2023-03-31-accounts

	Page
Trustees'report	1to9
Independentauditor'sreport	10to13
Statementoffinancialactivities	14
Balancesheet	15
Statementofcashflows	16
Notestothefinancialstatements	17to26
Appendix—comparativeinformation	27to32

InvestmentReturns-M&G	Oneyear	Threeyear	Fiveyear
	Return	Return	Return
TotalCumulativeInvestmentReturn-Charifund	-0.71%	+45.08%	+26.03%
FTSE-All-ShareTotalReturn(Cumulative)	+2.92%	+47.41%	+27.85%
Source;M&GInvestments,31.03.2023
InvestmentReturns-Sarasin	Oneyear	Threeyear	Fiveyear
	Return	Return	Return
TotalCumulativeInvestmentReturn-AlphaCIF	-2.9%	+1.9%	+33.3%
PortfolioBenchmark	-2.4%	+6.5%	+35.9%
Source;Sarasin&PartnersLLP31.03.2023

Risk	Mitigation/Actions
Lackofclearfundingprioritiesagreed/	StrategicplanforRecoverywrittenwhichsetsoutpriorities.New
articulatedbyChapter	Chapterstrategytobedevelopedundertheleadershipofthenew
	Dean.
Inabilitytoidentifyandengagedonorsin	SupportfromDevelopmentCommittee.Projectsinarangeof
ordertoraisesufficientfunds	areaswithwideappeal.Regularreviewofpipelineofprospects.
Unexpectedlargeliabilityorserious	RegulardevelopmentandreviewofRiskRegisterbytheTrust
Incident	Board.OverarchingCathedralCrisisManagementPlaninplace.

	Note	General	Designated	Restricted	Total	Total
		Fund	Funds	Funds	2023	2022
		£	£	£	£	£
Incomefrom:
Donationsandlegacies	2	135,335	60,000	129,911	325,246	563,793
Othersources:CoronavirusJobRetentionScheme	2		-			5,183
Investmentsandinterestreceivable	3	10,482	308,707	36,581	355,770	297,164
Total		145,817	368,707	166,492	681,016	866,140
Expenditureon:
Raisingfunds	4	169,135	-	-	169,135	151,645
Charitableactivities	5		403,336	387,006	790,342	727,585
Total		169,135	403,336	387,006	959,477	879,230
Net(expenditure)beforerevaluations		(23,318)	(34,629)	(220,514)	(278,461)	(13,090)
Netlossesoninvestments	8		(350,443)	(47,205)	(397,648)	406,038
Net(expenditure)/income		(23,318)	(385,072)	(267,719)	(676,109)	392,948
Transfersbetweenfunds	11	(22,000)		22,000
Netmovementinfunds		(45,318)	(385,072)	(245,719)	(676,109)	392,948
Reconciliationoffunds:
Balancebroughtforward
at1April		275,473	6,263,222	1,811,067	8,349,762	7,956,814
Balancecarriedforward
at31March		230,155	5,878,150	1,565,348	7,673,653	8,349,762

	Note	General	Designated	Restricted	Total	Total
		Fund	Funds	Funds	2023	2022
		£	£	£	£	£
Fixedassets
Investments	8		5,383,942	739,053	6,122,995	6,520,643
Currentassets
Debtors	9	119,088		64,334	183,422	54,613
Cashatbank		603,233	639,409	761,961	2,004,603	2,339,163
		722,321	639,409	826,295	2,188,025	2,393,776
Currentliabilities
Creditors:amountsfalling
duewithinoneyear	10	492,166	145,201		637,367	564,657
Netcurrentassets		230,155	494,208	826,295	1,550,658	1,829,119
Totalnetassets		230,155	5,878,150	1,565,348	7,673,653	8,349,762
Funds	11	230,155	5,878,150	1,565,348	7,673,653	8,349,762

CanterburyCathedralTrustFund
Statementofcashflows
Fortheyearended31March2023		2023	2022
	Note	£	£
Cashflowsfromoperatingactivities:
Netcashusedinoperatingactivities	A	(690,330)	(315,946)
Cashflowsfrominvestingactivities:
Investmentincomeandinterestreceived		355,770	297,164
Netcashprovidedbyinvestingactivities		355,770	297,164
Changeincashandcashequivalentsintheyear		(334,560)	(18,782)
Cashandcashequivalentsatthebeginningoftheyear		2,339,163	2,357,945
Cashandcashequivalentsattheendoftheyear	B	2,004,603	2,339,163
Reconciliationofnet(expenditure)/incometonetcashused	inoperating	activities
		2023	2022
		£	£
ANet(expenditure)/incomeforthereportingperiod(asperSOFA)		(676,109)	392,948
Adjustmentsfor:
Losses/(Gains)oninvestments		397,648	(406,038)
Investmentincomeandinterestreceivable		(355,770)	(297,164)
(Increase)/decreaseindebtors		(128,809)	167,743
Increase/(decrease)increditors		72,710	(173,435)
Netcashusedinoperatingactivities		(690,330)	(315,946)
BAnalysisofcashandcashequivalents:
Totalcashandcashequivalents:cashatbank		2,004,603	2,339,163
CAnalysisofchangesinnetdebt	2022	CashFlows	2023
	£	£	£
Cashatbank	2,314,505	(336,503)	1,978,002
Cashatinvestments	24,658	1,943	26,601
	2,339,163	(334,560)	2,004,603

