## |Contents|ofthe Financial Statements|ofthe Financial Statements|| |---|---|---|---| ||||Page| ||Chair and Chief Executive's Reports||1to4| ||Report ofthe Trustees||5 to 15| ||Report ofthe Independent
Auditors||16to 18| ||Statement ofFinancial|Activities|19| ||Balance sheet||20| ||Cash Flow Statement||21| ||Notes to the Cash Flow Statement||22| ||Notes to the Financial|Statements|23 to 32| ||Detailed Statement of|Financial Activities|33 to 34| ## ## ## ## ## |||||Unrestricted|Restricted
Choral|Restricted
Fabric|Restricted
Education|Total 2021
f|Tora/2820
6|Tora/2820
6| |---|---|---|---|---|---|---|---|---|---|---| |Income||||||||||| |Legacies||||8,241|1,000|||9,241||| |||||22,nnn|20,024||||42.024|| |Annual|donations|||84,260|24,450|1,099|15,443|125,252||| |||||/86, 265|72,795|35,125|//, 360||305.545|| |Covid|Grants|||86,450||||86,450||| |||||20,706|||||20,|706| |Events||||||||||| |||||696||||||696| |General grants||||29,250|77,700|86,304||193,254||| |||||5,033|69,5nn|574,19n|||648,|723| |Investment||Income||157,600
136482|30,470
30.695|||188,070|/6.|177| |Other|income|||4,161||||4,161||| |Total|Income|||369,962|133,620|87,403|15,443|606,428||| |||||371,182|196,814|686,31$|11,368||1,184,87/|| |~E*|))|||||||||| |Grants|to|Chapter||60,000|174,000|134,632|12,000|380,632||| |||||/n2 n(/n|/89, /28|674, /91/|U,nnn||977,3/8|| |Administrative|||costs|141,769|2,026|||143,795||| |||||/42 6'49|2.09/||||144.740|| |Total|expenditure|||201,769|176,026|134,632|12,000|524,428||| |||||244,649|191,219|674,190|12,888||1,122,0$8|| |~Ca ital||||||||||| |Legacies||received|||40,017|||40,017||| |||||816,571|/ I,enn|||||| ||||||||||828,371|| |Unrealised||gains/(losses)||429,592|69,099|||498,691||| |||||/n4. 406|33.439||||137,845|| |Fund transfers||||||||||| |||||/6/n/|||64n|||| |Total|capital movement|||429,592|109,116|||538,708||| |||||920,337|4$,239||648||966,216|| |Fund|transfers|||||||||| |Total|Movement|||~637 802|~66710|~47229|3~443|~620 709||| |||||1846878|4~7834|~3$12$|~648||~129|829| |Net asset||value|at l Jan|||||5)282)964|4,253.935|| |Net asset||value|at l Dec|||||5,903,673|5.282|964| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||Unrestricted|Restricted|2021|2020| |---|---|---|---|---|---|---|---|---|---| |||||||Funds|Funds|Total Funds|Total Funds| ||||||Notes|f|f||| |INCOME AND ENDOWMENTS||||FROM|||||| |Donations k legacies|||||2|208,201|246,013|454,214|1,824,663| |Other trading
activities|||||3|4,161||4,161|21,402| |Investment
income|||||4|157,600|30,470|188,070|167,177| |Total||||||369,962|276,483|646,445|2,013,242| |EXPENDITURE|ON||||||||| |Raising funds||||||65,097|2,026|67,123|46,926| |Charitable
activities|||||||||| |Grantmaking||||||136,672|320,632|457,304|1,075,132| |Total||||||201,769|322,658|524,427|1,122,058| |Net income before|investment||movements|||168,193|(46,175)|122,018|891,184| |Unrealised
gains on investments|||||14|429,592|69,099|498,691|137,845| |NET INCOME||||||597,785|22,924|620,709|1,029,029| |Transfers between|funds||||17||||| |Net movement
