2022-12-31-accounts

				Page
Reference	and Administrative Information
Report of	the Council			2 to 4
Report of	the Independent		Auditors	5 to 6
Statement	of Financial	Activities
Balance Sheet
Statement	ofCash Flows
Notes to the Statement		of	Cash Flows	10
Notes to the Financial		Statements		11 to 19

		FO	R THE YEAR E	NDED 31 DEC	EMBER 2022
						2022	2021
			Unrestricted	Restricted	Endowment	Total	Total
			fund	funds	fund	funds	funds
		Notes
INCOME AND
ENDOWMENTS FROM
Donations and legacies		2	200,871	500		201,371	98,887
Other trading activities		3	2,672			2,672	3,583
Investment income		4	182,721	14,282	67,857	264,860	262,250
Total			386,264	14,782	67,857	468,903	364,720
EXPENDITURE ON
Raising funds			30,586		12,064	42,650	36,215
Charitable activities
Grants and donations			257,105	15,000	30,000	302,105	290,554
Total			287,691	15,000	42,064	344,755	326,769
Net gains/(losses) investments	on		~815,002)	~64,038)	~303,829)	~1,182,869)	1,148,490
NET INCOME/
(EXPENDITURE)			(716,429)	(64,256)	(278,036)	(1,058,721)	1,186,441
RECONCILIATION	OF
FUNDS
Total funds brought
forward			7,032,737	503,052	2,357,746	9,893,535	8,707,094
TOTAL FUNDS CARRIED
FORWARD			6,316,308	438,796	2,079,710	8,834,814	9,893,535

			AT 31	DECEMBER 20	22
						2022	2021
			Unrestricted	Restricted	Endowment	Total	Total
			fund	funds	fund	funds	funds
		Notes		f.
FIXEDASSETS
Tangible assets		10	14,418			14,418	13,821
Investments		11	6,197,510	479,964	1,982,106	8,659,580	9,842,449
			6,211,928	479,964	1,982,106	8,673,998	9,856,270
CURRENT ASSETS
Stocks		12	1,145			1,145	1,182
Debtors		13	47,606			47,606	30,637
Investments Cash at bank and	in hand	14	35,088 105,216	~41,168)	97,604	35,088 161,652	35,174 185,752
			189,055	(41,168)	97,604	245,491	252,745
CREDITORS
Amounts falling due within
one year		15	(84,675)			(84,675)	(215,480)
NET CURRENT ASSETS			104,880	~41,168)	97,604	160,816	37,265
NET ASSETS			6,316,308	438,796	2,079,710	8,834,814	9,893,535
FUNDS
Unrestricted funds;
General fund						6,316,308	7,032,737
Restricted funds:
Music Fund						261,259	299,492
Choral Music Fund						177,537	203,560
						438,796	503,052
Endowment funds:		16
Endowment fabric	fund					2,079,710	2,357,746
TOTAL FUNDS						8,834,814	9,893,535

								2022	2021
							Notes	E
Cash flows from operating			activities:
Net cash		provided by operating activities						(287,892)	(81,629)
Cash flows from investing			activities:
Dividends,		interest and rents	from investment					264,860	262,250
Purchase		ofequipment						(1,068)	(13,644)
Proceeds		from sale of investments						981,683	491,455
Purchase		of investments						~981 683)	~642 532)
Net cash		provided/(used in) by investing			activities			263 792	97529
Change	in cash and cash equivalents			in the		reporting
period								(24,100)	15,900
Gash and		cash equivalents	at the beginning			ofthe
reporting		period						185752	169852
Cash and period		cash equivalents	at the end	ofthe		reporting		1f~g	~1~72

RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING	ACTIVITIES
		2022	2021
Net income for the reporting period (as per the
statement offinancial activities)		(1,058,721)	1,186,441
Adjustments for:
Depreciation charges		471	415
Gains on investments		1,182,869	(1,148,490)
Dividends, interest and rents from	investment	(264,774)	(262,424)
(Increase)/decrease in stocks		37	(563)
(Increase)/decrease in debtors		(16,969)	21,630
Increase/(decrease) in creditors Net cash provided by operating	activities	(~130605 @87~2	121 362 ~12!6
ANALYSIS OF CASH AND CASH	EQUIVALENTS
		2022	2021
Cash at bank and in hand		161,109	185,216
Notice deposits (less than 3 months) Total cash and cash equivalents		543 ~11~	536 ~1~72

DONATIONS	AND LEGACIES
		2022	2021
Donations		9,311	11,022
Legacies		161,878	56,440
Membership	subscriptions	30,182	31,425
		201,371	98,887

			2022f	2021
Charitable	trading	income	1,142	1,976
Friends Gatherings		income	1,530	1,607
			2,672	3,583

In 2022 of	the other trading	activities	activities	all was unrestricted	income (2021:E3,583).
INVESTMENT INCOME
					2022	2021
						E
Investment	income from quoted		investments		264,297	261,865
Deposit account interest					563	385
					264,860	262,250

