Mancho8tfrr Calh•dral Developmont Tru•1 Annual Report and Financial Statements Year Ended 31 December 2020
Manchester Cathedral Development Trust Annual report and flnancial st•tom•nts for the yoar ended 31 DeGombor 2020 Contont• Pago Legal and administrative information Tru818es' report 24 Statement of the responsibllltl&s of the Trustee8 Independènt Audilors, reFK>rt to the Trustees Statement of financlal acttvitie8 10 Balance sheet 11 Statement of cash flows 12 Notes to the financial 8taltmanls 13-17
Manchester Cathedral Development Trust Annual report and fin4n¢lal ltaiements for the yoaT •ndod 31 December 2020 L•g414nd admlnlstratlve Informatlon Contact Addross Man¢hesler Cathedral Development Trust Cathedral Street Manchester M3 1SX Telephone 0161433-2220 Legal 81atu• The chadty was formed os a Trust under 8 Trust Deed dated 2 December 1991. It 18 a Registered Charity 110082951. Truste0• Lay Trustee8'. Mr W. Smith JP, Lord Lieutenant for Greater Manchester- Chair Mr P. Deakin Mr J.P. Wainwright MA FRICS Capllular Tru$lees'. The D8an of Manchester The Very Reverend R.M. Govender The Revèrend Canon D.A. Holgat8 The Revèrend Canon M.Z. Wall Audltor• BOO LLP Two Snowhill Birmingham B4 6GA 8ankor• Royal Bank of Scotland plc St Ann Streel Manchester M60 2SS
Manchester Cathedral Development Trust Trusto08' report for the year ondod 31 Decemb•r 2020 The Trustees presenl their annual report and the audited financlal statements for the year ended 31 December 2020. structuffr, gov•rn•n¢e and management The charity was formed as a Trust under a Trust Deed dated 2 December 1991. It is a Registered Charity {10082951. Trustees who served durlng the year were as Ilsled on page 1. There is provision for five Capitular Trustees being 8x-offi¢io trustees consisting of the Dean and four residentiary Canons of Manchester Cathedral together with four Lay Trustees. The Lay Trustees are appointed for a temi of three years but may be reappointed. Trustees are recruited by a variety of methods including recommendations from existing Tiuslees. Each individual who has been recommended is then Intervlewed by the Chairman and other Trustees as appropriate and then elected by the Trustees. New Trustees are provided with an induction pack and are given regular presentations on the business of the chanty al the Trustee meeting8. The Trustees elect a lay chairman from their rsumber, the Vice chair being the Dean of Manchester. Trustee meetings should be h8ld l¢e a year and the quorum for a meeting is five trustees consisting of not less than Ihree Capitular Trustees. A Flnance Committee whlch has b8en established wrth Ils main terms of referènce being to.. Review and monitor the aGcounting proces8es', Oversee preparation of the financial accounts. The Trustees are respon81ble for setting th8 8tr8tegic direction ol th8 charity. Rl8k M*nag•mont The trustees have performed a review of the risks that we balieve could seriously affect the chanty, performance, future prospects, reputation or ils ablllty lo deliver against its prionli85. This development of our risk process has resulted in the inclusion of liquidity as a principal risk. The approval of grants lo the Cathedral, our major cash outhow, is closely mnitored with mgular forecasts of cash requlremenls and regular management acGounts that are reviewed by the Irusl88s. The Trustees have revisited the going concern assessment In September 2021 following on from the outbrèak of Covid-19 in early 2020. Although there has been some impact thi8 has b8en quite minimal and has no material Impact on the financial viability of the charity in the foreseeable future. ObJ•ctIV and acllvltl The Trust Is a registered charSty whose objects are'.- The improvement, enhancem&nt and major refurbishment of Manche8ter Cathedral, Its fabric and grounds and any other land owned by or leased to the Trust, and the provision of new facilitles and equipment of general benefit to Manchester Cathedral and the community served by Manchester Cathedral. The carrying out andlor provision of financial assistance for the carrylng out of new works or new additions to Manchester Cathedral including (but without prejudicing the generality of the foregoing} substantial works of decoration and restoration and renovation work which shall, in the reasonable opinion of the Trustees land after consultalion with the Cathedral Architect for the time b&ingl be considered lo be works which do not constitute part of the nomial and routsne costs of running Manchester Cathedral. The assisting of the Dean and Canons in such other purpose$ and objects which the Dean and Canons wish to carry out and which the trustees consider to be encompassed within Ihe foregoing objects. Thè trustees have had due regard to the Charity commission guidance on public benefit.
