2022-03-31-accounts

Reglstered Charlty Number: 1033089 UNCOLN CATHEDRAL MUSIC FUND Annual Report5 and Financlal Statements for the year ended 31 March 2022

LINCOLN CATHEDRAL MUSIC FUND

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

The Dean, The Very Reverend Christine Wilson The Precentor, The Reverend Canon Nicholas Brown The Chancellor, The Reverend Canon Dr Paul Overend The Chair of The Music Council, Mr Andrew Clark The Vice-chair of The Music Council, Mrs HM L Reeve (Appointed 4 March 2022) Principal Address 4 Priorygate Lincoln LN2 lPL Music Council Mr Andrew Clark, Chair Mrs Henrietta Reeve, Vice Chair The Very Revd Christine Wilson, Dean The Revd Canon Nicholas Brown, Precentor Mrs Gunilla Carlbom Mrs Angela Chappell (Appointed 17 June 2022) Mrs Janis Daly Mrs Sandra Gratrick Dr Laurence Oliver Mr Arie Prentice Mrs Lindsey Sutton Lady Charlotte Tyrwhitt Mrs Jenny Worth Independent examiner Jane Marshall FCA DChA BHP LLP One Waterside Place Basin Square Brimington Road Chesterfield S41 7FH Investment managers Cazenove Capital Management, Schroder & Co Limited Registered charity number 1033089

LINCOLN CATHEDRAL MUSIC FUND Trustees, Report for the year ended 31 March 2022 The Trustees present their ￿pOrt and the financial statements of the Charity fgr the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of RecommendÈd Practice ISORPI -Accounting and Reporting by Charities- in preparin8 the annual report and hrnanclal statements of the charity. Stryrture, Govemano and Man¥ement The Musit Fund is a registered charity 6overned by a Trust Deed dated 28 Jènuary 1994, sublert to a Deed of Variation dated 26 February 2002, to include girl a5 well a5 boy thoristers. The charity further amended its Trust Deed on 31 December 2020 to remove South Hvmberside" as a geo8raphical area of benefit within the objectives. as it no lon8er exists. and amend to- North Lincolnshire and North East LincolnshiTrf and to provide for additional ex- offitio trustees. The body of Trustees shall consist. when tomplete, of six ex officio trustee5= The Dean of Lincoln The Precentor of Lincoln The Chancellor of Linttsln The Subdean of Lintoln The Chair of the Lincoln Cathedral Music Council,. and The Wice-chalr of the Lincoln Cathedral Music Council. Day to day management of the Charity is delegated to the ￿nCOln Cathedral Music Council. GovernoAJte The Trustees shall hold at least two ¢xdinary meetings in each yèar. The Trustees are elerted at special meetin8S Wtth no less than 21 days notice being given to the currentTrustees. Every matter is determined by a majority of vote5 01 the TnJstee5 present at the meeting. Policles The policy agreed with respect to the Telease of capitsl to the Cathedral unrestrirted fund is as follows.. al 3% of the tapital value of the fund at the start gf the financial year- bl EquNalent cost of five thoral scholars. and, t) 50% of the net income of the fund during the year, excluding Investment income and after the funding of the five choral stholars. The Investment Pdicy of the Trustees seeks to produce the best financial return within an acceptable level of risk. The investment objective for long term reserves is to 8enerate a return in excess of inflation over the lon8 temi whilst 8eTherating an income to support the ongoing activities of the tharity. In this way, income generation should contlnue to be sustsinable in perpetuity. The investment object for short term reserves is to preseNe capital value with minimal leve15 of risk. ensurin8 high liquidity of assets in order to meet short term cash Ilow needs. The current long temi investment target is RPI +3.5% or better over a 10 year cyclt. Risk fftuncgement The Trustees continue to monitor the major risks to which the Charity is exposed and keep under review the adequacy of systems, whlch they believe. zre adequate and appropriate to the size of the charity and the nature of its opera￿OnS. Partitular to financial controls, the accounts are 5crutinised by the Lincoln Cathedral Chapter Finance Committee. Oble¢tfve5 and Artlvhlès To advance the education of the public in the art of liturgical and other music, both choral and instrumentsl at Lincoln Cathedral. The Musi¢ Fund aims to treate a pemanent music foundation to support the Lincoln Cathedral Choir, or8anists and organ for the benefit of luture generations.

