## THE FRIENDS OF ROCHESTER CATHEDRAL 

Registered Charity Number 273973 

## CONSTITUTION 2025. 

Date of adoption, 21[st] June 2025 

## **PART 1** 

## _1. Adoption of the Constitution._ 

The Association and its property will be administered and managed by the Trustees in accordance with the provisions in Parts 1 and 2 of this Constitution. 

## _2. Name_ 

The name of the Association is: The Friends of Rochester Cathedral (and in this document is called “the Friends”). 

_3_ . _Objects_ 

The primary object of the Friends is to assist the Chapter of Rochester Cathedral: 

i to preserve and maintain the fabric, fittings, ornaments, furniture and monuments of Rochester Cathedral and the lands used in connection therewith; 

ii to preserve and maintain the worship and services in Rochester Cathedral; iii to further the religious and other charitable works of Rochester Cathedral as the Friends after consultation with the Chapter shall deem appropriate; 

iv to promote and stimulate public interest in the ministry, charitable work and life of Rochester Cathedral. 

## _4. Application of income and property_ 

The income and property of the Friends shall be applied solely towards the promotion of the Objects. 

i. A Trustee or Council member is entitled to be reimbursed from the funds of the Friends for such reasonable expenses properly incurred when acting on behalf of the friends, such expenses to be approved and minuted by Council. 

ii. A Trustee may benefit from trustee indemnity insurance purchased at the expense of the Friends in accordance with and subject to the conditions in s.189 of the Charities Act 2011. 

iii. Other than the above sub clauses a and b above, no Trustee or Council member may benefit by way of employment, trade or profession from any remuneration, sale of goods or services or any other financial benefit from the Friends. 

## _5 Dissolution_ 

i If the members resolve to dissolve the Friends the Trustees will remain in office as Trustees and be responsible for winding up the affairs of the Friends in accordance with this clause. 

ii The Trustees must collect in all the assets of the Friends and must pay or make provision for all the liabilities of the Friends. 

iii The Trustees must apply any remaining property or money: 

- a directly for the objects; 

- b by transfer to any charity or charities for purposes the same as or similar to the Friends; 

- c in such other manner as the Charity Commission for England and Wales may approve in writing in advance. 

iv The Trustees must notify the Commission promptly that the Friends has been dissolved. The Trustees must send the Commission the Friends’ final accounts. 

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## _6 Amendment of constitution_ 

- i The Friends may amend any provision contained in Part 1 of this constitution provided that: 

   - a no amendment may be made that would have the effect of making the Friends cease to be a charity at law; 

   - b no amendment may be made to alter the objects if the change would undermine or work against the previous objects of the Friends; 

   - c no amendment may be made to clauses 3, 4 or 5 without prior consent in writing of the Commission; 

   - d any resolution to amend a provision of Part 1 of this constitution is passed by not less than two thirds of members present and voting at a general meeting. 

ii Any provision contained in Part 2 of this constitution may be amended by resolution passed by a simple majority of the members present and voting at a general meeting. 

iii A copy of any resolution amending this constitution shall be sent to the Commission within twenty one days of it being passed. 

## **PART 2** 

_7. Membership_ 

- i The Trustees delegate membership matters to Council. 

ii Membership is open to all individuals over the age of 16 years and organisations who are interested in the aims and objectives of the Friends and who are approved by Council. Individuals between the ages of 16 and 21 shall be “Associate Members” without payment of an annual subscription and without voting rights. 

- iii a Council may only refuse an application if, acting reasonably and properly, it is considered to be in the best interests of the Friends. 

   - b Council must inform the applicant in writing of the reasons for the refusal within twenty one days of the decision. 

   - c The Trustees must consider any written representations the applicant may make about the decision, following which their further decision in writing must be notified to the applicant, which shall be final. 

- iv Membership is not transferable. 

- v Council shall keep a register of members’ names and addresses. 

_8. Termination of Membership._ 

Membership is terminated if: 

- i the member dies or the organisation ceases to exist; 

- ii the member resigns by written notice; 

iii any sum due from the member to the Friends is not paid in full within six months of it falling due; 

iv the member is removed from membership by a recommendation from Council that it is in the best interests of the Friends that membership is terminated. Such a recommendation may only be passed after the member has been given twenty one days notice in writing of the reasons why it is to be proposed and the member has been allowed to make representations to the Trustees. 

_9. Honorary membership._ 

- i By invitation, a Patron may be appointed, who shall become an honorary member. 

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ii If not appointed as Patron, honorary membership may be offered to: the Lord Bishop of Rochester, the Lord Lieutenant of the County of Kent, the Mayors or Chairmen (as appropriate) of the District Authorities within the Diocese of Rochester. 

iii Other persons may be recommended by Council to be honorary members of the Friends. 

_10. General Meetings._ 

i An annual general meeting must be held in each year and not more than fifteen months may elapse between successive annual general meetings. 

ii All general meetings other than annual general meetings shall be called special general meetings. 

iii The Trustees may call a special general meeting at any time. 

iv The Trustees must call a special general meeting within twenty eight days of being requested to do so by ten members or one tenth of the membership, whichever is the greater. The request must state the nature of the business to be discussed. 

## _11. Notice._ 

i The minimum period of notice required to hold any general meeting of the Friends is fourteen clear days. 

ii A general meeting may be called by shorter notice if so agreed by all members entitled to attend and vote. 

iii The notice must specify the date, time and place of the meeting and the general nature of the business to be transacted. The notice must state if it is an annual general meeting. 

iv The notice must be given to all members and to the members of Council and the Trustees. 

_12. Quorum._ 

i No business shall be transacted at any general meeting unless a quorum is present. 

ii A quorum is 30 members entitled to vote upon business to be conducted at the meeting, or 

one tenth of the total membership at the time, whichever is the lesser. 

iii If: 

a a quorum is not present within 30 minutes from the time appointed for the meeting, or 

- b during the meeting a quorum ceases to be present, 

the meeting shall be adjourned to such time and place as the chairman of the meeting shall determine. 

iv The Trustees must reconvene the meeting giving at least seven days clear notice stating the time and place of the reconvened meeting. 

v If no quorum is present at the reconvened meeting within fifteen minutes of the specified time the members present shall constitute the quorum for that meeting. 

## _13. Chair._ 

General meetings shall be chaired by the President, or failing that by the Vice president, or failing that by the Chairman, or failing that by the Vice chairman. If none of these is present and willing to chair the meeting, members present and eligible to vote may elect one of their number to chair the meeting. 

## _14. Adjournments._ 

i The members present at a meeting may resolve to adjourn the meeting. 

ii The chairman of the meeting must decide the date, time and place at which the meeting is to be reconvened unless the details are specified in the resolution. 

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iii No business shall be conducted at an adjourned meeting unless it could properly be conducted at the meeting had it not been adjourned. 

iv If a meeting is adjourned by resolution of the members for more than seven days, then seven clear days notice shall be given stating the date, time and place of the meeting. 

