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|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|||||
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|||||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|
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||||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|
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|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|
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|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||
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|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|
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|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|
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|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|
|$787,240|E7,035|6(6,456)|K12,193|f800,012|
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|||||Opening|Incoming|Incoming|Outgoing|Investment|Closing|
|---|---|---|---|---|---|---|---|---|---|
|||||Balance|Resources||Resources|Gains/(Losses)|Balance|
|Ames Legacy Capital|||K205,422||||K(1,647)|$(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|
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||||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|