REGISTERED CHARITY NUMBER: 500272
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2025
for The Association of the Friends of Lincoln Cathedral
Wright Vigar Limited Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG
The Association of the Friends of Lincoln Cathedral
Contents of the Financial Statements for the Year Ended 31 December 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
The Association of the Friends of Lincoln Cathedral
Report of the Trustees for the Year Ended 31 December 2025
The trustees present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity as set out by its governing document are:
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to provide a means of binding together in friendship those who, loving Lincoln Cathedral, wish to bear a part in its life and worship
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to make grants as funds permit to the Dean and Chapter toward the worship, maintenance, preservation, improvement or repair of the fittings, ornaments, furniture and monuments in Lincoln Cathedral and the furthering of schemes to set forward its safety or utility.
Significant activities
In setting our objectives and planning our activities our Trustees have given careful consideration to the Charity Commission's guidance on public benefit.
Details of activities and performance are detailed within the Treasurer's and Honorary Secretary's reports.
Grantmaking
Applications for support are forwarded to the Council by the Cathedral’s Senior Leadership Team, coordinated by the Cathedral’s Fundraising Manager.
Applications are considered by the Council and if approved taken to the Annual General Meeting for ratification. The Annual General Meeting also approves a discretionary allocation for use by the Executive Subcommittee of the Council for smaller grants, without these having to wait until the next Annual General Meeting for approval.
The Council stipulates that detailed applications for grants need to be supported by quotations and invoices as necessary.
FINANCIAL REVIEW
Reserves policy
The Trustees monitor the level of reserves of the Charity in relation to its current and planned activities.
The Trustees consider that the current level of reserves after designation of funds will allow the charity to achieve its objectives.
The Trustees feel that the adequate amount of reserves to carry excluding the designated fund is £40,000 to cover the core operating costs of the Charity.
At the year end there were total unrestricted reserves of £427,846. £152,455 of these funds have been designated to cover the planned future costs to the Organ. Therefore the actual free reserves of the charity are £275,391.
Unrestricted reserves have been allowed to build up so that further significant financial support for restoration and other projects for the cathedral can be agreed when requests are made.
Going concern
The main risk that the charity faces is a deficit of income over expenditure.
Whilst income received from subscriptions and events has increased the need to draw on reserves to cover increases in regular areas of support has become apparent, although the charity has been fortunate to have received income from legacies.
The charity’s achievements, in addition to regular areas of support, have included the remodelling of a stall in St Hugh’s Choir and a cope for the Canon Missioner. After the substantial grant in 2023 towards the heating in St Hugh’s Choir it was considered prudent to consolidate funds in anticipation of any future major requests.
Page 1
The Association of the Friends of Lincoln Cathedral
Report of the Trustees for the Year Ended 31 December 2025
FUTURE PLANS
Future plans of the charity include continuing to respond to further requests from the cathedral as necessary.
The funding for annual areas of support will continue. These include the Friends’ Choral Scholar, the Friends’ Organ Scholar, the Friends’ Chorister and the Cathedral flower fund.
A successful Corporate Membership Scheme has been established and a redesigned website, allowing subscriptions to be accepted online, has led to a considerably higher level of income.
The annual ticketed Carols By Candlelight event is now held on two consecutive evenings, leading to a doubling of the income.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is governed by its constitution, a deed of trust, which was adopted 19 June 1982 as amended 4 July 1998 and 3 July 1999.
