## ## ## |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
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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
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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|