LINCOLN CATHEDRAL MUSIC FUND Trustees, Report for the year ended 31 March 2022 (contlnued) The Trustees have had due regard tg the Charity Commisslon for Enpjand and Wales guidance on public benefit when planning its aim5 and objethves. Stmtegfes Raisin8 funds through annual 8ivin& one-off donation5. profit-maklng ticketed events. legacies, trust application5, promotion31 literature to past & potential donors and media coverage partlcular to giving opportunltSes. Achlèvements and Perforrnance A series of hi8hly suttessful events and other èrtivity raised more than £126,￿0 for the Music Fund In the year. Several events have become a stsple in the taléndar.. a bridge day with Andrew Robson is ever popular and proves to be as enjoyable 50aally a5 It is irTrformative. The choristÈrs' performance of Benjamin Britten's Ceremony of Corols also remains much anticipated. The opportunity to play Lincoln Cathedral's famous Father Willis organ is also hu8ely attractive, and p3y-to-play fixtures have iecovered well after the Ctsvid-19 pandemlc. The end of the pandemic did restrict opportunlties for some events, but an outd¢)or concert performed by LSMcoln Cathedral was enjoyed a large Broup ol people who had not had the opportunity to get together for many month5. Sponsorshlp of the cathedral choristers continues to be generously supported. and in the year far ex¢eeded what was anticipated. The Music Fund Council, which plans and runs most of the fundraising events, Boe5 from strength to strength, SUPPOrted by the Indefatlgable enlhusiasm and skill of its members without whom the tathedral's choir would not be able to commit to its programrne of enhancing the worship of the cathedral. Admlnlstratlve StnKiure The Corpordte Body ol Lincoln Cathedral has agreed to pr¢>vide adminlstratlve support to the Trustees at no charge. Financlal Revlew Total income during the year amounted to £248,71512021'. £198.7781 and £109,07612021.. £76.2041 ofthis was released to The Corporate Body of tintoln Cathedral (hereafter referred tg 35 Lincoln Cathedral) to help toward the annual Costs of eholr and organists. Income sources remained con￿stent with prior periods, with Benerou5 5UPPOrt from individual giving. trusts and legacies. There have been three main fundraising events thisyear, increasing income followln8 the cancellation or postponement of evènts due to the coronavirus pandernic in the prior period. There has a￿s0 been si8nifScant recovery of the investment portfolio. The Trust continued to suppNt the work of the Cath￿ra1,$ musical provision during the period in Ilne the policy outlined on Page 2. The Choral Scholar contribution increased on the prior period to £24,65812021.. £5,8301 due to the PaU5ed pro8ramme for the 2020121 academic peiiod. due to the Covid-19 pandemlc. ReSen￿SpoIft¢y.' At 31 March 2022, the value of total funds is £2,724,33812021- £2,419.9681.

LINCOLN CATHEDRAL MUSIC FUND Trustees, Report for the year ended 31 March 2022 Icontinued) In view ol the ltsng-term nature of the charlty's obje¢tivÈ aim to create a permanent muy¢ foundatlon to support the Lincoln Cathedral Choir. oreanists ènd organ for the benefit of future gewberations, the Trustees intend to build reseNes each finantial year. The Trustee5 have elerted to hold the majority reserve5 a5 investments, operatlng as a de fatto endowment. to ensure the future sustsinability of income streams whlch fund the day-to-day activities of the broader charitable objectives. Thè lunds tomprlse an endowment of £257,886 12021.. £211,250> a re5trirted lund £10.￿ 12021.. £24,016) and unrestricted funds of £2.455,844 12021.. £2,184,702). The unrestricted funds are considered to be eguivalent to the charity's free reserves- these havè intreased on the prior year. in line with the reserves poliry. Drawing down of restricted fvnd5 is in line with the resumption of the choral scholar programme and the applScation of a Benerou5 grant received in the prior year. Plans for future perknls The chartty remain5 committed to supportlng the chotr and or8anists of Lincoln Cathedral through supporting annual costs and continuing tg build a de-facto ￿dow[￿ent to support futyre provision. The toronaviius pandemlc paused the music prograrnme during 2020 and 2021. Thi5 has presented challen8e5 of coTrtinuity and prggression. Work continues to recrult and deveFop the abundant talent within the Choir and ensure that ￿ncoln Cathedral maintsins its muslcal excellente. A number of mu51cal fundrèisin8 events will tske place in the 2022n3 finanaal period includin8 a summer concert at Fulstow Hall and Benjamin Britten'5 Ceremony ol Carols. Trus￿*< ResponslbllStles The Trustees are responsible for preparing the Trustees. Report and the financial staiements in accordance with appli￿ble law and United Kingdom Accountin8 Stsndards (United Kingdom GenerallyAccepted Accountln8 Practice). The law applicable to charities in England and Wales ￿quI￿S the trustees to prepare financlal statements for each financial year which gNe a true and fair view of the state of affairs of the Charity and of its incomin8 resources and application of re50urtes of the Charity for that period. In prep3rfjnE these financial statements. the Trustees are required to: selett suitable accounting policies and then applythem con5t5tently,' observe the methods and principles in the Charities SORP 2019 IFRS 102} make Judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounts"ng Standard5 have been followed, subject lo any material departures disclosed and explained in the financial statements; prepare the financSal ststements on the goin8 contern basis unles5 It is iftappropriate to presume that the harity will continue in operatiw. The Trustees are responsible for keeping proper accountin8 records that disclose wth reasonable accuracy at any time the financial position of the Charfty and enable thern to ensure that the financial statements tompty with Charities Act 2011, the Charitie5 (Accounts and Reports) Re8ulations 2C¥)8 ar)d the provisions of the CIO constitution. They are also responsible for safeguarding the as5et5 of the Charity and heft￿ for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved on behalf of the Trustees on l December 2022 The Very Reverend Chrlstlne Wllson Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LINCOLN CATHEDRAL MUSIC FUND

