REGISTERED CHARITY NUMBER: 1175597 LINCOLN CATHEDRAL LEARNING, ARTS, CULTURE & EVENTS CIO ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 **LINCOLN CATHEDRAL LEARNING, ARTS, CULTURE & EVENTS CIO** ## **Reference and Administrative Details** ## **Trustees** The Dean, The Very Reverend Christine Wilson The Precentor, The Reverend Canon Nicholas Brown The Chancellor, The Reverend Canon Dr Paul Overend **Principal address** 4 Priorygate Lincoln LN2 1PL **Independent examiner** Jane Marshall FCA DChA BHP LLP One Waterside Place Basin Square Brimington Road Chesterfield S41 7FH ## **Independent examiner** **Bankers** Natwest Smiths' Branch Lincoln **Registered charity number** 1175597 **1** LINCOLN CATHEDRAL LEARNING, ARTS, CULTURE & EVENTS CIO TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2022 (CONTINUED) The Trustees present their report and the financial ststemenls of the charitable incorporated organisation {'CIO'l for the year to 31 March 2022. The Irustees have adopted the provisions of the Ststemenl of Recommended Pradice ISORPI 'Accounling and Reporting by Charrties. in preparing the annual report and financial statements of the charity- STRUCTURE, GOVERMANCE AND MANAGEMENT Lincoln Cathedr81 Leamlng, Arts, Culture and Events CIO I'Lincoln Cathedral CIO'I is a Charitable incorporaied organisation registered wth the Charity Commissioners and govemed by its CIO Fwndalion Constitution dat8d 7 November 2017. The body of Trustees shall consist. when complete. of four ex offlclo trustees.. The Dean of Lincoln The Pre￿ntor of Lincoln The chan￿lIor of LIn￿1n The Subdean of Lincoln The Trustees are responsible for the day to day m8n8gemenl of the charfty. Trustses must number of a mlnimum of and a maximiwn of six. Every matter is determined by a m8jorty of votes of the Trustees present at the meeting. Trustees are appointed by resolLrtion 81 a properly convened meeting wth no less than 21 days notice being given to the cuThenl Trustees, Trmlh the exception of the first charity trustees as prescribed In the CIO Constitution. In selecting individuals for apwinlmenl as charity trustees due regard is given to the skills, kt)owled9e and exporienc8 needed for the effective administration of the CIO. The Chapter of Lincoln Cathedral has the right to Veto wit￿)Ut cause the appointment of any trustee. The charity trustees wlll m8k8 available to each new charity trustee, on or before his or her first appointfflenL' a) a copy of the current version ol its constitution- and bl a copy of the CIO'S lalesl Trust￿. Annual Report and Ststement of Accounts. Risk Managam•nt The Trustees monitor the maje¢ risks lo which the CIO is exposed and keep und6r review th8 adequacy of systems. ￿1¢h they believe, are adequate and appropriate lo the size of Ihe Charity and the nature of its operatior6. P8rticular to financial controls. the account5 are scrulinised by the Galhedral Chapter Finance Cornmittee. Investment Policy The Investment Policy of the Trustees seeks lo produce the best financial retum wthln an acceptable level gf risk. The nivestment objective for short tem) reseNes is lo preserve capital value wtth minimal levels of risk. ensuring high liquidity of assets in order to meet short tem cash Ilow needs. The CIO purposès are such that there are no planned long term reseryes. Administratlv• Structuro The Corporate Body of Lincoln Cathodral has agreed to provide administrative support to the trustees at no charge. 0￿ECTIVEs ANO ACTIVITIES The objects of tho CIO are, fry Ihe publi¢ benefit.. 1. To 8dv8nce the Christian religion, through the support of the Chapter of LIn￿lTr Caihedral, in partic¢Jar bul not excluswely by-. the preservation and maintsnance of the cathedral fabric and its precinct and the furtherance of ils education and outreach acti￿lieS for the benefit of the public. 