| Charity Registration | Charity Registration | No: | 1056374 | ||||
|---|---|---|---|---|---|---|---|
| Address: | Marlborough | House | |||||
| Victoria Road | South | ||||||
| Chelmsford | |||||||
| Essex | |||||||
| CMI ILN | |||||||
| Governing | Instrument: | The trust is established | by aTrust Deed dated 31 May 1996 | ||||
| Investment | Powers: | There are no restrictions | on | the powers ofinvestments. | |||
| Trustees: | Alan Williams, | Bishop | ofBrentwood | ||||
| Gerald Vincent | Bodenham | Thompson, DL | |||||
| Philip John Tolhurst- | Chair | ||||||
| Simon Andrew | Dalton | Hall, | MBE,DL | ||||
| Rt.Rev Mgr David Manson | |||||||
| Marianne O' Sullivan | |||||||
| Christopher Hunter Gordon |
|||||||
| RtRev Martin | Boland | ||||||
| Solicitors: | Tolhurst Fisher | ||||||
| Marlborough House |
|||||||
| Victoria Road South | |||||||
| Chelmsford | |||||||
| Essex | |||||||
| CM1 ILN | |||||||
| Bankers: | HSBC | ||||||
| 91 High Street | |||||||
| Brentwood | |||||||
| Essex | |||||||
| CM14 4RU | |||||||
| Independent | Examiner | David Sewell | |||||
| Haysmacintyre LLP |
|||||||
| 10Queen Street | Place | ||||||
| London | |||||||
| EC4R 1AG |
| Permanent | ||||||||
|---|---|---|---|---|---|---|---|---|
| Endowment | Restricted | Unrestricted | 2020 | 2019 | ||||
| Fund | Funds | Funds | Total | Total | ||||
| Notes | ||||||||
| INCOME FROM: | ||||||||
| Investment income Legacies and donations |
received | 5,309 | 45,644 2,519 |
50,953 2,519 |
67,545 | |||
| Total income | 5,309 | 48,163 | 53,472 | 67,545 | ||||
| EXPENDITURE ON: | ||||||||
| Cost ofraising funds | ||||||||
| Investment management Charitable Activities: |
fees | 1,647 | 6,308 | 7,793 | 15,748 | 16,116 | ||
| Choral expenses: lay clerks and | ||||||||
| choir Music grants Cathedral and organ repairs Depreciation ofgrand piano Support costs |
27,977 1,000 8,047 |
27,977 1,000 8,047 |
29,707 4,400 10,122 1,000 8,001 |
|||||
| Total expenditure | 1,647 | 6,308 | 44,817 | 52,772 | 69,346 | |||
| (1,647) | (999) | 3,346 | 700 | (1,801) | ||||
| (Losses)/gains on investments |
(12,259) | (43,941) | (53,502) | (109,702) | 30,440 | |||
| Net income | (13,906) | (44,940) | (50,156) | (109,002) | 28,639 | |||
| Reconciliation offunds: | ||||||||
| Accumulated funds brought |
forward | 205,422 | 800,012 | 1,085,192 | 2,090,626 | 2,061,987 | ||
| Accumulated funds carried |
forward | 6,7&8 | E,191,516 | E755,072 | 1,035,036 | 1,981,624 | K2,090,626 |
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| TANGIBLE FIXED ASSETS | 23,000 | 24,000 | ||||
| INVESTMENTS | 1,838,338 | 1,963,788 | ||||
| CURRENT ASSETS | ||||||
| Debtors —accrued income k prepayments | 9,260 | 15,926 | ||||
| Cash - COIF Deposit -Cash atbank |
50,000 63,826 |
50,000 51,046 |
||||
| 123,086 | 116,972 | |||||
| CURRENT LIABILITIES | ||||||
| Creditor: Accrued expenses falling due within one year |
(2,800) | (14,134) | ||||
| Net Current Assets | 120,286 | 102,838 | ||||
| Total Assets | $1,981,624 | K2,090,626 | ||||
| FUNDS | ||||||
| Unrestricted Funds |
||||||
| Trust Fund Received Choral Fund Cathedral Fund |
859,612 42,809 46,104 |
913115 36,811 41,106 |
||||
| 948,525 | 991,032 | |||||
| Designated Funds |
86,511 | 94,160 | ||||
| 1,035,036 | I 085 192 | |||||
| Restricted Funds Permanent Endowment |
Fund | 755,072 191,516 |
800,012 205,422 |
|||
| SI,981,624 | 62,090,626 |
| TANGIBLE FIXEDASSETS | ||
|---|---|---|
| Grand | ||
| Piano | ||
| Cost: | ||
| Opening and closing cost |
||
| 26,000 | ||
| Depreciation: | ||
