FRIENDS OF PETERBOROUGH CATHEDRAL ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 Friends of P•terborough Cathedral Annual Report and Accounts forthe y￿r ended 31 December 2025 Reference and Administrativo Inlorniatlon Narne of char￿Y'. Friends of Peterb¢)rough Cathedral Cathedral Office minst￿ Precincts Petert<*rough PE11XS Prinapd Office.. Charity Registration Number. 249608 Independent Exaffiner Pri￿ Bailey LLP Anglia House 6 Central Avenue St Andr8ws Busintss Park Thorpe St Andrew NoMich NR7 OHR Members of the Councll (Trusiees) during the year and as at 31 December 2025.. Dean of Pelerborough (ex offiao): The Rev Canon Christopher Dalliston Nominated by the Chapter of Peterborough Cathedral: None Ejeded at Amual General Meetings: Mr David Way (Chairman) Mr John Grubb (Magazine edit(Y) Mr lan Harpar Mrs Joanne Dalrymple-smith Mrs Rt)semary Way Officers: Hon Treasur8r & M8mbershlp Sec• Mr Keith L N￿￿oISOn Bankers: Bardays Bank PLC 1 Church Street Pelerborough PE1 1XE Scotttsh IMd(Thvs Bank PO Box 883 LEEDS LS1 gry Frfend8 of Peterborough Cathedral Annual Report and Accounts for Ihe year ended 31 December 2025 Annual R ort 2025 The trustees present their report and accounts for the year ended 31 December 2025. The tNStees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities. {FRS 102) in preparing the annual report and accounts of the charity. The accounts have been prepared in accorrjance wtth the aco)urrting policies set out in notes to the accounts ar￿ compty VAth the charity's goveming docJJment, the Charities A 2011 and Accounting and Reporting by CharTlies.' Statement of Recommended Pr8Ctir applicable to charities preparing their accounts in accordance with the Finanaal ReportirrfJ Standard applicable in the UK and Republ￿ of Ireland published in October 2019. Objectives and Actlvities The obj8dive$ of the Friends of Peterborough Calhedrai set in the Constitution ae: {a) To arouse and foster interest in the Cathedral throughout the Llocese and beyond., and (b) To assist the Chapter funds to wesep* the fabric of the Cathedral, the monastic buildings arKI other historic features of the precinds, and of any buildings used for the purposes of the Cathedral: and to assist in ￿ preservation and enrichment of the omaments and fumishings of the Cathedral and maintenance and development of its worship and misslon. The Coun(al seeks to achieve these obiedive$ through encouraging membership of tho Friends and: ma￿,ng grants to the Chapter of the Cathedral., circulating the annual Journal and periodlc newslettws, vthith publicise special seNces and events at Ihe Cathedr81' fUndr￿sing. arranging varlous trips wthin and outside the diocese for members,. and organising the annual FrFends Day at thé cathedral. The Association only makes grants to the Chapter following discussion and approval of specific proposals at a meeting of the CouncAI. taking account of the objectives of the Association as Set out above, the availabilty of funds in the light of the Associalion's financial strategy. and the strategtc prioribes of the Chapter. In its dec1sion-ma￿n9, the Association works dosely l)ut is independent of the Chapter. Membershlp of the ASs￿latiOn is open to all those, of any Christian denominalion or of other faiths (or none), care about the heritage of Peterf)c(ough Cathedral and wish to see the building and its place in the life of the cty and Dv)c8se of Petert)orough maintained and. developed. The Council considers that its actwitses in support of its objectives are in line %Mth the Charity Comrnission's guidan<￿ on public benefiL in particular the specffjic guidanc6 on charities that indude the advanc*ment of religion among Iheir objectives. Friends d Petertiorou9h Cathedral Annual Report and Accounts forthe year endod 31 Docomber 2025 Achleven*nts, Perfomianco and Finan¢lal Review an The prirtipal regukr source of income for the knock2t￿n is its membership subwption Hcwever there are still a number of mernbers tho have not InC￿ased their membership fees, this at 8 time then our costs are