COMPANY NUMBER 03961185
CHARITY NUMBER 1087965
THE MANCHESTER
CATHEDRAL VISITOR CENTRE
(A Company Ilmli•d by guarantsa)
Report and Flnanclal Statements
Year Ended
31 Decembèr 2020

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Annual report and flnan¢lal 8tatements
for the year gnded 31 Docomber 2020
Contents
Pago:
1-3
Report of the Truste8S
Report of the Independant auditors
statement of Flnancial Activlties
Balance she8t
10-12
Notes forming part of the financial statements
TruBteo•
The Very Reverend R.M. Govender
Mr J. Blakey
Ms CA. Feeney J.P
Reverend Canon D.A. Holgate
Mr O.J. Horan
Mr R.H. Lloyd
Mr A. O'connor
Mr N. Payne
Reverend Canon M.Z. Wall
S•cr•tsry and rog1st•r￿ offlco
Mr D.J. Horan
Manchèster Cathedral
M8nch88ler
M3 1SX
Independènt Audltorn
BDO LLP
Two Snowhill
Birmingham
B4 6GA
Bank•r8
The Royal Bank of Scotland plc
Sl. Ann Street Offlce
Sl. Ann Street
Manchester
M60 2SS

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Report of the trusto08
for the year endod 31 Docombor 2020
The trustees present their annual report and the audilecl finan¢ial statements for th8 year ended 31 December
2020.
Gov•mlng Document
The Manchester Cathedral Visitor Centre is a company limited by guarantee governed by its MerrKir8ndum and
Arts'cles of Association dated 27 March 2000. It is regist6￿d as a ¢harity with the Chaiity Commission {10879551.
In the event of the charity winding up each m8mber shall contribute an amount not exceeding £10.
The Charity's objects in the Memorandum of Association were amènded at an Extraordinary General Meeling of
the Company on 10 May 2001.
Tha r6vlsed Charlty's objects are to advance the education of the public in the history and heritage of ManGh8ster
Cathedral and the surrounding area in Part￿Ular by the provision of a Visitor Centre.
In furtherance ol the oblects but not otherwise the Charity may exercise the following powers..
(i) to provide, manage, operate and maintain the amenits'es and facilits'es of the Cathedral Visitor Centre of
Manchester Cathedral.,
Ill) the preservation. protection and Improvement of any buildlng or buildings of hi81oric, archileclural or
artlsti¢ or scientiflc Interést and Importance. and any other buildings, as shall or may at any lime be
ve8le¢J In the Charity or In r88pecl of whlch the Charity Shall have any interest..
(111) the pres8rv8tlon, protectlon. and improvement of all furniture, pictures, historic records, books,
manusGript8, porcelain, silver and gold, objects d'art and other ¢hattels or items of national, hlstorlc,
artlslic. or 8cienllfic interest associated wlth or displayed in any such building or building8 or in
Manchester Calhedral.,
{Iv} the promotlon of the rellglous purp08e8 of Manchester Cathedral.,
{v) the advancenwnl, improvement, promollon and development of the education of the publlc by promoting
Cultural, social and artistlc Including exhibitions, information services on themes relatlng to Manchester
Cathedral and the Manchester Millennium Quarter, le¢lures, demonslralions. performances ol drama,
music, opera and ballet, dance. film shows, poetry readings, paintings and s¢ulptur8, literature and other
arts.
Tru8tM•
The Articles of Associatlon provide that the number of Irustee5 sh811 not b&18ss than three but shall not exceed
elve at any one Ilmo.
Th? trustees of the company during the year were..
The Very Reverend R. M. Govender (Chapter Tru8te81
Mr J. Blakey
Ms C.A. Feeney J.P
Reverend Canon D.A. Holgate
Mr D.J. Horan
Mr R.H. Lloyd
Mr A. O'connor
Mr N. Payne
Reverend Canon M.Z. Wall
Cllr W. Jeavons reS￿ned on 26 October 2020.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Report of tho tru•te
for tho year ondod 31 De¢omb¢r 2020 (contlnued)
Activity
The wholly owned trading subsidiary of the company is Manchester Cathedral Ventures Limited. A company
incorporated in England & Wales.
