| SALISBURY CATHEDRAL CHORAL | SALISBURY CATHEDRAL CHORAL | FOUNDATION | ||
|---|---|---|---|---|
| REGISTERED CHARITY NUMBER 1058899 | ||||
| Trustee: | Salisbury Cathedral | |||
| Address: | 6 The Close, Salisbury, SP12EF |
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| Independent | Examiner: | James Fletcher | ||
| Crown Chambers, Bridge |
Street, Salisbury, | SP1 2LZ | ||
| Solicitors: | Parker Bullen | |||
| 45 Castle Street, Salisbury, | SP13SS | |||
| Bankers: | Lloyds Bank pic | |||
| 38Blue Boar Row, Salisbury, SP1 IDB |
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| Accountants: | Fletcher &Partners, Chartered Accountants |
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| Crown Chambers, Bridge |
Street, Salisbury, | SP1 2LZ |
| Unrestricted | Restricted | Endowment | Total | Total | ||||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2022 | 2021 | ||||
| Income and endowments | from: | |||||||
| Donations and legacies |
54,976 | 59,000 | 113,976 | 29,140 | ||||
| Fund-raising events |
42,730 | 42,730 | 827 | |||||
| Investment income |
2,435 | 16,441 | 18,876 | 18,182 | ||||
| Total income | 100,141 | 75,441 | 175,582 | 48,149 | ||||
| Expenditure on: |
||||||||
| Costs ofincome generation | ||||||||
| Fundraising costs |
18,138 | 18,138 | ||||||
| Management Fees |
947 | 6,391 | 7,338 | 5,971 | ||||
| 19,085 | 6,391 | 25,476 | 5,971 | |||||
| Charitable activities |
||||||||
| Scholarships and bursaries |
73,122 | 73,122 | 53,350 | |||||
| Choir Tour | ||||||||
| Chorister costs | 63,493 | 63,493 | 18,000 | |||||
| Independent examination |
fee | 440 | 440 | 440 | ||||
| 63,493 | 73,562 | 137,055 | 71,790 | |||||
| Total expenditure | 82,578 | 73,562 | 6,391 | 162,531 | 77,761 | |||
| Net income / (expenditure) | before gains and | |||||||
| losses on investments | 17,563 | 1,879 | (6,391) | 13,051 | (29,612) | |||
| NET GAINS/(LOSSES) ON INVESTMENTS | ||||||||
| Unrealised profits/( losses) |
on investments | 8,144 | 54,985 | 63,129 | 97,894 | |||
| Realised profits/(losses) on |
investments | |||||||
| Net income / (expenditure) |
25,707 | 1,879 | 48,594 | 76,180 | 68,282 | |||
| Transfers between funds |
||||||||
| Net movement in funds |
25,707 | 1,879 | 48,594 | 76,180 | 68,282 | |||
| Fund balances at 1April 2021 | 170,899 | 97,376 | 501,300 | 769,575 | 701,293 | |||
| Fund balances at 31March | 2022 | K196,606 | j99,255 | F549,894 | K845,755 | f769,575 |
| Note | 31stMarch | 2022 | 31stMarch | 2021 | ||
|---|---|---|---|---|---|---|
| FIXEDASSETS | ||||||
| Investments | 636,432 | 580,641 | ||||
| CURRENT ASSETS | ||||||
| Debtors | 42,472 | 33,043 | ||||
| Cash at bank | 168,021 | 191,088 | ||||
| 210,493 | 224,131 | |||||
| CREDITORS: Amounts | falling due | |||||
| within one year |
1,170 | 35,197 | ||||
| NET CURRENT ASSETS | 209,323 | 188,934 | ||||
| TOTAL NET ASSETS | 845,755 | 6769,575 | ||||
| Representing: | ||||||
| ENDOWMENT FUNDS |
||||||
| Scholarship and Bursary Fund capital |
532,841 | 485,753 | ||||
| Music Commissioning | Fund capital | 17,053 | 15,547 | |||
| 549,894 | 501,300 | |||||
| RESTRICTED FUNDS | ||||||
| Scholarship and Bursary Fund income |
79,127 | 77,758 | ||||
| Music Commissioning | Fund income | 15,864 | 15,354 | |||
| Choir Tours Fund | 4,264 | 4,264 | ||||
| 99,255 | 97,376 | |||||
| UNRESTRICTED FUNDS | ||||||
| General Fund | 196,606 | 170,899 | ||||
| 196,606 | 170,899 | |||||
| 845,755 | f769,575 |
| Scholarship | Music | ||||
|---|---|---|---|---|---|
| General | and Bursary | Commissioning | |||
| Fund | Fund | Fund | Total | ||
| Market value at I April 2021 | 74,903 | 490,061 | 15,677 | 580,641 | |
| Unrealised | gains in year | 8,144 | 53,281 | 1,704 | 63,129 |
| Increase in | cash held for investment | (947) | (6,193) | (198) | (7,338) |
| Market value at 31March 2022 | K82,100 | f,537,149 | K17,183 | f636,432 | |