2. To advance such other exclusively charitable purposes supported by the Chapter of Lincoln Calhedral, through the provisi¢)n of grants. services and support. LINCOLN CATHEDRAL LEARNING, ARTS, CULTURE & EVENTS CIO TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 {CoNTINUED) The trustees have had due regard lo Ihe Charity Commission Guidgnce on publK benefit when setting their aims and objectives. Strategies Activities are planned to meet strategic aims and have included the holding of arts and cultural events. lectLJres and fundraising events throughout Ihts penod and engaging wlh a wide and diverse audience. ACHIEVEMENTS AND PERFORMANCE Activities for the period to March 2022 were planned particulady lo develop audiences and income following Ihe global Covid-19 pandemic. These events included a Successful $8ries of three organ recjtals, including a very popular performance by intem8tional recitalist Colin Walsh. The annu81 perf0M)an￿ of Handel'5 oratorio Messiah was also very suttessful. and has proven lo be a reliable fixture in the calendar. Perfomiances of Raymond Brigg's The Snowman, with live music by Howard 8Fake, were also enjoyed by many families before Christmas. And a post£ovid. socially dlstsnced outdoor concert of thoral music was another success. FINANCIAL R￿￿Ew Total income during the p8riod amounled to £71,28212021: £1.0231 and generated a surplu5 of £9,393 {2021'. £1.806 deficit). No funds have been released in the current year to support chorilies due to the low volume of activity and continued uncertainty in respect lo the coronawrus pandemic. The remaining reserves will be released lo fund the work5 of Lincoln Cathedral when available. in line with the reserves policy below. Resgrvgs pollcy Th& minlmum level of free reserves required is quant[f￿d in lin8 wilh Ihe wcfking capital and operating ¢8sh flow requirements and monitored by the produeli¢n of annu81 cash flow forecasts. Reserves should be applied lo charitable purposes as soon as practicable and in line wth these ranges. An aCcepta￿e range of free reseNes, beyond Ihls requirement, is considered to be 3-6 months of fixed operational costs less any 'reasonably certain, income. As al 31 March 2022 the fund5 compris& of £57,06412021.. £47,671), which is c￿nSidered sufficient to cash ow future planned activities in support of Lincoln Cathedral to April 2023. Of the reserves held £32,560 are considered to b8 the charity's tree reserves. Operating costs for six months are estimated, in line with the minimum reserves w11￿. at approximate £6,500. Cash flow requirements for the Spring 2023 even15 programme will be carefvlly considered when planning events and before distributing fijnds lo support Lincoln Cathedral. Plans for future perlod8 Planned aclivllies for Ihe future continue lo include a regular programme of cultural, educational and ndraising events. such as tscketed musical perfomiance events. lectures encour8glng engagement and fundraising events. The charity is very much Fooking fonN8rd to Summer 2022 where many of our 2020 events w711 lake place alongside a full annual programme of aclNity- There will be highlights of the Summer period being the planned Flower Festival and the welcome retum of StarrirE Lincoln Theatre Company to Lincoln Cathedral for another fantastic theatrical production in the nave. LINCOLN CATHEDRAL LEARNING, ARTS. CULTURE & EVENTS CIO TRUSTEES, REPORT FOR THE YEAR ÉNDED 31 MARCH 2022 (CONTINUEO) TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance wlh applicable law and United Kingdom Accounting Stsndards (Uniled Kingdom Generally Accepted Accounting Practi￿). The law applicable lo charitres in Eng18nd and Wales requires the trustees to p￿pare financial slalements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resour¢es and akwlication of resources of the Chanty for thal period. In preparing these finanrAal statements. the Trustees are required lo.. select suitable accounting policies and then #ppty them consislenuy., observe the methods and principles in the Charities SORP 2019 {FRS 102). make judgements and estimates that are reasonable and pnjdent.. stale whether applicable UK Accounting Standards have been followed. subject lo any material departures disd05ed and explained in the financial statements- prepare the ￿ancial slalements on the going concern basis unl8s8 It 18 inappropriate to presume that the charity will continue in operation. The Trustees are resp¢￿Ible for keeping proper accounting r8cords that disclose with reasonable accuracy al any time the finanaal position of th8 Charity and enable them to ensure that the financi81 ststements comply with the Char&*es Act 2011, the Charities {Account5 and Reports) Regulallons 2008 and the provisions of the CIO ¢onsÉitulion. They are also responsible for safeguaTding the 8ssets of the Charity and hence fc¢ taking reasonable steps for the prevention and d8lectv)n of fraud