## _15. Votes._ 

Each member having made a paid up subscription as determined by the Friends in general meeting may have one vote, subject to the following categories: 

- i Individual adult membership: one vote 

- ii Joint adult membership: one vote each 

- iii Family membership: two votes (one for each adult member) 

- iv Individual life membership: one vote 

- v Joint life membership: one vote each 

- vi Corporate membership: one vote (for a representative nominated in writing) 

vii Honorary members and Associate members (under 21), having paid no subscription, shall have no voting rights. 

## _16. Management of the Friends._ 

i The Friends and its property shall be managed and administered by the Trustees. 

ii There shall be up to five Trustees appointed from within Council, one of whom shall be nominated by the Chapter of Rochester Cathedral, plus the Chairman, Vice chairman, the Hon. Treasurer, and the Hon. Secretary. Any vacancy may be filled from Council following recommendation from Council. 

iii An officer, Trustee and member of Council must be a member of the Friends or the nominated representative of an organisation that is a member. 

iv The policy of the Friends and all financial matters shall be decided by the Trustees after consultation with the Council. The Council shall be a consultative body to offer policy and operational recommendations to the Trustees. 

v The Trustees and the Council shall each meet at least four times in each calendar year. 

vi Eight members of the Council shall constitute a quorum at a meeting of the Council but must include either the President or Vice president and the Chairman or Vice chairman. 

vii The Trustees shall hold on trust the investments and other assets of the Friends and to consider recommendations from Council on these and other matters. 

_17. The Council._ 

i Membership of the Council shall consist of: the President and the Vice president, who shall be appointed from and by the Chapter of Rochester Cathedral, the Honorary Treasurer, the Honorary Secretary, up to twelve elected members and one representative from each of the three Rochester diocese Archdeaconries to be appointed by the relevant Archdeacon. The Council may co-opt a maximum of two members. 

ii The Chairman of the Friends shall be nominated from the existing Council members for election at the Annual General Meeting for a period of one year. 

iii The Vice chairman shall be elected for a period of one year, from existing Council members, at the first meeting of Council following the Annual General Meeting. 

iv The Honorary Treasurer shall be elected for a period of one year at the Annual General Meeting. Any vacancy arising between Annual General Meetings may be filled by nomination by the Trustees until the conclusion of the next following Annual General Meeting. 

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v The Honorary Secretary shall be elected for a period of one year at the Annual General Meeting. Any vacancy arising between Annual General Meetings may be filled by nomination by the Trustees until the conclusion of the next following Annual General Meeting. 

vi One third of the elected Council members shall be elected for a period of three years at the Annual General Meeting. Vacancies may be filled for the remaining period of each vacancy by election at the Annual General Meeting. Any vacancy arising between Annual General Meetings may be filled by nomination by Council until the conclusion of the next following Annual General Meeting. 

vii The elected Council members may seek re-election after the expiry of a period of three years but may not serve for more than three consecutive three year terms. 

viii  The Chairman, Treasurer and Secretary may seek re-election each year. 

ix No-one may be elected as a member of Council or as an officer at any Annual General Meeting unless prior to the meeting the Friends is given notice that: 

- a is signed by a member entitled to vote at the meeting, 

- b States the member’s intention to propose the appointment of a person to Council or as an officer, 

- c is signed by the person who is to be proposed to show his or her willingness to be appointed, 

x Council members appointed by an archdeacon shall serve for a term of three years and may not be appointed for more than three consecutive three year terms. 

_18. Powers of the Trustees._ 

i Subject to considering recommendations put forward by the Council, the Trustees must manage the business of the Friends and have the following powers in order to further the objects (but not for any other purpose): 

- a to raise funds. In doing so, the Friends must not undertake any permanent trading activity and must comply with any relevant statutory regulations, 

- b to co-operate with other charities, voluntary bodies and statutory authorities and to exchange information and advice with them, 

- c to establish or support any charitable trusts, associations or institutions formed for any of the charitable purposes included in the objects, 

- d to acquire, merge with or enter into any partnership or joint venture arrangement with any other charity formed for any of the objects, 

- e to set aside income as a reserve against future expenditure but only in accordance with a written policy about reserves, 

- f to obtain and pay for such goods and services as are necessary for carrying out the work of the Friends, 

- g to employ and remunerate such administrators as are necessary for carrying out the work of the Friends. Trustees, officers and members of Council may not be paid employees or receive any remuneration for services given other than reimbursement of properly incurred expenses, 

- h to open and operate such bank and other accounts as the Trustees consider necessary and to invest funds and to delegate the management of funds in the same manner and subject to the same conditions as the trustees of a trust are permitted to do by the Trustees Act 2000, 

- i to do all such other lawful things as are necessary for the achievement of the objects. 

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ii The Trustees may at any time consult such professional advisers as they deem appropriate, not being a member of Council, and shall have full power to pay any reasonable fees incurred out of the funds of the Friends. 

iii No alteration of this constitution or any special resolution shall have retrospective effect to invalidate any prior act of the Council. 

_19. Disqualification and removal of Trustees and members of Council._ 

A Trustee or member of Council shall cease such membership if he or she: 

- i is disqualified from acting (as a trustee) by virtue of sections 178 and 179 of the Charities Act 

- 2011, 

- ii ceases to be a member of the Friends, 

- iii resigns from Council, 

- iv is absent from Council meetings for three or more consecutive meetings. 

_20. Proceedings of Trustees and Council_ 

- i Trustees may regulate proceedings as thought fit, subject to the provisions of this constitution, 

- ii Any Trustee may call a meeting of Trustees, 

- iii Any Council member may call a meeting of Council, 

- iv The secretary or administrator must call a meeting of Council if requested or instructed to by a member of Council, 

- v Questions arising at a meeting must be decided by a majority of votes, 

vi In the case of an equality of votes, the person chairing the meeting shall have a casting vote, vii No decision may be made by Trustees or Council unless a quorum is present at the time the decision is purported to be made, 

vii The Trustees quorum shall be three. The Council quorum shall be eight or such larger number as shall be determined from time to time by Council. The Council quorum shall include either the President or Vice president and either the Chairman or Vice chairman of the Friends, 

viii A member of Council shall not be counted in the quorum present when any decision is made about any matter upon which that member is not entitled to vote, 

ix If the number of Council members is less than the number fixed as the quorum, the continuing members may act only for the purpose of filling vacancies or of calling a general meeting, 

x The person elected as chairman shall chair Trustee and Council meetings, xi If the Chairman is unwilling to preside or is not present, the members present may appoint one of their number to chair the meeting, 

xii The person chairing meetings of Trustees or Council shall have no functions or powers other than those conferred on him by this constitution or delegated to him or her in writing by the Trustees, 

xiii A resolution in writing signed by all Trustees, or all members of Council entitled to receive notice of a meeting of Trustees, or of Council and to vote upon the resolution shall be as valid and effectual as if it had been passed at a meeting of Trustees or of Council duly convened and held, 

xiv The resolution in writing may comprise several documents containing the text of the resolution in like form each signed by one or more members of Council. 