Recruitment and appointment of new trustees
Trustees are appointed based on their experience and expertise. The board regularly review their position and approach appropriate candidates as necessary. All new Trustees receive inductions on the objectives, beliefs and systems of the charity and directed to the Charity Commission guidance on their responsibilities.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
500272
Principal address
The Friends' Office Exchequergate House 18a Minster Yard Lincoln Lincolnshire LN2 1PX
Trustees
Ms C Jones (resigned 27.5.25) Mr M R Belcher Mr A P Read Mr B Calvert Mr C P Hoskins (appointed 28.7.25) Mr P H Pinchbeck (appointed 28.7.25) Mr J M Vitoria (appointed 28.7.25) Rev M J Boughton (appointed 28.7.25) Mr P R Strange (appointed 28.7.25)
Independent Examiner
P Colcomb FCCA Wright Vigar Limited Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG
Approved by order of the board of trustees on 23 February 2026 and signed on its behalf by:
Michael R Belcher
Michael R Belcher (Feb 24, 2026 10:29:30 GMT)
Mr M R Belcher - Trustee
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Independent Examiner's Report to the Trustees of The Association of the Friends of Lincoln Cathedral
Independent examiner's report to the trustees of The Association of the Friends of Lincoln Cathedral
I report to the charity trustees on my examination of the accounts of The Association of the Friends of Lincoln Cathedral (the Trust) for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
Paul Colcomb
Paul Colcomb (Feb 24, 2026 12:12:50 GMT)
P Colcomb FCCA The Institute of Chartered Accountants in England and Wales
Wright Vigar Limited Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG
23 February 2026
Page 3
The Association of the Friends of Lincoln Cathedral
Statement of Financial Activities for the Year Ended 31 December 2025
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 48,049 Charitable activities Carols by Candlelight 29,377 Other trading activities 2 816 Investment income 3 16,076 Total 94,318 EXPENDITURE ON Raising funds 190 Charitable activities Carols by Candlelight 1,370 General activities 49,853 Total 51,413 NET INCOME 42,905 RECONCILIATION OF FUNDS Total funds brought forward 384,941 TOTAL FUNDS CARRIED FORWARD 427,846 |
Restricted fund £ - - - - - - - - - - 10,948 10,948 |
2025 Total funds £ 48,049 29,377 816 16,076 94,318 190 1,370 49,853 51,413 42,905 395,889 438,794 |
2024 Total funds £ 46,761 16,952 917 15,635 |
|---|---|---|---|
| 80,265 | |||
| - 5,000 35,080 |
|||
| 40,080 | |||
| 40,185 355,704 |
|||
| 395,889 |
The notes form part of these financial statements
Page 4
The Association of the Friends of Lincoln Cathedral
Balance Sheet 31 December 2025
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 7 383 CURRENT ASSETS Stocks 8 1,365 Cash at bank and in hand 427,598 428,963 CREDITORS Amounts falling due within one year 9 (1,500) NET CURRENT ASSETS 427,463 TOTAL ASSETS LESS CURRENT LIABILITIES 427,846 NET ASSETS 427,846 FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - - 10,948 10,948 - 10,948 10,948 10,948 |
2025 Total funds £ 383 1,365 438,546 439,911 (1,500) 438,411 438,794 438,794 427,846 10,948 438,794 |
2024 Total funds £ 574 1,555 401,999 403,554 (8,239) 395,315 395,889 395,889 384,941 10,948 395,889 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 23 February 2026 and were signed on its behalf by:
Michael R Belcher
Michael R Belcher (Feb 24, 2026 10:29:30 GMT)
Mr M R Belcher - Trustee
The notes form part of these financial statements
Page 5
The Association of the Friends of Lincoln Cathedral
Notes to the Financial Statements for the Year Ended 31 December 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting 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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
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. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Psalters | 816 | 880 |
| Office and sundry sales | - | 37 |
| 816 | 917 |
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continued...
The Association of the Friends of Lincoln Cathedral
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
| 3. INVESTMENT INCOME Interest on CBF 4. GRANTS PAYABLE General activities The total grants paid to institutions during the year was as follows: Flowers Choral Scholar Chorister Organ Scholar Missioner's stall Service award Book Lunch Utility vehicle 5. SUPPORT COSTS Management Finance £ £ General activities 6,903 192 Support costs, included in the above, are as follows: Marketing Printing Post and carriage Office expenses and sundry Room, equipment hire & repairs Bank charges Depreciation of tangible fixed assets Entertainment Accountancy and legal fees |
2025 £ 16,076 2025 £ 38,747 2025 £ 1,999 - 7,340 10,666 3,092 500 363 387 14,400 38,747 Governance Other costs £ £ 135 3,876 2025 General activities £ 1,485 2,348 1,551 517 1,002 - 192 135 3,876 11,106 |
2024 £ 15,635 2024 £ 27,349 2024 £ 2,000 7,333 7,350 10,666 - - - - - 27,349 Totals £ 11,106 2024 Total activities £ - 2,341 820 533 1,048 32 192 - 1,320 6,286 |
|---|---|---|
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continued...
The Association of the Friends of Lincoln Cathedral
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.
