**Charity registration number 519110 (England and Wales)**
## **FRIENDS OF DURHAM CATHEDRAL**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **FRIENDS OF DURHAM CATHEDRAL**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Canon Dr E D Hunt||
|---|---|---|
||Mrs J Dean||
||A P French||
||G Barber||
||Mrs C Peacock Chairman||
||Mrs C Lightfoot||
||MJD Lightfoot||
||M Pounder|(Appointed 7 June 2025)|
||Mrs H Bradshaw|(Appointed 7 June 2025)|
||M Spencer|(Appointed 7 June 2025)|
||GG Sampson||
||M Sunter|(Appointed 7 June 2025)|
|**Charity registration**|England and Wales|519110|
|**Principal address**|Friends' Office||
||The College||
||Durham||
||DH1 3EH||
|**Independent examiner**|RMT Accountants & Business Advisors Ltd||
||Finchale House||
||Belmont Business Park||
||Durham||
||DH1 1TW||
## **FRIENDS OF DURHAM CATHEDRAL**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 16|
## **FRIENDS OF DURHAM CATHEDRAL**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
Friends of Durham Cathedral was founded in 1933. It was registered as a Charity, number 519110, on 24 July 1987. Its Governing Constitution, adopted by members at the Annual General Meeting held on 6 June 1987, was revised at the Annual General Meeting held on 1 June 1991, with a further minor revision that was approved at the Annual General Meeting held on 1 June 2019. The objects of the charity currently are:
- to promote for the benefit of the public the preservation, repair and maintenance of the fabric, curtilage and the precincts of Durham Cathedral and its library, together with any other property thereof, as buildings of architectural and historical interest, and the provision of support for its worship and music and in purchasing, acquiring, restoring or otherwise providing such furniture, fittings and structures and chattels for the interior, exterior and in the curtilage and precinct as may be desirable to continue the cathedral's work in relation to its worship, music, history and education.
As the 1991 revision of the Constitution envisaged, the greatest part of the incoming resources of the charity is generated by membership subscriptions, donations, bequests and grants from other charitable organisations. Other income results from concerts and other social occasions, and from the sale of goods.
In view of the objects of the charity its Trustees work closely with the Chapter of Durham Cathedral, and the grants proposed to an Annual General Meeting are for projects which feature in Chapter's strategic plans and which have been commended to the Trustees.
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
From time to time we enjoy the support of generous legacies and 2025 has benefited from a significant upturn in such receipts. Contributions from other sources remain broadly at similar levels to previous years and continue to demonstrate thriving Friends activity.
## **Financial review**
At present, our reserves are well positioned to more than fully cover commitment to approved grants and enable future support to the Cathedral.
## _Reserves policy_
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
- 1 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## _Major risks_
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
It is the opinion of the trustees that for the financial year ended 31 December 2022 the charity has achieved objectives.
## **Plans for future periods**
We are continuing to liaise with the Cathedral Development team to generate an increased public awareness for the Cathedral and possible involvement which we are hoping will increase our membership and we are already seeing signs of progress. Events and excursions are held throughout the year which prove very popular with members and new ideas for these functions are continually being sought.
Our grateful thanks must, once again, be given to the unstinting support received by our many volunteers without whom, we would not have the undoubted success these events have had.
## **Structure, governance and management**
Under the revision of its Constitution in June 1991 and reconfirmed at the revision in June 2019 it was determined that Friends of Durham Cathedral should be administered and managed by an Executive Council, and that the Council should consist of:
- A Chairman, Honorary Secretary, and Honorary Treasurer, each elected at the Annual General meeting for a term of three years and eligible for re-election;
- A maximum of nine members, each elected at the Annual General Meeting for a maximum of three years and eligible for re-election for one further term, after which he/ (she) must stand down for at least one year; - A Representative of Chapter, appointed by Chapter;
- The Chapter Clerk;
- A maximum of three co-opted members each appointed at the discretion of the Committee for a maximum of three years.
It was also agreed that to further its objectives the Council should establish such sub-committees as were felt necessary. Currently there is a Fund Raising Committee and a Programme and Public Relations Committee.
This structure serves to ensure the continued vitality of the charity, for the members of its sub-committees are drawn from those attending events and social occasions as well as from members of its Executive Council, and are the usual recruiting ground when vacancies occur on the executive Council. Thus those recruited as Trustees already have some experience of the objects and activities of the charity.
