Report%20and%20accounts%202018

The Friends of Arundel Cathedral Report and Accounts for year ended

30 June 2018 2016 The Friends Friends of of Arundel Arundel Cathedral Cathedral is is registered registered as as aa company company limited limited by by guarantee guarantee and and not not having having aa share share capital capital The (No 3792834) 3792834) and and is is aa Registered Registered Charity Charity (No (No 1078149).

1078149).

(No

Photograph front cover: Cathedral Vespers Service Summer 2018 Š Margaret Bamford Photograph back cover: Summer Celebration 2018 Š Margaret Bamford

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THE FRIENDS OF ARUNDEL CATHEDRAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2018 (vi) Cash at bank and in hand – Cash at bank and in hand includes bank accounts and cash.

(vii) Creditors and provisions – Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

(ix) Investment gains and losses – All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later).

(x) Investments – Investments are a form of basic financial instrument. They are initially recognised at their transaction value and subsequently valued at their fair value 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.

(xi) Estimation uncertainty – In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

(xii) Financial instruments – The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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