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ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2020 Blackburn Cathedral Trust Company number: 07044409 Registered Charity number: 1137237
Blackburn Cathedral, Cathedral Close, Blackburn, BB1 5AA
Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
The trustees, who are also directors of the charity for the purposes of the Companies Act, present their report and accounts for the year ended 31 December 2020.
| CharityName: | BlackburnCathedralTrust |
|---|---|
| Charity Number: | 1137237 |
| CompanyNumber: | 07044409 |
| Charity Offices: | Cathedral Office |
| Cathedral Close | |
| Blackburn | |
| BB15AA | |
| Trustees: | AnnDean (Chair) |
| TheVery Revd Peter Howell-Jones | |
| AlanT Rowntree | |
| Kathleen SMHughes | |
| PeterJelley (resigned 2August2020) | |
| Peter Mileham | |
| Christiana Buchanan | |
| Peter Whitman | |
| Treasurer: | AlanTRowntree |
| Independent Examiner: | HelenClaytonBScFCA |
| PM+M Solutions for Business LLP | |
| Chartered Accountants | |
| NewCenturyHouse | |
| GreenbankTechnology Park | |
| ChallengeWay | |
| Blackburn | |
| BB1 5QB | |
| Bankers: | NationalWestminsterBankplc |
| 35 KingWilliamStreet | |
| Blackburn | |
| BB17DL |
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
Contents
| Page | |
|---|---|
| Trustees’ Report | 1-2 |
| Independent Examiner’sReport | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| NotestotheAccounts | 6-14 |
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
3Trustees’44 - J Annual4 Reportai.
Structure, Governance and Management
The Trustees are responsible for the day to day management of the Trust and meet formally on a regular basis and liaise constantly between meetings.
Governing Document
The organisation is a private company limited by guarantee and is governed by its Articles of Association.
Charitable Status
The company received charitable status on 2 August 2010.
Risk Management
The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Recruitment and Appointment of Trustees
New Trustees are elected by the members at the AGM or are co-opted by the existing Trustees, who assess what skills and experience are required. New Trustees receive induction pack with a copy of the Memorandum and Articles, recent accounts and minutes.
Objectives, Aims and Activities for the public benefit
As Trustees of the charitable company, the Directors confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance and have referred to the Charity Commission’s general guidance on public benefit when reviewing aims and objectives and in planning future activities.
The object for which the Company is established is to promote the religious and charitable work of the Church of England by providing additional support for all or any of the charitable purposes to which the capitular revenues of the Dean and Chapter of the Cathedral Church of St Mary the Virgin in Blackburn are applicable.
Financial Review, Achievements and Future Plans
The past twelve months have seen the Trust continuing with its charitable fundraising and support of the Cathedral. During the year, it has received personal and trust donations of £17,169 (2019 - £28,085) and secured grants of £24,500 (2019 - £18,712). During the year it made grants of £26,190 (2019 - £46,785) to Blackburn Cathedral to continue the funding of the Choral Scholars, the Education Officer, and support of the musical life of the Cathedral.
No events led fund raising was possible owing to the lockdown restrictions imposed by the COVID19 pandemic. In 2019, these events generated a surplus of £20,789.
The financial statements show that for the year ended 31 December 2020 net income totalled £10,967 (2019 - £25,348) and total funds at the year-end were £140,381 (2019 - £129,414).
The Trustees have resolved to designate £76,175 (2019 - £62,579) towards the development of the Cathedral Crypt. There was net income on Unrestricted Funds of £11,839 (2019 - £41,458) and net expenditure of £872 (2019 - £16,110) on Restricted Funds.
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020 iIrustees’A ae = J Annual ReportA4-
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The balance of the Unrestricted General Funds at 31 December 2020 wasa surplus of £14,244 (2019 - £16,001) and the surplus on the Restricted Funds at that date was £49,962 (2019 - £50,834).
It is expected that during the coming year the Trust will continue to support the Cathedral by carrying out fundraising activities to enable ongoing projects to be fulfilled and continue to identify additional funders who can offer their support. It is clear, however, that event led fundraising activities will continue to be restricted by the lockdown restrictions imposed by the COVID19 pandemic.
Reserves Policy and Going Concern
Since the primary objective is to raise funds for the Cathedral Church of St Mary the Virgin, Blackburn, it is not the policy to hold reserves of more than an adequate amount to enable the Trust to have sufficient working capital to enable it to continue in operation. Unrestricted General Funds were in surplus of £14,244 (2019 - £16,001) at 31 December 2020. The Trustees are satisfied that future donations and fundraising efforts will cover costs and allow the surplus position to be maintained.