Manchester Cathedral Development Trust Trustees, r•port for th• y•ar ended 31 December 2020 Obj•ctiVo8 and actlvltles Icontlnued Governing Do¢umentatlon Restrlctlon In raising income for the Charty the Trustees shall obseNe the following restriction.. They shall not undertake any permanent trading activities in raising funds for the charitsble objects as d8tailed above. Aehiov•m•nt• and p&rfornMnc• Fundral8lng Progre The Truste&s are currently working with the dlreclor of fundraising lo develop the next phase of th8 Development Plan. During 2018 & 2019 a major exercise was undertaken examining use of space in the Cathedral inGluding number of workshops being held with various stakeholders. This project w8$ fvnded by a Re5ilienl Heritage Grant from the National Heritage Lottery Fund and the results will lead to oulline concepts for improvèments lo the Cathedral fabric. Following this there will be a clear direction for fundraising. Phase 2 of the lighting project is also being developed together wilh the refurblshm8nl of the Cathedral Library. Externally, there are a number of memorials being planned a8 part of the development of the public realm, with particular reference to Victoria Street works currently baing carried out by Manchester City Council. FlnancSal R•vl•w Total income for the year amounted to £158,746 compared to £31.662 in 2019. No grants w8re made lo the Cathedral in the year. Net income for the year amounted lo £150,222 {2019 Net Income £24,076). At 31 December 2020 restricted funds amounted to £76,893 and unrestricted funds amounted to £156,158. The Cathedral requests grants from the charity as the work progresses on the various projects. CUrntlY, the next phase of the development project Is being developed logelhor with a fundraising strategy. RM•tV08 Pollcy The Charity has attra¢ted funding for 8peclfic purposes over the years including the new organ, new lighting and new liturgical furniture, The majority of these projects have now been complete(J and the grants have been pald to the Cathedral, A number of new sources of donations are being established particularly for the final phas8 01 the new Ihting, thus reducing the overall financial risk to the Chanty. There is no requirement lo hold free reserves. At 31 December 2020 total reserves amounted to £233,051 12019 £82,829) of whh £76,89312019 £72,893) are restricted. Fundral•lng Section 162a of the Charities Act 2011 requires Charflies lo make a statement regarding fvndraising activities. Although we do not undertake widespread fundTai5ing from the general public, the legislation defines fund raising s 'solicitsng or otherwise procuring money or other property for chanlable purposes. Such amounts receivable are presented in our accounts as 'voluntary income" and includes legacies and grants. In latiOn to Ihe above we confirm that all solicitations a managed internally, wilhoul invofvemenl of ommercial participators or professional fund-raisers, or third parties. The day to day management of all income generation 15 delegated to the exe¢utsve team, who are accountable lo the trustees. The charity is not bound by any undertaking to be bound by any regulatory scheme.
