The Friends of Dorchester Abbey Annual Report and Accounts for the year ended 31st March 2021 Contents Trustees, Report Page 14 Statement of Financial Activities Page 5 Balance Sheet Page 6 Notes to the Accounts Page 7-9 Independent Examinerfs Report Page 10 Registered Charity Number: 275819
The Friends of Dorchester Abbey Trustee Report for the year ended 31° March 2021 Registered Charity Number: 275819 Principal Office: Dorchester Abbey Rertory, Dorchester on Thames, Oxon. Objectives and Activities The Trust was estsblished in 1978 to raise funds for charitable purposes connerted with Dorchester Abbey, including all associated buildings within the curtilage of the Abbey grounds. In particular. the Trust uses Its income for the restoration and repair of the Abbey furnishings. equipment. monuments. windows, organ, heating, electrical system. lightin& ornaments and embellishment The Friends are neither a general funder of Abbey related activities nor a funder of last resort. Anyone may become a Friend for a minimum subscription. currentty £25 per annum or £350 for a Life membership. There is also a sub-group called The Beauforest Society. These latter members pay a subscription of a minimum of £100 per annum. Each subscription constitutes a donation to The Friends of Dorchester Abbey. The FrndS meet periodicalty each year for social events and visits to places of historical interest. Structure, Governance and Management Trustees The Trustees may be between five and twenty-four in number. During the year the followlng served as Trustees: Hon. President The Rt. Revd Colin Fletcher OBE (Bishop of Dorthester) - Retired 4th October 2020 Ex-officio Trustees The Revd Canon Sue Booys• Miss Gail Thomas Mr Malcom Lucas - Appointed 21st March 2021 Trustees Mr Richard Dick (Chairnn) Mr John Taylor (Wice Chairnian) Mrs Stephanie Fomian Mrs Tanya Hawley- Died 26 January 2021 Mrs Christlne Dawson Page I
The Friends of Dorchester Abbey Trustees, Report for the year ended 31° March 2021 (continued) Trustees (contlnued) Mr Nlck Jenklns (Hon. Treasurer) Mrs Honor Juniper (Membership Secretary) Prof Ingrid Lunt Dr David Parker Mrs Mary Saunders Mrs Hilary Warburton (Hon. Secretary) Achievements and Performance Throughout the year The Friends have continued working to support The Abbey. We thank Bishop Colin. who retired from his role as trustee and Hon. President on 4 October 2020. The trustees are most grateful for Bishop Colin's support during over 20 years in office. The trustees are also pleased to announce that Bishop Gavin Collins has kindly accepted the invitation to become the Honorary President of the Friends and was formally appointed at todarfs meeting. Sadly, Tanya Hawley died on 26 January 2021. Tanya made an Important contribution to The Friends in her role as a trustee. The trustees also thank Richard Dicvs office for their secretarial support.: Indeed, we thank all the trustees and offir$ for their valuable work over the year. Subscriptions reiVed in the year were £2.520 to the Friends and £7,400 to The Beauforest Society. Generous donations of £9,800 and a legacy of £20.000 were received during the year. On the outgoing side, various payments have been made to the PCC during the year. Total payments were made to support the Abbey through the Covid-19 with a particular emphasis on capital and maintenance matters. £2.850 was paid towards Chancel roof repairs and £1,528 to enhance the Abws CCTV. A contribution of £2.898 has been made towards the upkeep of the gardens including the herb garden. As previously reported. the PCC are progressing a long term proposal for work on a West End Gallery In the Abbey. The trustees have agreed that, if the project becomes feasible with all the relevant consents. a contribution of £IOO.000 will be made available towards the building costs. Any alterations to the Guest House are regarded as a separate future projert and there are no current proposals being considered by the trustees. Page 2
The Friends of Dorchester Abbey Trusteeg Report for the year ended 31" March 2021 (continued) Achievements and Performance (continued) There was a net increase in the value of our investments over the year of £14,682. Our reserves at the year*nd were made up of a Designated Emergency Fabric Fund holding £50,000. and the Edith Stedman Endowment Fund holdlng £5.009. The remaining funds of £273,205 are in an Unrestricted General Fund. Due to Covid-19. neither the annual outin& the Dorchester lecture nor the Beauforest service were able to tske place. Reserves Policy The trustees have previously agreed to hold £50.000 as a Designated Emergency Fabric Fund. The remaining funds are as detailed above. Going Concern and Covid 19 The charity benefrts from a regular income from its investments which covers its expenditure. The trustees accordingly believe that the charity is a going concern for at least twelve months from the date of approving these accounts and for the foreseeable future. The trustees have considered the possible effert of Covid-19 and consider that this pandemic will neither result in any material reduction of income nor have any adverse effect on the charity as a going concern and in carrying out its charitsble activities. Risk Management Since the role of the tharity is to raise funds for the restoration and repair of Dorchester Abbey, the main risk is of substantial decline in the level of donations and income from investments. The trustees aim to maintsin a level of income consistent with the anticipated needs of the Abbey. Public Benefit In exercising their powers, the trustees continue to have due regard to Charity Commission guidance on public benefit published under sertion 17 of the Charities Act 2011. The trustees consider that, in helping to conserve the fabric of Dorchester Abbey, as laid out in paragraph one of Objertives and Activities. the Friends artivities support the Abbevs ministry and therefore provide public benefrt accessible to all. Independent Examiner Malcolm Lucas became a churchwarden and ex-officlo trustee on 21" March 2021 and has therefore retired as Independent Examlner. The trustees have appointed Robert Oakes of David Mitchell Accountancy Ltd. as the new Independent Examiner. Page 3
