OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

INDEX PAGE
Charity Particulars
Trustees'
Annual
Report		 2 —4
Statement ofTrustees' Responsibilities
Auditors'
Report		 6-8
Statement of Financial Activities
Balance Sheet 10
Cashflow Statement
Notes to the Accounts 12-21

Patron: The Late H.R.H. The Prince Philip, Duke of Edinburgh The Late H.R.H. The Prince Philip, Duke of Edinburgh The Late H.R.H. The Prince Philip, Duke of Edinburgh The Late H.R.H. The Prince Philip, Duke of Edinburgh The Late H.R.H. The Prince Philip, Duke of Edinburgh KG, KT
Trustees: The Very Reverend M Bonney (ex officio, Dean of Ely)
David Green (Chairman)
Mr C F M Rawlinson MBE
Mrs J Lewin-Smith DL
Mr
I Pattinson
Canon
P Evans
Reverend
Canon Dr. J Martin
Canon T Bellis
Isobel Philippa
Newport-Mangell		 (appointed 7September 2020)
Revd Dr Sir Ralph Wailer (appointed 7September 2020)
Correspondence Address: The Chapter House
The College
Ely
Cambs
CB74DL
Investment Managers: CCLA
80Cheapside
London
EC2V 6DZ
Principal Bankers: Barclays Bank Pic
28 High Street
Ely
Cambs
CB74LA
Auditors: Price Bailey LLP
Chartered
Accountants		 and Statutory Auditors
6 High Street
Ely
Cambridgeshire
CB74JU

2020 2019
Unrestricted Restricted Endowment
Funds Funds Funds Total Total
Note E E E E E
Income and endowments from:
Donations
and legacies		 2 121,197 41,887 28,716 191,800 143,638
Charitable
activities		 3,940
Investments 3 13,798 88,921 152,793 255,512 275,703
Total income and endowments 134,995 130,808 181,509 447,312 423,281
Expenditure
on:
Raising funds 3,117
Charitable
activities		 4 375,492 148,906 166,073 690,471 418,521
Total expenditure 375,492 148,906 166,073 690,471 421,638
Gains on
Investments 30,984 192,896 331,453 555,333 1,437,980
Net (expenditure)/income
for the year (209,513) 174,798 346,889 312,174 1,439,623
Net movement
in funds		 (209,513) 174,798 346,889 312,174 1,439,623
Reconciliation
offunds:
Total funds brought forward 515,818 3,246,074 5,577,726 9,339,618 7,899,995
Total funds carried forward 306,305 3,420,872 5,924,615 9,651,792 9,339,618

2020 2019
Note E E
FIXEDASSETS
Investments 9,279,793 9,174,460
CURRENT ASSETS
Debtors 155,508 82,875
Investment
Fund Deposits &
Cash at Bank 223,421 110,216
378,929 193,091
LIABILITIES:
Creditors: Amounts falling due
within one Year 6,930 27,933
Net Current Assets 371,999 165,158
NET ASSETS 9,651,792 9,339,618
CHARITY FUNDS:
Unrestricted
funds		 306,305 515,818
Restricted funds 3,420,872 3,246,074
Endowment
funds		 5,924,615 5,577,726
Total Fund Balances 9,651,792 9,339,618

2020 2019
Note E E
Cash flows from operating activities:
Net cash provided
by/(used		 in) operating activities 13 (658,908) (298,365)
Cash flows from investing activities:
Dividends,
interest and rents from investments		 255,844 275,703
Sale ofinvestments 450,000
Net cash provided
by investing
activities		 705,844 275,703
Cash flows from financing activities:
Receipt ofendowment 66,269 33,123
Net cash provided
by financing activities		 66,269 33,123
Change
in cash and cash equivalents		 in the reporting period 113,205 10,461
Cash and cash equivalents at the beginning ofthe reporting period 110,216 99,755
Cash and cash equivalents at the end ofthe reporting period 14 223,421 110,216

2. INCOME F ROM DONAT IONS AND LEGACIES
2020 2019
E E
Gifts 125,531 107,638
Legacies 66,269 36,000
191,800 143,638
3. INCOME FROM INVESTMENTS
2020 2019
E E
Investment fund —dividends and interest 255,274 275,578
Interest —deposits 238 125
255,512 275,703
4. CHARITABLE ACTIVITIES
2020 2019
E f
Grants to Ely Cathedral (note 11) 668,658 411,005
Support costs and governance 21,813 7,516
690,471 418,521