	General	Designated	Restricted	Total	Total
	Funds	Funds	Funds	2023	2022
	£	£	£	£	£
TrustsandFoundations	4,375		8,700	13,075	319,453
Legacies	109,601	60,000	66,334	235,935	177,325
Individuals	19,692		54,858	74,550	63,713
Collections	229		19	248	3,302
Other	1,438		-	1,438	-
Total	135,335	60,000	129,911	325,246	563,793
CJRS					5,183

	General	Designated	Restricted	Total	Total
	Fund	Funds	Funds	2023	2022
	£	£	£	£	£
Unittrusts	-	303,107	23,234	326,341	295,251
Bankandotherinterest	10,482	5,600	13,347	29,429	1,913
Total	10,482	308,707	36,581	355,770	297,164

		General	Designated	Restricted	Total	Total
		Fund	Funds	Funds	2023	2022
		£	£	£	£	£
	Staffcosts(Note7)	97,226			97,226	94,849
	Eventandcampaigncosts	16,931			16,931	12,252
	Governancecosts(Note6)	10,560			10,560	9,582
	Officeandadministration	17,028			17,028	27,981
	Otherfundraisingcosts	27,390			27,390	6,981
		169,135			169,135	151,645
	Expenditureonsupportcostsareallincluded		intableabove
		General	Designated	Restricted	Total	Total
		Fund	Funds	Funds	2023	2022
		£	£	£	£	£
	Officeandadministration	17,028			17,028	27,981
	GovernanceCosts	10,560			10,560	9,582
	OtherCosts	27,390			27,390	6,981
	StaffSupportCosts	41,577			41,577	38,751
		96,555			96,555	83,295
5.	Expenditureoncharitableactivities
		General	Designated	Restricted	Total	Total
		Fund	Funds	Funds	2023	2022
		£	£	£	£	£
	Grantfunding:TheChapter
	ofCanterbury		403,336	352,312	755,648	685,972
	ChoristerBursaries		-	34,694	34,694	41,613
	Total		403,336	387,006	790,342	727,585
6.	Governancecosts	General	Designated	Restricted	Total	Total
		Fund	Funds	Funds	2023	2022
		£	£	£	£	£
	AuditFees	10,560			10,560	9,582

Staffcosts
	General	Designated	Restricted	Total	Total
	Fund	Funds	Funds	2023	2022
	£	£	£	£	£
Salariesandwages	81,949			81,949	80,440
Socialsecuritycosts	9,131			9,131	8,376
Pensioncosts	6,146			6,146	6,033
	97,226			97,226	94,849

Investments
	Designated	Restricted	Total
	Funds	Funds	2023
	£	£	£
	(M&G)	(Sarasin)
Movementsinlistedinvestments
Marketvalue1April2022	5,734,385	786,258	6,520,643
Netunrealisedgains	(350,443)	(47,205)	(397,648)
Marketvalue31March2023	5,383,942	739,053	6,122,995
Cashheldintheinvestmentsportfolio		26,601	26,601
	5,383,942	765,654	6,149,596
MarketValue31March2022	5,734,385	786,258	6,520,643
Cashheldinportfolio31March2022	-	24,658	24,658
Total31March2022	5,734,385	810,916	6,545,301

9. Debtors
	General	Designated		Restricted	Total	Total
	Fund		Funds	Funds	2023	2022
	£		£	£	£	£
Miscellaneousdebtors	248				248	249
Prepaymentsandaccruedincome	17,840				17,840	4,364
Legaciesreceivable	101,000			64,334	165,334	50,000
	119,088			64,334	183,422	54,613
10. Creditors	General		Designated	Restricted	Total	Total
		Fund	MusicFund	Funds	2023	2022
		£	£	£	£	£
Expensecreditors		195			195	7,290
Accrualsanddeferredincome	10,727				10,727	9,582
AmountsowedtotheChapterof
Canterbury	480,277		145,201		625,478	546,849
Othercreditors		967			967	936
	492,166		145,201		637,367	564,657