In pr8paring these financial statements advantage has been taken of the exemption not to prepare consolldated
financial statements incorporallng the resuks of its subsidiary.
A¢hl&vemant8 and perfornian¢•
During the year the company incurred buildin9 insurance, marf(eting ¢08t8, professional fees and building repairs
in runnin9 the Manchester Cathedral Visitor Centre. These costs were mostly covered by the receipt of a deficit
funding grant from Millennium Quarter Trust Ltd. The agreement was e$tsblished as part of the arrangement foi
the City lo acquire the former Vlsitor Centre shop following the IRA bomb damage in 1996 which allowed them to
rebuild the city centr8. The excess of expenditure over incom8 of the company for the year end8d 31 December
2020 was £86212019 £1.1501.
The charity has improved the Visitor Centre experience by including better slgnage for Manchester City Centre's
only scheduled ancient monument. the Hanging Bridge. In addition, the Volunteer Manager of Volition
Community arranges for volunteers lo organise vlsitor tours to commence in thè bulldlng and the Itinerary
includes Hanging Bridg& and Cathedral.
Pl•n• for th• futum p•rlod
The trus18es are concerned thal the trading sub81diary wlll not be profitable during 2021 due to Covld-19 and are
revlgwing its activities.
Publlc B•noftt
The trustees have due regard to the Charrty Commission guldance on publ1¢ benefft.
RHorvM policy and golng concorn
Reserves ale nèeded lo bridge the gap be￿een the Spending and receivlng of income and to cover unplanned
emergency repairs and other expenditure. The trustees ¢onsider that the Ideal level of reserves as al
31 December 2020 would be £25.000. The trustees are working with the directors of the trading subsidlary to
ensure that the current level of reserve8 improve¥. The Reserves at 31 Decèmber 2020 amounted to £10,447
12019 £11,309)
Ihout the support of Mill&nnlum Quarter Trust whlch provides a deficit fundlng grant to the ￿rnPany and its
subsidiary it is doubtrul that the company could continue operating. Any profits from the subsldlary will be Gift
Aided lo the charity.
Rlsk m•n•gam•DI
Tho trustees have a risk management stralegy which compri8es-.
an annual review of the principal risks and uncertalnties Ih8t the charity and Ils subsidiary
Manchester Cathedral Ventures Limited face.,
the establishment of policies, Systems and procedures to mitigate those risks identified in
the annual review,. and
the implementation of procedures designed to minimi5e or manage any potential impact on
the charity should those risks materialise.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
R?port of the trustees
for the ygar ended 31 Do¢ember 2020 (continuod)
Rlsk manag•ment (contlnued)
This work has identified that financial sustainability is the malor ffinancial risk for both the charity and its
subsidiary. A key 8lem8nt in the management of financial risk is a regular review of available liquid funds to settle
éebls as they fall due. Tegular liaison with the bank, and active management of trade debtors and creditors
balances lo ensure sufficient working capital by the Charity and its subsidiary company. Attention has also been
focussed on non-financial risks arising from fire. health and safety of conference delegates and other visitors lo
the cenlre. These risks ar8 managed by having robust policie5 and procedures in place, and regular awarèness
training for staff working in these operational areas.
The Trustees have revisited the going concern assessmant in September 2021 following the outbreak of Covid-
19 in early 2020. Although there has been Some impacl this has been quite minimal for the charity and has no
material impact on th& financial viability in the foreseeable future.
Trustee•. respon•lbllftlo•
The charity trustees (who are also directors of The Manchester Cathedral Vlsitor C8nlr8 for the purposes of
¢ompany lawl afe responsible for preparing a Iruslees, annual report and financial slatement8 In accordance wrth
applicable law and regulations.