FIXEDASSET INVESTMENTS
2020 2019
E E
Market value at 1January 2020 9,174,460 7,736,480
Fund additions
Proceeds (450,000)
Gain in year 555,333 1,437,980
9,279,793 9,174,460
2020 2019
E E
Equities —UK 942,827 1,165,157
Overseas equities 6,301,907 5,247,792
Property / other assets 1,721,402 2,266,090
Cash 313,657 495,421
9,279,793 9,174,460
The historical cost of investments is64,850,223 (2019:65,300,223)
6. DEBTORS
2020 2019
E f
Income Tax Recoverable 10,004 3,000
Accrued income 66,666 79,875
Legacy 48,699
Ely Cathedral Enterprises Limited 2,700 2,700
Ely Cathedral Chapter 27,439
155,508 82,875
7. CREDITORS - Amounts Falling Due Within One Year
2020 2019
E E
Accruals 6,930 6,212
Ely Cathedral Chapter 21,721
6,930 27,933

FUND RECONCILIATION FUND RECONCILIATION FUND RECONCILIATION
Restricted Funds
The Trust's Restricted Funds'
E
Balance at 1January 2020 3,246,074
Net Movement for Year
Income 130,808
Expenditure (148,906)
Gains 192,896
Balance at 31 December 2020 3,420,872
6504,307); 25
'" anniversary
fund E6,812(2019:E6,414)
The Trust Restricted
Funds'
E
Balance at 1January 2019 2,726,302
Net Movement for Year
Income 168,023
Expenditure (144,501)
Gains 496,250
Balance at 31 December 2019 3,246,074
Endowment
Funds		 Endowment
Funds		 Balance at Balance at
1)anuary (Losses)/ 31December
2020 Income Expenditure gains 2020
21"Century
Endowment		 4,128,806 113,102 107,100 245,352 4,380,160
Friends ofCathedral
Music Choristership 68,554 1,878 3,000 4,074 71,506
Octagon Choristership 178,883 4,900 3,500 10,630 190,913
Ouseley Trust Choristership 152,603 4,180 3,500 9,068 162,351
Sinclair Choristership 923 8,576 9,473 55 81
Rawlinson
Fund Choristership		 228,433 16,257 12,000 13,574 246,264
Garfield Weston Choristership 394,802 10,815 12,000 23,461 417,078
Lantern Choristership 125,399 13,601 3,500 7,452 142,952
Quanea Choristership 299,323 8,200 12,000 17,787 313,310
Total Endowment
Funds		 5,577,726 181,509 166,073 331,453 5,924,615

