Charlty Numb•r 1008295
Mancho•tor Cathodfal Devolopmonl Tru•t
Annual Report and Financial Statemen18
Year Ended
31 December2021

Manchester Cathedral Development Trust
Annual report and financlal statomonts
for the year end•d 31 DeCem￿r 2021
Contents
Pagg
Legal and admlnistratlve informatlon
Trustees, report
24
Statement of the respon5ibililles of Ihe Trusteès
Independent Examinerfs report to the Trustees
statement of flnancial aclivities
Balance shèet
statement of ca8h flows
Notes to the flnanclal statements
10-15

Manchester Cathedral Development Trust
Annual r•port and fin•n¢i•l $tstements
for the year end•d 31 Do¢•mber 2021
Logal and admlnl•tratlvo Informatlon
Contact Addres8
Manchester Cathedral Oevelopmenl Trust
Victoria Street
Manchester
M3 1SX
Tolephone 0161-833-2220
L8gal Statu8
The charlty was formed as a Trust under a Trust Deed dated 2 December 1991. It is a Regisl8red Chanty
110082951.
Tru•to08
Lay Trustees..
Mr W. Smith JP, Lord Lieutenant for Greater Manchesl8r- Chair- retired 31 May 2022
Mr R. E. Hough C8E DL LLB- Chalr- appointed 7 December 2022
Mr D.R. Allinson - appointed 7 December 2022
Mr P. Deakin
Mrs M,E.M¢Clintock M8E, BA
MrJ.P. Wainwright MA FRICS- retired 6 September 2022
Capilular Trustees..
The Dean of Manchester The Very Reverend R,M. Govender
The Reverend Canon J.N. Ashworth - appointed 13 February 2023
The Reverend Canon D,A. Holgate- retired 31 May 2022
The Reverend Canon M.Z. Wall
Independ•nt Examlnor
Heather Wheelhouse ACA
8DO LLP
Br￿g8Water House
Countersllp
Bristol
BS168X
Bankern
Royal Bank of S¢otland pl¢
St Ann Street
Manchester
M60 2SS

Manchester Cathedral Development Trust
Trusteo8' roport
for the year ondod 31 Decembgr 2021
The Trustees present their annual report and the un-audited financial statements for the year ended
31 December 2021.
Structiirei governance and management
The charity was fomied as a Trust under 8 Trust Deed dated 2 December 1991. It is a Registered Charty
110082951.
Trustees who served during the year were a5 listed on page 1. There is provision for five Capilular Trustees being
ex-officio trustees consisting of the Dean and four residenliary Canons of Manchester Cathedral together with four
Lay Trustees. The Lay Trustees are appointed for a term of three years but may be r8appoinled. Trustees are
recruited by a variety of methods including recommendations from existing Trustees. Each individual who has been
recommended 18 then interviewed 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 charity at the Trustee meetings. The Trustees elect a lay chairman from their number, the Vice chair being
the Dean of Manchester, Trustee meelings should be held ￿1c8 a year and the quorum for a m8eling is five
Iru81ees consisting ol not less than three Capitular Trustee8.
A Finance Committee which has been established wllh its main terms of refe￿nCe being to..
Review and monitor the accountlng processes.,
Oversee preparation of the financial accounts.
The Trustees are responslble for 8ettlng the strategic directlon of the charity.
Rhk Managom?nt .
The trustees have performed a review ol the risks that we believe could seriously affect the charity's perfofmance.
future prospects, reputation or ils ability lo deliver again81 11$ priorities. This development of our risk process has
resulted in the inclusion of liquidity as a principal rlsk. The approval of grants to the Cathedral. our major cash
outflow, is c108ely monitored with regular forecasts of cash requirements and regular management accounts that
are ￿VieWed by the trustees. The trustees are therefore satisfied that there are appropriate fi'nancial arrangements
in place to ensure that the Chgrily 1$ able to carry out its objectlves wllhin its cash Ilow availability.
Golng Concern
The Trustee8 have revisSled the going concern assessment in January 2023 followin9 on from the outbreak of
Covid-19 in early 2020 and the recent cost of living crisis. Although there has been some impact this has been
quite minimal and has no material Impact on the financial viability of the charity in the foreseeable future.
Obloetlv08 and a¢tlvltloS
The Trust is a registered charty whose objects are'.-
The Improvement, enhancement and major refurbishment of Manchester Cathedral, its fabric and grounds and any
other land owned by or leased to the Trust, and the provision of new facilities and equiprnenl of general benefit to
Manchester Cathedral and the community served by Manohesler Cathedral.
The Carrylng out andlor provision of financial assislan¢e for Ihe carrying out of new work5 or new additions to
Manchester Cathedral including Ibul wilhoul 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
consultats'on with the Cathedral Architect ft)r the time being) bo conSide￿a to be works which do not constitute part
of the normal and routine costs of running Manchester Cathedral.
The assisting of the Dean and Canons in such other purposes and objects which the Dean and Canons wish lo
carry out and which the trustees consider lo be encompassed within the foregoing objects.
The Iru5te95 have had due regard to the Charity Commission guidan￿ on public benefit.