11.StatementofFunds	Asat	Income	Fundraising	Charitable	Transfers	(Losses)	Asat
	1April		Expenditure	Activities	betweenfunds		31March
	2022						2023
	£	£	£		£
UnrestrictedFunds
GeneralFunds	275,473	145,817	(169,135)		(22,000)		230,155
Designatedfunds
DesignatedMusicFund	5,871,125	303,107		(303,107)		(350,443)	5,520,682
DesignatedCathedralOrganFund	30,026	522				-	30,548
DesignatedMusicCampaignFund	5,071	88					5,159
DesignatedCanterburyJourneyFund	100,229			(100,229)
DesignatedWestFrontFund	256,771	64,990					321,761
	6,263,222	368,707		(403,336)		(350,443)	5,878,150
RestrictedFunds
Fabricandrelatedexpenditure
ApprenticesGeneral	10,972	433					11,405
StainedGlassStudio	40,192	66,249					106,441
Stones	3,062	53					3,115
BuffsChapeltoClean	32,768	570					33,338
FabricFund	18,801	1,179		(6,338)			13,642
StoneMasons	490	1,017					1,507
NorthWestTransept	4,988	..		(4,988)
StoneAuctionFabricFund	211,693	3,683					215,376
WestFront	250,107	59,588					309,695
Music
Marit&HansRausingChoirBursary	764,258	-			22,000	(47,205)	739,053
RausingChoirBursaryIncome	(9,244)	23,028		(27,381)			(13,597)
ChoristerScholarshipfund	16,734	228		(7,313)			9,649
ChoralScholars	4,002	5,536		(9,503)			35
MusicFund	123,111	2,218					125,329
Music&Choir	82	-		(82)
AdoptaStop(Organ)	10,051	152		(9,913)			290
YourVoiceEndowment	1,191	21					1,212
Other
Miscellaneous	4,186	2,112		(4,040)			2,258
Paperconservation	6,175	425					6,600
CanterburyJourneyProject
ProjectDeliveryPhaseFund	317,448			(317,448)
	1,811,067	166,492		(387,006)	22,000	(47,205)	1,565,348
TotalofFunds	8,349,762	681,016	(169,135)	(790,342)		(397,648)	7,673,653

	Note	General	Designated	Restricted	Total
		Fund	Funds	Funds	2022
		£	£	£	£
Incomefrom:
Donationsandlegacies	2	179,433	55,000	329,360	563,793
Othersources:CoronavirusJobRetentionScheme	2	5,183		-	5,183
Investmentsandinterestreceivable	3	628	272,757	23,779	297,164
Total		185,244	327,757	353,139	866,140
Expenditureon:
Raisingfunds	4	151,645	-	-	151,645
Charitableactivities	5		684,500	43,085	727,585
Total		151,645	684,500	43,085	879,230
Netincome/(expenditure)beforerevaluations		33,599	(356,743)	310,054	(13,090)
Netgainsoninvestments	8		389,502	16,536	406,038
Netincome		33,599	32,759	326,590	392,948
Netmovementinfunds		33,599	32,759	326,590	392,948
Reconciliationoffunds:
Balancebroughtforward
at1April		241,874	6,230,463	1,484,477	7,956,814
Balancecarriedforward
at31March		275,473	6,263,222	1,811,067	8,349,762

	Note	General	Designated	Restricted	Total
		Fund	Funds	Funds	2022
		£	£	£	£
Fixedassets
Investments	8		5,734,385	786,258	6,520,643
Currentassets
Debtors	9	4,613		50,000	54,613
Cashatbank		835,517	528,837	974,809	2,339,163
		840,130	528,837	1,024,809	2,393,776
Currentliabilities
Creditors:amountsfalling
duewithinoneyear	10	564,657			564,657
Netcurrentassets		275,473	528,837	1,024,809	1,829,119
Totalnetassets		275,473	6,263,222	1,811,067	8,349,762
Funds	11	275,473	6,263,222	1,811,067	8,349,762

	General	Designated	Restricted	Total
	Funds	Funds	Funds	2022
	£	£	£	£
TrustsandFoundations	3,463	55,000	260,990	319,453
Legacies	127,325	-	50,000	177,325
Individuals	45,343		18,370	63,713
Collections	3,302		-	3,302
Other	-
Total	179,433	55,000	329,360	563,793

	General	Designated	Restricted	Total
	Fund	Funds	Funds	2022
	£	£	£	£
Unittrusts		272,252	22,999	295,251
Bankandotherinterest	628	505	780	1,913
Total	628	272,757	23,779	297,164

