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||SALISBURY CATHEDRAL CHORAL|SALISBURY CATHEDRAL CHORAL|FOUNDATION||
|---|---|---|---|---|
|||REGISTERED CHARITY NUMBER 1058899|||
|Trustee:||Salisbury Cathedral|||
|Address:||6 The Close, Salisbury,
SP12EF|||
|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|||
|Accountants:||Fletcher &Partners,
Chartered
Accountants|||
|||Crown Chambers,
Bridge|Street, Salisbury,|SP1 2LZ|
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|||||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|
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|||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|
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||||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|
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|||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|
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|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|
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|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|
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||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|
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||||||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)|