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$.
Unreskn¢W EMo4*mont
Funds
Funds
2022
2022
Restricted
Funds
2022
Total
Funds
2022
Tol81
Funds
2021
3. GRANTS RECEIVABLE..
The As$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
Tr*n Ethl¢al In¢omg Fund
Class S Units
S¢hr¢)dei As58￿ I￿•m& Fynd
Class S Unlts
Atlas Global Inlro$tTudure Fund
B- Unf*dged
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 

Created: 2022-12-14 By: Emily Jones (emily.jones@bhp.co.uk) Status: Signed Transaction ID: CBJCHBCAABAADk1gTicp5ZzuSvfmglM7QbdgqGAm9YyN 

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

## Document created by Emily Jones (emily.jones@bhp.co.uk) 

2022-12-14 - 4:18:49 PM GMT- IP address: 81.23.52.242 

Document emailed to Jane Marshall (jane.marshall@bhp.co.uk) for signature 

2022-12-14 - 4:19:34 PM GMT 

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2022-12-14 - 5:49:22 PM GMT- IP address: 161.123.227.207 

## Document e-signed by Jane Marshall (jane.marshall@bhp.co.uk) 

Signature Date: 2022-12-14 - 5:50:00 PM GMT - Time Source: server- IP address: 86.185.110.208 

## Agreement completed. 

2022-12-14 - 5:50:00 PM GMT