Company law requlres the charlty trustees to prepare the financial Statements for each fi'nanclal year. Under that
law the Irusle88 have elected to prepare the financial statements in accordance with applicable law and United
Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel, including Financlal
Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland,. Under
company law the charlty trustees must not approve the financial statements unless satisfi8d the giv8 8 true and
fair view of the slat8 of the company and the profit or loss of the cornpany for that penod. In preparing the88
ffinanc￿l statemen18, the tru6tee9 are requirèd to..
select suitable a¢Gounting policies and then apply them consistently.,
make judgements and eslimales that are reasonable and pwdenl.,
stale whether applicable UK AGGounting Standards hav8 been lollowed, 8ublect lo any matèrial
d8partures disclosed and 8xplained in the financial statements.,
prepare the financlal statem8nls on the going wncem basis unless it 18 inappropriate lo presume that
the company will conllnue in business.
The trustees ar8 ￿SponSible for ke8ping proper accounting records which disclose wrth reasonable accuracy at
any time the financi81 position of the company and to enable them to ensure that the financial statements comply
wllh the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence
for taking reasonable step8 for the prevention and detection of fraud and other irregularities.
Dhclo8ure of Inforniatlon to audltorn
Each of the person8 who are trustees at the time wh8n this Trustees, re￿rt is approved has ¢onfimied that..
so far as that trustee18 awarè, the￿ is no relevant audll Informatlon of which the ¢ompany'$ auditors are
unaware, and
that trustee has taken all the 8teps that oughl to havé been taken as a trustee in order to be aware of any
relevant audit Infomiatlon and to estsblish that the company's auditors are aware of that infom)ab'on.
In preparing this trustees, report advantage has been taken of the small companies, exemption.
This report was approved by the board on 23 November 2021 and slgned
On behall of tho Board
'CONNOR- Director

THE MANCHESTER CATHEDRAL VISITOR CENTRE
R•port of tho Independent audiiors
INDEPENDENT AUDITOR'S REPORT TO TRUSTEES OF MANCHESTER CATHEDRAL VISITOR CENTRE
Opinion on the financial statemgnts
In our opinlon. the financlal stslements-.
gNe a true and fair view of the state of the Chadtable Company'8 affairs as at 31111 December 2020 and of
incoming Trsources and applicabon of resources for the year then ended,.
have been properly prepared in accordance with United Kingdom G8nerally Accepted Accounting Practice,.
and
have been prepared in accordance with the requlrements of the Companies Act 2006.
We hav8 audlted the linancial statements of ManGhoster Cathedral Visitor Centre I the Charitable Company } for
the year ènded 3111 De¢emb8r 2020 which comprlse the ststemenl of financial activities, the balance shéet and
note5 to the financial ststements, including a summary of significant accounting policies. The financial reporting
fram8work that has been applied in their preparation 1$ applicable law and United Kingdom Accounting
Standard5, including Flnancial Reporting Standard 102 Th8 Financial Reporting Stand8rd 8ppIic8ble In th6 UK
and R8publi¢ of Irel8nd (United Kingdom G&n&rally Accepted Accounting PraGts'¢el.
Basls for opinion
We conducted our audit In accordance with International Standards on Audlting {UK} IISAS IUKII and applicable
law. Our responsibili118s under those standards are furth8r described in the Auditor's ffjsponslbili118s for the audit
of the financial slalements section of our report. We believe that the audit evidence we have obtained is sufficient
and appropriate to provlde a basis for our oplnion.
Ind•pendonc•
We remain independent of the Charitable Company in accordance with the ethical requirements relevant to our
audll of th& financial statements in the UK, including the FRC'S Ethical Standaré and we have fulfilled our olher
elhlcal re3ponsibilitie8 In accordance with these ￿qUIreMentS.