Manchester Cathedral Development Trust
Trustees, rnport
for the year endod 31 DgGgmbor 2021
Obj•¢tiv•8 and actlvltles {continued
Goveming Documentatlon Restriction
In raising income for the Charity the Tnjstees shall observe the following restriction..
They shall not undertake any permanent trading activities In raising fvnds for the charitable objects a$ detsiled
above.
Achl•v•m•nts #nd porformancfr
Fundral¥ing Progr888
The Trustees are currently working with the dire¢tor of fundraising to develop the next phase of the Development
Plan. During 2018 & 2020 a major exercise was undertaken examining use of space In the Cathedral including a
number ol workshops being held with various stakeholders. This project was fijnded by a Resilient Heritage Grant
trom the National Heritage Lollery Fund and the results will lead to outline concepts for improvements to the
Cathedral fabric. Following this there will be a clear direction for fundraising.
Phase 2 of the Ilghting project Is a180 belng developed together with the refvrblshmenl of the Cathedral Library.
Externally, there a￿ a number of memorlals being planned as part of the development of the public realm, with
particular reference to Victoria Street work8 currently being carried out by Manchester City Council.
Flnancl•l Rovlew
Total income for the year amounted lo £45.331 compared lo £158,746 in 2020. Grants of £51,950 were made lo
the Cathedral In the ye8r12020 £Nill. N81 expenditure for the year amounted to £15.48012020 - Net income
£150,222). Al 31 December 2021 reslricled fvnds amounted to £76,612 and unrestriclod funds amounted lo
£140,959, The Cathedral requests grants from the charlty as the work progresses on the various projects.
Currently, the next phase of the development project is being developed together with a fundraising strategy.
R••ep•e• Pollcy
The Charity h8s attracted funding for Speclfic purposes over the years includlng the new organ, new lighting and
new liturgical furniture. The majority of these projects have now been completed and the grants have been paid to
the Cathedral. A number of new sources of donations are being 6stabllshed pa￿'cUlarlY for the final phase of Ihe
new lighting, thus reducing the overall financial risk to the Charity.
There is no requirement to hold free reseNes. Al 31 December 2021 total reserves amounted 10 £217,57112020
£233,051) of which £76,61212020 - £76,893) are restricted.
Fundr•i$lng
Section 162a of the Charities Act 2011 requires charities lo make a statement r8garding fundraising activities.
Although we do not undertake widespread fundraising from the general public, the legislation defines fvnd raising
as "soliciting or otherwise procuring money or other propety for charitable purposes." Such amounts receivable
are presented in our accounts 8$ voluntary income. and includes legacies and grants.
In relation to the above we ¢onfim that all solicitations are managed intemally, wilhoul Involvement of commercial
participators or professional fund-raisers, or third partie5. The day to day management of all income 9eneration is
delegated to the executive team, who are accountabl6 to the trustees. The charty is not bound by any undertaking
to be bound by any regulatory scheme.

Manchester Cathedral Development Trust
Trust•O8' report
for the yfrar end•d 31 Docomber 2021
Fundralslng (contlnuodl
We have received no complaints in relatson to fundralsing aclivitles. Our tem)s of employment require staff lo
behave reasonably al all times.. as we do not approach individuals for funds we do not have to particularise this to
fundraising aclivitses nor do we consider it necessary to design specific procedures to monitor such activitse$.