| Cost at 31 | March 2022 | K48,150 | 8313,605 | f10,080 | 6371,835 |
| Cost at 31 | March 2021 | K48,150 | X313,605 | K10,080 | f371,835 |
| AS AT 31st | AS AT 31st | AS AT 31st | MA | RCH 2022 | |||||
|---|---|---|---|---|---|---|---|---|---|
| 4. | INVESTMENTS | (continued) | 31stMarch | 31stMarch | |||||
| 2022 | 2021 | ||||||||
| The investment portfolio was made up as follows: |
|||||||||
| CCLA | 636,432 | 580,641 | |||||||
| f636,432 | f580,641 | ||||||||
| COMPARATIVE | INVESTMENTS NOTE | Scholarship | Music | ||||||
| General | and Bursary | Commissioning | |||||||
| Fund | Fund | Fund | Total | ||||||
| Market value at I April 2020 | 63,287 | 412,183 | 13,248 | 488,718 | |||||
| Additions | |||||||||
| Disposal s | |||||||||
| Realised Gains | |||||||||
| Unrealised gains in year |
12,386 | 82,918 | 2,590 | 97,894 | |||||
| Increase in cash held for | investment | (770) | (5,040) | (161) | (5,971) | ||||
| Market value at 31March 2021 | f.74,903 | 6490,061 | K15,677 | F580,641 | |||||
| Cost | at 31March 2021 | K48,150 | K313,605 | f.10,080 | f371,835 | ||||
| Cost | at 31March 2020 | K48,150 | 6313,605 | 610,080 | K371,835 | ||||
| 5. | DEBTORS | ||||||||
| Salisbury Cathedral |
26,567 | 19,375 | |||||||
| Income tax recoverable | 11,055 | 8,903 | |||||||
| Sundry Debtors | 4,850 | 4,765 | |||||||
| f42,472 | f.33,043 | ||||||||
| 6. | CREDITORS: Amounts | falling due within | one | year | |||||
| Salisbury Cathedral |
|||||||||
| Salisbury Cathedral |
School | 34,067 | |||||||
| Salisbury Cathedral |
Girl choristers Fund | 730 | 730 | ||||||
| Accruals | 440 | 400 | |||||||
| f.1,170 | f.35,197 | ||||||||
| 7. | ENDOWMENT | FUNDS | |||||||
| Bursary and | Music | ||||||||
| Scholarship | Commissioning | ||||||||
| Fund | Fund | ||||||||
| Endowment | Endowment | Total | |||||||
| Balance at 1 April | 2021 | 485,753 | 15,547 | 501,300 | |||||
| Realised Gain | |||||||||
| Unrealised gains |
53,281 | 1,704 | 54,985 | ||||||
| Management fees |
(6,193) | (198) | (6,391) | ||||||
| Balance at 31March 2022 | 6532,841 | f17,053 | f549,894 | ||||||
| Represented by: |
|||||||||
| Investments | 532,841 | 17,053 | 549,894 | ||||||
| f532,841 | f17,053 | f549,894 |
| 7. | ENDOWM | E | NT FUNDS |
- COMPAR | ATIVE NOTE | |||
|---|---|---|---|---|---|---|---|---|
| Bursary and | Music | |||||||
| Scholarship | Commissioning | |||||||
| Fund | Fund | |||||||
| Endowment | Endowment | Total | ||||||
| Balance at | 1 April 2020 | 407,875 | 13,118 | 420,993 | ||||
| Realised Gain | ||||||||
| Unrealised | gains | 82,918 | 2,590 | 85,508 | ||||
| Management | fees | (5,040) | (161) | (5,201) | ||||
| Balance at 31 | March 2021 | K485,753 | f15,547 | f501,300 | ||||
| Represented | by: | |||||||
| Investments | 485,753 | 15,547 | 501,300 | |||||
| 6485,753 | K15,547 | 1501,300 | ||||||
| 8. | RESTRICTED FUNDS | |||||||
| Bursary and | Music | |||||||
| Scholarship | Commissioning | |||||||
| Fund | Fund | Choir Tours | ||||||
| Income | Income | Fund | Total | |||||
| Balance at 1April 2021 | 77,758 | 15,354 | 4,264 | 97,376 | ||||
| Income | 74,931 | 510 | 75,441 | |||||
| Transfer &om | unrestricted | funds | ||||||
| Expenditure | (73,562) | (73,562) | ||||||
| Balance at 31 | March 2022 | f79,127 | X15,864 | K4,264 | K99,255 |
| RESTRICTED FUNDS - | COMPARA | TIVE NOTE | |||
|---|---|---|---|---|---|
| Bursary and | Music | ||||
| Scholarship | Commissioning | ||||
| Fund | Fund | Choir Tours | |||
| Income | Income | Fund | Total | ||
| Balance at 1 April 2020 | 103,212 | 14,865 | 118,077 | ||
| Income | 28,336 | 489 | 245 | 29,070 | |
| Transfer from unrestricted | funds | 4,019 | 4,019 | ||
| Expenditure | (53,790) | (53,790) | |||
| Balance at 31March 2021 | K77,758 | f15,354 | f4,264 | f97,376 |
| Balance at | Gains/(losses) | Balance at | |||