Statement of Trustees’ Responsibilities
The Trustees (who are also Directors of Blackburn Cathedral Trust for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law required the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period in preparing these financial statements, the Trustees are required to:
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e Select suitable accounting policies and then apply them consistently; e Observe the methods and principles in the Charities SORP; e Make judgements and estimates that are reasonable and prudent; e State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and,
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e Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 1 JUN 202) IN their behalf by: Ann Dean Chair, Board of Trustees
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
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Independent examiner’s report on the unaudited accounts of Blackburn Cathedral Trust
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2020, which are set out on pages 4 to 13.
Responsibilities and basis of report
As the charity Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’), In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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e accounting records were not kept in respect of the company as required by section 145; e the accounts do not accord with those records; or
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e the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than other than any requirement that the accounts give a “true and fair” view which is not a matter considered as part of an independent examination; or
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e the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102).
Ihave no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
WReter Chagicn
Helen Clayton BSc FCA PM+M Solutions for Business LLP New Century House Greenbank Technology Park Challenge Way Blackburn BB1 5QB
Date: Ii June 221
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
Statement of Financial Activities
Including Income & Expenditure Account
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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|funds|funds|2020|2019|
|Note|E|£|£|£|
|INCOME|
|Donations|and|similar|
|incoming resources|2|18,384|25,318|43,702|55,981|
|Other|trading|activities|
|Fundraising|3|-|-|-|41,470|
|Investment income|e|51|-|51|114|
|TOTAL INCOME|18,435|25,318|43,753|97,565|
|EXPENDITURE|
|Cost of raising funds:|
|Generating voluntary income|6,316|-|6,316|4,751|
|Fundraising|activities|280|-|280|20,681|
|Charitable|activities:|
|Promotion|of|religious and|
|charitable|activities|-|26,190|26,190|46,785|
|TOTAL EXPENDITURE|5|6,596|26,190|32,786|72,217|
|NET INCOME/ (EXPENDITURE)|11,839|(872)|10,967|25,348|
|Transfer|between|funds|-|-|-|-|
|NET MOVEMENT|11,839|(872)|10,967|25,348|
|Reconciliation|of|funds|
|Total|funds brought forward|78,580|50,834|129,414|104,066|
|Total|funds|carried forward|90,419|49,962|140,381|129,414|
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There are no recognised gains or losses other than the net movements in funds for the year. All incoming resources and resources expended derive from continuing activities.
The notes on pages 6 to 13 form part of these accounts.
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
Balance Sheet at 31 December 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Note | E | £ | |
| CURRENT ASSETS | |||
| Debtors | 7 | 9,036 | 14,012 |
| Cash atbank and inhand | 133,945 | 131,699 | |
| 142,981 | 145,711 | ||
| CREDITORS | |||
| Amounts fallingduewithinoneyear 8 | (2,600) | (16,297) | |
| NET ASSETS | 140,381 | 129,414 | |
| FUNDS | |||
| Unrestricted funds: | 9 | ||
| General funds | 14,244 | 16,001 | |
| Designated funds -CryptDevelopment | 76,175 | 62,579 | |
| 90,419 | 78,580 | ||
| Restricted funds: | 10 | 49,962 | 50,834 |
| 140,381 | 129,414 |
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 477 Companies Act 2006. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements under the requirements of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 286 of the Act and for preparing financial statements which give a true and fair view of the state of the affairs of the company as at the end of the financial period and of its income and expenditure for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the accounts, so far as applicable to the company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime within part 15 of the Companies Act 2006. Approved by the Trustees and authorised for issue on |\ June 202 caAnn De on behalf of the Trustees by:
Ann De Chair, Board of Trustees Company registration No.: 07044409
The notes on pages 6 to 13 form part of these accounts.
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020 Notes to the Accounts
1. Principal accounting policies
Company status
Blackburn Cathedral Trust is a private company limited by guarantee; the Trustees who are also the members are listed on the contents page. The company is registered in England and Wales. In the event of the Trust being wound up, the liability in respect of the guarantee is limited to £1 per member of the Trust.
Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2016) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 Section 1A) and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
Blackburn Cathedral Trust meets the definition of a public entity under FRS 102.
Going concern
The Trustees are satisfied the Trust remains a going concern and the financial statements are prepared on this basis.
Intangible income
The value of services from volunteers has not been included in the financial statements.
Grants
Income receivable under grants is recognised when the obligations under those grants are performed.
