalw and leS recwed tr( Friends were over £147,000 and annu bDnt ir1)yWaS £36,lJCQ. On same grants to the Cathedra were £170,000 Thanksto Friends, genetosity, nce¢jUrIOuAdatrj in1930, in tcrfjaYsrMY, the Ffkndshaveththd fteaty£14,(K(I,OOOto thecathedrd. In svftmn. this ¢cthprfsett £5,0,000 £1.gCKJ,000 600.000 £2.8,000 £6frJ,000 Worship and Music Heaing, Lighting, Sc4Jnd Congregationa &Mstior faulibes This has made a rfrfferI0the tnaintenance and preIl0n of Salisbury CathedraforthlchtheTrustees and the c*hedr artsa grateful.
THE ASSOCIATION OF THE FRIENDS OF THE SAUSBURY CATHEDRAL TRUSTEES ANNUAL REPORT FOR ThE YEAR ENDED 31 MARCH 2026 GRANTS TO THE CATHEDRAL During theyea, Ihtscharity approved orants iotlling £114,500. These compri SONJ Scheol Piano Perfomiano fighting Turret Safety handrals Security ra(los Cutbng &rden £20,000 £41.162 £9.638 £18,695 £25.000 Ilhts granlwas pad 26-271 OVERALLFINANCIAL POSITION The financial po0 of the Cty continues lo be good despile continuing thfficull ecorK)mic knes. The comitr1 cl ow stsff. sut comrniltees and CouKil ofTiustee& MIn$ undinNnished whlch augurswdl lor another successfvl year. We continuelowrkcbsety with the Cathedral and klokfoard to announ¢irMJ Grants in 2027 and teyond. KEY RESKS The key risks lo whh the thaTty is 8xposed we wurity of d& rnaintsining aThJ increng numb8ts, maintaining the of donations and legacies and the protectionof inveslmenlfunds pending antpaYfflents. The Trustees are c0Tr5tsnOy reviewing and ything to rninirnise thechty5 exposure to thesè rlsks. Examp16s ofthe lattw incluts the investment in a new and enhanced database whh has far hlgher18velsof wotscbon than fl previous rxrtdated vergon aThJ constanl reTr1 of ourreseNes policy inve5tsnents. PUBUC BENEFIT The Trustees c£fflfimi thatlhey hwe Cfjnplkd Imth Ihe duty in secbon 17 ofthe Charibes Act2011 to have due regard to the benefit giidance published by the Ch&ity C)mISsIOn. INDEPENDENT EXAMINERS Follovring a rewivw of p0StIe provideTS the Courril approved the 4F#intrnent of Moore Sth LLP as the Awiabon's inthFendent examners.
THE ASSOCIATION OF THE FRIENDS OF THE SALISBURY CATHEDRAL TrUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2026 STATEMENT OF TRUSTEES RESPONSIBIUTIES Thg m8mbeTsolthe ExeGubve CnGll e respible for prepatingthw RepLYiand the finan91Stmes in xrJ)YdaWith ¥plicaLle law aTrJ UnNed Kingdom Generaty Accepted AcGounting Pr& Charity law requires the rneTrrs ofthe Executive UnCl1 to prepe finwcia statwn8nts, for 8ach fjnarKia year, which give alJue and farMew0ftheAsIations finanrAal aGtivities dwiftg the year and thefinancEa pOS00f2A1ation attheend0flheYe. Inweparing these ststanwts the mernbers ofthe Counsil Je required to: Selectsiitable accounling policies and then £pplythem consistsnoy. Makejudgernents and estimateslhat¥e reason2Ne prudent. State whether applicable accounting stand¥ds and Stents recommended PfaGtice have ljeen frjibwed, sUt¥t to any departure5 diEdosed atkl explained in the financia StatentS Preparethe OUnts the going Cx>[l bws unlessitisinappropriateto preSum8thatlheAsSa10n VAII ¢onbnue tooperate. The rrthiteTS olthe Council [EsponbI8 keeping proper accnunbng ldS whh disdose with reas(Nwbk the fill¢5 posthon ofthe Asaabon and which enable tkn lo ensure that the financia statements corwly with the PWSk)ns of the Chaittes A¢t 2011. They are aso responslble for safeguarding assets ofthe b0¢) and hen¢e for reason s for preventJ)n and delectioTr offraud and other iegulatieS. &gned on b8h4fofth8 ExeGubv8 Counsil: (OLA- LLfi March OBE DL (Chwil NKholas L6wris FCA ACIB (Hon TRasuTer) Dat& l£.bloL
INDEPENDENTEXAMINER'S REPORTTO THE ASSOCIAMON OF THE FRIENDS OF THE SALISBURY CATHEDRAL Independent Eyaminerfs Reporttothe Trustees ofThe AssoclatlDn of the Friends of Salisbwy Cathedral I reFK)rt to the charitytruste8s on my examination oftsp &Unts ofth8 chwity fthe year endal 31 March 2026. R•sponsIbl1185 and basls of report the Chty5 InJ51ees, you rtsspongble preparthn of the Wunts in Kcordance I1h the requiren%nts ofthE Charibes A 2011 Dhe ACYI. I teportin respeclof my exaMinabl ofth8 Unts carrted outunder section 145 ofthe Act and in cIng out rny exanNTration I have frllwd al appkGable Diredtons given by Ihe Charity Cor(Ynissiotr unttersection 745151(b) dthe Aci I have ojmpleted my exaMinati(ML l ¢onfimi that no matsrial mater5 have (l to thnikiD in Connecti with the examinalpjfi ging m8 cause lo beVe Ih8t bn any maleria resp. acKounllng words we notkeptin respect oflhe charity as reipjlred by OnI30 oftheAcL' or 2. the w)unts do nOtar[d wrththO recwds. concer n order and ha atrle a me across no Oth matters in cortion with Ihe ewfiination to which atte1tht sho be dwm in this er derstsn[firrfJ the wA)untsto te reached. rep FtoLrtM&th)nJ FCCA Moore (South) LLP Chartered ACCO1 33 The Claren(kn Centre sbUry Bus1rS Patk Sbury. Wttshwe SP12TJ 30 Ju(w.&)26