Manchester Cathedral Development Trust Tfuslg08' roport for Iho yoar ended 31 Do¢embor 2020 Fundr•ioing Icontlnuod) We have received no complaints in relats'on to fundraislng activities. Our teThs of employment require staff to have reasonably al all limes,. as we do not approach individuals for funds we do not have to particularise this to fundraising activities nor do we consider it necessary to design specific procédures lo monitor such activities. Audlt infonnatlon All of the current trusteès have iaken all the steps that they ought to have taken to make themselves aware of any information needed by the charity's auditors for the purposes of their audit and to establish that the auditors are aware of that informallon. The trustees are not aware of any relevant audll informatk)n of whlch Ihe auditors are unaware. Approved and signed on behalf of tha Trustaos D.A. Holgate
Manchester Cathedral Development Trust statsment of responsibilitios of the Tru8t•es for the yoar ended 31 Docember 2020 Stalgmont of responsibilitles of the Trustees Th8 Trustees are responsible for preparing the Annual report Trustees, report and the financial stslements in accordance with applKable law and regulations. Chanty law requi5 the Trustees lo prepare financial statements for each financial year in a¢cordance with Unrted 'ngdoM Generally Accepted Accounting Practice {United Kingdom Accounting Standard5 and applicable lawl. Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a IrLte and fair view of the state of affairs of the charity and of the incoming resources and application of resources. including the incom8 and expenditure, of the chanly ft)T that per1J. In preparing these financial statements, the Trustees are requirèd to.. select suitable accountin9 polic and then apply them consistenuy., make judgements and accountSng estimates that ara reasonable and prud8nl', stale whether applicable UK Accounting Standards have been ft)Ilowed, subject to any material departures disclosed and explained in the financial slatement5', prepare the financial statements on the going concern ba8is unless It is inapproprlate to presume that the charity will continue in business. The Trustees are sponSible lor keeplng adequate accountlng records that are sufficient to show and explain the charity's transactions and disclose with reasonable a¢curacy al any lime the financial position of the Qharily and enable them lo ensure that th& financial statements comply with the Charities Act 2011. They ar@ also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularrties.
Manchester Cathedral Development Trust Roport of Iho indopondonl audltord Year ended 31 Do¢•mber 2020 INDEPENDENT AUDITOR'S REPORT TO TRUSTEES OF MANCHESTER CATHEDRAL DEVELOPMENT TRUST Oplnlon on Ihe flnanclal 8tatements In our opinion, the financial statem8nts'. give a true and fair view of the stale of the Charity's affairs as at 3151 December 2020 and of its ineoming resources and application of resources for the year th8n ended., have been properly prepared In accordance with United Kingdom Generally Acc8pled Accounting Practice,. and have been prepared In accordance with the requirements ol the charit$ Act 2011. We have audited the financlal slalements of Manchester Cathedral Development Trust I'the Charity") for the year ended 3111 December 2020 which ¢omprise the statement of financial aclivitles, the balance sheet, the cash flow statement and notes to the financial statements, including a summary of signiftcanl accounting pollcies. Thè financial reporting fram&work that has bèen applied in their preparation is applicable law and United Kingdom Accounting Standards, includlng Financial Rèporting Standard 102 The Financial Reporting Stand8rd applicable in th8 UK and R8publK of Ireland (United Klngdom Generally Accepted Accounting Practice). Ba81• for oplnlon We conducted our audit in accordance with Internatlonal Standards on Audlling IUKI IISA8 IUK)18nd applicable law. Our responsibilities under those standards are further described in Ihe Auditor's responsibilrties for the audit of the financial statement8 section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide 8 basis for our oplnlon. Indopond•nce We remain independent of the Charity in accordance with the ethical requirements relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we hav& fulfilled our other ethical sponslblllties in accordance with these requlremènts. Con¢lu81on8 related to golng concfrm In auditing the financial statements, we h8ve concluded that the Trustees. use of the golng concern basis of accounling in the preparation of the financial statements 15 appropriate. Based on the work we hav6 performed. we have not identified any material uncertaintie5 relatlng to events or conditions that. individually or collecllvely, may cast significant doubt on the Charity's ability lo continue as going concem for a period of at least 1ve months from when the financial ststemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Manchester Cathedral Development Trust Report of Ihfr indfrpondent auditors Year