Conclusions related to going ¢on¢em
In auditing the flnancial slatemenls, we hav8 concluded that the Trustees, Use of the going eoncfrrn basis of
accounting in the preparation of thé financlal statements is appropriate.
Based on the work we have performed, we have not identified any materSal uncertainties relating to events or
conditions that, individually or collectively, may Ga$t significant doubt on the Charitable Company's ability to
continue as a going concém for a penod of at least tsvelve mnths from when the financial statements are
aulhorised for issue.
Our responsibilities and the responsibllllie3 of the Trusteés with respect lo going concern are described in the
relevant $eclion$ of this report.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Report of th• Independent audltorn
INDEPENDENT AUDITOR'S REPORT TO TRUSTEES OF MANCHESTER CATHEDRAL VISITOR CENTRE
Icontlnuedl
Other infomation
The Trustees are responsible for the other information. The other information comprises the information included
in the Tfuslees Report, other than the financial statèments and our audilorfs report thereon. The olher information
comprises.. the Trustees Report. Our opinion on the financial statements does not cover the other information
and, except lo the extent otheMi8e explicitly slated in our report, we do not express any form of assurance
conclusion the￿on. Our responsibility is to read the other information and, in doing so, consider wheth8r the
other information is materially inconsistent with the financi81 statements or our knowledge obtained in the audit or
otherw15e appears to be materialty misstated. If we identify such material inconsistencies or apparent material
misstatements, we arè required to determine whether there is a material misstatement in the financial statements
or a malerial misstatement of the other information. If, bas8d on the work we have performed. we conclude that
Ihare is a material mi5stslement of this other information, we are required to report that fact.
We h8ve nothing lo rèport In this regard.
Other Companies Act 2006 reportlng
In our opinion, based on the work undertaken In the ¢our88 of the 8udlL
the information given in th8 Trustees, Report, which Includeg the Directors, Report prepared for the purposes
of Company Law, for the financial year lor which the financi816tatements are prepared is consistent with the
financial statements,. and
the Dir8Ctors' Report, which ara included in the Trustees, Report, has been prepared in accordanc8 wlth
applicable legal requirements.
In the light of the knowledge and understanding of the Charitable Company and its envlronment obtalned in the
course ol the audit, we have not idenliffied material misstatements Ihe Strategic report or the TTu51ee's report.
We have nothing lo report In respect of the following matters In r818lion to which the Companies Act 2006
requlre8 US to report to you if. in our opinion.,
adequate accounting re￿rdS have not been kept, or returns adequate for our audit hav8 not been rectived
from branche8 not visited by u8., or
the flnancial stal&monts are not in ag￿ement with the accounting records and retum8.' or
certain disclosures of Directors, remuneratoon speclfied by law are not made,. or
we have not re¢elved all the inf0m￿tIon and explanatSons we require for our audit.. or
the truglees were not enliued to PT&pare the financial statements In accordance with the small companies
regime and tak& advantage of the small companies, exemptions in preparing the directors, report
R&sponsibilities of Trustees
As explained more fulty in the Trustees, responsibilities Statement. thè Trustees (who are also the directors of tho
charitable company for the purposes of company lawl are responsible for the preparalDn of the financial
statements and for being sat15fied that they give a true and fair view, and for Such internal control as the Trustees
determines Is necessary lo enable the prepafation of financial statements that are free from material
misstatement, whether due to fraud or error.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Report of the Indopfrndent audltorn
INDEPENDENT AUDITOR'S REPORT TO TRUSTEES OF MANCHESTER CATHEDRAL VISITOR CENTRE
{Continuodl
In preparing the financial statements, the Truste88 are responsible for as88ssing the Charitable Company's
ability to continue as a going concem, dis¢losing. as applicab18. matters related lo going concern and using the
going concern bas1$ of accounting unless the Trustees either intend to liquidate the Charitable Company or to
cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for th8 audit of the financial stslements
We have been appolnled as auditor under the Companies Act 20C* and report In accord8nce wlth the Act and
relevant regulations made or having effect thereunder.