| At 1 October 2019 | ||
| Charge in year | 2,000 | |
| 1,000 | ||
| At 30September 2020 | ||
| 3,000 | ||
| Net book value: | ||
| 30September 2020 | ||
| E23,000 | ||
| 30 September 2019 | ||
| E24,000 | ||
| INVESTMKNTS | ||
| 2020 | 2019 | |
| Opening market value Additions |
1,963,788 | 1,949,464 |
| Disposals | ||
| Gains | (15,748) | (16,116) |
| (109,702) | 30,440 | |
| Closing market value | ||
| XI,838,338 | EI,963,788 |
| 3. | LOAN INRESPECTOFCATHEDRAL CHOIR SCHOOL | LOAN INRESPECTOFCATHEDRAL CHOIR SCHOOL | LOAN INRESPECTOFCATHEDRAL CHOIR SCHOOL | LOAN INRESPECTOFCATHEDRAL CHOIR SCHOOL | LOAN INRESPECTOFCATHEDRAL CHOIR SCHOOL | LOAN INRESPECTOFCATHEDRAL CHOIR SCHOOL | LOAN INRESPECTOFCATHEDRAL CHOIR SCHOOL |
|---|---|---|---|---|---|---|---|
| This loan to the diocese which is free ofinterest is repayable on achange ofuse ofthe Choir School (whether it is sold or not), and the repayment is inflation linked. The likelihood ofa change ofuse ofthe Choir School is considered to be remote, therefore the loan has a fair value ofENil. Ifthe loan had become repayable at 30September 2020, it would have had avalue of$282,783. |
|||||||
| 4. | INCOME FROM INVESTMKNTS | 2020 | 2019 | ||||
| Dividend income |
|||||||
| Bank and deposit interest | 50,953 | 67,545 | |||||
| f50,953 | K67,545 | ||||||
| 5. | SUPPORT COSTS | ||||||
| 2020 | 2019 | ||||||
| Support costs include: | |||||||
| Independent Examination fee |
|||||||
| Accounting fees |
E2,070 $5,856 |
$2,040 E5,856 |
| UNRESTRICTED FU | NDS | ||||
|---|---|---|---|---|---|
| Opening Balance |
Incoming Resources |
Outgoing Resources |
Gains/ Transfers |
Closing Balance |
|
| General Funds | 991,032 | 27,835 | (16,840) | (53,502) | 948,525 |
| Designated Funds: Bursary Fund |
94,160 | 20,328 | (27,977) | 86,511 | |
| S1,085,192 | f48,163 | E(44,817) | K(53,502) | $1,035,036 | |
| Unrestricted funds for |
the comparative year: |
||||
| Opening Balance |
Incoming Resources |
Outgoing Resources |
Gains/ Transfers |
Closing Balance |
|
| General Funds | 969,466 | 33,577 | (27,097) | 15,086 | 991,032 |
| Designated Funds: Bursary Fund |
101,334 | 26,933 | (34,107) | 94,160 | |
| K1,070,800 | f60,510 | K(61,204) | Q5,086 | K1,085,192 |
| The fund balances at the end ofthe | year is deri | ved from: | |||
|---|---|---|---|---|---|
| Trust | Choral | Cathedral | |||
| Fund | Fund | Fund | Total | ||
| Income Expenditure Gains on investments |
(53,502) | 13,918 (7,920) |
13,917 (8,920) |
27,835 (16,840) (53,502) |
|
| Net movement offunds | (53,502) | 5,998 | 4,997 | (42,507) | |
| Initial amount received on foundation ofthe charity Balances brought forward |
500,000 413,115 |
36,811 | 41,106 | 500,000 491,032 |
|
| Year end fund balance | K859,613 | Q2,809 | K46,103 | K948,525 | |
| General funds for the comparative | year: | ||||
| Income Expenditure Gains on investments |
15,086 | 16,789 (7,988) |
16,788 (19,109) |
33,577 (27,097) 15,086 |
|
| Net movement offunds | 15,086 | 8,801 | (2,321) | 21,566 | |
| Initial amount received on foundation ofthe charity Balances brought forward |
500,000 398,029 |
28,010 | 43,427 | 500,000 469,466 |
|
| Year end fund balance | f913,115 | f36,811 | f41,106 | K991,032 |
| RESTRICTED FUNDS | ||||
|---|---|---|---|---|
| Opening Balance |
Incoming Resources |
Outgoing Resources |
Gains/ Transfers |
Closing Balance |
| Elizabeth Atkins Hermione Lang Olga Rippon Harold Hood Mgr.Christopher Creede Ames Legacy Income Bishop ofBrentwood Friends ofCathedral Music Doris Blooman Nott Bursary Miss Eileen Keary Mgr David Donnelly 118,798 287,587 44,549 143,519 44,549 13,421 29,700 22,274 7,424 74,249 13,942 |