in|funds|||||597,785|22,924|620,709|1,029,029| |RECONCILIATION||OF FUNDS|||||||| |Total funds brought|forward|||||4,530,909|752,055|5,282,964|4,253,935| |TOTAL FUNDS CARRIED FORWARD||||||5,128,694|774,979|5,903,673|5,282,964| ## ## ## ||||Unrestricted|Restricted|2021|2020| |---|---|---|---|---|---|---| ||||Funds|Funds|Total Funds|Total Funds| |||Notes||||| |FIXEDASSETS||||||| |Tangible assets||13||||| |Investments||14|4,853,129|687,881|5,541,010|4,303,751| ||||4,853,129|687,881|5,541,010|4,303,751| |CURRENT ASSETS||||||| |Debtors||15|58,690||58,690|788,029| |Cash at bank and in hand|||248,655|87,098|335,753|363,710| ||||307,345|87,098|394,443|1,151,739| |CREDITORS||||||| |Amounts
falling due within|one year|16|(31,780)||(31,780)|(172,526)| |NET CURRENT ASSETS|||275,565|87,098|362,663|979,213| |NET ASSETS|||5,128,694|774,979|5,903,673|5,282,964| |FUNDS||||||| |Unrestricted
funds||17|5,128,694||5,128,694|4,530,909| |Restricted
funds||||774,979|774,979|752,055| |NET ASSETS|||5,128,694|774,979|5,903,673|5,282,964| ## ## ## ||||||||2021|2020| |---|---|---|---|---|---|---|---|---| |||||||Notes|f|| |Cash flows from operating||activities:||||||| |Cash generated
from operations|||||||522,541|64,160| |Net cash provided
by operating|||activities||||522,541|64,160| |Cash flows from investing||activities:||||||| |Purchase offixed asset investments|||||||(3,675,277)|(68,523)| |Sale offixed asset investments|||||||2,865,823|| |Movement
on cash held in||investments|||||70,886|8,098| |Interest received|||||||818|216| |Dividends
received|||||||187,252|166,961| |Net cash used in investing||activities|||||(550,498)|106,752| |Change
in cash and cash|equivalents|||in the reporting||||| |period|||||||(27,957)|170,912| |Cash and cash equivalents||atthe|beginning ofthe||reporting|||| |period|||||||363,710|192,798| |Cash and cash equivalents|at the end of|||the reporting|period||335,753|363,710| ## ## ## |||||2021|2020| |---|---|---|---|---|---| |||||f|f| |Net income for the|reporting|period (as per the statement offinancial||620,709|1,029,029| |activities)|||||| |Adjustments
for:|||||| |Depreciation
charges|||||| |Gains on investments||||(498,691)|(137,845)| |Interest received||||(818)|(216)| |Dividends
received||||(187,252)|(166,961)| |Decrease/(increase)|in debtors|||729,339|(703,255)| |(Decrease)/increase|in creditors|||(140,746)|43,408| |Net cash provided|by operating||activities|522,541|64,160| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |DONATION
AND LEGACIES||| |---|---|---| ||31.12.21|31.12.20| ||f|| |Grants from Trusts l Foundations|279,704|579,223| |Donations|108,224|347,430| |Gilt Aid|17,026|27,615| |Legacies|49,260|870,395| ||454,214|1,824,663| ## |3,|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|OTHER TRADING ACTIVITIES|||||| |---|---|---|---|---|---|---|---|---|---| |||||||||31.12.21|31.12.20| ||||||||||f.| ||Events||||||||11,352| ||Eastern Cloister project||management||charge (Chapter)||||10,050| ||Expenses recoverable|||||||4,161|| |||||||||4,161|21,402| |4.|INVESTMENT|INCOME|||||||| |||||||||31.12.21|31.12.20| |||||||||f,|| ||Dividend
income|||||||187,252|166,961| ||Interest receivable|||||||818|216| |||||||||188,070|167,177| |5.|RAISING FUNDS||||||||| |||||||||31.12.21|31.12.20| ||Direct fundraising|expenses||||||14,556|746| ||Promotional
material|||||||3,443|4,292| ||Payroll costs|||||||20,603|15,490| ||Support costs apportioned|||||||17,751|14,888| ||Sub-total-costs of|generating||voluntary|income|||56,353|35,416| ||Investment