Our objectiV88 a￿ to obtain reasonable assurance about whether the financlal slalements as a whole are I￿e
trom material misstatement. whether due lo fraud or error, and to Issue an auditor's report that includes our
opinion. Reasonable 8ssuranc8 Is a hlgh level of assurancé, but is not a guarantee that an audit conducted in
accordance with ISA$ IUKI will a￿vaYS delecl a material misstatement whèn it exists. Misslatemenls can a￿se
from fraud or error an¢J are considered material if, individually or In the aggregat8. they could reasonably be
expected to influence the economic decisions of u8ers taken on the ba818 of these financial statements.
Ext&nt lo which th& audlt was cap8bl8 of detecting lffegu18ri11es. includlng fraud
Irregularilles. including frau¢J, are instances of non-compliance with law8 and regulations. We design proceduras
in line with our résponsibilities. outlined above, lo detect mal8rial misstatements In respect of irregularities,
including fraud. The éxtènt to which oui procedures are capablè of delecung irregularllies. including fraud is
detalled below..
We made enquiries of managemènt. This included tho following.,
how they have identified, evaluated and complied with laws and regulation8 and whether they were
awa￿ of any instances of non-¢ompliance',
their process for detecting and responding lo the rlsks of fraud and whether they have knowledge of any
actual, suspected or alleged fraud.. and
which internal controls have been eslabllshed to mltlgate rl8ks r81aled to Iraud or non-compliance with
laws and ffjgulations.
We obtairsed an understanding ol the legal and regulatory fr8mework$ that are applicable lo Ihe Charity. These
include, but are not limited to the Charitle8 SORP and UK GAAP.
In addition, the Company 1$ $ublect to many other 18WS 8nd régulallons where the consequences of non-
compliance Could have a material effect on amounts or disc108ure$ in the financial slatemenls, for instance
through the imposition of fines or litigation. We identified the lollowing areas as those most likely to have such an
effect.. data prolection. Audillng standards limit the required audit procedures to identify non-compliance with
these laws and regulats'ons tc enquiry of the Thos8 Charged with Governance and other management and
inspection of regulalory and legal correspondence rf any.
We consldered management's incentives and opportunities for fraudulent manlpulation of the financial
statements (Including r8venue recognition and the risk of override of controls), and determined that the principal
risks were related to posting inappropriate journal entries to manipulate financial results and management bias in
accounting eslimales.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Rfrport of Ihe indgpgndont audliors
INDEPENDEKf AUDITOR'S REPORT TO TRUSTEES OF MANCHESTER CATHEDRAL VISITOR CENTRE
{Contlnuod)
Audit response to risks identified
We reviewed the financial statement disclosures and sample tested lo supporting documentation to
assess compliance with relevant laws and regulations discussed abov8'.
We made enquiries of management,.
We reviewed minutes of meetings of those charged with govemanGe',
We reviewed any Serious Incident Reports submitted;
In addressing the risk of fraud through management override of controls, we tested the appropriateness
of journal entries and other adjustments". assessed whether the judgements made in making accounting
estimates are indicative of a potential bias., considered completeness of related paty transact￿n8,. and
evaluated the business rationale of any significant transactions that are unusual or outside the normal
course of business,. and
Our audit procedures waro designed to respond to rfsks of materlal mi8Statement in the financlal statements,
recognising that the risk ol not detecting a mal8rial mi$stslement du8 to fraud is higher than the risk of not
detecting one resulting from error. as fraud may involve deliberate concealment by, for example, forgery,
misrepresentations or through collusion. Thère a￿ inherent limitations in the audit procedures performed and the
further removed non-compliance with laws and regulations is from the events and transactions reflected In the
financial statements, the le88 likely we arè to become aware of It.