_21. Conflicts of interest and conflicts of loyalties._ 

A Trustee or Council member must: 

i declare the nature and extent of any interest, direct or indirect, which he or she has in a proposed transaction or arrangement with the Friends; and 

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ii absent him or herself from any discussions of the Friends’ Trustees in which it is possible that a conflict will arise between his or her duty to act solely in the interests of the Friends and any personal interest. 

## _22. Delegation._ 

The Trustees shall have power to constitute such committees as they deem necessary, such committees having power to co-opt members. The majority of members of any committee, including its chairman, shall be members of Council. The Friends’ Chairman shall be an ex-officio member of all committees. All acts and proceedings of any such committees shall be reported to the Trustees as soon as reasonably possible, and shall be subject to approval by the Trustees. 

## _23. Irregularities in proceedings._ 

i Subject to sub-clause ii of this clause, all acts done by a meeting of Trustees, or of Council or of a delegated committee, shall be valid notwithstanding the participation in any vote of a Trustee, Council member or committee member, who: 

- a was disqualified from holding office, 

- b had previously retired or who been obliged by the Constitution to vacate office, 

- c was not entitled to vote on the matter, whether by reason of a conflict of interest or otherwise; 

if, without: 

- d the vote of that Trustee, Council or committee member, and 

- e that Trustee, Council or committee member being counted in the quorum, 

the decision has been made by a majority of the Trustees, Council or committee members at a quorate meeting. 

ii Sub clause i of this clause does not permit a Trustee, Council or committee member to keep any benefit that may be conferred on him or her by any resolution if the resolution would otherwise have been void. 

iii No resolution or act of the Trustees, Council or committee, or the Friends in General Meeting, shall be invalidated by reason of any failure to give notice to any member or by reason of any procedural defect in the meeting unless it is shown that the failure or defect has materially prejudiced a member or beneficiary of the Friends. 

## _24. Minutes._ 

The Trustees must keep minutes of all: 

i appointments of officers and trustees, 

ii General meetings, Trustees’ meetings, Council meetings and committee meetings, including the names of those present and decisions made at the meeting. 

## _25. Accounts, Annual Report and Annual Return._ 

The Trustees must comply with their obligations under the Charities Act 2011 with regard to: 

- i the keeping of accounting records for the Friends, 

ii the preparation of annual statements of account in accordance with the provisions of any Statement of recommended practice issued by the Charity Commission and its transmission to the Commission, 

- iii the preparation of an Annual Report and its transmission to the Commission, 

- iv the preparation of an Annual Return and its transmission to the Commission, 

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## _26. Registered Particulars._ 

The Trustees must notify the Commission promptly of any changes to the Friends’ entry on the Central Register of Charities. 

## _27. Property._ 

The Trustees must ensure the title to all investments held by or on behalf of the Friends is vested either in a corporation entitled to act as custodian trustee or in not less than three individuals appointed by them as holding trustees. The terms of the appointment of holding trustees must provide that they may act only in accordance with lawful directions of the Trustees and that if they do so they will not be liable for the acts and defaults of the Trustees, members of Council or of the members of the Friends. 

## _28. Insurance._ 

The Trustees must insure suitably in respect of public liability, employer’s liability and trustees’ liability. 

## _29. Notices._ 

i Any notice required by this constitution to be given to or by any person must be in writing, or given using electronic communication. 

- ii A notice to be given to a member may be given: 

   - a personally, or 

   - b by prepaid post to his or her address, or 

   - c by leaving it at the address of the member, or 

   - d by giving it using electronic communications at the members address. 

iii A member who does not register an address with the Friends or who only registers an address not within the UK shall not be entitled to receive a notice from the Friends. 

iv A member present in person at any meeting of the Friends shall be deemed to have received notice of the meeting and of its purpose. 

- v a Proof that an envelope containing a notice was properly addressed, prepaid and posted shall be conclusive evidence that notice was given. 

   - b Proof that a notice contained in an electronic communication was sent shall be conclusive evidence that notice was given. 

   - c Notice shall be deemed to be given 48 hours after posting or after electronic communication was sent. 

## _30. Rules._ 

i The Trustees, after consultation with Council, may make rules for the conduct of their business, which may regulate the following matters, but are not restricted to: 

- a The admission of members, their rights and privileges, subscriptions, entrance fees and other fees or payments to be made. 

- b Procedures at meetings, insofar as they are not regulated by this constitution. 

- c The keeping of records. 

ii The Trustees may amend, add to or repeal the rules and must bring them to the notice of members. 

iii The rules shall be binding on members of the Friends. 

iv No rule shall be inconsistent with, or shall affect or repeal anything contained in this constitution. 

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## **REGISTERED CHARITY NO: 273973** 

## **THE ASSOCIATION OF** 

## **THE FRIENDS OF ROCHESTER CATHEDRAL** 

## **ANNUAL REPORT AND FINANCIAL STATEMENTS** 

|**FOR THE YEAR ENDED 31 DECEMBER 2025**||
|---|---|
|**CONTENTS**|**PAGE**|
|Annual Report of The Council|2 - 7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Financial Statements|11-13|



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## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

The Council is pleased to present their report together with the financial statements of the charity for the year ended 31 December 2025. 

## ADMINISTRATIVE DETAILS 

|Charity registration number||273973||
|---|---|---|---|
|Principal office||Garth House||
|||The Precinct||
|||Rochester||
|||Kent||
|||ME1 1SX||
|Members of the Council|President – The Dean of Rochester|The Very Revd. Dr|P J Hesketh, DL|
||Vice President|The Revd. Canon Dr G Giles||
||Chairman|M Snoswell|appointed in the period|
||Vice Chairman|T Wood|appointed in the period|
||Treasurer|P Smith||
||Archdeaconry Representative|M Chesterfield –|stood down in the period|
|||Mrs J Aldous||
|||Mr S Berry||
|||Mr D Carder||
|||Mrs B Jacobs||
|||Mr B Kemp|appointed in the period|
|||Mrs A White||
|||Mr A Aldous||
|||Mrs B Smith||
|||M Chesterfield|appointed in the period|
|In addition, the charity has the following posts:||||
|Independent Examiner||Aggarwal & Co Chartered Accountants||
|||5 London Road||
|||Rainham||
|||Gillingham||
|||Kent ME8 7RG||
|Bankers||Lloyds Bank plc||
|||142/146 High Street||
|||Chatham||
|||Kent||
|||ME4 4DQ||
|Investment Advisers||Cazenove Capital Management Ltd||
|||12 Moorgate||
|||London EC2R 6DA||



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GOVERNANCE 

## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Governing Document 

The Association of the Friends of Rochester Cathedral is an unincorporated association governed by its constitution adopted 11 June 1977 with five subsequent amendments, the last of which was 21 June 2025. 