endod 31 December 2020 INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF MANCHESTER CATHEDRAL DEVELOPMENT TRUST (CONTINUED) other Informatlon The Trustees a responsible for th8 other information. The oth8r infomation comprises the information included in the Tru5tee$ Report, other than the fin8nclal statements and our auditor's report thereon. The other informats.on comprises.. tha Trustees Report. Our opInn on the financial statements does not cover the olhef information and, èxcept lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ih8reon. Our responsibility is lo read the other informallon and, in doing so, consider whether the oth8r information is m8terialty inconsistent with the financial statements or our knowledge obtsined in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi88talements, we are required to delermlne whether there is a material mlsstalement in the financial statements or a material misstslement of th8 other information. If, based on the work we have perfomed. we conclude that there is a material misstatement of this other informatlon, we are required lo report that fact. We have nolhSng to report in th18 regard. Matt•rn on whlch wo •r• roqulrod lo report by exeeptlon We have nothing to report In rèspe of the following matters In relation to which the Charrties Act 2011 requi us lo report lo you if, in our oplnlon., the informatlon ¢ontaln8d In the flnancial statements Is inconsistent In any material respect with the Trustees, Annual Report., or adequate accounting records have not been kept., or the financlal Slatemenls are not in agreemenl with the accounting records and returns,. or we have not received all the infomiallon and explanations we require for our audit. Rfr•pon8lbllltle• ol Tru•t• As explained more fully in the Trustees, responsibilities statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they gwe a true and fair view, and for such internal control as the Trustees determlne$ is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsibb for assesslng the Charlty's ability lo continue as a going conc8m, disclosing, as applicable, matters rolaled to going concern and using the going concem basis of accounting unless the Tru8tees either intend lo IKiuidate the Charity or to ceas8 operations, or have no realistic allemative bul to do so.
Manchester Cathedral Development Trust Ro1)ort of tho Independent auditors Yoar ended 31 December 2020 INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF MANCHESTER CATHEDRAL DEVELOPMENT TRUST ICONTINUEDI Audltor's re8ponsibiliti88 for th• audlt of the finanelil 8t•tom•nts We have been appolnled as auditor under sectson 144 of the Charities Act 2011 and report In accordance with the Acllsl and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a hlgh level of assurance, bul Is not a guarantee that an audit conducted in accordance with ISAS {UKI will aayS detect a material misslatemenl when It exists, Mi$slatem8nls can arise from fraud or error and are ccnsidered material if, individually or in the aggregate, they coukl reasonably be expected to influence the economic deci51ons of users taken on the basls of these financial $latements. Extent to whkh the audit was capable of detecting irregulariti&s, including fraud Irregularitle$, including fraud, are instances of non-compliance wllh law5 and regulations. We design procedures in line with our responsibilities, outlined above. lo delecl material mlsslatemenls in respect of irregularities, in¢luding fraud. The extent lo which our procedures are capable of delecting IrregularilK88, Sncluding fraud Is delailed below.. We made enquiries of management. This included the following.. how thay have Idenlified. evalu81ed and complied with kgws and regulatlons and whether they wer8 aware of any instances of non-compliance., their process for detecling and respondin9 to the rlsks of fraud and whether they have knowledge of any actual, Suspected or alleged fraud., and which internal controls have been established lo mlligale risks related to fraud or non-compliance with laws and regulations. We obtained an understsnding of the legal and regulatory frameworks that are applicable to the Charfty. These include, but are not limited to the Charitles SORP and UK GAAP. In addition. the Charity is subject to many other laws and regulations where the consequences of non<ompliance could have a material effect on amounts or disc105ures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect.. data protection. Auditin9 Standards limit the required audit procedures to identify non-compliance with these laws and regulation5 to enquiry of the Those Charged with Govemance and other management and in5pectn of regulatory and legal correspondence if any. Wa considered management's incentives and opportunilles for fraudulent manipulation of the ffnancial statements linGluding revenue recognition and the risk of override of controls), and determined that the principal risks were related to posts'ng inappropriate joumal entries lo manipulate financial resulls and management bias in accounts'ng estimates.