THE ASSOGLA710N OF THE FRtENDS OF THE SAUSBURY CATHEDRAL RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 MARCH 2026 2026 2025 Unrestrlct4d lllnds Tot81 funds Totalfund$ Notest INCOMING RESOURCES tlonations and legade¥ Membwship subsLirptrons Donations Donation Gh&rs LegaGies ftid Income from lundraising Event inc(m Olher inccffi8 Inveslment Incorne Bank interest Investrnenl iw Other Proceeds Ir saTe ofinvesknwtts 43.489 13,193 4,534 59,563 6,574 41,233 7,741 4.381 71.031 1&33 13,193 4,534 59,563 6,574 19,663 1,173 19.663 1.173 12,2WJ 1,315 13,756 27,625 13.756 27,625 18,461 27,704 Tot4 289.570 289,570 402.555 EXPENDITURE Charitable a¢tivlUes (>anls pad Support ¢osts Wages and sl Staff traning welfare Advertising Spire nevAett 89,495 222,5 39,868 2,192 274 11,073 4,668 4,666 692 4,883 1,225 1,320 38.811 2,192 274 11,073 6,748 10.377 5.736 1.C67 8.403 1,722 1.110 RenL rates and electrk Insufan Ots expenses Bank ch¥ges countancy Expenditure lorralslng funds Event costs ())odsfoT res 1,225 2.893 559 2,893 6.876 420 Totsl NET INCQMEIIEXPENDITURE) 125.762 125,762 98.785 RECONCIUATION OF FUNDS Balanco brought forward 329.803 329, 231.018 BALANCE CARRIED FQRWARD 455,5
THE ASSOCIATION OF THE FRIENDS OF THE SAUSBURY CATHEDRAL STATEMENT OF ASSETS AND UABIUT]ES AS AT 31 MARCH 2D26 2025 Tolal funds Total funds Not08 CURRENT ASSETS Cash ori d8pos¢ ¢Uffenl aGL))unts atvj in hatKI 32&803 INVESTMENTS Managed FuThts 566,g99 631551 Tota 1,OT2,564 961354 FUNDS Lknrestrckd Funds Restr¢ted FuN]s tksigftated FdS 1,OY2,564 961354 969,354 pVed bythe Trustees l? . & . La and stgned ontheir behal by r Luke OBE DL {Chwrl Ni¢ho]as FCA ACIB (FknTreasurerl
THE ASSOCIATION OF THE FRIENDS OF THE SALISBURYCATHEORAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 ACCOUNTING POLICIES JI incomè and expen(tituie are accounted h)r on a receipts and payments basi5. RELATED PARTY TRANSACTIONS No Trustees Icounol Metnbersl rec Y remUnalK$n in eithw 2025 or 2026, neknrw8re any eypenses paid lo them. FINANCIAL COMMITMENTS Al Lhe year end, the Charity had no (x)ntingl liabili11g& CASH In 2tr26 and 2025, the baJ(S hekt and interest r*5 paKI were as foitows.. 2025 £262,613 £4,129 £50,0 £12.666 £395 £329.803 Churth of England Deposil Fund Uoyds Bank Current Account Lloyds Bank Deposit Aco)unl Charities, Aid Foundalion Cash in hand Total Cash Doposits £426,105 £4,875 £21,240 £3,187 £158 £455.565 UK Base Ra 0.95% 0% INVESTMENTS The Charity holds investments in th managed funds.. -The CCLA Investtnents Global Equity Fund [ch invesfs predominanty in Ihe US. -The M&G Stsding Charity Fund which invests predominanuy in the UK Both funds speaaliso li managing charity investfflents. The 2026 and 2025 market vaues oryinal coslofw holdings were as bllows.. Orlginal ¢ost' £252,8T8 r255,833 2026 Market Value £210,171 £356,822 £566,999 2025 Marketvaluo £337,559 £301.992 £639.551 CCLA M&G Total Valuo of investmonts at yw end osl ofwr hddins6 at 31.3.2026 Durirbg 2026, Ihe tharity sold partof its hdding in Ihe CCLA Glob4 Equity and placed the preedS in the Church of ErrfJland DepDS11 Fund. The amounlsold r84eposited in 2026 was £1,000. In 2025, Ihe wthdrawal of£200.ofKI from the C of E DeFQ5iI Fund was used to pay agranl 01£200,QQO for the intemal re-Lqmping of th¢ cathra1, LEGACIES During the year. thè Chty received five bequests. comprise Ihe Charity's prinopal source oflnoL¥lle and hen grants to lh8 Cathedral. The Tnjstees exwess th&r profound gratide to ai who have $0 generously remembefed Ihe Friends in their 11$. GIFfAID The Tnjstees are also very grateful to all memiErs and dorbors who have completed a Giftlid declaration. By doing so, Charity can drn an additional 25% oflhe value ofdonations from HMRC. aaims are now submitted rnonthly. EVENTS The rnostSignifi(xnl evenlol the year lin temis of fvnd raisIg) is seclGardens oflh8 Clos8. We are INlebled to all C105e residents sogenerousty on Ihew magnific1 gardens hdp the FrierKls in ihis way. 10.