|---|---|---|---|---|---|
| ~lrt A ril 2021 | Income | ~Ex enditure | and transfers | 31stMarch 2022 | |
| General fund | 170,899 | 100,141 | (82,578) | 8,144 | 196,606 |
| Total | K170,899 | X100,141 | (K82,578) | K8,144 | f196,606 |
| UNRESTRICTED | FUNDS - COMPARATIVE YEAR | ||||
| Balance at | Gains/(losses) | Balance at | |||
| ~let A ril 2020 | Income | ~Ex enditure | and transfers | 31stMarch 2021 | |
| General fund | 162,223 | 19,079 | (18,770) | 8,367 | 170,899 |
| Total | f162,223 | K19,079 | (K18,770) | K8,367 | $170,899 |
| Unrestricted | Restricted | Endowment | Total | |||||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2021 | |||||
| Income and endowments | from: | |||||||
| Donations and legacies |
16,140 | 13,000 | 29,140 | |||||
| Fund-raising events |
582 | 245 | 827 | |||||
| Investment income |
2,357 | 15,825 | 18,182 | |||||
| Total income | 19,079 | 29,070 | 48,149 | |||||
| Expenditure on: |
||||||||
| Costs ofincome generation | ||||||||
| Fundraising costs |
||||||||
| Management Fees |
770 | 5,201 | 5,971 | |||||
| 770 | 5,201 | 5,971 | ||||||
| Charitable activities |
||||||||
| Scholarships and bursaries |
53,350 | 53,350 | ||||||
| Choir Tour | ||||||||
| Music k Medal Purchase | 18,000 | 18,000 | ||||||
| Independent examination |
fee | 440 | 440 | |||||
| 18,000 | 53,790 | 71,790 | ||||||
| Total expenditure | 18,770 | 53,790 | 5,201 | 77,761 | ||||
| Net income / (expenditure) | before gains and | |||||||
| losses on investments | 309 | (24,720) | (5,201) | (29,612) | ||||
| NET GAINS/(LOSSES) ON INVESTMENTS | ||||||||
| Unrealised profits/( losses) |
on investments | 4 | 12,386 | 85,508 | 97,894 | |||
| Realised profits/(losses) on |
investments | |||||||
| Net income / (expenditure) |
12,695 | (24,720) | 80,307 | 68,282 | ||||
| Transfers between funds |
(4,019) | 4,019 | ||||||
| Net movement in funds |
8,676 | (20,701) | 80,307 | 68,282 | ||||
| Fund balances at 1April 2020 | f162,223 | $118,077 | f420,993 | 5697,754 | ||||
| Fund balances at 31March | 2021 | $170,899 | 897,376 | f501,300 | f769,575 |
| Year ended | Year ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 31stMarch | 2022 | 31stMarch | 2021 | ||||||
| GENERAL FUND | |||||||||
| Income | |||||||||
| Legacy | 5,000 | ||||||||
| Donations | 54,976 | 11,140 | |||||||
| Fundraising | income | 42,730 | 582 | ||||||
| Investment | income | 2,435 | 2,357 | ||||||
| 100,141 | 19,079 | ||||||||
| Expenditure | |||||||||
| Music k Medal Purchase | 493 | ||||||||
| Fund raising | costs | 18,138 | |||||||
| Grant for chorister Tutor | and administration | 63,000 | 18,000 | ||||||
| Management | Fee | 947 | 770 | ||||||
| 82,578 | 18,770 | ||||||||
| (Deficit) / Surplus | 17,563 | 309 | |||||||
| BURSARY AND SCHOLARSHIP FUND | |||||||||
| Income | |||||||||
| Donations | 59,000 | 13,000 | |||||||
| Investment | income | 15,802 | 15,336 | ||||||
| 74,802 | 28,336 | ||||||||
| Expenditure | |||||||||
| Grants to choristers | 73,122 | 53,350 | |||||||
| Management | Fees | 6,263 | 5,040 | ||||||
| Governance | costs | 440 | 440 | ||||||
| 79,825 | 58,830 | ||||||||
| (Deficit) / Surplus | (5,022) | (30,494) | |||||||
| MUSIC | COMMISSIONING | FUND | |||||||
| Income | |||||||||
| Legacy | |||||||||
| Donations | |||||||||
| Investment | income | 638 | 489 | ||||||
| 638 | 489 | ||||||||
| Expenditure | |||||||||
| Purchase/commissioning | ofmusic | ||||||||
| Management | Fees | 129 | 161 | ||||||
| (Deficit) / Surplus | 510 | 328 | |||||||
| CHOIR | TOURS FUND | ||||||||
| Income | |||||||||
| Donations | |||||||||
| Fundraising | income | 245 | |||||||
| Investment | income | ||||||||
| 245 | |||||||||
| Expenditure | |||||||||
| Fundraising | expenses | ||||||||
| Costs oftours | |||||||||
| (Deficit) / Surplus | 245 | ||||||||
| Surplus | / (Deficit) on Income Funds | 13,051 | (29,612) |