## Recruitment and appointment of trustees 

The activities of the charity are vested in a Council. The members of the Council are its trustees for the purposes of charity law and throughout this report are collectively referred to as The Council. 

The members of the Council who have served during the year are set out on page 2. 

The Council consists of a President, Vice-President, Treasurer, not more than twelve elected members, three nominated Archdeaconry members and a maximum of two co-opted members. 

They are elected as follows: 

- The President is the current Dean of Rochester; 

- The Vice-President is a Residentiary Canon of Rochester nominated by the Chapter; A Chairman is nominated from the elected Council members and ratified annually at the Annual General 

- - Meeting; 

- A Vice-Chairman is elected annually by the Council at the first Council Meeting following the AGM; 

- The Treasurer is elected annually at the Annual General Meeting; 

- Archdeaconry representatives are appointed for a three-year period. 

- One third of the elected members are appointed at the AGM; members who have served for two consecutive periods of three years shall not be eligible for further re-election until a period of one year has elapsed. 

## Organisation and decisions 

The Council meets at least four times a year. It has power to establish committees as necessary but all policy and financial matters are decided by the Council. 

The Council consults and liaises with the Chapter as to the requirements of the Cathedral and particularly the condition and needs of its fabric and treasures. The Council makes proposals to the Chapter as to the manner in which the income and any permitted capital shall be spent to the greatest advantage of the Cathedral. 

## OBJECTIVES AND ACTIVITIES 

## Objects of the charity 

The objects of the charity are to assist the Chapter to: 

- preserve and maintain the fabric, fittings, ornaments, furniture and monuments of Rochester Cathedral and the lands used in connection therewith; 

- preserve and maintain the worship and services in Rochester Cathedral; 

- further the religious and charitable works of the Cathedral; and promote public interest in the charitable work and the life of the Cathedral. 

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**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Aims and activities 

To achieve its objects, the charity: 

- offers membership to all who are interested in the aims of the charity; 

- consults and liaises with the Chapter as to the requirements of the Cathedral; 

- makes grants to the Chapter of income and permitted capital; and 

- offer members a number of social events and visits. 

The Council has complied with the duty in section 17(5) of the Charities Act 2011 to have regard to guidance published by the Charity Commission on public benefit. 

The public and members have continued to benefit from the charity's activities. The charity continues to make grants to the Chapter for projects to maintain and improve the Cathedral. 

Putting on social events is another way in which the members and their guests benefit from the social interaction. 

## ACHIEVEMENTS AND PERFORMANCE 

In 2022 we made a substantial contribution of £340,255 to the Cathedral to fulfil our commitment to provide £500,000 in total towards their lighting project. Following the past two years, 2023 and 2024, of consolidation, in 2025 we have contributed £142,078 as part payment of pledges made to the Cathedral, £100,000 towards the refurbishment of the Song School and £300,000 towards fire safety measures. We were delighted to receive a legacy and donations of £6,102, (£3,718 – 2024) which has boosted income. 

Social events have taken place with a well-attended Viennese concert which made a useful contribution to funds. 

## FINANCIAL REVIEW 

Total income for the year amounted to £56,362 (2024: £51,450). Investment income remained the largest source of income at £31,723. Membership subscriptions generated £9,475 while social events generated £8,872. Donations and legacies during the year amounted to £6,102. 

Total expenditure for the year was £173,446 (2024: £40,695). This increase primarily reflects the grant of £142,078 made to the Chapter of Rochester Cathedral during the year. Other expenditure included support costs of £20,990, social event costs of £6,598, book of memory costs of £100 and investment management fees of £3,680. 

Before investment gains the charity recorded net expenditure of £117,084. Investment markets performed strongly during the year generating gains of £126,537. After recognising these gains, the charity recorded a net increase in funds of £9,453. 

Total funds carried forward at 31 December 2025 were £1,004,367 comprising unrestricted funds of £162,465 and endowment funds of £841,902. 

## Review of the activities 

The accounts are for the year ended 31 December 2025 shows that the Association has increased its income from donations and legacies in the year under review, and has managed to maintain a stable position through diversified investments and endowment funds. The rise in expenditure, particularly on grants and support costs, needs to be balanced with efforts to grow income further, especially from fundraising sources. However, the charity remains in a strong financial position, with total funds increasing and continued investment returns supporting its long-term sustainability. 

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## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Total Income 

Total income for 2025 amounted to £56,362, an increase from £51,450 in 2024. This increase was mainly driven by a significant increase in Donations and Legacies, which increased from £3,718 in 2024 to £6,102 in 2025. 

- Membership Subscriptions and Social Events remained relatively stable, with a slight increase in membership income from £9,374 in 2024 to £9,475 in 2025. Social event income slightly decreased to £8,872 from £8,965 in 2024. 

- Investment income remained stable with a slight increase at £31,723, close to the £29,333 earned in 2024, reflecting steady returns from the charity’s investments. 

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## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Total Expenditure 

This increased from £40,695 in 2024 to £173,446 in 2025, representing a 326% rise. This increase was driven by: 

- A significant rise in Grants to the Chapter for the upkeep of Rochester Cathedral: up from £11,505 to £142,078 in 2025. 

- Increased spending on Social Events (£6,598, up from £6,367 in 2024). 

- Support Costs increased from £19,249 in 2024 to £20,990 in 2025. 

## Net Income and Investment Gains 

- Net Expenditure for the year was £117,084, a sharp decrease compared to a surplus of £10,755 in 2024. This is primarily due to the higher expenditure on grants. 

- Gains on Revaluation of Investments contributed a strong £126,537 in 2025, a significant improvement over the £39,921 gain in 2024. This gain helped offset the net expenditure and contributed to a small overall increase in funds of £9,453 

## Funds and Balance Sheet Position 

- Total Funds carried forward as of 31 December 2025 amounted to £1,004,367, an increase from £994,914 in 2024. This growth was driven by both the investment gains. 

- Unrestricted Funds increased to £162,465, up from £145,831 in 2024, reflecting a solid buffer for general charity activities. 

- Endowment Funds experienced a small decrease from £849,082 to £841,902. 

## Investment Performance 

- The charity's investment portfolio had a market value of £915,593 as of 31 December 2025, compared to £892,736 in 2024, reflecting a positive return on investment. 

- The portfolio is diversified, with allocations to UK and global equities, bonds, multi-asset funds, and property. The gains were particularly driven by equities and bonds. 

## Key Financial Ratios and Trends 

- Income/Expenditure Ratio: Total income increased by 10%, but expenditure increased by 326%, leading to a deficit of £117,084. However, this trend should be monitored to ensure the sustainability of operations. 

- Investment Return: The charity experienced a solid return from its investments, which contributed significantly to the overall financial health. 

## Reserves policy 

The Council has examined the level of free reserves (that is those funds not tied up in designated, restricted and endowment funds) the charity will require to sustain its operations over a period where income may be curtailed or delayed. The Council considers that the most appropriate level of free reserves at 31 December 2025 should equate to one year's average charitable income, excluding legacies. The Council's best estimate of the amount required is in the region of £50,000. The actual free reserves were £162,465. 