management||costs|||||10,770|11,510| ||Total costofraising funds|||||||67,123|46,926| |6.|CHARITABLE ACTIVITIES - 2021||||||||| ||||||Direct|costs|Grant funding|Support costs|Totals| ||||||||ofactivities|(See note 8)|| |||||||g|(Seenote 7)|f|6| ||Grant making||||13,736||380,632|62,936|457,304| ## ## |6.|CHARITABLE|ACTIVITIES —2020|ACTIVITIES —2020|ACTIVITIES —2020|||| |---|---|---|---|---|---|---|---| |||||Direct costs|Grant funding|Support costs|Totals| ||||||ofactivities|(See note 8)|| ||||||(Seenote 7)
f.||f| ||Grant making|||45,137|977,318|52,677|1,075,132| |7,|GRANTS PAYABLE||||||| |||||||31.12.21|31.12.20| |||||||f|| ||Grants and donations|||||380,632|977,318| ||The total funds paid||to Chapter during the year were as follows:|||31.12.21|31.12.20| ||Fabric||||||| ||Eastern Cloister|Project contributions||||89,632|674,190| ||Deanery and canonical
properties|||||45,000|| ||Booth Porch Chapel||project||||1,875| ||Font project||||||14,160| ||Recovery ofVAT from 20l7-18||||||93| |||||||134,632|690,318| ||Choral IMusic||||||| ||Choral Foundation||grants|||174,000|168,000| ||St Matthew
Passion||||||5,000| |||||||174,000|173,000| ||Education||||||| ||Education
grant|||||12,000|12,000| ||Other||||||| ||General Chapter|running||costs||60,000|102,000| |||||||380,632|977,318| ## ## ## ## |||Fundraising|Grantmaking|Totals| |---|---|---|---|---| |||6||| |Support and governance|costs|17,751|62,936|80,687| |SUPPORT COSTS - 2020||||| |||Fundraising|Grantmakingf|Totals| |Support and governance|costs|14,888|52,677|67,565| |NET INCOME||||| |Net income is stated after charging||||| ||||31.12.21|31.12.20| |||||f| |Auditors'
remuneration|(net ofVAT)|||| ||for audit current year||11,800|5,300| ||prior year under accrual|||2,000| ||non-audit||7,500|2,750| ## ## |||31.12.21|31.12.20| |---|---|---|---| |||f.|| |Wages|and salaries|59,800|83,430| |Social|security costs|2,908|5,050| |Other|pension costs|5,968|7,857| |||68,676|96,337| |31.12.21|31.12.20| |---|---| |1|2| ## ## |12.|COMPARATIVES F|O|RTHE|STATEMENT OF F|INANCIAL ACTIVITI|ES|| |---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|2020| ||||||Funds
8|Funds
f|Total Funds
f| ||INCOME AND ENDOWMENTS||||||| ||FROM||||||| ||Donations & legacies||||1,040,266|784,397|1,824,663| ||Other trading activities||||11,005|10,397|21,402| ||Investment
income||||136,482|30,695|167,177| ||||||1,187,753|825,489|2,013,242| ||Total||||||| ||EXPENDITURE ON||||44,835|2,091|46,926| ||Raising funds||||||| ||Charitable
activities||||199,814|875,318|1,075,132| ||Grants and Donations||||||| ||||||244,649|877,409|1,122,058| ||Total||||||| ||||||943,104|(51,920)|891,184| ||Net income before investment|||movements|||| ||||||104,406|33,439|137,845| ||Net gains on investments||||||| ||||||1,047,510|(18,481)|1,029,029| ||NET INCOME/(EXPENDITURE)||||||| ||Transfers
between|funds|||(640)|640|| ||Net movement
in funds||||1,046,870|(17,841)|1,029,029| ||RECONCILIATION||OF FUNDS||||| ||Total funds brought||forward||3,484,039|769,896|4,253,935| ||TOTAL FUNDS CARRIED|||FORWARD|4,530,909|752,055|5,282,964| |13.|TANGIBLE FIXEDASSETS||||||| ||||||||Fixtures and| ||||||||fittings| ||COST||||||| ||At
1 January 2021 and|31 December 2021|||||20,580| ||DEPRECIATION||||||| ||At