increasing. especially postage. A letterlemail was sent to members in 21r25 to address this issue. Membership numbers have been revithved to aco)unt for only ttrK)se paylng subscriptions and number around 459. New members broadly offset dePartU￿S as a result of death. riends Da The forynat for Friends has been sliglrtPy atterwj so that rather than an all day event rt has been compressed to just an aftemoon. nn Details are given at the front of this report Over cial Po At the end of the year the Assoaation's acajmulated reserves totalled £77,140 (2024 £90,019) a decrease of £12.879. During 2025 trie prinapal grant to chapter was £25,OCLI towards the refurbishrnent of the Bourdon Bell together with a donation of £10.000 tmrds the Cathedral in Crisis appeal (2024 the prinapal grant to the thapter was £3,500 patd .as the second instalment on account of a three year ￿MmItrnent totalling £10,500 to help ￿lth the gardening in the precAncis). The fonnat of the journal continues to be under review to ty and reduce this annual ￿St. Differenl formats and means of delivery are being explored. ReseNes Poli The Council believe Ihat their reserve$ should be made up of Suff￿lent *Drking CAPital to 8nab16 It to continue to operate for 24 months tc4Jether V￿1h suffic4ent funds to meet pledges ready made to fund Fxojects of the Chapter of Peterborough Cathedral. Running cosls in 2025 amounted to £6.620 a contingency fund i8 held of £10,OCYJ towards the installation and cleaning of the Paff memorial. This gives a Cjjrrent optimum ￿seNe level of £23.240 whith means that our ￿￿ent level of reserves (£77,140) is £53,900 above the required level du8 lo previous legacy proceeds being undistributed, The Counol is looking at options to furiher support the Chapter of Peterbcmugh Cathedral in accordance ￿1th our constitution. Frlends ol PeterborDugh Cathedrnl Annual Report and Accounts for the year Ènded 31 December 2025 ain Sources of Inco The Assoaalion's main regular sources of ino)me are subsaiptions fr(xn n￿rnber$ the98 totalled £5,705 (2024- £5,873). Apart from investment income (see below), Ihe Association's other main regular sources of income are donations and legacies. The Assoaation ￿ntinUeS to attract legaaes and is grateful for the gc(thll of members include it in their wills. The Counal expresses rts gratitude for all these Wuests. as ￿11 as for a number of smaller gtfts from ￿llectiOnS al funerals. Grants to Cha er Any further grant making is linked to supporting outlays 8S they are incurred by the Chapter. The ability to fvlfil the comm(tment is, wi part, dependent upon bequests and gifts whid) by their nature Cannot be foreseen. Investme Poli A]1 uncommitted funds *e placed in interest4aming accounts to produce In￿Me to support th8 Assoaation's objedive of providing financAal assistance to the Chapler. There are no restrictions on any of the capital held by the A$5cciation. and the Trustees have the power to invest ary%there pemitted by the Trustees Acl 2000. The liquid assets, being £30.816 (2cr24 - £31,873). are placed in accounts V￿th Bardays Bank, and £43,123 (2024 £62,334) Nmth the Scottish Imdows Bank that can be drawn down as required. Plans for the Future Finan¢ial Strat It is antiapated Ihat the annual surplus from membership and other adivities NMII enable smaller grants to wntinue to be made in support of maintenanee and small items that might arise and which traditionally the Friends have been willing to furyj. The Counal is considering strategies to ty and increase this surplus, induding in¢78asing the annual membership fee. Structure, Governance and Management The Friends of Peterborough Cathedral is an unIn￿rPorated Assoaalion that is a registered charity. Its govemin9 document is its Constitution, was last subje& to ¢JYnprehensive revi￿ in 20c￿, *ith minor amendments in 2008. Under the Constituiion, management is vested in a Council. vthTrch has POY*er to authorise the expenditure of funds in furtherance of its oE4ectives. The members of the Council are the Charity Truslees of the Assoaation. The