I report to the charity Trustees on my examination of the accounts of Lincoln Cathedral Music Fund for the year ended 31 March 2022 which are set out on pages 6 to 14.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's accounts as carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

INDEPENDENT EXAMINER'S STATEMENT

Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• accounting records were not kept in respect of the charity as required by section 130 of the Act; or

• the accounts do not accord with those records; or

• the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jane Marshall (Dec 14, 2022 17:50 GMT)

Jane Marshall FCA DChA

BHP LLP One Waterside Place Basin Square Brimington Road Chesterfield S41 7FH

Date: Dec 14, 2022

5

UNCOLN CATHEORAL MUSIC FUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022 Un￿trict￿ Endowmènt RestrKted Funds Funds Funds 2022 2022 2022 Total Funds 2022 Total Fund3 2021 Note In¢ome from: Oonalons {induding gft adl Legaaes Grants receNabl8 Raising funds.. Evantg Fixed assèt invastment ￿cOme Interesl rocewable Total Incomlng rnsourc•o'. 22.363 87.535 7,250 14,573 44.186 87.535 11.OCw) 15.136 90.856 44,282 SS.928 20.500 188 77,880 11.000 15.138 90,856 215.892 7,250 25.573 248.715 198.778 Ex￿AllIt￿re on: Cost of goneratlng lunds Cost of ¢haritablè activitKs RaisiThJ funds.. Events 78.181 4,898 38,981 117.162 4.898 83.665 Total r•sourc•s •xpendgd: 83,079 38.981 122,060 83.665 Net galn81{losseg1 on Inbp$tm•nts 138.329 39.386 177.715 299.247 Nèt income Other ￿e09￿L￿ed gains and ￿￿￿8.. Net M0￿ment in 271,142 46,636 113,4081 304.370 414.360 271.142 46,636 113.4081 304.370 414.360 Bala￿e9 as at 1 April 2,184,702 211,250 24,016 1419.968 2.005,608 Balar￿a as at 31 March 2,455,844 257.886 10,608 1724,338 2.419.968 l incorne a￿1 8ypanditure is derived from rxjntinuing aetNities. The slatwnenl (Arina￿al actlvities irKludes all gain$ and k)sses recDgnised in tha y8ar.

LINCOLN CATHEDRAL MUSIC FUND BALANCE SHEET YEAR ENDED 31 MARCH 2022 2022 2021 Note FIXED ASSETS Investrnents 2,550,089 2,151,340 CURRENT ASSETS Debtors 38,457 69,021 Cash as bank 159.766 215.967 198.223 284.988 Current Liabilitie5 Creditors 23.974 16.360 NET CURRENT ASSETS 174,249 268,628 NET ASSETS 2.724.338 2,419.g68 Representgd by: Restricted Funds ETrJowment Fund5 Unrestricted Funds 10,608 257,886 2.455,844 24,016 211.250 2.184.702 Total funds 2.724,338 2,419.968 Approved authorised for issue on l December 2022 The Very Reverend Christine Wilson Trustee