Donations and other forms of voluntary income
Donations and other forms of voluntary income are recognised in full in the Statement of Financial Activities when notification of entitlement is received and the amount receivable can be measured with sufficient reliability.
Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis inclusive of VAT which cannot be recovered and are recognised in the period in which they are incurred.
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e Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes;
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e Charitable expenditure comprises those costs incurred by the company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them;
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e Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity;
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
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Notes to the Accounts (cont'd)
1. Principal accounting policies (cont'd)
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Support costs are apportioned on an appropriate basis, e.g. percentage of income.
Restricted funds
Restricted funds are to be used for specified purposes as laid down by the provider of the funds. Expenditure which meets these criteria is allocated to the fund, together with a fair allocation of support costs.
Unrestricted funds
Unrestricted funds are donations and other income received or generated for the objects of the company without further specified purpose and are available as general funds.
Fixed assets Fixed asset items costing under £1,000 are not capitalised and are written off during the period.
Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2. Donations and similar incoming resources
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | 2020 | |
| é | £ | E | |
| Personal and trust donations | 16,504 | 665 | 17,169 |
| Amounts recoverableunder giftaid | 1,880 | 153 | 2,033 |
| Corporate, Personal andTrustGrants: | |||
| CemlynJonesCharitableFoundation | - | - | - |
| CommunityFoundationofLancashire | - | s | |
| Kersey Hairdressing | - | - | - |
| PillingTrust | . | 10,000 | 10,000 |
| The Lancaster Foundation | - | 2,000 | 2,000 |
| Ousley Trust | - | 7,500 | 7,500 |
| Ecclesiastical (Cathedral MusicalTrust) | - | 5,000 | 5,000 |
| 18,384 | 25,318 | 43,702 |
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
t d > F t dj 1
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Notes to the Accounts (cont'd)JS i
| 2. | Donations and similar incomingresources | (cont'd) | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | 2019 | ||
| £ | £ | £ | ||
| Personal and trust donations | 14,125 | 13,960 | 28,085 | |
| Amountsrecoverableunder giftaid | 2,469 | 6,715 | 9,184 | |
| Corporate, Personal andTrustGrants: | ||||
| CemlynJones CharitableFoundation | 5,000 | - | 5,000 | |
| Community Foundation ofLancashire | 1,580 | - | 1,580 | |
| Kersey Hairdressing | 132 | - | 132 | |
| PillingTrust | - | 10,000 | 10,000 | |
| The LancasterFoundation | 2,000 | - | 2,000 | |
| 25,306 | 30,675 | 55,981 | ||
| 3. | Fundraising | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | 2020 | ||
| £ | E | E | ||
| Appeal Dinner | - | - | - | |
| SalonPrive | - | - | - | |
| GolfDay | « | = | ” | |
| Other | ' | " | ||
| Unrestricted | Restricted | Total | ||
| funds | funds | 2019 | ||
| 3 | £ | £ | ||
| Appeal Dinner | 26,785 | - | 26,785 | |
| SalonPrive | 7,770 | - | 7,770 | |
| GolfDay | 6,360 | - | 6,360 | |
| Other | 555 | - | 555 | |
| 41,470 | - | 41,470 |
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020 Notesa to- the AccountsY (cont'd)q 4 “
| 5. | Resourcesexpended (cont'd) | ||||
|---|---|---|---|---|---|
| Generating | Promotion | ||||
| Voluntary | Fundraising | ofReligious | 2019 | ||
| Income | Initiatives | Charitable | Total | ||
| Activities | |||||
| £ | E | E | £ | ||
| Direct Costs: | |||||
| Grants to Blackburn Cathedral | |||||
| - Choral Scholars | - | - | 11,652 | 11,652 | |
| - Education Officer | - | - | 13,000 | 13,000 | |
| - MusicOutreach | - | - | 1,285 | 1,285 | |
| -Tower Roof | - | - | 20,848 | 20,848 | |
| Professional costs | 6 | - | - | 35 | |
| Insurance | 216 | - | - | 216 | |
| Blackburn Cathedral administration | |||||
| support | 4,500 | - | - | 4,500 | |
| GolfDay | - | 3,383 | - | 3,383 | |
| Dean’s Dinner | - | 13,499 | - | 13,499 | |
| Salon Prive | - | 3,649 | - | 3,649 | |
| Other | - | 150 | - | 150 | |
| TotalResourcesExpended | 4,751 | 20,681 | 46,785 | 72,217 |
- Trustee Remuneration The Trustees, who are considered key management personnel, neither received nor waived any emoluments during the year, in their roles as Trustees. No out of pocket expenses were reimbursed.