1 January 2021||||||20,580| ||Charge for the year||||||| ||31 December 2021||||||20,580| ||NET BOOK VALUE||||||| ||At 31 December 2021||||||| ||At 31December 2020||||||| ## ## ## |||||||Cash and|| |---|---|---|---|---|---|---|---| ||||||Listed|settlements|| ||||||investments|pending|Totals| ||||||6|f,|8| |MARKET VALUE|||||||| |At
1 January|2021||||4,232,865|70,886|4,303,751| |Additions|||||3,675,277||3,675,277| |Disposals|||||(2,865,823)|(70,886)|(2,936,709)| |Gains on investments|||||498,691||498,691| |At 31December 2021|||||5,541,010||5,541,010| |There were no investment|||assets outside the UK.||||| |Represented|by:||||||| |||||||31.12.21|31.12.20| |Cash|||||||70,886| |Cazenove
Charity Multi-Asset||||Fund|||2,846,062| |Cazenove Responsible||Multi-Asset|||Fund|5,541,010|1,386,803| |||||||5,541,010|4,303,751| |Historic cost|ofinvestments|||||3,200,748|2,462,182| |DEBTORS:|AMOUNTS||FALLING DUE WITHIN ONK YEAR||||| |||||||31.12.21|31.12.20| |||||||6|| |Accrued income||||||53,466|775,999| |Prepayments||||||3,655|3,655| |Other debtors||||||1,569|8,375| |||||||58,690|788,029| ## ## ## |||||||31.12.21|31.12.20| |---|---|---|---|---|---|---|---| |Trade creditors||||||13,079|724| |Accruals and deferred||income||||18,701|171,802| |||||||31,780|172,526| |MOVEMENT|IN FUNDS - 2021||||||| ||||||Net||| ||||||movement|Transfers|| |||||At 1.1.21|in funds|between|At31.12.21| |||||||funds|| |Unrestricted
funds|||||||| |Long term investment||||3,507,965||1,345,164|4,853,129| |Working
capital||||1,022,944|597,785|(1,345,164)|275,565| |||||4,530,909|597,785||5,128,694| |Restricted funds|||||||| |Education
Fund|||||3,443||3,443| |Fabric Fund||||49,657|(47,229)||2,428| |Choral Funds||||621,171|66,710||687,881| |Eastern Cloister|Delivery||Fund||||| |Font Project||||81,227|||81,227| |||||752,055|22,924||774,979| |TOTAL FUNDS||||5,282,964|620,709||5,903,673| |Net movement|in funds,||included|in the above are as follows:|||| |||||Income|Expenditure|Gains and|Movement
in| |||||||lossesf|funds
6| |Unrestricted
funds|||||||| |General fund||||369,962|(201,769)|429,592|597,785| |Restricted funds|||||||| |Education
Fund||||15,443|(12,000)||3,443| |Fabric Fund||||1,099|(48,328)||(47,229)| |Choral Funds||||173,637|(176,026)|69,099|66,710| |Eastern Cloister|Delivery||Fund|86,304|(86,304)||| |Font Project Fund|||||||| |||||276,483|(322,658)|69,099|22,924| |TOTALFUNDS||||646,445|(524,427)|498,691|620,709| ## ## ## |MOVEMENT|IN FUNDS (CONTIN|IN FUNDS (CONTIN|IN FUNDS (CONTIN|UED) —2021|||| |---|---|---|---|---|---|---|---| |The comparative|figures for movement|||in funds are as follows:|||| ||||||Net||| ||||||movement|Transfers|| |||||At 1.1.20|in funds|between|At31.12.20| |||||||funds|| |Unrestricted
funds|||||||| |Long term investment||||3,394,787||113,178|3,507,965| |Working capital||||89,252|1,047,510|(113,818)|1,022,944| |||||3,484,039|1,047,510||4,530,909| |Restricted funds|||||||| |Education
Fund|||||(640)|640|| |Fabric Fund||||145,548|111|(96,002)|49,657| |Choral Funds||||569,809|51,362||621,171| |Eastern Cloister|Delivery|Fund|||(83,502)|83,502|| |Font Project||||54,539|14,188|12,500|81,227| |||||769,896|(18,481)|640|752,055| |TOTAL FUNDS||||4,253,935|1,029,029||5,282,964| |Net movement|in funds,|included|in the|above are as follows:|||| |Unrestricted