Endowment
Funds		 Endowment
Funds		 Balance at Balance at
1January (Losses)/ 31December
2019 Income Expenditure gains 2019
21"Century
Endowment		 3,479,102 121,418 104,990 633,276 4,128,806
Friends ofCathedral
Music Choristership 58,594 2,045 2,750 10,665 68,554
Octagon Choristership 156,447 5,460 11,500 28,476 178,883
Ouseley Trust Choristership 128,070 4,470 3,250 23,313 152,603
Sinclair Choristership 2,403 9,582 11,500 438 923
Rawlinson
Fund Choristership		 188,947 16,594 11,500 34,392 228,433
Garfield Weston Choristership 333,877 11,652 11,500 60,773 394,802
Lantern Choristership 96,781 17,001 6,000 17,617 125,399
Quanea Choristership 255,418 8,914 11,500 46,491 299,323
Total Endowment
Funds		 4,699,639 197,136 174,490 855,441 5,577,726
needs further
extensive
major restoration
expendable
as follows:—		 .
The 21" Century
Endowm		 ent
Fund
is split bet		 ween
permanen
Permanent ~Ed
bl~		 Total
E E E
Balance at 1January 2020 3,519,801 609,005 4,128,806
Net movement 219,123 32,231 251,354
Balance at 31December 2020 3,738,924 641,236 4,380,160
Permanent ~Ed
bl~		 Total
f E f
Balance at 1January 2019 2,951,954 527,148 3,479,102
Net movement 567,847 81,857 649,704
Balance at 31December 2019 3,519,801 609,005 4,128,806
jU
0		 IO Ncr N j0
0		 Oll O
cr		 Id
IV
N		 I O IN
IC
0		 j
0'00		 4I
E		 WI 0 0'0
C		 0
4I
E		 WI cr
m
IV		 d'O m
N		 Ut
IV
N		 o
m		 Cl
CI		 N
Ih
lh		 m
Ch
00
o
m		 m Ql
IV
N'0
0
Cl		 0 Yl'0
4I		 WI N'0
0
Cl		 0 IC
10Il		 WI Vl
ID
OIIJ
d'
Ch
Ct		 ID 00 I/Im o O
~0		 tD
Vl
d
ID
Ih		 m 00
ID		 ch
0
0
C		 WI m
rI
\DmN		 d'
N
N		 0 0
0
C		 WI Ql
N		 IVo 00
N
C
4l0
IO		 Wl o
IV		 E
trl
m		 00
Dl
'll		 0
Il
C
IC		 WI O
00		 Vl
rhl
C
0
4I		 WI m
Clo
Cld		 o lr
Cl
'E
IO
ID		 0
0
Il		 WI IV
CO
rm
Itl
0000 Wl m
Ol		 00
04		 Wl o
IV
Ido
rv		 IO
0		 IJ Cl
th		 IO
0		 V
Olt
OI IC
IS V0 V0
Irl ITI
0 Ql
+
Il		 Cld I m01 Ut o
ID		 Cl
IU		 Ol IV Cl
m m r r m CC
CI
OZ
Z
IC0
Z00VV		 Uh
Cl
Z
4
Z
LU
IU
I-
Cl
LU
Uh
VI
d:
IUZ
4
0		 CL
0
IU
rO
0
rd
0
E
tU
0
N
tel
tU
II
V		 N
Cl
I-
N		 CU
IC
N
IU
IU		 N
'00
IL
4I
V
Olo		 IO
W I		 Nd
IV
CU
00
Ol
IV
CUo
d
Ol
IV		 O
I		 0
CO
r		 M
O
IO
IO		 00
00
N
r
o
N
0
Ol
ID
ClN		 IU
CL
Cl
Ql
tO
Cl
Cl
Cl
E
QIIJ
IU0
m
IO
IUtlC		 N
NE
OI
I-
N
~I		 CU
t
IC
N
Cl
Cl		 4l
CU
V
IUo
N
'00
0		 W
Vlt		 I Cl
ID
CI		 O
CO
N
cr		 00
I
00
0		 N
IO
CII
Ol
d
Ih		 crI0
cr
tC
IU
Z
0		 I/I
Z
d:		 jO
C
U		 Ct
E
N
Cl		 N0
00		 N0
CEIl
V		 Cl
tC0		 IO
tO
JQ		 0
IU
E
I
Cl
C		 00
JU
IU0		 I0
'0
Cl
V		 4lZ
Ql0
0Z

During the year the following other transactions During the year the following other transactions took place. 2020 2019
E E
Grants expenditure
Choristers 207,880 200,000
Other grants to Ely Cathedral 103,679 106,005
Fabric and maintenance grant 107,100 105,000
Covid grant 250,000
Tota I 668,659 411,005

13. Reconciliation ofnet income Reconciliation ofnet income to net cash flow from operating activities
2020 2019
Net income for the year
(as per the statement
offinancial activities)		 312,174 1,439,623
Adjustments
for:
Gifts ofendowment (66,269) (33,123)
Losses/(gains)
on investments		 (555,333) (1,437,980)
Dividends,
interest		 and rents from investments (255,844) (275,703)
(Increase)/ decrease
in debtors		 (72,633) (9,719)
Increase/(decrease) in creditors (21,003) 18,537
Net cash provided by/(used in) operating activities (658,908) (298,365)

Analy sis ofchanges
in net debt
At 1January Cash flow At 31December
2020 2020
Cash in hand 99,424 121,431 220,855
Cash held as part ofthe investment portfolio 10,792 (8,226) 2,566
Total 110,216 113,205 223,421

2019
Unrestricted Restricted Endowment
Funds Funds Funds Total
Note E E 6 E
Income and endowments from:
Donations
and legacies		 37,638 72,877 33,123 143,638
Charitable
activities		 3,940 3,940
Investments 16,544 95,146 164,013 275,703
Total income and endowments 58,122 168,023 197,136 423,281
Expenditure
on:
Raising funds 3,117 3,117
Charitable
activities		 99,530 144,501 174,490 418,521
Total expenditure 102,647 144,501 174,490 421,638
Net (losses)/gains
on
Investments 86,289 496,250 855,441 1,437,980
Net income/(expenditure)
for the year 41,764 519,772 878,087 1,439,623
Transfers between funds
Net movement
in funds		 41,764 519,772 878,087 1,439,623
Reconciliation
offunds:
Total funds brought forward 474,054 2,726,302 4,699,639 7,899,995
Total funds carried forward 515,818 3,246,074 5,577,726 9,339,618