Counal ￿nsistS of up to 17 members: The Dean of Peterborough Cathedral (ex offiao) 4 members nominated ty the Chapter"of Petert¥Jrough Cathgjral 6 members elected at the AGM 3 officers (Honorary Sec￿lary. Honorary Membwship Secretary and Honorary Treasurer) appointed annually by the Councrl A M￿muM of 3 members cfropted by the Council. The editor of the Friend8. Journal attends as ex-oificio member. Frlends of Peterborough Cathedral Annu￿ Report and Accounts for the year ended 31 December 2025 The Chairman {and Vice-chairnan when there is one) is elected annualty by and from among the members of the Council. Nomirkgted and elected members serve on the Council for periods of three years. The officers are appointed and cw)ticfis rnade annually. Members are eligible for rtrnoffiinati(m. r￿leCtiOn. reappoinknent or reP￿￿tiOn as appropriate. Details of the m8mbers of the Councyl and cther Reference and Administrativ8 InfomiatN)n, as well as the Statement of Trustees, Responsibilities. are indud&J in this report. The Councd perlodically undertakes a revEw to identtfy and assess any signfficant risks to whith the Association may become exposed and lo ensure measures are taken to miligats such risk5 as far as is prd(Aicable. The last revie4V was undertaken in January 2009. The Trustees have cowdered thè Charity Commission's guidan￿ ¢)n public benefit, and they oJnsider that th8 charifv is fvlfilling its ob!igaty)ns by achievin9 the above. Independent Examination This has ￿en carried wt In ac (121) Not Movenxnl in Funds Balance blf at 1 January Balanc? clf at ond of period (12.879) (121) 90,140 JI fund8 are unrestrkted in the ￿Trent and pricy year. Frlends of Petèrborough Cathedral Annual Report and AGGounts lor the year ended 31 December 2025 Balance Sheet as at 31 Deum￿r 2025 2025 315tD•¢ *124 Fix•d Assets Current Assets Sundry Oebtrys Scottish WK10￿ Bank Cash at Bank: 8arclay8 Bank cU￿ent Alc Barclays Bank B￿ne$S Premium Alc 43.123 62.334 3.519 27.297 5.120 79.059 31.873 231 95,438 urrent Sundry Creditors ono 1.919 5,419 77,140 019 Apwoved on 2ThJ Wil 2(r26 David Way Chair Keith 14ieh¢lson Treawrer 10- Friends of Peterborough Cathedral Annual Report and Accourts forthe year ended 31 December 2025 Notes to the SLthn*nt of Flnanclal Activities and Balance She8t 1. Accountlng Policies Basls of preparation The Charity constitutes a publi¢ beneftt entity as defined by FRS 102. The finanaal statements have bean prepared in a￿rdance ￿1th the relevant version of the Statement of Re¢omm8nded Practice applicable to charities preparing their accounts in accordance with the FinanGial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reportrng Standard applicable in the United lQrKJdom arKI Republic of Ireland (FRS 102) and the Charilies Ad 2011 and UK Generalty Accepted Acuunting Praciice. The financial slatements have been wepared to give a Irue and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent requir8d to provide a 'true and fair view. This departure has irryofved foll0v￿n9 the relevant version of the Statement of Recomrr*nd8d Practice appIl￿ble to charities preparing their accounts in a(Lordance vAth the Finanoal Rgporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting artrd Reporting by Charities.. ststement of Recommended Practice effedNe from 1 April 2005 which has since been withdrawn. The accounts are pTrpared on a going ￿nC￿n basis under the historical ￿$1 ¢c￿Vention. The accounts are wesented in steding is funthonal ¢>Jrrency of the tharity. The signific2nt accounting policies applied in the preparation of those acwjnts are set out below. These policies have been consistentty applied to all years presented unless otherw5e stated. In preparing the accounts, the trustees have considered vliether in apptying the accounting policies required by FRS 102 and the Charities SORP (FRS. 102) a restatement of comparative itwns was needed. No restatemerts were required. The folo%%ing speofic pokoes have been ap￿led lo recognising sums in the ac￿unts. Trustees consider the Charity to be a going