Manchester Cathedral Development Trust
statement of responslbllltles of th• Tru$tO08
foi the year ended 31 Decembor 2021
ststomont of r•sponslbllbtles of tha Tru8te&8
The Trustees are responsible for preparing the Annual report, Trustees, report and th8 financial statements in
accordance with applicable law and regulations.
Charity law requires the Tfuslees lo prepare financial slatemenl$ for each financial year in accordance with United
Kingdom Generally Accepted Accounting Practice (United Kingdom A¢counlSng Stsndards and applicable lawl.
Under charity law the Trustees must not approve the financial stalernenls unless they are satisfied that they give a
true and fair view of the state of affairs of the charity and of the incoming re50urGes and appliGalion of resources,
including the income and expenditure. of the Charity for that period.
In preparing the88 financial ststemènts, th8 Trustees are required to..
selèct suitable accounting policies and then appty them conslslently.,
make judgements and accounting esllmates that afe reasonable and prudent.,
stsle whether appllcable UK Accounting Standards have been follr)wed, subject lo any material departures
disclosed and explained in the financial statements,.
prepare the financial ststements on the golng concern basis unless it is inappropriate to p￿SUrne Ihat the
Charity will continue in business.
Th8 Trus18es are responsible for keeping adequate accounllng records that are sufficlent to show and explain the
charity's transactions and disclose with reasonable a¢cura¢y al any lime the flnancial position of the Charity and
enable them lo ensure that the financial statements comply with the Charities Act 2011. They are also responsible
for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection
of fraud and other Irregularities.
This report was approved by the Trust
on 13 Fgbruary 2023 and Slgned on behalf of the Trustee8

Manchester Cathedral Development Trust
Report of the independent oxaminer
Year ondod 31 Decembgr 2021
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
MANCHESTER CATHEDRAL DEVELOPMENT TRUST
I report to the trustees on my examination of the accounts of the Trust for the year ended 31 December 2021 which are
set out on pages 7 to 15.
Thi5 report Is made solely to the charity's trustees. as a body, in a¢¢ordance with Regulation 31 of the Charities (Accounts
and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's trustees those matters
l am required lo slate lo them in an independent examinevs report and for no other purpose. To the fullest extent permilled
by law, I do not accept or assume responsibility to anyone other than the chanty's trustees as a body, for my work, for this
report, or for the statement I have made.
Ro8pon•lbllftle8 and ba818 for roport
As the trustees of the charity you are responsible for the preparation of the ac¢ounts in accordance with the reqUI￿rnents
of the Chanlies Act 2011 ('the Act'l
I report in reSp￿t of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out
my examination I have followed all the aPpI￿able Directions given by the Charity Commission under section 145lSllbl of
the Act,
Ind¢pend•nt exam1n0￿$ •tatement
I have completed my examination. I confirm that no material matters have com8 to my attention In connection with the
examination givlng me cause to believe that in any material respect..
accounting records were not kept in fespect of the charity as required by 8eclion 130 of the Act,, or
2. the accounts do not accord wlth those records.. or
3. the accounts do not comply with th8 accounting requirements concerning the form and content of the
acGounls set out in the Charitles IAccounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'lrue and fair view, whlch15 not a matter considered as part of an independent
examination., or
4. the accounts hav& not been prepared in 8ccordanc8 with the methods and principles of the Statement of
Recommended Practlce for accounting and reF>Orting by charitie$ (applicable lo charllles preparing their
a¢¢ounts in accordance with the Financlal Reporting Standard appIl￿ble in the UK and Republic of
Ireland IFRS 10211.
I have no concerns and have come across no other matters in connectlon with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the a¢¢ounls lo be reached.
Signed:
Heather Wheelhouse ACA
BDO LLP
Bridgewater House
Counterslip
Bristol
BS168X
Date,. 17 February 2023

Manchester Cathedral Development Trust
8al•n¢o sh••1
•$ •t 31 Do¢omb•r 2021
2021
2020
Note8
Current assets
Debtors & prepayments
Cash at bank and in hand
2,681
249,761
467
239.109
252,442
239.576
Cred5torn: amounts folllng
due wlthln one year
Creditors & accruals
34.871
6,525
Net curront a••ets
217,571
233,051
Net a8•ot8
217,571
233,051
Fund8
Restricted funds
Unrestricted funds
76,612
140,959
76,893
156,158
10
217,571
233,051
These financial stslemenls were approved by the Trustees and authori8ed for issue on 13 FebNary 2023.
R.M. Govender
The notes on pages 910 15 fomi part of these financial 5tal8menls.