| 7. | Debtors | ||
|---|---|---|---|
| 2020 | 2019 | ||
| E | £ | ||
| Prepayments and accruedincome | 9,036 | 14,012 | |
| 9,036 | 14,012 | ||
| 8. | Creditors: Amounts fallingdue within one year | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Other creditors | 2,000 | 16,197 | |
| Accruals | 600 | - | |
| 2,600 | 16,197 |
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020 Notes to the Accounts (cont'd)
| 9. | Unrestricted funds | |||||
|---|---|---|---|---|---|---|
| 1stJan | Incoming | Resources | Transfers | 31stDec | ||
| 2020 | Resources | Expended | 2020 | |||
| £ | £ | E | £ | £ | ||
| General Funds | 16,001 | 4,559 | (6,316) | ~ | 14,244 | |
| Designated Funds: | ||||||
| CathedralCrypt | ||||||
| development | 62,579 | 13,876 | (280) | - | 76,175 | |
| 78,580 | 18,435 | (6,596) | - | 90,419 | ||
| 1stJan | Incoming | Resources | Transfers | 31st Dec | ||
| 2019 | Resources | Expended | 2019 | |||
| £ | £ | E | E | £ | ||
| GeneralFunds | 6,207 | 14,545 | (4,751) | - | 16,001 | |
| Designated Funds: | ||||||
| CathedralCrypt | ||||||
| development | 30,915 | 52,345 | (20,681) | - | 62,579 | |
| 37,122 | 66,890 | (25,432) | - | 78,580 | ||
| 10. | Restricted funds | |||||
| 1stJan | Incoming | Resources | Transfers | 31stDec | ||
| 2020 | Resources | Expended | 2020 | |||
| £ | £ | £ | E; | £ | ||
| Blackburn Cathedral: | ||||||
| Furtherance ofMusic | 5,398 | 18,318 | (2,913) | - | 20,803 | |
| MusicOutreach | 16,515 | 7,000 | (16,515) | - | 7,000 | |
| Fabricfund | 6,374 | - | - | - | 6,374 | |
| EducationOfficer | 13,747 | - | (6,762) | - | 6,985 | |
| Community cohesion | 8,800 | - | - | - | 8,800 | |
| 50,834 | 25,318 | (26,190) | - | 49,962 |
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Blackburn Cathedral Trust Annual Report and Accounts For the year ended 31 December 2020
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Notes to the Accounts (cont'd)
10. Restricted funds (cont'd)
| 1stJan | Incoming | Resources | Transfers | 31stDec | |
|---|---|---|---|---|---|
| 2019 | Resources | Expended | 2019 | ||
| £ | £ | E | £ | f. | |
| Blackburn Cathedral: | |||||
| Furtherance ofMusic | 5,975 | 11,075 | (11,652) | - | 5,398 |
| MusicOutreach | 17,800 | - | (1,285) | - | 16,515 |
| Fabric fund | 6,274 | 100 | - | - | 6,374 |
| TowerRooffund | 20,848 | - | (20,848) | - | - |
| Education Officer | 7,247 | 19,500 | (13,000) | - | 13,747 |
| Community cohesion | 8,800 | - | - | - | 8,800 |
| 66,944 | 30,673 | (46,765) | - | 50,834 |
11. Analysis of assets and liabilities between funds
| Unrestricted | Restricted | 2020 | |
|---|---|---|---|
| Funds | funds | Total | |
| £ | £ | E | |
| Current assets: | |||
| - Debtors | 2,536 | 6,500 | 9,036 |
| -Cash atbank and inhand | 90,483 | 43,462 | 133,945 |
| Creditors | (2,600) | - | (2,600) |
| 90,419 | 49,962 | 140,381 | |
| Unrestricted | Restricted | 2019 | |
| Funds | funds | Total | |
| E | £ | 2 | |
| Current assets: | |||
| - Debtors | 7 plz | 6,500 | 14,012 |
| - Cash atbank and inhand | 80,865 | 50,834 | 131,699 |
| Creditors | (16,297) | - | (16,297) |
| 72,080 | 57,334 | 129,414 |
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Blackburn Cathedral Trust
Annual Report and Accounts For the year ended 31 December 2020
Notes to the Accounts (cont'd)
12. Related party transactions
The Blackburn Cathedral Trust operates independently of Blackburn Cathedral Chapter, but is wholly for the benefit of the Cathedral. Therefore, Blackburn Cathedral Chapter is deemed to be a related party.
At31 December 2020 the Trust owes ENil (2019 - £5,119) to Blackburn Cathedral Chapter.
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