LINCOLN CATHEDRAL MUSIC FUND Notes to the Financial Statements for the year ended 31 March 2022 ACCOUNTING POLICIES: lal Entltystatu$ TheTrust Is an unincorporated charity re8iStered with the Charity Commission in En8land and Wales. Ibl basls of aCcO￿ntIng The financial statements have been prepared In accordance with Attounting and Reporting by Charities.. 5tzternent ol Recommended Prdctice applitable to charltles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ ¢f Ireland IFRS 1021 leffective l January 20191- (Charities SORP IFRS 10211 and the Financial Reporting Standard appllcable in the UK and Republic of Irelanil IFRS 1021. The charity is a Public Benefit Entity as defined by FRSIO2. Assets and liabilities are Initially recognised at historical cost or transaction value unless otherwise stated in the relevant ccouThtin6 policy notes. Fair value movements are dealt with through the Statement of Financial Activities. The flnanclal statements are presented in sterling Wh￿Ch is the funcbonal currency of the charity and rounded to the nea￿st £1. {¢1 Going concern The trustees have assessed whether the use of the going toncem basis Ss appropriate and have considered possible events or tonditions that might cast significant doubt on the ability of the tharfty to continue as a goin8 concem. The trustees have made this assessmént for a period of at least one year from the date of approvèl of the financial statements. In view ol the level of assets held, the trustéÈs have concluded that there is a reasonable expectation that the charity ha5 adequate resourc£5 to corFtinue in opèrational existence for the f¢reseèable future. The charity therefore continues to adopt the going concern basis in preparin8 Its flnancial statements. Income All income is included 8ross in the Statement of Financial Activities on the following bases.. Le8acies are intluded when they become receivable. A legary is regarded as receivable when it ha5 been received or if it become5 probable that the le8acy will be received and that the value of the incomln8 resources can be measured reliably. Donat10115. gift aid, covenants and grants a￿ included when they be¢ome receivable. Income Tax claims a￿ included as recoverable. Bank interest and investment income a￿ included when they become due. le) Empendlture Expenditure 15 included in the Statement of Financial Activities as soon as it Is Sncurred. Governance costs comprise the annual accountancy charges as well as the costs of running the charlty i.e. Trustee meeting lfj Tanglble flxed a55ets Purchases of equipment are written-off In the Statement of Finanoal Activitie5 in the year of pvrchase. Taxatlon The charity is considered to pass the tests set out In Sch. 6, para. l of the Finance Act 2010 and therefore it meets the definition of a charity for UK income tax purposes. Accordin8ly. the charity is potentially exempt from taxation in respect of income ¢x capital gains Teceived within cate8orSes covered by Income Tax Act 21X)7. Part 10 $521 $537 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or 84ins are applied exclusively to charitable purposes

LINCOLN CATHEDRAL MUSIC FUND Notes to the Financial Statements for the year ended 31 March 2022 ACCOUNTING POLICIES IContiNuedl (hl Investments These are investments held in the UK and are included in the balance Sheet at market value (Note 61, with re31ised and unreali5ed gains and losses included in the Statement of Financial Activities. Dqbtors Trade and other debtors are reco8nised at the settlement amount. Prepayments are valued at the amount prepaid. 111 Cash at bank and In h•d Cash at bank and in hand includes cash and 5hort-tiwnE highly liquid investrnents. {k) Credltors Credit¢X5 are reco8nised when there is an obligation at the balance sheet date as a result of a past event, St Is probable that a trdnsfer of ecanornic benefit will be required in settlement. and the amount of the settlement Can be estlmate reliably. Fund A¢countln8 Unrestricted funds are those given to further the charitvs purposes, applied at the discretion of the trustees. Restricted and endowment funds are subject to re5trirtions placed by the donor for specific projects or actlvltles. (m) Financial Instrumènts A finanoal asset or a flnanclal Ilabllity Is reco8nised only when the charitable entity becornes a party to the contTrctual provi519ns of the instruments. Baslc financlal instruments are initially reco8nised at the amount receivable or payable Sncluding any transattion costs. In) Crltkal accountlng estymates and areas around Judgemenl The charity makes esilmates and assumptlons Con￿rning the futufft. The resulting accounting e5tirnates and a55umptions will. by definltion, seldom equal the re13ted actual results. There are no estimate5 and assumptions that have a significant risk of tausing a material adjustment to the carrying amounts of assets and liabilities wSthln the nextfinandal year.