Manchester Cathedral Development Trust
Statement of Cash Flows
for tho yoar onded 31 Decomber 2021
2021
Totil
Fund8
2020
Total
Funds
Notes
Net cash g•neratod by operatlng o¢tlvltlo8
11
10,627
150,966
Ca•h Ilowj from Investlng activltles:
Interest and dividends
25
80
Not cash provldod by Invo•tlng acllvltl•s
25
80
Change In cash and cash •qulval•nts In tho yo•r
10,652
151,046
Cash and cash equivalent8 brought forward
239.109
88.063
Cash and cash equN8len18 carried foThvard
249,761
239,109

## **Manchester Cathedral Development Trust** 

**Notes forming part of the financial statements for the year ended 31 December 2021** 

## **1. Accounting policies** 

The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities SORP (FRS 102)” effective January 2019, applicable UK Accounting Standards and the Charities Act 2011.  As a result of this change there has been no overall impact on the net assets of the Charity but there has been a change in the disclosure of certain items.  The particular accounting policies adopted by the Trustees are described below. The registered office of the charity is Manchester Cathedral, Victoria Street, Manchester M3 1SX. 

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005, which has since been withdrawn. 

The financial statements are prepared in GBP, being the functional currency, and are rounded to the nearest pound. 

## **Financial Instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value. 

## **Going Concern** 

The financial statements have been prepared on a going concern basis.  In the current economic climate, the trustees acknowledge the effect of the current cost of living crisis and have reforecast the financial position and cash-flows for the period to 31 December 2023.  The forecasts confirm that the charity can meet its obligations as they fall due. 

The Trustees note that the charity has cash balances available that represent many years of nondiscretionary expenditure.  As such the Trustees are satisfied that the Charity can settle its obligations for a period of at least 12 months from the date of signing the financial statements and that it is appropriate for the financial statements to be prepared on a going concern basis. 

## **Fund Accounting** 

Unrestricted general funds are funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. 

Restricted funds are funds to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. 

## **Income** 

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Donations are recognised in the statement of financial activities when the charity has been notified in writing of both the amount and settlement date.  In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be met. 

10 



## **Manchester Cathedral Development Trust** 

**Notes forming part of the financial statements for the year ended 31 December 2021** _**Continued**_ 

## **1. Accounting policies (continued)** 

## **Income (continued)** 

Legacy gifts are recognised on a case by case basis following the grant of probate when the executor of the estate has communicated in writing the amount of the legacy, that there are sufficient assets in the estate to pay the legacy and that any conditions attached to the legacy are within the control of the charity or have been met. 

Investment income is included when receivable. 

## **Direct Charitable Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity 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 accounted for on an accruals basis. 

Costs of raising funds comprise the costs associated with attracting voluntary income. 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services to Manchester Cathedral and the community served by Manchester Cathedral.  It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them including governance costs. 

## **Taxation** 

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 

## **Judgements in applying accounting policies and key sources of estimation uncertainty** 

In preparing the Financial Statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities.  Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances.  Actual results in the future could differ from such estimates. 

There are not considered to be any key areas of judgement in these financial statements. 

11 



Manchester Cathedral Development Trust
Not￿ forming part of the flnanclal statsments
for tho y•ar ondod 31 Dgcember 2021 Contlnued
Incom•
Year ended 31 December 2021
Un-
Restrlcted ro8lrlcted
funds
fund8
2021
Total
Income
Donations and legacies
Tax recoverable under Gfft Aid
23,500
19,660
2,146
43,160
2.146
23,500
21,806
45.308
Income from invèstments
Interest r8c8ivable on short term deposits
25
25
Total Incom•
23.500
21,831
45,331
Year ended 31 December 2020
R•8trl¢ted r••tri¢t•d
fund8
fund•
2020
Total
Incom8
Donallons and legacles
Tax woverable under Gift Aid
4,000
153,976
690
157,976
690
4.000
154.686
158,668
Incomo from inve8lment8
Interest receivable on short term deposits
80
80
Total Income
4,000
154,746
1S8,746
12