and other irregularities. Approved on beh81f of th8 Trustees on The Very Reverend Christine Wilson Truste **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES** ## **OF LINCOLN CATHEDRAL LEARNING, ARTS, CULTURE & EVENTS CIO** I report to the charity Trustees on my examination of the accounts of Lincoln Cathedral Learning, Arts, Culture & Events CIO for the year ended 31 March 2022 which are set out on pages 6 to 14. ## **RESPONSIBILITIES AND BASIS OF REPORT** As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity's accounts as carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **INDEPENDENT EXAMINER'S STATEMENT** Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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: - accounting records were not kept in respect of the charity as required by section 130 of the Act; or - the accounts do not accord with those records; or - the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I have 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. Jane Marshall (Dec 14, 2022 17:50 GMT) Jane Marshall FCA DChA BHP LLP One Waterside Place Basin Square Brimington Road Chesterfield S41 7FH Date: Dec 14, 2022 **5** LINCOLN CATHEDRAL LEARNING. ARTS. CULTURE EVENTS CIO YEAR ENDED 31 MARCH 2022 STATEMENT OF FINANCIAL ACTIVITIES Unresirfcted Raslrfcted Endowment Funds Funds Funds 2022 2022 2022 Total Funds 2022 Total Funds 2021 Note Incom• from: Legaaes and donations (including gift aid) Grants receivable Charitable actthtSes Other tradiro actIV￿leS Fixed asset investment irKome 106 106 41.097 1,132 2.212 26,735 43,309 27.867 435 1551 To101 In¢on 42,335 28.947 71.282 1.023 Expendi￿rn on: Charitabl¢ actI￿tieS i8irKJ funds 31,190 177 217 30,305 31A07 30A82 1599 230 Total •xp•ndltur• 31,367 30,522 e1,889 82> Not ineomèllexponditufe) Oth•r r•eognis•d gains and los￿. Net ganslllosse5} Net mrjvement In lund$ 10,968 11.5751 9,393 11.8061 70. 11.5751 26.079 24,504 9.393 11,8061 49,477 47,671 Balances ag 8t 1 April Balance¥ as at 31 March 21,592 32.$60 47,671 57.064 All Sncorne and e¥JeThYiture ￿ derived ffDrn continuing activities. The statem￿1 of finanaal activities indvdes all gains and lossès re￿nISed in the year. LINCOLN CATHEDRAL LEARNING. ARTS, CULTURE EVENTS CIO AS AT 31 MARCH 2022 BALANCE SHEET 2022 2021 Notè TANGIBLE FIXED ASSETS CURRENT ASSETS Debtors Cash at bank 34.507 129,723 164,230 244 $0,861 51.105 Current Llabllltles Credit￿$ 107,166 3,434 NET CURRENT ASSETS 57.064 47,671 NET ASSETS 57,064 47.671 Fund￿ by: Unrestri¢led Funds Reslricted Funds El￿Ow￿8￿1 Funds 32.580 24.504 21.592 26.079 Total Fundi 57,004 47.671 AFvfov8d and aulhorised for issue on 2•Zt The Very Revewnd Christine Wilson Trustèe LINCOLN CATHEDRAL LEARNING, ARTS, CULTURE & EVENTS CIO Notes to the Flnanclal Statemenls for the year ended 31 March 2022 ACCOUNTING POUCIES.. Entlty Status The enth.ty is a charitable incorporated organisation registered with the Charity Commission in England and Wale5. BasFs of accountlThJ The financial statements have been prepared in accordancé Accounting and Reportlng by Ch8rities: Statemant of Recommended Practice applicable to charities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 Jar)uary 2019}- {Charities SORP IFRS 10211 and Ihe Finar)cial Reporting Standard applicable in the UK and Republic of Ire18nd (FRS 1021. The CIO is a Public Benefit Entity as defined by FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless othermse stated in the felevanl accounting policy notes. Fair value movements are dealt wtth through the Statement of Financial Activities. The financial Statements are presente(I In sterling which is Ihe functional currency of the charity arKI rounded lo the neare￿ £1. Going ¢on¢ern The trustees hav6 assessed whether the use of the going concem b8sis is appropriale and have considered possible events or conditions th81 mighl cast significant doubl on the ability of Ihe charity lo continue as a going concem. The Iruslees have made this assessment for a penod of al least one year from the date of approval of the financial ststements. In VMV of the level of assets held, the Irustses have concluded that there is a reasonable expectation that the ¢har¢ty has adequate resources to continue itb operational existence f salary costs for the year {2021.' £Nill. No reM￿￿ratiOn or expenses have been paid to any of the charity's truslees12021.. £Nill. See