TOTAL RESOURC	ES EX	PENDED
			Charitable
			Activities
		Basis of	Grants &	Raising	2022	2021
		Allocation	Donationsf	Funds E	Total f.	Total
Grants (Note 7)		Direct	300,000		300,000	288,500
Cost ofsales (Note	6)	Direct		560	560	401
Friends gatherings		Direct		37	37
costs
Postage, stationery	and	Usage		361	361	448
telephone
Salary		Staff time	1,745	15,705	17,450	16,875
Investments		Direct		12,064	12,064	9,188
management
charge Depreciation		Usage		471	471	415
Repairs and		Usage				124
renewals
Annualreport		Usage		3,902	3,902	3,702
Newsletter		Usage		3,314	3,314	2,720
Audit fees		Direct	360	3,240	3,600	3,660
Bank Charges		Direct		440	440
Legal fees		Direct		1,650	1,650
Trustee Insurance		Direct		678	678	678
Sundry expenses		Direct		228	228	58
			302,105	42,650	344,755	326,769

			2022	2021
				E
Sales
Christmas	cards		985	1,841
Ties			157	135
			1,142	1,976
Cost ofSales
Christmas	cards		(425)	(534)
T~es			(135)	133
			(560)	(401)
Gross profit on trading		activities	582	1,575

CHARITABLE GRANTS AND DONATIONS
		2022	2021
		E
Grants to the Dean and Chapter for the benefit ofthe Cathedral		300,000	288,500
The grants to Dean and Chapter for the benefit ofthe Cathedral	are analysed	as follows:
		2022	2021
		E
Library 8 archive		5000	5,000
Fire door in tower			5,000
Choral scholarships		15,000	15,000
South quire scaffold		50,000	30,000
Stonemasons ln House Projects		26,722	50,000
Education ofstonemasons		3,500	2,500
Image screen			(9,376)
Monument repairs			3,000
Brewer Door Lobby		60,000
Stonemasons —Labour		110,000	18,786
Extraction ofSalcombe Stone		13,000	11,000
Preliminary Work to Vestries WC		13,000
Beer Quarry geology			6,000
Chapter House lighting		3,278	125,000
Stained glass windows Other		500-	26,590
		300,000	288,500

STAFF COS	TS
						2022	2021
Wages and salaries						17,450	16,875
The average	monthly	number ofemployees		during	the year was as follows:
						2022	2021
Administration						1	1
No employees	received emoluments		in excess of		F60,000.
TANGIBLE ASSETS
					Office
			New Desk		Equipment		Total
							K
COST
At 1 January 2022				13,644	2,926		16,570
Additions				1,068			1,068
Disposals
At 31 December	2022			14,712	2,926		17,638
DEPRECIATION
At 1 January 2022					2,749		2,749
Charge for year				294	177		471
Elimination on disposal
At 31 December	2022			294	2,926		3,220
NET BOOK VALUE
At 31 December	2022			14,418			14,418
At 31 December	2021			13,644	177		13,821

	THE FRIENDS OF EXETERCATHEDRAL	THE FRIENDS OF EXETERCATHEDRAL	THE FRIENDS OF EXETERCATHEDRAL
	NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
	FOR THE YEAR ENDED 31 DECEMBER 2022
11.	FIXEDASSET INVESTMENTS
	Analysis ofchange in investments	during the year:	2022	2021
	Market value at 1 January 2022		9,842,449	8,542,882
	Additions at cost		981,683	642,532
	Disposals		(981,683)	(491,455)
	Net (Loss)/Gain on revaluation		(1,182,869)	1,148,490
	Market value at 31 December 2022		8,659,580	9,842,449
	Cost at 31 December 2022		6,326,262	6,326,262
	CBF Investment Fund		7,635,526	8,654,278
	Charles Stanley Portfolio - listed		919,462	1,083,458
	Charles Stanley Portfolio - cash		21,658	22,600
	Cambridge &Counties Fixed Rate Bond		82,934	82,113
			8,659,580	9,842,449
12.	STOCKS
			2022	2021
	Ties 8 Cards		1,145	1,182
13.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
			2022	2021
	Income tax recoverable		4,951	5,498
	Legacies receivable		12,700	25,039
	Other debtors		29,955	100
			47,606	30,637
14.	CURRENT ASSET INVESTMENTS
			2022	2021
				F
	Cash equivalents on deposit		35,088	35,174

CREDIT	OR	S: AMO	UNT	S	FA	LLING	DU	E WITHIN O	NE YEAR
										2022	2021
Grants outstanding			to Dean		and Chapter					77,019	203,401
Accrued	expenses									7,656	12,079
										84,675	215,480
MOVEMENT		IN FUNDS
Endowment		Fabric	Fund
										Gains
					At	1Jan.		Incoming	Resources	and	At 31 Dec.
						2022		Resources	Expended	Losses	2022
									F
Endowment		Fund		2,357,746				67,867	~42,064)	~303,829)	2,079,710
The fund	is represented			by:
										2022	2021
NatWest	Bank									97,604	71,811
Charles	Stanley Portfolio									941,120	1,106,058
CBFChurch		of England		investment			Fund			1,040,986	1,179,877
										2,079,710	2,357,746

			At 1Jan.	Incoming	Resources	Gains and	At 31Dec.
			2022	Resources	Expended	Losses	2022
			E			E
Music Choral	Fund Music	Fund	299,492 203,560	8,795 5,987	(8,925) ~6,075	(38,103) ~25,935)	261,259 177,537
			503,052	14,782	~15,00D	~64,D38	438,796

The fund is represented	by:
			2022	2021
			F	f.
CBFDeposit Account			543	536
NatWest Bank			(41,711)	(41,486)
CBFChurch of England	Investment	Fund	479,964	544,002
			438,796	503,052