Manchester Cathedral Development Trust
Notes formlng part of the financial stalements
for the year endod 31 December 2021 Continued
Charltablo •xpenditure
Year ended 31 December 2021
Rostrlcted
fund8
Unre8trlcted 2021
fund8
Tot•1
Grants
Manchester Calhedral
23,500
28,450
S1,950
Support costs
1,888
6,973
8,861
25,388
35.423 80.811
Year ended 31 December 2020
Restrlcted
fund•
Unfestrlcted 2020
funds
Total
Grants
Manchester Calhedral
Support Costs
8,524
8,524
8,524
8,524
Support CO81•
2021
Total
2020
Total
Support costs include..
Finance costs
Governance costs - stalulory accounts
Governanc8 costs - independent examiners fee
Other costs
3,913
1,025
3,690
233
3.812
1,000
3,281
431
8,861
8,524
Support costs including governance costs are charged to charitsble expendllure and allocated between
restricted and unrestricted funds based on the income for the fund in that year. The total 5UPPOrt costs for
the year amounted lo £8,861 12020.. £8,524) and include postage. stationery, prinllng, professional fees,
sundry expenses and audit fe85.
The￿ were no ernployees during the current or previous year.
Tru$to08 Rornuneration
No Trustees, or person related OT connected by busine55 lo them, have received any remuneralion or had
expenses reimbursed from the Charity during the year. The Charity does not have any employees.
13

Manchester Cathedral Development Trust
Notes fomiing part of the financial statements
for the year ended 31 December 2021 Continued
Dobtors and propayrngnts
2021
2020
Gift aid recov&rable
Other debtors
2,531
150
2,681
467
CredltOf8: amounts falling duo
within one yoar
2021
2020
Manchester Cathedral
Accruals
28,450
6.421
8,525
34.871
6,525
Anaty•l• ol net a•ut• betwmn lund•
R08trlct•d Unre8trlctod
lund8
funds
Totsl
tund8
Fund bal8nc&s al 31 December 2021
as represented by..
Net current assets
76,612
140,959
217,571
76,612
140.959
217,571
Fund balance8 al 31 December 2020
a8 repre88nled by..
Net current assets
76,893
156,158
233.OS1
76.893
156.158
233,051
Reslrlcted Funds
Restricted Funds 2021
Brought
fonyard
Income
Expendlturo
Transfer
Carrled
forward
Organ fvnd
Roof repair
Lighting improvement frjnd
Cathedral Fabric fund
48,525
46.525
20,000
{21,6071
1.607
1,242
29.126
1,242
28,845
3,500
{3,7811
76,893
23,$00
125.3881
1,607
76,612
14

Manchester Cathedral Development Trust
Notes formlng part of th? finan¢lal statoments
for thg year ended 31 Dfr¢&mbor 2021 Contlnued
Reslrict•d Funds Icontlnu•dl
Restricted Funds 2020
Brought
forw•rd
Income
Expendlture
Tran8f•r
C8rrled
forward
Organ fund
Lighting improvement fund
Cathedral Fabnc fund
46,525
1,242
25,126
46,525
1,242
29,126
4,000
72,893
4.000
76,893
All restricted funds relale to repairs or improvements lo Manchester Cathedral.
10. Unre8tricted Fund•
Brought
forward
Incom•
Expondlture
Trnn8fer•
Carrled
forward
Un￿Stricted Funds 2021
156,158
21,831
135,423)
1,6071 140,959
Unreslrlcted Funds 2020
9,936
154,746
18,5241
156,158
11. Cash flow
Reconcillation of net income to net cash generated by operating actlvilieg-.
2021
2020
Nel movement in funds as per the stslement of
ffinan¢lal activities
Adjustments for..
Deduct interest and dividend Inco￿ shown in investing activities
IlncTeaselldecrease in debtors
Increaselldecreas&l in creditors
115,4801
150,222
1251
12,2141
28,346
1801
1,947
11,1231
Net cash generated by operabng activities
10,627
150,966
12. Relatsd Parti
The Capitular Trustees are Th￿MberS of the Chapter of Manchester Cathedral which receNed grants In the
year amounting to £51,95012020- £Nill as set out in note 3 on p8ge 12.
Al 31 December 2021 £28,450 was owed lo Manchester Cathedral12020 - £Nil).
15