The trustees who served during the year and up to the date of signature of the financial statements were: Canon Dr E D Hunt
Mrs J Dean G F Summerbell (Deceased 2 March 2025) A P French G Barber Mrs M Potter (Resigned 7 June 2025) Mrs C Peacock Chairman Mrs C Lightfoot MJD Lightfoot M Pounder (Appointed 7 June 2025) Mrs H Bradshaw (Appointed 7 June 2025) M Spencer (Appointed 7 June 2025) GG Sampson Revd Cannon M Everitt (Resigned 4 July 2025) M Sunter (Appointed 7 June 2025)
- 2 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
_Recruitment and appointment of trustees_
The trustees' report was approved by the Board of Trustees.
Mrs C Peacock Chairman
## **Trustee**
6 June 2026
- 3 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF FRIENDS OF DURHAM CATHEDRAL**
I report to the trustees on my examination of the financial statements of Friends of Durham Cathedral (the charity) for the year ended 31 December 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 financial statements to be reached.
**RMT Accountants & Business Advisors Ltd David Holloway FCA DChA Finchale House Belmont Business Park Durham DH1 1TW**
Date: ............................
- 4 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Unrestricted Endowment**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
247,852
-
Other trading activities
**4**
15,130
-
Investments
**5**
19,844
-
**Total income**
282,826
-
**Expenditure on:**
Raising funds
**6**
3,440
-
Charitable activities
**7**
161,338
-
**Total expenditure**
164,778
-
Net gains/(losses) on
investments
39,839
(4,718)
**Net income/(expenditure) and**
**movement in funds**
157,887
(4,718)
**Reconciliation of funds:**
Fund balances at 1 January
2025
713,356
106,429
**Fund balances at 31**
**December 2025**
871,243
101,711|**Total**
**Unrestricted Endowment**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
247,852
75,490
-
15,130
24,973
-
19,844
27,701
-
282,826
128,164
-
3,440
22,682
-
161,338
156,684
-
164,778
179,366
-
35,121
13,387
12,397
153,169
(37,815)
12,397
819,785
751,171
94,032
972,954
713,356
106,429|**Total**
**2024**
**£**
75,490
24,973
27,701
128,164
22,682
156,684
179,366
25,784
(25,418)
845,203
819,785|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**13**
Investments
**14**
**Current assets**
Stocks
**15**
Debtors
**16**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**17**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Endowment funds
**18**
Unrestricted funds
**19**|**2025**
**£**
921
34,512
635,052
670,485
(2,321)|**£**
1,250
303,540
304,790
668,164
972,954
101,711
871,243
972,954|**2024**
**£**
1,007
27,251
531,799
560,057
(9,942)|**£**
1,250
268,420|
|---|---|---|---|---|
|||||269,670
550,115|
|||||819,785|
|||||106,429
713,356|
|||||819,785|
The financial statements were approved by the trustees on 6 June 2026
Mrs C Peacock Chairman **Trustee**
- 6 -
**FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1 Accounting policies**
## **Charity information**
Friends of Durham Cathedral was founded in 1933. It was registered as a Charity on 24 July 1987. Its Governing Constitution, adopted by members at the Annual General Meeting held on 6 June 1987, was revised at the Annual General Meeting held on 1 June 1991, with a further minor revision that was approved at the Annual General Meeting held on 1 June 2019. Its registered office can be viewed within legal and administrative information.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102 (effective 1 January 2019).