LINCOLN CATHEDRAL MUSIC FUND NOTE5 TO THE FINANCIAL STATeMeNrJ YEAR ENDED 31 MARCH 2022 UrKestric FurK18 Endowment Funds 2022 Reslri¢teJ FurKIs 2022 Tot81 Funds 2022 Totsl FuTrJs 2021 I LEGACIES.. 2022 s t)odd-Shepp8rd E M Horsewood C Lane G Leach T Pyatt E Walk J Ward C Willkgms 13271 10.OTrJ 117501 72.522 12.000 3.000 13 87,535 72,522 12,000 3,000 13 87,535 55,928 QX the £55,928 rKeN¢d fef thè y•af onded 31 Mar¢h 2021 £5,928 relatsd to unrestricted lun( and £S0,orJo to 8TrJcwrrnnt fuTrJ$. Unreskn¢W EMo4mont Funds Funds 2022 2022 Restricted Funds 2022 Total Funds 2022 Tol81 Funds 2021 3. GRANTS RECEIVABLE.. The As$ctAtbn of Frfends of Llno)In Cath￿ra1 The Kochan Tru8l M P Cocyer Charitsble Trus1 10,000 1.000 10,000 1.000 1.DJO 15.000 20,500 qi.000 11,000 Ofthe £20,5CK) grants r8coivod in 2021. e4,5CK) rdated lo unr8Strict8d funds, £nil to enthvmentfuTh1s aTrJ £16,orKJ 10 restricted fund$. io

LINCOLN CATHEDRAL MUSIC FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 2022 2021 Net Ngt Outgoing Contrlbutlon Contrlbuti¢)n EVENTS INCOME AND EXPENDITURE Incoming Bridge Master Class Ceremony of Carols Play the Organ Concerts and SeThices 5,595 5,168 250 4,125 15.138 188 1,541 1,554 125 1,678 4,898 4,054 3,614 125 2,447 10,240 188 2021 totals Events income and @xpendilure is all to Unrestr￿ted funds in both years. Total Funds 2022 Total Funds 2021 S. EXPENDITURE Charitable Actlvltl Evants Event Expenditure Investment Management Fees Chapter Contribution Choral Scholar Contribution Chorister Contribution Sundry Expenses Governance: Trustee Me&tings I￿ependellt Examlnerfs Fees 230 4.951 70.095 24.658 14.323 221 4.898 5.128 4.951 70,095 24,658 14.323 221 4,761 48,853 5,830 21.521 124 140 140 2,576 117,162 4,898 122.060 83,665 Charged to Unrestricted Funds Charged to Restricted Funds 78.181 38,981 4,898 83,079 38.981 70,986 12,679 117.162 83,665 4.898 122,060 83,665 83,665 2021 lolals No employee earned morg than £60,CQO per annum (2021.. £nill. There are no salary costs forthe year. No remuneration has been paid to any of the charills trustees12021." £nil- 01. Expenses of £1,653 were due lo on8 trusl8e during the year12021: £nill these related io reimbursed event costs. The Chapler contribution is a donation to the Lincoln Cathedral General Fund to help towards the cost of music al Lincoln Calhedral in line with the polKy outlined on page 2 of these ac&)unts. li

LINCOLN CATHEDRAL MUSIC FUND NOTES TOTHE FINANCIAL STATEMENTS YEAR ENDEO 31 MARCH 2022 INVESTMENTS 2022 2021 Martet value as at 1 A￿1 Add￿On5 at cost Dk5tV581 proC￿j5 Net gainlllossl on revaluation in the year Market valua as at 31 March 2.151.340 919,508 16X4741 177,715 2.550.089 1,856,968 14,8751 299.247 2,151,340 Hl4torl¢al ¢ost at 31 March 1,820,248 1.599.214 Th• Inv•stm•ni ¢ompv1s￿.' 2022 2021 No. Shares 2022 2021 Ch•riti48 Ptoporty Fund & G SOGuriti0S Charifu Global DNideThl Income Unit- pp Cazentsve Invesknn•nt Fund Eouty Inrx)me Trust for Ch8rities- Unit CI8S8 S Fidelity Global DNldend Fund Closs W In￿me Units Trn Ethl¢al In¢omg Fund Class S Units S¢hr¢)dei As58￿ I￿•m& Fynd Class S Unlts Atlas Global Inlro$tTudure Fund B- Unfdged SUTL Cazenove Chorlty Responsible Mulli-Asset Fund Capltal kcount 239,332 239,332 345.068 297,154 8.200 199,894 24,875 320.770 129,535 259,602 366,262 363,112 244,421 493.045 129.423 229,365 124,518 115,249 125385 240.171 63.000 91.950 77,587 108,877 135,155 135.155 11&210 118,152 367 339 SI,904 39,848 2.218,323 670.091 1,261.531 51.914 361,581 26.812 Math•t valu• as at 31 March 2.550 089 2,151,340 Al the fixed asset investmènts 81è in the UK. Total Funds 2022 Tot Funds 2021 7. DEBTORS Trade debtors Lega¢ies re¢eiv8Ue Gift Aid Owidend incorne 15.000 2,005 21AS2 38A57 50.000 2,413 1e,588 69,021 Total Funds 2D21 Funds 2022 8. CRED￿oRs Trade creditors Due to Llrwln C81hedral Ac¢yu8ls Deferred In(L)me 1,541 17.951 3,357 625 23,974 12,146 3.$89 625 16.360 12