Manchester Cathedral Development Trust Report of the Indopondent auditorn Yeargndod 31 December 2020 INDEPENDENT AUDITORS REPORT TO THE TRUSTEES OF MANCHESTER CATHEDRAL DEVELOPMENT TRUST ICONTINUED Audit response to risks identified We reviewèd the financi81 statement dlsclosures and sample tested to supporting documentation lo assess compliance with relevant laws and wulations discussed above.. We mad8 enquiries of management., We reviewed minutes of meetings of those charged with governance.. We reviewed any ser8 Incident Reports Submitted., In addressing the risk of fraud thTOU9h management ov8rride of controls, we tested the appropnatene88 of journal entrles and other adjustm8nts', assessed whether the judgements made in making accounting estimates are indicative of a potentsal bias.. considered completeness of related party Iransa¢lions'. and evaluated the business rationale of any significant transactions that are unusual or outside the normal cour8e of buslness, Our audit pr¢xédufe8 w•re designed to respond to risks of malerlal mis8latemenl in the financial stsleménts, recognising that the nsk of not detecting a material misststemenl due lo fraud Is higher than the fisk of not delecling one resultlng from 8rror, as fraud may involve deliberate concealment by, for example, forgery. mi5representation$ or through colluslon. There are inherent limitations in the audit procedures perlormed and the further removed non-compllanGe with laws and regulations is from th• events and transactions rellecled in the financial statements, the less Ilkely we are to become aware of it. A further description of our responsibili118s for the audit of the financial statements 18 located at the Financial Reporting Council's l FRC's'l website al., .'Ilww.Irc.o dilorsres onsibill 8. Thls de8cription forms part of our audltols report. U•• of our report This report 18 made solely to th8 Charity's trustees, as a body, in accordance with the Charities Act 2011. Our audit WOTk has been undertaken so that we might stale to the Charity's trustees thos& matters we a required to state lo them In an audllor's report and for no othèr purpose, To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and thè Charity's trustees as a body, for our audit work, for thls report, or for the opinions we have fonned. Do¢u8lgn•d by.. A11A18013DD84AC.. Kyla Bellingall BDO LLP, slatulory auditor Bimingham, UK Dale 26 November 2021 BDO LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as audllor of a company under section 1212 of the Companies Act 2006. BDO LLP is a limited Ilabllty partnership registéred in England and Wales {wilh registered number OC305127).
Manchester Cathedral Development Trust Balanc• sheet as at 31 Decombor 2020 2020 2019 Currnnt •88Ot8 Debtors & prepayments Cash at bank and in hand 467 239,109 2,414 88,063 239,576 90,477 Cr•dltor8: amounts f•lllng due withln on8 yoar Creditors & accruals 6,525 7,648 Not curmnt a•••l• 233,051 82,829 Not ••••ts 233,051 82,829 Fund• Restricted funds Unrestricted fvnds 76,893 156,158 72.893 9.936 10 233,051 82,829 The not88 on page8 11 to 18 form part of these financial statemonts. These financial statements wèra approved by the Tru81ee$ and authorSsed for issue on 17 December 2020 R.M. Govender
Manchester Cathedral Development Trust Statfrmfrnt of Cash Flow8 for tho yoar ended 31 Oecemb•r 2020 2020 Total Fund• 2019 Total Funds Net cash g•n•rated by operatlng aetlvlllos 11 150,966 25,549 Cash flo from Inve8tlng actltI••. Interest and dividends 80 150 Net cash provld•d by Inve•tlng actlvltlfr8 80 150 Change In cash and ca•h oqulv•l•nts In tho yo•r 151.046 25,699 Cash and ¢a6h equivalents brought forward 88,063 62.364 Cash and cash 8quSvalonts Carried forward 239,109 88,083 12