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1 Accounting policies**
## **(Continued)**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised and refer to the trustees' annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure the period of receipt.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 15% reducing balance Computers 3 years on cost Heritage assets Not depreciated
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
- 8 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1 Accounting policies**
## **(Continued)**
## **1.9 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
- 9 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Donations and gifts|10,860|18,756|
|Legacies|204,441|19,445|
|Grants|4,500|4,500|
|Membership fees|27,201|32,014|
|Donated goods and services|850|775|
||247,852|75,490|
|**Donations and gifts**|||
|Donations|-|7,174|
|Tax recoverable|-|11,582|
|Other|10,860|-|
||10,860|18,756|
|**Grants**|||
|The Sir John Priestman Charity Trust|4,500|4,500|
||4,500|4,500|
- 10 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **4 Income from other trading activities**
|||**Unrestricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Fundraising events|8,726|20,792|
||Trading income|6,404|4,181|
||Other trading activities|15,130|24,973|
|**5**|**Income from investments**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Investment income|19,844|27,701|
|**6**|**Expenditure on raising funds**|||
|||**Unrestricted**|**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Fundraising and publicity**|||
||Staging fundraising events|2,764|21,492|
||**Trading costs**|||
||Purchases|676|1,190|
||Total costs|3,440|22,682|
- 11 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **7 Expenditure on charitable activities**
|||**Grants to**|**Grants to**|
|---|---|---|---|
|||**Durham**|**Durham**|
|||**Cathedral**|**Cathedral**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Website costs|502|1,200|
||Postage and stationery|5,719|9,421|
||Donations|-|100|
||Contribution to salary|12,092|31,694|
|||18,313|42,415|
||Grant funding of activities|135,370|108,045|
||**Share of support and governance costs (see note 8)**|||
||Support|7,655|6,224|
|||161,338|156,684|
||**Analysis by fund**|||
||Unrestricted funds|161,338|156,684|
|**8**|**Support costs allocated to activities**|||
|||**2025**|**2024**|
|||**£**|**£**|
||Insurance|354|341|
||Bank charges|344|951|
||Software licences|4,547|3,227|
||Governance costs|2,410|1,705|
|||7,655|6,224|
||**Analysed between:**|||
||Grants to Durham Cathedral|7,655|6,224|
|||**2025**|**2024**|
||**Governance costs comprise:**|**£**|**£**|
||Independent examination fees|1,870|1,705|
||Legal and professional|540|-|
|||2,410|1,705|
- 12 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
|**9**|**Net movement in funds**|**2025**|**2024**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial|||
||statements|1,870|1,705|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any expenses, remuneration or benefits from the charity during the year.
## **11 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
## **12 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **13 Tangible fixed assets**
|**Plant and**
**equipment**
**Computers**
**Heritage**
**assets**
**£**
**£**
**£**
**Cost**
At 1 January 2025
18,339
945
1,250
At 31 December 2025
18,339
945
1,250
**Depreciation and impairment**
At 1 January 2025
18,339
945
-
At 31 December 2025
18,339
945
-
**Carrying amount**
At 31 December 2025
-
-
1,250
At 31 December 2024
-
-
1,250|**Total**
**£**
20,534|
|---|---|
||20,534|
||19,284|
||19,284|
||1,250|
||1,250|
- 13 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
|**14**
**Fixed asset investments**
**Cost or valuation**
At 1 January 2025
Valuation changes
At 31 December 2025
**Carrying amount**
At 31 December 2025
At 31 December 2024
**15**
**Stocks**
Finished goods and goods for resale
**16**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**17**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**Listed**
**investments**
**£**
268,420
35,120
303,540
303,540
268,420
**2025**
**2024**
**£**
**£**
921
1,007
**2025**
**2024**
**£**
**£**
34,512
27,251
**2025**
**2024**
**£**
**£**
1,301
9,012
1,020
930
2,321
9,942|
|---|---|
- 14 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **18 Endowment funds**
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds 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 assets form part of the fund.
|**At 1**
**Permanent endowments**
The Late Major Lisle Pattison and the Late Mrs Dorothy
Pattison
The Late Mrs Phyllis Mary Richardson
**Previous year:**
**At 1**
**Permanent endowments**
The Late Major Lisle Pattison and the Late Mrs Dorothy
Pattison
The Late Mrs Phyllis Mary Richardson|**January**
**2025**
**Gains and**
**losses**
**At 31**
**December**
**2025**
**£**
**£**
**£**
14,370
2,490
16,860
92,059
(7,208)
84,851
106,429
(4,718)
101,711
**January**
**2024**
**Gains and**
**losses**
**At 31**
**December**
**2024**
**£**
**£**
**£**
80,028
12,031
92,059
14,004
366
14,370
94,032
12,397
106,429|
|---|---|
## **19 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At 1**
General funds
**Previous year:**
**At 1**
General funds|**January**
**2025**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31**
**December**
**2025**
**£**
**£**
**£**
**£**
**£**
713,356
282,826
(164,778)
39,839
871,243
**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
**£**
751,171
128,164
(179,366)
13,387
713,356|
|---|---|
- 15 -
## **FRIENDS OF DURHAM CATHEDRAL**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025**
## **20 Analysis of net assets between funds**
|**Unrestricted**
**Endowment**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**At 31 December 2025:**
Tangible assets
1,250
-
Investments
201,829
101,711
Current assets/(liabilities)
668,164
-
871,243
101,711
**Unrestricted**
**Endowment**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 December 2024:**
Tangible assets
1,250
-
Investments
161,991
106,429
Current assets/(liabilities)
550,115
-
713,356
106,429|**Total**
**2025**
**£**
1,250
303,540
668,164|
|---|---|
||972,954|
||**Total**
**2024**
**£**
1,250
268,420
550,115|
||819,785|
## **21 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
- 16 -