Download Summary Accounts - Friends of Salisbury Cathedral

THE FRIENDS OF SALISBURY CATHEDRAL
SUMMARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2016
INCOMING AND ENDOWMENTS FROM:
Subscriptions
Share of Cathedral Shop profit
Donations
Activities for generating funds
Legacies
Investment income
Total
EXPENDITURE ON:
Raising funds
Grants to Salisbury Cathedral
Little Paradise redevelopment
Magna Carta projects
Flower arrangements
Re-ordering of St Michael's Chapel
Spire Magazine and Newsletters
Re-location of office to 33A The Close
Support costs
Net income / (expenditure)
2016
2015
45,459
15,000
27,409
38,277
47,148
15,400
45,169
15,000
9,803
23,639
64,602
13,521
188,693
171,734
28,466
21,723
74,000
(1,782)
74,000
24,000
6,000
-
72,218
104,000
9,847
9,120
8,700
-
41,317
35,852
160,548
170,695
28,145
1,039
THE FRIENDS OF SALISBURY CATHEDRAL
SUMMARY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2016
2016
2015
FIXED ASSETS
Tangible assets
Investments (at market value)
6,350
428,282
684
418,066
434,632
418,750
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
2,362
66,367
46,531
819
34,700
136,484
115,260
172,003
4,515
45,345
CREDITORS: Amounts falling due
within one year
NET CURRENT ASSETS
110,750
126,658
TOTAL ASSETS LESS CURRENT LIABILITIES
545,377
545,408
24,976
24,725
£520,401
£520,683
5,000
515,401
520,683
£520,401
£520,683
CREDITORS: Amounts falling due
after more than one year
OTHER RECOGNISED GAINS AND LOSSES
Gains and losses on investments
(28,427)
17,874
(282)
18,913
TOTAL FUNDS BROUGHT FORWARD
520,683
501,770
TOTAL FUNDS CARRIED FORWARD
520,401
£520,683
Net movement in funds
RECONCILIATION OF FUNDS
NET ASSETS
Representing:
Restricted Funds
General Fund
AUDITORS’ STATEMENT TO THE MEMBERS OF THE ASSOCIATION OF
THE FRIENDS OF SALISBURY CATHEDRAL
Respective Responsibilities of Members of the Executive Council and Auditors
We have examined the summarised accounts , consisting of the summarised Statement of Financial Activities
and Balance Sheet, which are the responsibility of the members of the Executive Council. Our responsibility is
to report to you our opinion on the consistency of the summarised accounts within Spire with the full annual
Accounts and Trustees Report. We also read the financial information within 'Spire' and consider the
implications for our report if we become aware of any apparent misstatements or material inconsistencies with
the summarised accounts.
Basis of Opinion
We conducted our work with reference to Bulletin 2008/3 issued by the Auditing Practices Board. Our report
on the Association's full annual financial statements describes the basis of our audit opinion on those financial
statements.
Opinion
In our opinion the summarised accounts are consistent with the full annual Report and Accounts of the Friends
of Salisbury Cathedral for the year ended 31 March 2016.
FLETCHER & PARTNERS
Chartered Accountants and Statutory Auditors
Salisbury, 27 May 2015
54
NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
(a)
Life Membership Subscriptions: These are taken to income over 12.5 years
(b)
Investments: These are shown at market value and gains or losses on revaluation are included in
the Statement of Financial Activities.
(c)
Grants payable: These are accounted for when a legal or constructive obligation to pay the
grants has come into existence.
2. RESTRICTED FUNDS
These consist of donations received and funds raised for specific purposes. A legacy given specifically for
the Cathedral's music was received in the year.
55
THE FRIENDS OF SALISBURY CATHEDRAL
SUMMARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2016
INCOMING AND ENDOWMENTS FROM:
Subscriptions
Share of Cathedral Shop profit
Donations
Activities for generating funds
Legacies
Investment income
Total
EXPENDITURE ON:
Raising funds
Grants to Salisbury Cathedral
Little Paradise redevelopment
Magna Carta projects
Flower arrangements
Re-ordering of St Michael's Chapel
Spire Magazine and Newsletters
Re-location of office to 33A The Close
Support costs
Net income / (expenditure)
2016
2015
45,459
15,000
27,409
38,277
47,148
15,400
45,169
15,000
9,803
23,639
64,602
13,521
188,693
171,734
28,466
21,723
74,000
(1,782)
74,000
24,000
6,000
-
72,218
104,000
9,847
9,120
8,700
-
41,317
35,852
160,548
170,695
28,145
1,039
THE FRIENDS OF SALISBURY CATHEDRAL
SUMMARY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2016
2016
2015
FIXED ASSETS
Tangible assets
Investments (at market value)
6,350
428,282
684
418,066
434,632
418,750
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
2,362
66,367
46,531
819
34,700
136,484
115,260
172,003
4,515
45,345
CREDITORS: Amounts falling due
within one year
NET CURRENT ASSETS
110,750
126,658
TOTAL ASSETS LESS CURRENT LIABILITIES
545,377
545,408
24,976
24,725
£520,401
£520,683
5,000
515,401
520,683
£520,401
£520,683
CREDITORS: Amounts falling due
after more than one year
OTHER RECOGNISED GAINS AND LOSSES
Gains and losses on investments
(28,427)
17,874
(282)
18,913
TOTAL FUNDS BROUGHT FORWARD
520,683
501,770
TOTAL FUNDS CARRIED FORWARD
520,401
£520,683
Net movement in funds
RECONCILIATION OF FUNDS
NET ASSETS
Representing:
Restricted Funds
General Fund
AUDITORS’ STATEMENT TO THE MEMBERS OF THE ASSOCIATION OF
THE FRIENDS OF SALISBURY CATHEDRAL
Respective Responsibilities of Members of the Executive Council and Auditors
We have examined the summarised accounts , consisting of the summarised Statement of Financial Activities
and Balance Sheet, which are the responsibility of the members of the Executive Council. Our responsibility is
to report to you our opinion on the consistency of the summarised accounts within Spire with the full annual
Accounts and Trustees Report. We also read the financial information within 'Spire' and consider the
implications for our report if we become aware of any apparent misstatements or material inconsistencies with
the summarised accounts.
Basis of Opinion
We conducted our work with reference to Bulletin 2008/3 issued by the Auditing Practices Board. Our report
on the Association's full annual financial statements describes the basis of our audit opinion on those financial
statements.
Opinion
In our opinion the summarised accounts are consistent with the full annual Report and Accounts of the Friends
of Salisbury Cathedral for the year ended 31 March 2016.
FLETCHER & PARTNERS
Chartered Accountants and Statutory Auditors
Salisbury, 27 May 2015
54
NOTES TO THE ACCOUNTS
1. ACCOUNTING POLICIES
(a)
Life Membership Subscriptions: These are taken to income over 12.5 years
(b)
Investments: These are shown at market value and gains or losses on revaluation are included in
the Statement of Financial Activities.
(c)
Grants payable: These are accounted for when a legal or constructive obligation to pay the
grants has come into existence.
2. RESTRICTED FUNDS
These consist of donations received and funds raised for specific purposes. A legacy given specifically for
the Cathedral's music was received in the year.
55