concern. Given Ihe16vel of reserves and the discretionary nature of mst expenditure the Charity has suffioent funds to ￿ntinue in operation for a period of at least 12 rn￿thS from the date of approval of these financial statements. Subsuiplions are induded as tumover *then received. All expenditure 1$ accounted for on an amals basi5 and has been dassifjed under headings that aggregate all O￿ts re18ted to that category. Expenditure is ￿t))gnIsed where there is a legal or construdNe oblbJation to make payments to third parties, rt is probable thal the settlement will be required and the amount of the obligation can be measured reliably. For legaaes, entitlement is tsken as the earfier of the date on whith either. the tharity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(S) to the charity that a distribution V*ryll be n￿de, or when distribution is received from the eslaie. Receipt of a legacy, in whole or in part, is onty considered probable wthen the arn￿nt Can be measured reliably and the charity has been notiffied of the executorf$ intentv)n to make a distribution. Vtherè legacies have been notified to th8 chartty, or the charity is aware of the granting of probate, and the criteria for income r8o)gntbon have not been met, then the legacy is a treated as a .contingent asset and disdosed rf material. 11 Frfends of Pete￿or￿Ullh Cathedrnl Annual Report and Accounts forthe year ended 31 December 2025 Tax redaims from HM Revenuè arvj Customs are Induded vk1￿ Ihe amounts due have been calculated and daimed or can be reliably estimated. Grants approved to the Chapter of Petefborough Cathedral are brought to ￿CoUnt as expenditure when there is a constructive Obl￿at￿)n, i.e. the Chapter has acted on Communi¢￿tion of the Association's intention to make a grant ty placing orders for goods or serwces. Any approved grants for *thich a ryjnstrudlve Ob￿gatiOn has not arisen a noted as contingent liablities. Unrestricted funds are fvTrJs gNen for parti¢)Jlar Purpose or projects, to be spent as Trustees decide. Creditors are recognised when the charity has a present oblrgation resuttlng from a past event that wll probab￿ result in a paymenl to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are norn￿1￿ re￿gnISed at thwr settlfftnt amount. 202S I Sundry debtor5 All debtors are shon-term. receNatAe in under one year HMRC outsta'ndlng Gift Ad claim8 3. Sundry creditors Independent examlnation fee Remalnlng amount in 2025 to Chapter in r8spect of grants 1,919 1.919 1,919 Al creditors are short-tern, payable in undw year. Ckning 2023 the Trustees approved a further grant of £10,LKIO is subject to planning conditions outside of the Charrtls contrd and theref¢)re this has not been induded viithin the aco)unts as a liabilty. If the necewJary perni￿on5 are granted it is expec*ed that the grant ￿111 be paid Iwthin the next 12 mnths. Accumulated Fund Brought fowdrd at 1st January 2025 Defiol for year . Carried forvrdrd at 31st December 2025 90,019 ' 77.140 5. Coun¢il n￿MberS (Thistees) Remuneratlon and Expenses . . No members of th• C￿nd1 r6c*ved any remuneration or expMses during the year. 6. Contingent Asset As at 31 De¢￿ber 2025 the charity had been notrfied of one restduary legacy the value of vthich is uncertain as administration is incomplete. Thé vaSue of the Segacy to the charity, is expected to be around £20k - £40k As at 18 Marth 2026 no infomwtion had been received and so this legacy has not been ac(xuèd. 12- Frtends ol Peterborough Cathedral Annual Report and A¢￿Unts forthe yoar ended 31 December 2025 7. Contingent Llablllty During 2023 the counol was activety engaged with the Chapter of Peterborough cathedral and in principal agreed to provide matthed funding for and the movement from Northamptonshire of a hlstoric memorial. This project has been more complèx than 8xpect8d and relevani ￿nn1$S1on$ are still being sought. The final o)sts are not yat known. There are Th) employees of the Friends of P&terL￿ugh Cathedral. 9. Related Party Trnnsactions There wÈre no related paty transxtions (2024.. none). 13-