A further description of our responsibilities for the audrt of the financlal statements 18 located at the Financial
Reporting Council's l FRC'S'I website at..
fes
onsibili
ie$. Th18 de8cription foms part of our auditorfs wport,
U80 ol our rnport
Th1$ rep)rt is made solely to the Charitsble Company's members, as a body, in a¢cordarsce with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the Charitsble
Company's members those matters we are required to stale to them in an audilor's report and for no other
purpose. To the fullest extent pemltted by law, we do not accept or assume responsibility to anyone other than
the Charitable Company and the Charitable Company's members as a body, for our audit work, for this report, or
for the opinions we have formed.
Docuslgned by..
A11A160130084AC...
Kyla Bellingall {Senior Statutory Auditor)
For and on behalf of BDO LLP, statutory auditor
Birmingham, UK
Date 26 November 2021
BDO LLP is a limited liability partnership ￿gIStered in England and Wales (with registered number OC305127}.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Statement of Finan¢lal A¢tlvlllas
{Includlng Statomont ol Comprehenslve Income)
for the yfrar onded 31 December 2020
2020
2019
In¢om•:
Income from donations and legacles
28,164
18,513
Total Incomo
28,164
18.513
Exp•ndltur•:
Expenditur8 on charltable activities
29.026
19,663
Total Expfrndlturo
29.026
19,663
Not exyndltur• •nd n•t mov•m•nt of lund• In y••r
18621
{1,1501
Roconclllatlon of fvnd•
Unrestrntsd funds brought forward
11,309
12,459
Unrn8trlet•d fund8 Carrlod forw•rd
10,447
11,309
All lund8 are unrestricted.
All amounts relate to conllnuing activibes.
All recognised gains and108s98 are included in thè stalemnl ol financial activitie8.
The notes on page$ 10 to 12 form part of these financial statements.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Balance shegt
at 31 December 2020
COMPANY NUMBER 3961186
Not•
2020
2019
Flxod A88et8
Investments
Current a880ts
Debtors
Cash al bank and In hand
25,367
4.624
3,520
23,086
29,991
26.6C
Cr•dftor8: •mounts falllng due
wlthln onfr yfj•r
{19,5471
{1 5,300)
Net curr•nt a8•0ts
10,444
11,306
Tot•1 •••ots l•M current Ilabllltl••
10.447
11,309
N•t a88•t•
10,447
11.309
The funds of the charlty:
Unrestricted income fund8
10,447
11,309
10,447
11.309
These financial statements have been prepared Sn accordance wlth the provi8bn8 applicable to companies
subject to the small companies, regime.
Th8 financlal statements were approvéd by the Board of trustees and authorised for issue on 23 November 2021.
R.M. GOVENDER
TruBIoo
The notes on pages 10 to 12 form part of these flnanclal slatements.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Not•8 formlng part of tho fin•n¢ial statemfrnts
for the yoar ended 31 D•¢omb•r 2020
Accounting polkle•
The flnancial stalemenls have been prepared under the historical cost convention and in accordance with the
Charilles SORP IFRS 1021 Second Edition October 2020, the Financial Reporting Standards applicable in the
United KSngdom and the RepubliG of Ireland, applicable UK a¢counb'ng standards, the Charities Act 2011 and the
Companies Act 2006.
The preparation of financlal statements in compliance with FRS 102 require$ the use if Certain crits'cal accounting
estlmate8. It also requires management lo exercise judgement in applying the company's accounting policies.
Golng Con¢•rn
The financial statements have been prepared on a going concern basis.
Al the dale of approval of these financial 8tal8menls, the Trustees have perfomied an assessment of the
company's cash positlon and for8casls whlch considers a period of al least 12 months from this date of approval.
The deficlt funding grant from Mlllennium Quarter Trust Limlted, which is in Pla￿ until 23 Juty 2082, will covor the
limrted overhead8 the company Incurs. The charity's annual incomè and overhead5 are stable, the forecast8
confirm that the charity is able to manage its cashflows around the contribution from Millennlum Quarter Trust
Limlled to enable the company to meet ils obligations as they fall du8.