## Investment policy 

The Council has considered the most appropriate policy for investing the endowment funds which will be the main source of future income for the charity. It has found that specialised unit trusts designed for the charity sector meet its requirements to generate income and capital growth. 

During the year our investments generated income of £31,723 and a capital growth of 2.56%, both of which are improvements over the performance in 2024. As we consider our investments to be of a long term nature, put in place to generate income, there is no proposal to consider further encashments at the present time. 

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## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Responsibilities of The Council 

The Council is responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Charity law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity as at the balance sheet date and of its incoming resources and application of resources for the financial period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The Council is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the constitution. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by the Council on …………..… and signed on its behalf P Smith 

Treasurer 

7 



## **INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL** 

I report to the charity trustees ("the Council") on my examination of the accounts of the Association of the Friends of Rochester Cathedral ("the Charity") for the year ended 31 December 2025, which are set out on pages 9 to 13. 

## Responsibilities and basis of report 

As the Council of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). 

I report in respect of my examination of the Council’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commissioner under section 145(5)(b) of the 2011 Act. 

## Independent examiner's statement 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

- accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 

- the accounts do not accord with those records; or 

- the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Aggarwal & Co Chartered Accountants 5 London Road Rainham Gillingham Kent, ME8 7RG 

8 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025** 

|**INCOME FROM:**<br>Donations and legacies<br>Charitable activities<br>- membership subscriptions<br>- social events<br>- book of memory<br>Investments<br>Total incoming resources<br>**EXPENDITURE ON:**<br>Charitable activities<br>- grants to Chapter for the upkeep<br>of Rochester Cathedral<br>- social events / publication<br>- book of memory<br>- support costs<br>Other costs<br>- investment management fees<br>Total resources expended<br>**NET INCOME (EXPENDITURE)**<br>**note**<br>3<br>Gains on revaluation of investments<br>**NET MOVEMENT IN FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|31,723<br>-<br>31,723<br>29,333<br>**Unrestricted**<br>**income**<br>**Endowment**<br>**funds**<br>**funds**<br>**£**<br>**£**<br>**Total**<br>**Total**<br>**Funds**<br>**Funds**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>6,102<br>-<br>6,102<br>3,718<br>9,475<br>-<br>8,872<br>-<br>190<br>-<br>9,475<br>9,374<br>8,872<br>8,965<br>190<br>60|
|---|---|
||56,362<br>-<br>56,362<br>51,450|
||142,078<br>-<br>142,078<br>11,505<br>6,598<br>-<br>6,598<br>6,367<br>100<br>-<br>100<br>100<br>20,990<br>-<br>20,990<br>19,249|
||169,946<br>3,500<br>173,446<br>40,695<br>169,766<br>-<br>169,766<br>37,221<br>180<br>3,500<br>3,680<br>3,474|
||130,217<br>(3,680)<br>126,537<br>39,921<br>(113,584)<br>(3,500)<br>(117,084)<br>10,755|
||16,633<br>(7,180)<br>9,453<br>50,676<br>145,832<br>849,082<br>994,914<br>944,238<br>162,465<br>841,902<br>1,004,367<br>994,914|



All income and expenditure derive from continuing activities. 

The Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 11 to 13 form part of these financial statements. 

9 



## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL BALANCE SHEET AT 31 DECEMBER 2025** 

|7<br> <br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**FUNDS OF THE CHARITY**<br>Endowment funds<br>8<br>Unrestricted income funds<br>**TOTAL CHARITY FUNDS**<br>**FIXED ASSETS**<br>Investments<br>**CURRENT ASSETS**<br>Stocks<br>Debtors and prepayments<br>Cash at bank and in hand<br>**CREDITORS: amounts falling due within one year**<br>Other creditors and accruals<br>**note**||915,593<br>-<br> <br>745<br>89,656<br>90,401<br>(1,627)<br> 88,774<br> 1,004,367<br>841,902<br>162,465<br> 1,004,367<br>**2025**<br>**£**<br>**£**|915,593<br>-<br> <br>745<br>89,656<br>90,401<br>(1,627)<br> 88,774<br> 1,004,367<br>841,902<br>162,465<br> 1,004,367<br>**2025**<br>**£**<br>**£**||892,736<br>667<br>200<br>110,449<br>111,316<br>(9,138)<br>102,178<br>994,914<br>849,082<br>145,832<br>994,914<br>**2024**<br>**£**<br>**£**|892,736<br>667<br>200<br>110,449<br>111,316<br>(9,138)<br>102,178<br>994,914<br>849,082<br>145,832<br>994,914<br>**2024**<br>**£**<br>**£**|
|---|---|---|---|---|---|---|
||||||||
||||||<br>||
|||||||994,914<br>849,082<br>145,832|
|||||||994,914|



The notes on pages 11 to 13 form part of these financial statements. 

Approved by the Council on ……….…… and signed on its behalf P Smith 

Treasurer 

10 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **1. STATUTORY INFORMATION** 

The Association of the Friends of Rochester Cathedral is an unincorporated association registered with the Charity Commission for England and Wales. The charity's registered number and principal address can be found on page 2. 

The presentation currency of the financial statements is the Pound Sterling (£). 

## **2. ACCOUNTING POLICIES** 

## (a) Accounting basis and standards 

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the inclusion of investments at fair value. 

- (b) Income 

Income is included in the period to which it relates and allocated to specific endowment, restricted or unrestricted funds as appropriate in accordance with any wishes of the donor. Income is not included in the Statement of Financial Activities net of expenditure. 

Income received in advance for activities for generating funds, such as social events, is deferred until the completion of the event. Such amounts received are shown on the balance sheet as deferred income. This income is not usually received more than one year in advance of the function. 

## (c) Volunteers and donated services and facilities 

No value is incorporated into these financial statements for the services provided by volunteers or where services are provided to the charity as a donation that would normally be purchased from suppliers. 

## (d) Expenditure and recognition of liabilities 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. 

## (e) Investments 

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year 

## (f) Other financial instruments 

The charity enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks and other third parties. Basic financial instruments are recognised at amortised cost, with changes recognised in the Statement of Financial Activities. 

## (g) Stocks 

Stocks are included at the lower of cost and net realisable value. Stocks consists of publications for resale. 

11 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **2. ACCOUNTING POLICIES ( continued)** 

## (h) Funds structure 

The charity has endowment funds which primarily must be held permanently by the charity, principally as investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Part of the endowment funds are expendable where the trustees can exercise the power to convert the property into income. 

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. 

## **3. SUPPORT COSTS** 

|Salaries (of one part time employee)<br>Office rent and expenses<br>Insurance<br>Annual report, printing, postage and stationery<br>Independent examiner|**2025**<br>**£**<br>10,350<br>5,293<br>738<br>2,869<br>1740<br>20,990|**2024**<br>**£**<br>9,690<br>3,783<br>716<br>4,340<br>720|
|---|---|---|
|||19,249|



## **4. TRUSTEE REMUNERATION AND EXPENSES** 

Neither the trustees nor any person connected with them have received any remuneration or reimbursed expenses during the year. 