Manchester Cathedral Development Trust Notes fornilng part of the finan¢lal statements lor tho year frndod 31 Do¢•mber 2020 Accounllng pollcle• The financlal statements are prepared under the hlstorlcal cost convention and in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charitles SORP IFRS 1021. effective January 2018, applicable UK Accounting Standards and the Charities Act 2011. As a result of this change there has been no ovefall Impact on the net assets of the Charity but Ihere has been a change in the disclosure of certain items. The particular accounting poIleS adopted by the Tru51ees are described below. Golng Concom The financial stalemenls have been prepared on a going concern basis. In the curnt economic climat6, the trustees acknowledge the ongoing Covid-19 pandemic and have reforecasl the financial position and cash-flows for the p8riod to 31 December 2021. The forecasts Confirm that the charity can meet its obligations as they fall due. The Truslees note that the chartty has cash balances availabl8 that represent many years of non- dlscretionary expenditure. As such the Trustees are satisfied that the Charity can settle ils obligations for perlod of at least 12 months from the dale of signing the financial statements and that it is appropriate for the financial statements lo be pr8pared on a going concem basis. Fund Accountlng Unresldcted gen8r81 fvnds are funds which are available for use at the dIsCreOn of the Trustees In furtherance of the general obleclives of the charity. Reslricled funds are fvnds to be used in accordance with specific restrl¢llons imposed by donor8 or which have been raised by the charity for particular purposes. Incom• All income is recognised once the charity has entitlement lo the income, it is probable that the income will be recelved and the amount of incom& receivable can be measured reliably. Donations are recognised In the statement of financial activities when the charity has been notified in writing of both th8 amount and settlement date. In the event that a donation is subject to condllions that require a level of p8rforman¢e before the charity is entitled lo the funds, the income is deferred and not re¢ognised until either Ih05e conditions are fully met. or the fulfilment of those conditions is wholly within the ¢ontrol of the charity and it Is probable that those conditions will be mel. Legacy glfts are re¢ognised on a case by case basis following the 9rant of probate when the executor of the estate has communicated in writing the amount of the legacy, that there are 5uffi¢ient assets in the aslate to pay the legacy and that any conditsons attached to the legacy are within the control of the charity or have been mol. Investment incoffe Is included when receivable. Dlrnct Charltable Exp•ndlturn Liabilities are recognised a8 expenditure as soon as there is a legal or constructive obligation committing the chanty to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured or estimated reliably. All expenditure is accounte¢J for on an accruals basis. Costs of raising funds comprise the costs associated with attracllng voluntary inwme. Chanlable expenditure comprisès those costs incurred by the charity in the delivery of its actsvities and services lo Manchester Cathedral and the community served by Manchester Cathedral. 11 includes both costs that can be allocated direclty lo such activities and those costs of an indirect natur8 necessary to support them Including govemance costs. 13