UNCOLN CATHEDRAL MUSIC FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 MOVEMENT ON FUNDS Balance at Balance at 01-Aw-21 Incomlng Outgolng Gainsll105$es) 31-Mar-22 Current year Rostrfctod Funds Organ maintenance Chorislerships Choral Schdarships Totsl R8strict8d Funds 1,000 1,000 14,323 (14,323} 23,016 11,250 24,658 24,016 25,573 38.9811 9,608 10.608 Endowment Fund5 Choristerships 211,250 7.250 39,386 257.886 Total Endov4m•nt Funds 211.250 7,250 39,386 257.886 Unrestrlcted Funds Ge￿ra1 Fund 2,184.702 215,892 83.079 138,329 2,455,844 TOTAL FUNDS 2,419,968 248,715 122,060 177.715 2,724,338 Balance al Balan¢e at 01-Apr-20 Incoming Outgoing Gainsl{losses} 31-Mar-21 Prlor y•ar Rgs¢rlGtsd Funds Organ maintenance Chorist8rships Choral Schdarships Totsl Restricted Fund8 1,000 1,000 6,845 28,850 35.695 16,845) 5,834 12,679 23,016 24.016 1.000 Endowment Funds Chorislerships 155,OOQ 56.250 211,250 Total Endowment Funds 155,000 56,250 211,250 Unrestrl¢t•d Funds Gèneral Fund 1.849,608 106.833 70,986 299,247 2,184.702 TOTAL FUNDS 2.005,608 198,778 83,665 299,247 2,419.968 RESTRICTED FUNDS Organ Malntenan￿- relates lo leg&y money received speGifiGalty to support organland or orgar pipe maintenance. Chorislerships - relates lo mon￿$ spècifically granted to support chorislerships. Choral Scholarships- relates lo monies specbfieally granted lo support choral scholars. 13

UNCOLN CATHEDRAL MUSIC FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 m￿￿cH 2022 10. NEf ASSEfs BETWEEN FUNDS Llnr*stri¢t•d Endowmgnt Restricted T¢)to1 Funds Funds Fund8 Funds Currgnt ye•r Investments Debtor5 ash at bank Creditors 2,349.453 23,457 106,908 {23,9741 2,455,844 200,636 15,(￿0 42,250 2,550,089 38,457 10,608 159.766 23,974 10.608 2.724.338 257.886 Unr•strict•d Errtlowment RestrlGtod Fund$ Funds Funds Total Funds Prlor ygar Investments Debtors C£sh al bank Creditors 1,990.090 19.021 191.951 16.360 2 184,702 161,250 50.CK)Q 2,151,340 69,021 24.016 215,967 16,360 24,016 2.419.968 211.250 11 RELATED PARTY TRANSACTIONS The followng contributions were made lo The Cathedral Church of the Blessed Virgin Mary of Lincoln I'Lincoln Cathedral'l dvring the financial period in support of the Trust's objectives: 2022 2021 Chapter Contribution Choral Scholar Contribution Chorister Contribution 70.095 24,658 14,323 48,853 5.830 21,521 The follovlng balances existed a5 01 the and.. 2022 2021 Oue lo Lincoln Cathedral 17.951 12,146 No further related paty Iransaclrons look place. 12. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY The ultimate parent undertaking and controlling paty is The Cathedral Church of the Blessed Viryin Mary of Lincoln. Copies of the group financial slalements are available from the Chapter Office, 4 Prtory Gale. Lincoln, LN2 1PL. 14

Music Fund Accounts 31 Mar 22 - signed by BHP

Final Audit Report

2022-12-14

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"Music Fund Accounts 31 Mar 22 - signed by BHP" History

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