	General	Designated	Restricted	Total
	Fund	Funds	Funds	2022
	£	£	£	£
Staffcosts(Note7)	94,849			94,849
Eventandcampaigncosts	12,252			12,252
Governancecosts(Note6)	9,582			9,582
Officeandadministration	27,981			27,981
Otherfundraisingcosts	6,981			6,981
	151,645			151,645
Supportcostsof£83,295areincludedinthe		above.
Expenditureoncharitableactivities
	General	Designated	Restricted	Total
	Fund	Funds	Funds	2022
	£	£	£	£
Grantfunding:TheChapter
ofCanterbury		684,500	1,472	685,972
ChoristerBursaries			41,613	41,613
Total		684,500	43,085	727,585

6.	Governancecosts	General	Designated	Restricted	Total
		Fund	Funds	Funds	2022
		£	£	£	£
	AuditFees	9,582			9,582
7.	Staffcosts
		General	Designated	Restricted	Total
		Fund	Funds	Funds	2022
		£	£	£	£
	Salariesandwages	80,440			80,440
	Socialsecuritycosts	8,376			8,376
	Pensioncosts	6,033			6,033
		94,849			94,849

8.	Investments
		Designated	Restricted	Total
		Funds	Funds	2022
		£	£	£
		(M&G)	(Sarasin)
	Movementsinlistedinvestments
	Marketvalue1April2021	5,344,883	769,722	6,114,605
	Netunrealisedgains	389,502	16,536	406,038
	Marketvalue31March2022	5,734,385	786,258	6,520,643
	Cashheldintheinvestmentsportfolio		24,658	24,658
		5,734,385	810,916	6,545,301

9. Debtors
	General	Designated	Restricted	Total
	Fund	Funds	Funds	2022
	£	£	£	£
Miscellaneousdebtors	249			249
Prepaymentsandaccruedincome	4,364			4,364
Legaciesreceivable			50,000	50,000
AmountsduefromtheChapterof
Canterbury
	4,613		50,000	54,613
10. Creditors	General	Designated	Restricted	Total
	Fund	MusicFund	Funds	2022
	£	£	£	£
Expensecreditors	7,290			7,290
Accrualsanddeferredincome	9,582			9,582
AmountsowedtotheChapterof
Canterbury	546,849			546,849
Othercreditors	936			936
	564,657	-		564,657

11.StatementofFunds	Asat	Income	Fundraising	Charitable	Transfers	Gains	Asat
	1April		Expenditure	Activities	betweenfunds		31March
	2021						2022
	£	£	£	£
UnrestrictedFunds
GeneralFunds	241,874	185,244	(151,645)				275,473
Designatedfunds
DesignatedMusicFund	5,481,623	272,252		(272,252)		389,502	5,871,125
DesignatedCathedralOrganFund	30,000	26		-			30,026
DesignatedMusicCampaignFund	5,067	4		-			5,071
DesignatedCanterburyJourneyFund	512,198	279		(412,248)			100,229
DesignatedWestFrontFund	201,575	55,196		-			256,771
	6,230,463	327,757		(684,500)		389,502	6,263,222
RestrictedFunds
Fabricandrelatedexpenditure
ApprenticesGeneral	10,795	177					10,972
StainedGlassStudio	39,438	754					40,192
Stones	3,059	3					3,062
BuffsChapeltoClean	32,740	28					32,768
FabricFund	16,888	1,913					18,801
StoneMasons	-	490					490
NorthWestTransept	4,966	22					4,988
StoneAuctionFabricFund	211,512	181					211,693
WestFront	-	250,107					250,107
Music
Marit&HansRausingChoirBursary	747,722			-		16,536	764,258
RausingChoirBursaryIncome	2,331	22,996		(34,571)		-	(9,244)
ChoristerScholarshipfund	22,107	17		(5,390)			16,734
ChoralScholars	-	4,002		-			4,002
MusicFund	58,034	65,077					123,111
Music&Choir	-	82		-			82
JohnSunleyMemorialBursary	1,652			(1,652)
AdoptaStop(Organ)	9,880	171		-			10,051
YourVoiceEndowment	1,190	1					1,191
Other
Miscellaneous	2,183	2,003					4,186
Paperconservation	7,301	346		(1,472)			6,175
CanterburyJourneyProject
ProjectDeliveryPhaseFund	312,679	4,769					317,448
	1,484,477	353,139		(43,085)		16,536	1,811,067
TotalofFunds	7,956,814	866,140	(151,645)	(727,585)		406,038	8,349,762