On this basis, the trustees conslder that there is no m8lerlal uncert8inty and that il is appropriate for the financial
Statements to be prepared on a going Concern basls.
The following arxounting policios have been applied..
Flnanclal reportlng standard 102- rgduced dl8clo8ure ex•mptlons
the requirements of Section 3 Flnancial Statement Presentslion paragraph 3.17 {d), nam8ly the requlremènt to
produce a slalemenl of cash flows for the reporkn'rsg period.
Judg•m•nts In applylng •c¢ountlng poll¢l88 and k•y •oure•• of •8tlm•tlon uncertalnty
Trade debtors (see note 61. Al each reporting date, trade debtors are assèssed for recoverability. If there is any
evidence of Impairment, the carrying amunt of the d8blor16 reduced lo its recoverable amount. The Impairff￿nl
loss is r￿ogniSed immediately in the Income statement.
Incomo
All Income Is recognised once the charity has entitlement to the incom&, it Is probable that the Sncome will b8
rec8fvod and the amount of in￿rne receivable can be measured reliably.
Donations are recognised in the statement of financial activities when the charlty has been nollfied In wrlting of
both the amount and se1118menl date. In the event that a donation is subject to conditions that requ1￿ a level of
performance before the charity is entitled to the funds, the income is deferred and not recognised unts'l either
those conditions are fully mèt, or the fulfilmenl of those Conditions is wholly within the control of the charity and il
is probable that those conditions wlll be met.
Investment in¢omè is included when receivable.
Dlrect Charltable Ex￿ndIture
Liabilities are recognised as expenditure as soon as there is a legal or con5tru¢tive obligation committing the
charity lo that expenditure, il is probable that settlement will be required and the amount of the obligation Can be
measured or estimated reliably. All expenditure is accounted for on an accruals basis.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its a¢ts'vilies and services to
Manchester Cathedral Visitor C&ntre and the community seryed by Manchester Cathedral. It includes both costs
that can be allocated directly to such actfvities and those costs of an indirect nature necessary to support them
including govemance costs.
10

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Note• fomilng part of the finan¢lal statsments
for the yfrar ondod 31 Decembor 2020 (continu•d)
Trustees rgmunorallon
None of the trustees received any remun8ratlon in Ihe year12019 -£Nil). No truslee expenses have been
incurred in the year12019- £Nil}.
Net Income for the year
2020
2019
Thls is arrived al after charging..
Audllors, remuneration
2,278
2,276
Taxatlon
Th8 charity is exempt from tax on income and gains tslling within section 505 of the Taxes Act 1998 or
section 252 of the Taxatlon of Chargeable Gains Act 1992 to the extent that these are applied lo ils
charilabie oblects.
Inv•stm•nts
2020
2019
Investment in subsidlary
The wholty ownod subsidiary is Manchester Cathedral Ventures Limlted incorporated
in England and Wales (Number 042236281
Dèbtorn:
2020
2019
Manchester Cathedral Venture8 Limrted
Other debtors
11,831
13,538
3,520
25.367
3.520
Crnditorn: amounts falllng due wlthln one ye•r
2020
2019
Amounts due lo related party {note 81
Accruals and deferred income
1,712
13,588
19,547
19,547
15,300
The anKunts due to th• related part*s were interèst free and unsecured.

THE MANCHESTER CATHEDRAL VISITOR CENTRE
Not08 fornilng part of thg flnanGlal 8t•lom?nts
for Ihe yoar ondod 31 Decgmbgr 2020 (￿ntInu*d}
Afflounts arn duo to related parti•8 as follows..
2020
2019
thin one year
Manchester Cathedral Venturés Llmlted
1.712
Unr•8tr1ct•d Fund•
2020
2019
1 January
Income
Expenditure
11,309
28,164
129,0261
12,459
18,513
119,6631
31 Decembor
10,447
11,309
12