5,309 | (953) (2,306) (357) (1,151) (357) (238) (179) (60) (595) (112) |
(6,636) (16,065) (2,489) (8,017) (2,489) (1,659) (1,244) (415) (4,148) (779) |
111,209 269,216 41,703 134,351 41,703 18,730 27,803 20,851 6,949 69,506 13,051 |
| f800,012 | $5,309 | 6(6,308) | X(43,941) | E,755,072 |
| Restricted funds for the comparative year: |
||||
| Opening Balance |
Incoming Resources |
Outgoing Resources |
Gains/ Transfers |
Closing Balance |
| Elizabeth Atkins Hermione Lang Olga Rippon Harold Hood Mgr.Christopher Creede Ames Legacy Income Bishop ofBrentwood Friends ofCathedral Music Doris Blooman Nott Bursary Miss Eileen Keary Mgr David Donnelly 117,932 285,489 44,224 142,472 44,224 6,386 29,484 22,112 7,370 73,707 13,840 |
7,035 | (975) (2,360) (366) (1,178) (366) (244) (183) (61) (609) (114) |
1,841 4,458 691 2,225 691 460 345 115 1,151 216 |
118,798 287,587 44,549 143,519 44,549 13,421 29,700 22,274 7,424 74,249 13,942 |
| $787,240 | E7,035 | 6(6,456) | K12,193 | f800,012 |
| Opening | Incoming | Incoming | Outgoing | Investment | Closing | ||||
|---|---|---|---|---|---|---|---|---|---|
| Balance | Resources | Resources | Gains/(Losses) | Balance | |||||
| Ames Legacy Capital | K205,422 | K(1,647) | $(12,259) | $191,516 | |||||
| Permanent | endowment | fund for the comparative | year: | ||||||
| Opening | Incoming | Outgoing | Investment | Closing | |||||
| Balance | Resources | Resources | Gains/(Losses) | Balance | |||||
| Ames Legacy Capital | f203,947 | & | K(1,686) | $3,161 | f205,422 | ||||
| The income | earned | from the Ames | Legacy fund | is to be | used towards the |
structural maintenance of the |
|||
| Cathedral. The capital ofthe fund is | tobe maintained. | ||||||||
| ALLOCATION OF | NKT ASSETS | ||||||||
| Endowment | Restricted | General | Designated | Total | |||||
| Funds | Fund | Fund | Fund | ||||||
| Fixed assets | 23,000 | 23,000 | |||||||
| Investments | 191,516 | 755,072 | 891,750 | 1,838,338 | |||||
| Net Current | Assets | 33,775 | 86,511 | 120,286 | |||||
| $191,516 | f755,072 | K948,525 | f86,511 | f1,981,624 | |||||
| Allocation | ofnet assets | for comparative year: |
|||||||
| Fixed assets | 24,000 | 24,000 | |||||||
| Investments | 205,422 | 800,012 | 958,354 | 1,963,788 | |||||
| Net Current | Assets | 8,678 | 94,160 | 102,838 | |||||
| $205,422 | X800,012 | $991,032 | K94,160 | $2,090,626 |
| Permanent | ||||||
|---|---|---|---|---|---|---|
| Endowment | Restricted | Unrestricted | 2019 | |||
| Fund | Fund | General | Total | |||
| INCOME FROM: | ||||||
| Investment income Legacies and donations |
received | 7,035 | 60,510 | 67,545 | ||
| Total incoming resources | 7,035 | 60,510 | 67,545 | |||
| EXPENDITURE ON: | ||||||
| Cost ofraising funds | ||||||
| Investment management Charitable Activities: |
fees | 1,686 | 6,456 | 7,974 | 16,116 | |
| Choral expenses: lay | clerks and | |||||
| choir Music grants Cathedral and organ repairs Depreciation ofgrand piano Support costs |
29,707 4,400 10,122 1,000 8,001 |
29,707 4,400 10,122 1,000 8,001 |
||||
| Total expenditure | 1,686 | 6,456 | 61,204 | 69,346 | ||
| (1,686) | 579 | (694) | (1,801) | |||
| Gains on investments | 3,161 | 12,193 | 15,086 | 30,440 | ||
| Net income | 1,475 | 12,772 | 14,392 | 28,639 | ||
| Reconciliation offunds: | ||||||
| Accumulated funds brought |
forward | 203,947 | 787,240 | 1,070,800 | 2,061,987 | |
| Accumulated funds carried |
forward | f205,422 | f800,012 | S1,085,192 | K2,090,626 |