The Friends of Dorchester Abbey Trusteeg Report forthe year ended 31° March 2021 (continued) Plans for Future Periods The trustees intend to continue their present poliaes and prartiS in the periods ahead. Responsibilities of the Trustees The charlS trustees are responsible for preparing the trustees. Annual Report and the financial statements in accordance with the applicable law and regulations. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under the law the trustees have elected to prepare the financial statements in accordance with Finanaal Reporting Standard 102 Yhe Financial Reporting Standard appllcable in the UK and Republic of Ireland, (FRS 102) and the Charities SORP 2015 (SORP 2015). The trustees must not approve the financial statements unless they are satisfied that they are a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that 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 of the Charities SORP 2015: make judgements and accounting estimates that are reasonable and prudent: state whether applicable accounting stsndards have been followed, subject to any materlal departures disclosed and explalned in the financial statements: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the thariWs transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the finanaal ststements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detertion of fraud and other irregularitie& Approved and authorised for issue by the board of trustees and signed on its behalf by: Rithard Dick Chalrman 19th May 2021 Page 4
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The Friends of Dorchester Abbey Notes to the accounts for the year to 31° March 2021 l. Accounting policies Basis of preparation of financial statements The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP (FRS 102) published on 16 Juty 2014. The financial statements have been prepared under the historical cost convention with items recognised at cost or transartion value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordan with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Finanaal Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011. The Friends of Dorchester Abbey constitutes a public benefft entity as defined by FRS 102. Fund Accounting Unrestrirted funds are available for use at the discretion of the trustees in furtheran of the general objectives of the charity. Designated funds are unrestricted funds earniarked by the Trustees for particular purpose& Restrirted funds are subject to restrirtions on their expenditure specified by the donor through the terms of a fund raising initiative. Endowment funds are fvnds given for pernianent capital and are not to be spent for the purpose of the charity. Going concern The emergence and spread of Covid 19 in 2020 and the associated government actions have impacted indNiduals, businesses and charities in many ways. To the best of their ability the trustees have assessed the possible operational and financial effect of this pandemic on the charity. They consider that the likely impart on income will be minimal and. therefore. it is their opinion that the going cOnrn basis for the preparation of the accounts continues to be appropriate. Income All income is recognised in the statement of financial activities (SOFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific poficies are applied to specific categories of income: a) Voluntary income received by way of grants. donations gifts and subscriptions is included in full in The Statement of Financial Actlvities when receivable. b) Any investment income is included when reived. c) Any reSoUrS from tax claims are Induded in the SOFA at the same time as the gifts to which they relate. d) The value of any volunteer help Is not induded In the accounts. Page 7
The Friends of Dorchester Abbey Notes to the accounts for the year to 31" March 2021 (continued) Legacy Income Legades are Induded in The Statement of Financial Activlties when receipt is probable. that when there has been grant of probate. the execut have establlshed that these are sufficient assets in the estste and any condltions attached to the legacy are either within the control of the dwity or have been met. Expendlture Expenditure is recwised On there is a legal or construth obligation to transfer economk benefft to a third party, it is probable that a transfer of econ(Mnic beneffts will be required in settlement and the amount of the obligation can be measured rellably. Expenditiwe is dassified by activity. Expenthtwe indudes any VAT which cannot be fully recovered and is reported as part of the expenditure to whith it reLite& Costs of generating funds comprise the costs of attracbng voluntsry income. Charitable expenditure comprises grants made to Dorchester Ably PCC in furtheran of the thar15 objertives. Governance costs indude those costs associated with the meeting of the constltutional and statut(xy requirements of the charity and costs linked to the strategk management of the tharity. Flxed asset investments Fixed asset investments are carrled at market value at the balance sheet date. Revaluat1 gains orlosses are recognised in The SL*ement of financial Activitie& 2. Income from grarts and donations Grants and d0natkX relate to the general donations given to siipwt the work of the Frlends and Indude a legacy in the year of £20.000 (2020: £nil). 3. Subscrlptions The sums flurtuate each year and are treated on a "receive basi& In the current year the total of £9,920 compromising: Beauforest Soclety £7.400 (2020: £9.250) Friends £2.520 {2020: £W) 4. Events and sales of good This sum comprises receipts frn sales of books and John Piper and The Church catalogue& None of the usual events suth as the annual outing and the Dorchester lerture were able to take place. 5. Charitable activities £34,940 (2020: £9,433) was spent Im improvanents and Maintenan of the AbbeS faalities and gardens and includes £414 {2020: £429) spent on governance. These are referred to In the Trusteeg Report on page 3. 6. Trusteeg remuneration No remuneration or expenses paid to the tntstees during the year (2020: £nil) Page 8
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The Friends of Dorchester Abbey Independent Examinerfs Report to the trustees of The Friends of Dorchester Abbey ("the charity,) I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021. This report is made solety to the charity's trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the charity and the charitrfs trustees as a Ix)dy. for my work or for this reporL Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Art 2011 ('the 2011 Art.). I report in respect of my examination of the charitvs accounts carried out under section 145 of the 2011 Art and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 ACL Independent examiner's statement I have completed my examination. I can confirni that no 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 tharity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or the accounts do not compty with the applicable requirements concerning the forni 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 connertion 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. Signed: Robert Oake5 19" May 2021 Robert Oakes David Mitchell Accountancy Ltd 4 The Pound Cholsey Wallingford OXIO 9NS Page 10