funds|||||||| |General
fund||||1,187,753|(244,649)|104,406|1,047,510| |Restricted funds|||||||| |Education
Fund||||11,360|(12,000)||(640)| |Fabric Fund||||2,079|(1,968)||111| |Choral Funds||||193,014|(175,091)|33,439|51,362| |Eastern
Cloister|Delivery|Fund||590,688|(674,190)||(83,502)| |Font Project Fund||||14,188|||14,188| |Architectural
Heritage||||14,160|(14,160)||| |||||825,489|(877,409)|33,439|(18,481)| |TOTAL FUNDS||||2,013,242|(1,122,058)|137,845|1,029,029| ## ## ## ## ## ## ## ## ## ## ## ## ## ||||31.12.21|31.12.20| |---|---|---|---|---| |INCOME AND ENDOWMENTS||||| |Donations
and legacies||||| |Grants|||279,704|579,223| |Donations|||108,224|347,430| |Gift Aid|||17,026|27,615| |Legacies|||49,260|870,395| |Total incoming
resources|||454,214|1,824,663| |Other trading activities||||| |Events||||11,352| |Income from Chapter (project management||charge)||10,050| |Expenses recoverable|||4,161|| ||||4,161|21,402| |Investment
Income||||| |Dividend
income —(Cazenove)|||187,252|166,948| |Interest receivable|||818|229| ||||188,070|167,177| |Total income|||646,445|2,013,242| |EXPENDITURE||||| |Fund raising||||| |Direct fundraising
expenses|||14,556|746| |Promotional
materials|||3,443|4,292| |Payroll and related costs|||20,603|15,490| |Apportionment
ofsupport costs|||17,751|14,888| ||||56,353|35,416| |Investment
management|costs|||| |Portfolio management|||10,770|11,510| |Charitable
activities||||| |Staffcosts|||13,736|45,137| |Apportionment
ofsupport costs|||62,936|52,677| ||||76,672|97,814| ## ## ## |||||||||||31.12.21|31.12.20| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||f| |Support costs and governance||||costs|||||||| |Staffcosts||||||||||34,337|35,710| |Auditors'
remuneration|(including||||VAT)|||||14,160|8,760| |Auditors'
remuneration|for||non-audit|||work (including|||VAT)|9,000|3,300| |Accountancy||||||||||4,420|60| |Legal fees||||||||||2,400|| |Other professional
fees||||||||||7,825|2,038| |Computer
and sottware|costs|||||||||5,427|2,945| |Postage and stationery||||||||||601|10,021| |Insurance||||||||||1,445|1,448| |Other overhead||||||||||1,072|3,283| |Allocation to fundraising||ofcharitable|||||activities|||(80,687)|(67,565)| |Total expenditure||||||||||143,795|144,740| |Net income before grants|||to Chapter|||||||502,650|1,868,502| |Grants to Chapter (see note|||A)|||||||(380,632)|(977,318)| |Net income/(expenditure)|||excluding||||investment|gains||122,018|891,184| |NOTE A|||||||||||| |The total grants|paid to|||Chapter|||during the|year|were as follows:||| |||||||||||31.12.21|31.12.20| |||||||||||f|f| |Fabric|||||||||||| |Eastern Range/Cloister||||Project|||contributions|||89,632|674,190| |Deanery and canonical||||properties||||||45,000|| |Porch Chapel project|||||||||||1,875| |Font project|||||||||||14,160| |Recovery ofVAT||from||2017-18|||||||93| |||||||||||134,632|690,318| |Choral / Music|||||||||||| |Choral Foundation|||grants|||||||174,000|168,000| |St Matthew
Passion|||||||||||5,000| |||||||||||174,000|173,000| |Educati on|||||||||||| |Education
grant||||||||||12,000|12,000| |Other|||||||||||| |General Chapter|running||||costs|||||60,000|102,000| |||||||||||380,632|977,318|