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2022-08-31-accounts

Page in
report
Legal and administrative details
Report ofthe Trustees 2 3
Report ofthe Independent examiner
Statement of financial activities
Comparative Statement offinancial activities
Balance sheet
Accounting
policies
Notes to the financial statements 9-10

President: Dame Kiri Te Kanawa Kanawa
Life Patron: Dr Richard Seal (Deceased)
Trustees: The Right Honourable
The Countess ofChichester
Michael Wade OBE
Esther Horwood
Robin Creswell
Luke March
Camilla Goldsbrough
The Reverend Canon Anna Macham
Charity Address: c/o The Chapter OQice, 6 The Close, Salisbury, SP12EF
Advisers: Bankers: Lloyds Bank
38Blue Boar Row
Salisbury SP1 1DB
Solicitors: Parker Bullen
45 Castle Street
Salisbury SP13SS
Stockbrokers: JMFinn &Co
4 Coleman
Street
London
EC2R 5TA
Independent Examiner: James Fletcher FCA
Registered Charity Number: 1008158

Notes General Endowment Total Total
Funds Funds 2022 2021
INCOME FROM:
Anniversary
donations &sponsorship		 66,000 66,000
Anniversary
concert income		 23,874 23,874
Anniversary
collection		 462 462
Total anniversary
income		 90,336 90,336
General donations 66,750 66,750 26,030
Cathedral
collections
and fees		 63
Investment
income
UK listed securities
and overseas stocks		 66,005 66,005 56,709
Bank interest 49 49 46
TOTAL INCOME 223,140 223,140 82,848
EXPENDITURE ON:
Anniversary
fundraising
costs		 3,200 3,200
Cost ofgenerating
funds
Bank and broker's fees 13,614 13,614 12,392
Charitable
activities
Choristers'
grants payable		 1 89,748 89,748 92,169
Hardship
grants		 1
Music Commission 2,250
Governance
costs		 3 800 800 720
TOTAL EXPENDITURE 93,748 13,614 107,362 107,531
NET INCOME
/ (EXPENDET'JRE) "CR
TEA YEARBEFOREINVESYlVKNT 129,392 (13,614) 115,778 (24,683)
GAiNS
NET GAINS/(LOSSES) ON (99,892) (99,892) 308,004
IM&s:MENTS
NET ENCOME / EXPENDITURE
FOR THE YEAR 129,392 (113,506) 15,886 283,321
RECONCILIATION
OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD 217,947 2,195,263 2,413,210 2,129,889
TOTAL FUNDS CARRIED FORWARD 7 347,339 2,081,757 2,429,096 2,413,210

TEMENT OF FINANCIAL A
the year ended 31 August 2022		 CTIVI TIES
COMPARATIVE INFORMATION ONLY Notes General Endowment Total
Statement ofFinancial Activities for the Funds Funds 2021
year ended 31August 2021
INCOME AND ENDOWMENTS FROM:
Donations
and legacies
General donations 26,030 26,030
Hardship
donations
Music Commission
Legacies
Cathedral
collections
and fees		 63
Investment
income
UK listed securities
and overseas stocks		 56,709 56,709
Bank interest 46 46
TOTAL INCOME 82 848 82 848
EXPENDITURE ON:
Costs ofgenerating
funds
Bank and broker's fees 12,392 12,392
Fundraising
Costs
Charitable
activities
Choristers'
grants payable		 1 92,169 92,169
Hardship
grants		 1
Music Commission 2,250 2,250
Governance
costs		 3 720 720
TOTAL EXPENDITURE 95,139 12,392 107,531
NET INCOME
/ (EXPENDITURE;		 OP8.
THE YEARBEFOREItt ~"S YMl'IT
GAINS (12 291) (12392) (24683)
NET GAINS/(LOSSES) QY.
INVESTMENTS 308,004 308,004
NET INCOME / EXPENDITURE
FOR THE YEAR (12,291) 295,612 283,321
RECONCILIATION
OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD 230,238 1,899,651 2,129,889
TOTAL FUNDS CARRIED FORWARD 7 217,947 2,195,263 2,413,210

Notes 2022 2021
FIXEDASSETS
Investments 4 2,037,087 2,141,349
CURRENT ASSETS
Bank 345,470 272,301
Debtors 5 47,339 1,000
392,809 273,301
CREDITORS: Amounts falling due
within one year 800 1,440
NET CURRENT ASSETS 392,009 271,861
TOTAL NET ASSETS 2,429,096 2,413,210
ACCUMULATED FUNDS
General funds 7 2,081,757 217,947
Endowment funds 7 347,339 2,195,263
2,429,096 2,413,210
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For the year ended 31August 2022
1 GRANTS PAYABLE 2022 2021
Basic awards 89,748 92,169
Hardship
grant
89,748 92,169
TRUSTEES' REMUNERATION AND STAFF COSTS
No Trustees remuneration, No Trustees remuneration, Trustees expenses or staff costs were paid in the year (2021:anil) Trustees expenses or staff costs were paid in the year (2021:anil)
GOVERNANCE COSTS 2022 2021
Independent
Examiner		 800 720
4 INVESTMENTS 2022 2021
Market value at 1 September 2021 2,141,349 1,791,426
Additions 127,203 351,899
Gifted Shares
Disposals (131,573) (309,980)
Net gains / (losses) in year (99,892) 308,004
Market value at 31August 2022 2,037,087 2,141,349
Historical cost at 31August 2022 1,697,474 1,661,397
Investments
at market value		 comprised:
Fixed interest UK Bonds 107,650 134,225
Equities &Funds
UK 1,362,895 1,415,309
North America 81,844 74,360
Europe 192,186 210,108
Japan 42,675 42,150
Global 34,350 33,200
Alternatives 215,487 231,997
2,037,087 2,141,349

DEBTORS 2022 2021
Income tax recoverable 10,915 1,000
Salisbury
Cathedral		 36424
47,339 1,000
CREDITORS: Amounts falling due within one year 2022 2021
Accruals 800 1,440
800 1,440
NET ASSETS
General Endowment Total
Funds funds 2022
Investments 2,037,087 2,037,087
Current assets 347,339 44,670 392,009
347,339 2,081,757 2,429,096
Endowment
funds comprise		 all gifts and donations received by the charity excluding those received for
fees. These funds are mainly
the girls' grants.		 invested in an investment portfolio which generates the income used to pay
General Endowment Total
COMPARATIVE INFORMATION ONLY Funds Funds 2021
Investments
Current assets 217,947 2,141,349
53,914		 2,141,349
271,861
217,947 2,195,263 2,413,210
FUTURE GRANTS