Note 8 for Prfor Year Comparatives 10 LINCOLN CATHEDRAL LEARNING, ARTS, CULTURE EVENTS CIO YEAR ENDED 31 MARCH 2022 NOTES TO THE FINANCIAL STATEMENTS Total Funds 2022 Total Funds 2021 4 DEBTORS Trade d8btors PrepayTnents 34.507 34,507 Totsl Funds 2022 Total Funds 2021 5 CREDITORS Tradè creditors Accruals Deferred income Other Creditors Due lo knncoln Cathedral Due lo Lincoln Cathedral MUS￿ Fund 659 3,009 102.755 147 3.390 24 20 3,434 107.166 6 MOVEMENT ON FUNDS Balance at 01-ApT-21 InGoming Outgolng Galnsllloss8sl 31-Mar-22 Balance at Current year Unrestricted Funds General Fund 21,592 42,335 31.3671 32,580 Rostrl¢t•d FuT7ds Lincoln Cathedr Organ Reeilals ncoln Cath￿ra1 IFabric Fund) 27,311 {1.301) 69 26.079 15,370 {20,9181 2,212 1217) 11,365 9,387 28,947 30,522 21,763 694 2,047 24.504 Endowmènt Funds TOTAL FUNDS 71.282 61,889 S7.064 LINCOLN CATHEDRAL LEARNING, ARTS, CULTURE EVENTS CIO YEAR ENDED 31 MARCH 2022 NOTES TO FINANCIAL STATEMENTS O IIOVEMENT ON FUNDS (CONTINUED) Balance at 01-Apr-20 Balan¢• at Outgolng Galnsl(losses) 31-Mar-21 Prlorytsr Incoming Unrèstrict•d Funds General Fund 23,456 663 2,527 21.592 Ro$trl¢t•d Funds Llnctsln Cathedral Organ Recitals Lincoln Cathedral (Fabric Fundl 27,596 11,8441 69 26,021 1551 415 12301 (721 27.311 (1.￿1) 360 1302 26,079 Endowment Fund8 TOTAL FUNDS 49.477 1.023 2.829 47,671 RESTRICTED FUNDS Llncoln Cath￿ra1 - Monles raised lo fund the adiviti•s of Llncdn Cathedral. Organ Recltals - Oryan recrtal actlvity during the year, to bo neutral In funding over future per1￿j$. spe¢ifically raised lo support thè work of Lincoln Calhedral. Lineoln Cathedral (Fabric Fundl- relates to monies 3pe¢ificalty rabwl to support the restoration and maintenance to the fabric of Lincoln Cathedral ASSETS BETWEEN FUNDS Unrestrlcted Funds Rgstrict•d Funds Totsl Funds Current y•ar Debtors C¥sh at bank Credltors 427 35.596 ,463 34,080 94.127 103,703 24.504 34.507 129,723 107,166 57.064 Unre¥trictsd Fund8 R•strlcted Funds Total Funds Prlor yoar D•bl¢r8 Cash at bank Creditors 244 24,782 3,434 21,592 244 50.861 3,434 47,671 26.079 28,079 12 LINCOLN CATHEDRAL LEARNING. ARTS, CULTURE EVENTS CIO YEAR ENDED 31 MARCH 2022 NOTES TO FINANCIAL STATEMENTS 8 INCOME AND EXPENDITURE PRIOR PERIOD COMPARATIVES 2021 Not Outgoing Contrlbutlon EVENTS Incoml Charitabh Activiles: Non-secular musical events Organ recitsl co￿rtS Halle Lecture Series The Snov*Tnan 20 415 20 343 172) 435 {72) 363 Ralslng Fund6 Theatre in the Nave Other fundraising Harvest Supper {55) (2301 12851 155} {2301 {2851 380 302 78 Unrestricted Restricted 20 20 58 302 302 380 2021 Total Funds EXPENOITURE Charltable Activit108 Ral$ing Funds Event Expendibjre Other charitable giving Support wsts Govemance.. Independent Examin8rs Fees 72 230 302 2.520 2.520 230 2.829 Charged lo Vr￿Stricted Funds Ch8rged to Restricted Funds 2,527 72 2.527 302 230 2.599 230 2.829 13 LINCOLN CATHEDRAL LEARNING. ARTS, CULTURE EVENTS CIO YEAR ENDED 31 MARCH 2022 NOTES TO FINANCIAL STATEMENTS 9. RELATED PARTY TRANSACTIONS Bal8rices at the year end are as detslled in Note S. these balances represent cash tran￿tiOnS frcsm (b)noTS not related to the entitys aclivilies. due to related parttres as detailed. There were no operational t￿nSactIOnS wlh relale(I partles during Ihe ygar. 10 ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY The ultimate parent unéertaking and controlling party is The Cathedral Church of the Blessed Virgin Mary of Lincoln. Copies of the group finanaal statements are available from the Chapter Office, 4 Priory Gale. ￿nCcAn. LN2 1 PL 14 ## CIO Accounts 31 March 2022 - signed by BHP Final Audit Report 2022-12-14 Created: 2022-12-14 By: Emily Jones (emily.jones@bhp.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAlViEMfZjznpt17a_0zrdRKxwMiEV2vbY ## "CIO Accounts 31 March 2022 - signed by BHP" History ## Document created by Emily Jones (emily.jones@bhp.co.uk) 2022-12-14 - 4:21:15 PM GMT- IP address: 81.23.52.242 Document emailed to Jane Marshall (jane.marshall@bhp.co.uk) for signature 2022-12-14 - 4:21:56 PM GMT ## Email viewed by Jane Marshall (jane.marshall@bhp.co.uk) 2022-12-14 - 5:50:11 PM GMT- IP address: 161.123.226.71 ## Document e-signed by Jane Marshall (jane.marshall@bhp.co.uk) Signature Date: 2022-12-14 - 5:50:45 PM GMT - Time Source: server- IP address: 86.185.110.208 ## Agreement completed. 2022-12-14 - 5:50:45 PM GMT