7. TANGIBLE FIXED ASSETS
| COST At 1 January 2025 and 31 December 2025 DEPRECIATION At 1 January 2025 Charge for year At 31 December 2025 NET BOOK VALUE At 31 December 2025 At 31 December 2024 8. STOCKS Stocks 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS Unrestricted funds General fund Designated fund - Willis Organ Restricted funds Embroidery fund TOTAL FUNDS |
At 1.1.25 £ 238,654 146,287 384,941 10,948 395,889 |
2025 £ 1,365 2025 £ 1,500 Net movement in funds £ 36,737 6,168 42,905 - 42,905 |
Computer equipment £ 766 192 191 383 383 574 2024 £ 1,555 2024 £ 8,239 At 31.12.25 £ 275,391 152,455 427,846 10,948 438,794 |
|---|---|---|---|
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continued...
The Association of the Friends of Lincoln Cathedral
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated fund - Willis Organ TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated fund - Willis Organ Restricted funds Embroidery fund TOTAL FUNDS |
At 1.1.24 £ 228,264 116,492 344,756 10,948 355,704 |
Incoming resources £ 88,150 6,168 94,318 94,318 Net movement in funds £ 30,390 9,795 40,185 - 40,185 |
Resources Movement expended in funds £ £ (51,413) 36,737 - 6,168 (51,413) 42,905 (51,413) 42,905 Transfers between At funds 31.12.24 £ £ (10,000) 248,654 10,000 136,287 - 384,941 - 10,948 - 395,889 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 70,470 | (40,080) | 30,390 |
| Designated fund - Willis Organ | |||
| 9,795 | - | 9,795 | |
| 80,265 | (40,080) | 40,185 | |
| TOTAL FUNDS | 80,265 | (40,080) | 40,185 |
Organ Repair Fund
This fund is used to cover payments for scheduled repairs to the Organ.
Transfers between Funds
The amount designated is set aside for the Organ repair fund.
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continued...
The Association of the Friends of Lincoln Cathedral
Notes to the Financial Statements - continued for the Year Ended 31 December 2025
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2025.
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The Association of the Friends of
Lincoln Cathedral
Detailed Statement of Financial Activities for the Year Ended 31 December 2025
| for the Year Ended 31 | December 2025 | |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 9,835 | 5,114 |
| Gift aid recovered | - | 7 |
| Legacies | 20,000 | 28,845 |
| Annual memberships | 16,324 | 9,995 |
| Life members | 1,890 | 2,800 |
| 48,049 | 46,761 | |
| Other trading activities | ||
| Psalters | 816 | 880 |
| Office and sundry sales | - | 37 |
| 816 | 917 | |
| Investment income | ||
| Interest on CBF | 16,076 | 15,635 |
| Charitable activities | ||
| Events | 29,377 | 16,952 |
| Total incoming resources | 94,318 | 80,265 |
| EXPENDITURE | ||
| Other trading activities | ||
| Opening stock | 1,555 | 1,555 |
| Closing stock | (1,365) | (1,555) |
| 190 | - | |
| Charitable activities | ||
| Events and sales | 1,370 | 6,445 |
| Grants to institutions | 38,747 | 27,349 |
| 40,117 | 33,794 | |
| Support costs | ||
| Management | ||
| Marketing | 1,485 | - |
| Printing | 2,348 | 2,341 |
| Post and carriage | 1,551 | 820 |
| Office expenses and sundry | 517 | 533 |
| Room, equipment hire & repairs | 1,002 | 1,048 |
| 6,903 | 4,742 | |
| Finance | ||
| Bank charges | - | 32 |
| Computer equipment | 192 | 192 |
| 192 | 224 | |
| Other | ||
| Entertainment | 135 | - |
This page does not form part of the statutory financial statements
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The Association of the Friends of
Lincoln Cathedral
| Other Governance costs Accountancy and legal fees Total resources expended Net income |
Detailed Statement of Financial Activities for the Year Ended 31 December 2025 2025 2024 £ £ 3,876 1,320 51,413 40,080 42,905 40,185 |
Detailed Statement of Financial Activities for the Year Ended 31 December 2025 2025 2024 £ £ 3,876 1,320 51,413 40,080 42,905 40,185 |
|---|---|---|
| 40,080 | ||
| 40,185 |
This page does not form part of the statutory financial statements
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