## **5. RELATED PARTY TRANSACTIONS** 

There are no related party transactions in the current or preceding year. 

## **6. TAXATION** 

The charity is a registered charity and no provision is considered necessary for taxation. 

12 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **7. INVESTMENT ASSETS** 

|**DOWMENT FUNDS**<br>Market value at beginning of year<br>Investments sold and cash withdrawn<br>Investment management fees<br>Net gains on revaluation<br>Market value at end of year<br>Investments comprise various managed unit funds:<br>- UK and global equities<br>- Bonds<br>- Multi-asset funds<br>- Property<br>- Cash<br>Balance at 1 January 2025<br>Expenditure<br>Net gains on revaluation<br>Balance at 31 December 2025|**2025**<br>**£**<br>892,736<br>(100,000)<br>(3,680)<br>___126,537<br>915,593<br>607,030<br>138,958<br>96,589<br>43,205<br>____ 29,811<br>915,593<br>**Permanent**<br>**Expendable**<br>**£**<br>**£**<br>727,721<br>121,361<br>(3,198)<br>(302)<br>(3,680)<br>-||**2024**<br>**£**<br>856,289<br>-<br>(3,474)<br>39,921|
|---|---|---|---|
||||892,736<br>576,090<br>135,649<br>138,548<br>42,449<br>-|
||||892,736<br>**Total**<br>**£**<br>849,082<br>(3,500)<br>(3,680)<br>841,902|
||720,843<br>121,059|||



## **8. ENDOWMENT FUNDS** 

## **9. ANALYSIS OF ASSETS BETWEEN FUNDS** 

|Fixed assets investments<br>Cash at bank and in hand<br>Other net current assets|**Unrestricted**<br>**Endowment**<br>**Funds**<br>**Funds**<br>**Total**<br>**£**<br>**£**<br>**£**<br>73,691<br>841,902<br>915,593<br>89,656<br>-<br>89,656<br> (882)<br>-<br>(882)<br>162,465<br>841,902<br>1,004,367|
|---|---|



13 



## **REGISTERED CHARITY NO: 273973** 

## **THE ASSOCIATION OF** 

## **THE FRIENDS OF ROCHESTER CATHEDRAL** 

## **ANNUAL REPORT AND FINANCIAL STATEMENTS** 

|**FOR THE YEAR ENDED 31 DECEMBER 2025**||
|---|---|
|**CONTENTS**|**PAGE**|
|Annual Report of The Council|2 - 7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Financial Statements|11-13|



1 



## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

The Council is pleased to present their report together with the financial statements of the charity for the year ended 31 December 2025. 

## ADMINISTRATIVE DETAILS 

|Charity registration number||273973||
|---|---|---|---|
|Principal office||Garth House||
|||The Precinct||
|||Rochester||
|||Kent||
|||ME1 1SX||
|Members of the Council|President – The Dean of Rochester|The Very Revd. Dr|P J Hesketh, DL|
||Vice President|The Revd. Canon Dr G Giles||
||Chairman|M Snoswell|appointed in the period|
||Vice Chairman|T Wood|appointed in the period|
||Treasurer|P Smith||
||Archdeaconry Representative|M Chesterfield –|stood down in the period|
|||Mrs J Aldous||
|||Mr S Berry||
|||Mr D Carder||
|||Mrs B Jacobs||
|||Mr B Kemp|appointed in the period|
|||Mrs A White||
|||Mr A Aldous||
|||Mrs B Smith||
|||M Chesterfield|appointed in the period|
|In addition, the charity has the following posts:||||
|Independent Examiner||Aggarwal & Co Chartered Accountants||
|||5 London Road||
|||Rainham||
|||Gillingham||
|||Kent ME8 7RG||
|Bankers||Lloyds Bank plc||
|||142/146 High Street||
|||Chatham||
|||Kent||
|||ME4 4DQ||
|Investment Advisers||Cazenove Capital Management Ltd||
|||12 Moorgate||
|||London EC2R 6DA||



2 



GOVERNANCE 

## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Governing Document 

The Association of the Friends of Rochester Cathedral is an unincorporated association governed by its constitution adopted 11 June 1977 with five subsequent amendments, the last of which was 21 June 2025. 

## Recruitment and appointment of trustees 

The activities of the charity are vested in a Council. The members of the Council are its trustees for the purposes of charity law and throughout this report are collectively referred to as The Council. 

The members of the Council who have served during the year are set out on page 2. 

The Council consists of a President, Vice-President, Treasurer, not more than twelve elected members, three nominated Archdeaconry members and a maximum of two co-opted members. 

They are elected as follows: 

- The President is the current Dean of Rochester; 

- The Vice-President is a Residentiary Canon of Rochester nominated by the Chapter; A Chairman is nominated from the elected Council members and ratified annually at the Annual General 

- - Meeting; 

- A Vice-Chairman is elected annually by the Council at the first Council Meeting following the AGM; 

- The Treasurer is elected annually at the Annual General Meeting; 

- Archdeaconry representatives are appointed for a three-year period. 

- One third of the elected members are appointed at the AGM; members who have served for two consecutive periods of three years shall not be eligible for further re-election until a period of one year has elapsed. 

## Organisation and decisions 

The Council meets at least four times a year. It has power to establish committees as necessary but all policy and financial matters are decided by the Council. 

The Council consults and liaises with the Chapter as to the requirements of the Cathedral and particularly the condition and needs of its fabric and treasures. The Council makes proposals to the Chapter as to the manner in which the income and any permitted capital shall be spent to the greatest advantage of the Cathedral. 

## OBJECTIVES AND ACTIVITIES 

## Objects of the charity 

The objects of the charity are to assist the Chapter to: 

- preserve and maintain the fabric, fittings, ornaments, furniture and monuments of Rochester Cathedral and the lands used in connection therewith; 

- preserve and maintain the worship and services in Rochester Cathedral; 

- further the religious and charitable works of the Cathedral; and promote public interest in the charitable work and the life of the Cathedral. 

3 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Aims and activities 

To achieve its objects, the charity: 

- offers membership to all who are interested in the aims of the charity; 

- consults and liaises with the Chapter as to the requirements of the Cathedral; 

- makes grants to the Chapter of income and permitted capital; and 

- offer members a number of social events and visits. 

The Council has complied with the duty in section 17(5) of the Charities Act 2011 to have regard to guidance published by the Charity Commission on public benefit. 

The public and members have continued to benefit from the charity's activities. The charity continues to make grants to the Chapter for projects to maintain and improve the Cathedral. 

Putting on social events is another way in which the members and their guests benefit from the social interaction. 

