RICHARD LANE OTHERWISE TOMSON
The establishment and maintenance of choral scholarships at Hereford Cathedral School.
Financial health, per its FY2024 accounts
The accounts state that the charity holds total net assets of £1,777,003, comprising a large endowment fund of £1,775,509 and unrestricted funds of £1,494. The trustees note that the entire annual income is insufficient to meet the full cost of choral scholarships, and there is unlikely to be any further surplus income in the future.
What the accounts disclose
“It is the policy of the trustees to maintain a small unrestricted fund to meet day-to-day costs. This stands at £1,494 on 31 December 2024”
“During the year, £64,800 (2023: £64,000) was paid to the Chapter of Hereford Cathedral (who is the sole trustee of the charity) in respect of part funding choristers’ school fees at Hereford Cathedral School. The charity owed the Chapter of Hereford Cathedral £16,200 (2023: £16,000) at the balance sheet date.” — page 14
Trustees
- THE CHAPTER OF HEREFORD
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £36k | £69k |
| 31/12/2023 | £44k | £68k |
| 31/12/2022 | £40k | £73k |
| 31/12/2021 | £34k | £70k |
| 31/12/2020 | £37k | £66k |
Common questions
Is RICHARD LANE OTHERWISE TOMSON financially healthy?
Per its FY2024 accounts: The accounts state that the charity holds total net assets of £1,777,003, comprising a large endowment fund of £1,775,509 and unrestricted funds of £1,494. The trustees note that the entire annual income is insufficient to meet the full cost of choral scholarships, and there is unlikely to be any further surplus income in the future. Its FY2024 accounts were audited by Hazlewoods LLP.