Manchester Cathedral Development Trust Notes forming part of the flnancial statements for the y•ar ondod 31 December 2020 Continued Accounllng pollcle8 Icontlnuod) Taxallon The trust is a charity within the meanlng of Para 1 Schedule 6 Finance Act 2010. Accordingly the trust is potentially &x8mpt from taxation in respect of incom8 or capital gains within oalegories covered by Chapter 3 of Part 11 of the Corporation T8x Ad 2010 or Section 256 of the Taxation of Chargeable Gains A¢1 1992, to the extent that such Income or gains are applied exclusively lo Charitable purposes. No tax charge arose in the period. Income Rostrlcted restrlcted fund$ funds 2020 Tot¥1 2019 Total Income Donatlons and legacies Tax recoverable under Gift Ald 4,000 153.976 690 157,976 890 30,582 930 4.000 154,666 158.868 31.512 Income from investments Interest receivable on short tem deposits 80 80 150 80 150 Totsl Ineomè 4,000 154,746 158,748 31,662 Charltablo èxpondtturn Re•trlcted Unr88tr1¢tod fund• fund$ 2020 Totsl 2019 Total Grants Manchesler Cathedral Support costs 8,524 8,524 7,586 8,524 8,524 7,586 Support¢08ts 2020 Totsl 2019 Total Support co$1$ include.. Finance costs Governance costs- stalulory a¢¢ounis Governance costs - audit fee Other costs 3,812 1,000 3,281 431 3,812 1,000 2,518 256 8,524 7,586 14
Manchester Cathedral Development Trust Nots8 formlng part of the flTranGl¥l statements for the year endod 31 Decgmber 2020 Continu Support ¢08ts {contlnu•dl Support costs including govemance costs a charged to charitable expenditure and allocated between restricted and unrestricted funds based on the income for the fund in that year. The total support Costs for the year amounted lo £8,524 12019.. £7,586) and include postage, stationery, printing, professional fees, sundry expenses and audit fees. Informatlon rtyardlng Trusto No Trustees, or person related or connècted by business to them, have CeIVed any remuneratson or had expenses reimbursed from the Charity during the year. Tho Charity does not have any employees. Ooblor• and prepayments 2020 2019 Gift aid recoverable Manchester Cathedral Hire Limited 1,914 500 2,414 Credltorn: amounts falllng duo wlthln on• y•ar 2020 2019 Manchester Cathedral Volition Community Accru818 and defèrffjd Incomé 20 315 7.313 6,525 6,525 7,648 Analy81• of net as•ots betwgen fund• Rutrlcted Unro8trlctod fund8 fund8 Tot•1 funds Fund balances at 31 December 2020 as represented by.. Net current as58ts 76,893 156,158 233,051 76,893 156,158 233,051 Fund balances at 31 Decemb8r 2019 as represented by.. Net current assets 72,893 9,936 82,829 72,893 9.936 82,829 15
Manchester Cathedral Development Trust Noles formlng part of the Ilnancial statomentg for the year endod 31 December 2020 Contlnued Restrlctsd Funds - 2020 Brought foThvard In¢ome Expendlture Transfèr Carrbd foThvard New organ fund Lighting improvement fund Fabric fvnd 46,525 1,242 25,126 46,525 1,242 29,126 4,000 72,893 4.tyjo 76,893 Rwtrlctod Funds- 2019 New organ fund Lighting improvement fvnd Fabric fund 46,505 1,242 2,055 20 48.525 1,242 25,126 23,071 49,802 23.091 72,893 10. Unrg•trlct•d Fund• Brought In¢om• expendltur• forward Galn• Tranofer8 Carrlod lorward Unrestrlcled Funds 2020 9,938 154,748 18,5241 156,158 Unrestricted Funds 2019 8,951 8.571 17,586) 9,936 11. Calh flow Reconciliation of net income to net cash used in opeiating activities.. 2020 2019 Net movement in funds as per tha statement of financial activities Adjustments for.. Deduct interest and dividend income shown in investing aGtivitses Decreasellincreas81 in debtors (Decreasellincrease in creditors 150,222 24,076 1801 1,947 11.1231 11501 11,3661 2,989 Net cash generated by operab'ng activities 150.966 25,549 16
Manchester Cathedral Development Trust Notes formlng part of tho flnanclal statem•nts for th8 y?•r onded 31 Docomber 2020 Contlnuèd 12. R•latsd Parti•8 The Capitular Truste8s are members of the Chapter of Manchester Cathedral which received grants in the year amounting lo £Nil12019 £Nill as set out in note 3 on page 13. At 31 December 2020 £Nil was owed to Manchester Cathedral (2019 £201. At 31 December 2020 £Nil was owed by Manchester Cathedral Hire Limited (2019 £5001. The Dean of Manche818r, The Very Reverend R.M. Govender, 18 also a trustee of Volition Community, a registered charity. At 31 December 2020 £Nil was owed lo Volrtion Communlty12019 £315). 17