## ACHIEVEMENTS AND PERFORMANCE 

In 2022 we made a substantial contribution of £340,255 to the Cathedral to fulfil our commitment to provide £500,000 in total towards their lighting project. Following the past two years, 2023 and 2024, of consolidation, in 2025 we have contributed £142,078 as part payment of pledges made to the Cathedral, £100,000 towards the refurbishment of the Song School and £300,000 towards fire safety measures. We were delighted to receive a legacy and donations of £6,102, (£3,718 – 2024) which has boosted income. 

Social events have taken place with a well-attended Viennese concert which made a useful contribution to funds. 

## FINANCIAL REVIEW 

Total income for the year amounted to £56,362 (2024: £51,450). Investment income remained the largest source of income at £31,723. Membership subscriptions generated £9,475 while social events generated £8,872. Donations and legacies during the year amounted to £6,102. 

Total expenditure for the year was £173,446 (2024: £40,695). This increase primarily reflects the grant of £142,078 made to the Chapter of Rochester Cathedral during the year. Other expenditure included support costs of £20,990, social event costs of £6,598, book of memory costs of £100 and investment management fees of £3,680. 

Before investment gains the charity recorded net expenditure of £117,084. Investment markets performed strongly during the year generating gains of £126,537. After recognising these gains, the charity recorded a net increase in funds of £9,453. 

Total funds carried forward at 31 December 2025 were £1,004,367 comprising unrestricted funds of £162,465 and endowment funds of £841,902. 

## Review of the activities 

The accounts are for the year ended 31 December 2025 shows that the Association has increased its income from donations and legacies in the year under review, and has managed to maintain a stable position through diversified investments and endowment funds. The rise in expenditure, particularly on grants and support costs, needs to be balanced with efforts to grow income further, especially from fundraising sources. However, the charity remains in a strong financial position, with total funds increasing and continued investment returns supporting its long-term sustainability. 

4 



## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Total Income 

Total income for 2025 amounted to £56,362, an increase from £51,450 in 2024. This increase was mainly driven by a significant increase in Donations and Legacies, which increased from £3,718 in 2024 to £6,102 in 2025. 

- Membership Subscriptions and Social Events remained relatively stable, with a slight increase in membership income from £9,374 in 2024 to £9,475 in 2025. Social event income slightly decreased to £8,872 from £8,965 in 2024. 

- Investment income remained stable with a slight increase at £31,723, close to the £29,333 earned in 2024, reflecting steady returns from the charity’s investments. 

5 



## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Total Expenditure 

This increased from £40,695 in 2024 to £173,446 in 2025, representing a 326% rise. This increase was driven by: 

- A significant rise in Grants to the Chapter for the upkeep of Rochester Cathedral: up from £11,505 to £142,078 in 2025. 

- Increased spending on Social Events (£6,598, up from £6,367 in 2024). 

- Support Costs increased from £19,249 in 2024 to £20,990 in 2025. 

## Net Income and Investment Gains 

- Net Expenditure for the year was £117,084, a sharp decrease compared to a surplus of £10,755 in 2024. This is primarily due to the higher expenditure on grants. 

- Gains on Revaluation of Investments contributed a strong £126,537 in 2025, a significant improvement over the £39,921 gain in 2024. This gain helped offset the net expenditure and contributed to a small overall increase in funds of £9,453 

## Funds and Balance Sheet Position 

- Total Funds carried forward as of 31 December 2025 amounted to £1,004,367, an increase from £994,914 in 2024. This growth was driven by both the investment gains. 

- Unrestricted Funds increased to £162,465, up from £145,831 in 2024, reflecting a solid buffer for general charity activities. 

- Endowment Funds experienced a small decrease from £849,082 to £841,902. 

## Investment Performance 

- The charity's investment portfolio had a market value of £915,593 as of 31 December 2025, compared to £892,736 in 2024, reflecting a positive return on investment. 

- The portfolio is diversified, with allocations to UK and global equities, bonds, multi-asset funds, and property. The gains were particularly driven by equities and bonds. 

## Key Financial Ratios and Trends 

- Income/Expenditure Ratio: Total income increased by 10%, but expenditure increased by 326%, leading to a deficit of £117,084. However, this trend should be monitored to ensure the sustainability of operations. 

- Investment Return: The charity experienced a solid return from its investments, which contributed significantly to the overall financial health. 

## Reserves policy 

The Council has examined the level of free reserves (that is those funds not tied up in designated, restricted and endowment funds) the charity will require to sustain its operations over a period where income may be curtailed or delayed. The Council considers that the most appropriate level of free reserves at 31 December 2025 should equate to one year's average charitable income, excluding legacies. The Council's best estimate of the amount required is in the region of £50,000. The actual free reserves were £162,465. 

## Investment policy 

The Council has considered the most appropriate policy for investing the endowment funds which will be the main source of future income for the charity. It has found that specialised unit trusts designed for the charity sector meet its requirements to generate income and capital growth. 

During the year our investments generated income of £31,723 and a capital growth of 2.56%, both of which are improvements over the performance in 2024. As we consider our investments to be of a long term nature, put in place to generate income, there is no proposal to consider further encashments at the present time. 

6 



## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL ANNUAL REPORT OF THE COUNCIL** 

## Responsibilities of The Council 

The Council is responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Charity law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity as at the balance sheet date and of its incoming resources and application of resources for the financial period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The Council is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the constitution. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by the Council on …………..… and signed on its behalf P Smith 

Treasurer 

7 



## **INDEPENDENT EXAMINER'S REPORT TO THE COUNCIL OF THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL** 

I report to the charity trustees ("the Council") on my examination of the accounts of the Association of the Friends of Rochester Cathedral ("the Charity") for the year ended 31 December 2025, which are set out on pages 9 to 13. 

## Responsibilities and basis of report 

As the Council of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). 

I report in respect of my examination of the Council’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commissioner under section 145(5)(b) of the 2011 Act. 

## Independent examiner's statement 

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

- accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 

- the accounts do not accord with those records; or 

- the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Aggarwal & Co Chartered Accountants 5 London Road Rainham Gillingham Kent, ME8 7RG 

8 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025** 

|**INCOME FROM:**<br>Donations and legacies<br>Charitable activities<br>- membership subscriptions<br>- social events<br>- book of memory<br>Investments<br>Total incoming resources<br>**EXPENDITURE ON:**<br>Charitable activities<br>- grants to Chapter for the upkeep<br>of Rochester Cathedral<br>- social events / publication<br>- book of memory<br>- support costs<br>Other costs<br>- investment management fees<br>Total resources expended<br>**NET INCOME (EXPENDITURE)**<br>**note**<br>3<br>Gains on revaluation of investments<br>**NET MOVEMENT IN FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|31,723<br>-<br>31,723<br>29,333<br>**Unrestricted**<br>**income**<br>**Endowment**<br>**funds**<br>**funds**<br>**£**<br>**£**<br>**Total**<br>**Total**<br>**Funds**<br>**Funds**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>6,102<br>-<br>6,102<br>3,718<br>9,475<br>-<br>8,872<br>-<br>190<br>-<br>9,475<br>9,374<br>8,872<br>8,965<br>190<br>60|
|---|---|
||56,362<br>-<br>56,362<br>51,450|
||142,078<br>-<br>142,078<br>11,505<br>6,598<br>-<br>6,598<br>6,367<br>100<br>-<br>100<br>100<br>20,990<br>-<br>20,990<br>19,249|
||169,946<br>3,500<br>173,446<br>40,695<br>169,766<br>-<br>169,766<br>37,221<br>180<br>3,500<br>3,680<br>3,474|
||130,217<br>(3,680)<br>126,537<br>39,921<br>(113,584)<br>(3,500)<br>(117,084)<br>10,755|
||16,633<br>(7,180)<br>9,453<br>50,676<br>145,832<br>849,082<br>994,914<br>944,238<br>162,465<br>841,902<br>1,004,367<br>994,914|



All income and expenditure derive from continuing activities. 

The Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 11 to 13 form part of these financial statements. 

9 



## **THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL BALANCE SHEET AT 31 DECEMBER 2025** 

|7<br> <br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**FUNDS OF THE CHARITY**<br>Endowment funds<br>8<br>Unrestricted income funds<br>**TOTAL CHARITY FUNDS**<br>**FIXED ASSETS**<br>Investments<br>**CURRENT ASSETS**<br>Stocks<br>Debtors and prepayments<br>Cash at bank and in hand<br>**CREDITORS: amounts falling due within one year**<br>Other creditors and accruals<br>**note**||915,593<br>-<br> <br>745<br>89,656<br>90,401<br>(1,627)<br> 88,774<br> 1,004,367<br>841,902<br>162,465<br> 1,004,367<br>**2025**<br>**£**<br>**£**|915,593<br>-<br> <br>745<br>89,656<br>90,401<br>(1,627)<br> 88,774<br> 1,004,367<br>841,902<br>162,465<br> 1,004,367<br>**2025**<br>**£**<br>**£**||892,736<br>667<br>200<br>110,449<br>111,316<br>(9,138)<br>102,178<br>994,914<br>849,082<br>145,832<br>994,914<br>**2024**<br>**£**<br>**£**|892,736<br>667<br>200<br>110,449<br>111,316<br>(9,138)<br>102,178<br>994,914<br>849,082<br>145,832<br>994,914<br>**2024**<br>**£**<br>**£**|
|---|---|---|---|---|---|---|
||||||||
||||||<br>||
|||||||994,914<br>849,082<br>145,832|
|||||||994,914|



The notes on pages 11 to 13 form part of these financial statements. 

Approved by the Council on ……….…… and signed on its behalf P Smith 

Treasurer 

10 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **1. STATUTORY INFORMATION** 

The Association of the Friends of Rochester Cathedral is an unincorporated association registered with the Charity Commission for England and Wales. The charity's registered number and principal address can be found on page 2. 

The presentation currency of the financial statements is the Pound Sterling (£). 

## **2. ACCOUNTING POLICIES** 

## (a) Accounting basis and standards 

The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the inclusion of investments at fair value. 

- (b) Income 

Income is included in the period to which it relates and allocated to specific endowment, restricted or unrestricted funds as appropriate in accordance with any wishes of the donor. Income is not included in the Statement of Financial Activities net of expenditure. 

Income received in advance for activities for generating funds, such as social events, is deferred until the completion of the event. Such amounts received are shown on the balance sheet as deferred income. This income is not usually received more than one year in advance of the function. 

## (c) Volunteers and donated services and facilities 

No value is incorporated into these financial statements for the services provided by volunteers or where services are provided to the charity as a donation that would normally be purchased from suppliers. 

## (d) Expenditure and recognition of liabilities 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. 

## (e) Investments 

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year 

## (f) Other financial instruments 

The charity enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks and other third parties. Basic financial instruments are recognised at amortised cost, with changes recognised in the Statement of Financial Activities. 

## (g) Stocks 

Stocks are included at the lower of cost and net realisable value. Stocks consists of publications for resale. 

11 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **2. ACCOUNTING POLICIES ( continued)** 

## (h) Funds structure 

The charity has endowment funds which primarily must be held permanently by the charity, principally as investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Part of the endowment funds are expendable where the trustees can exercise the power to convert the property into income. 

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. 

## **3. SUPPORT COSTS** 

|Salaries (of one part time employee)<br>Office rent and expenses<br>Insurance<br>Annual report, printing, postage and stationery<br>Independent examiner|**2025**<br>**£**<br>10,350<br>5,293<br>738<br>2,869<br>1740<br>20,990|**2024**<br>**£**<br>9,690<br>3,783<br>716<br>4,340<br>720|
|---|---|---|
|||19,249|



## **4. TRUSTEE REMUNERATION AND EXPENSES** 

Neither the trustees nor any person connected with them have received any remuneration or reimbursed expenses during the year. 

## **5. RELATED PARTY TRANSACTIONS** 

There are no related party transactions in the current or preceding year. 

## **6. TAXATION** 

The charity is a registered charity and no provision is considered necessary for taxation. 

12 



**THE ASSOCIATION OF THE FRIENDS OF ROCHESTER CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **7. INVESTMENT ASSETS** 

|**DOWMENT FUNDS**<br>Market value at beginning of year<br>Investments sold and cash withdrawn<br>Investment management fees<br>Net gains on revaluation<br>Market value at end of year<br>Investments comprise various managed unit funds:<br>- UK and global equities<br>- Bonds<br>- Multi-asset funds<br>- Property<br>- Cash<br>Balance at 1 January 2025<br>Expenditure<br>Net gains on revaluation<br>Balance at 31 December 2025|**2025**<br>**£**<br>892,736<br>(100,000)<br>(3,680)<br>___126,537<br>915,593<br>607,030<br>138,958<br>96,589<br>43,205<br>____ 29,811<br>915,593<br>**Permanent**<br>**Expendable**<br>**£**<br>**£**<br>727,721<br>121,361<br>(3,198)<br>(302)<br>(3,680)<br>-||**2024**<br>**£**<br>856,289<br>-<br>(3,474)<br>39,921|
|---|---|---|---|
||||892,736<br>576,090<br>135,649<br>138,548<br>42,449<br>-|
||||892,736<br>**Total**<br>**£**<br>849,082<br>(3,500)<br>(3,680)<br>841,902|
||720,843<br>121,059|||



## **8. ENDOWMENT FUNDS** 

## **9. ANALYSIS OF ASSETS BETWEEN FUNDS** 

|Fixed assets investments<br>Cash at bank and in hand<br>Other net current assets|**Unrestricted**<br>**Endowment**<br>**Funds**<br>**Funds**<br>**Total**<br>**£**<br>**£**<br>**£**<br>73,691<br>841,902<br>915,593<br>89,656<br>-<br>89,656<br> (882)<br>-<br>(882)<br>162,465<br>841,902<br>1,004,367|
|---|---|



13