Trustees’ Annual Report for the period
From: 1 Sep 2021 Period start date To: 31 Aug 2022 Period end date
Charity name: Bristol Cathedral Choral Foundation
Charity registration number: 270373
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | As a matter of policy, grants are currently made only to the Dean and Chapter of Bristol to support the Choristers and the Choral Tradition. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
The Foundation receives donations from individuals and organisations and invest them in order to pay grants to cover the costs of the Choristers and other costs relating to the choir and the Cathedral. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The Trustees have complied with their duty to have due regard to the Charity Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant. |
Additional information (optional) You may choose to include further statements where relevant about:
| SORP reference | ||
|---|---|---|
| Policy on grant making | Para 1.38 | As a matter of policy, grants are currently made only to the Dean and Chapter of Bristol to support the Choristers and the Choral Tradition. |
| Policy on social investment including program related investment |
Para 1.38 | |
| Contribution made by volunteers |
Para 1.38 | |
| Other |
Achievements and Performance
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SORP reference
Summary of the main The Foundation receives donations from
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| Achievements and Performance | Achievements and Performance | Achievements and Performance |
|---|---|---|
| SORP reference | ||
| Summary of the main | The Foundation receives donations from | |
| achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | individuals and organisations and invests it in order to pay grants to cover the costs of the Choristers and other costs relating to the choir and the Cathedral. |
Additional information (optional) You may choose to include further statements where relevant about:
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| Achievements against objectives set |
Para 1.41 | |
| Performance of fundraising activities against objectives set |
Para 1.41 | |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Financial Review | ||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | The Charity had net payments of £245 during the year. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | The Trustees aim to maintain reserves at a level which, taking into account anticipated future income, will match the requirement for grants in the future. |
| Amount of reserves held | Para 1.22 | The Charity held reserves of £1,500,354at the year end. |
| Reasons for holding zero reserves |
Para 1.22 | N/a |
| Details of fund materially in deficit |
Para 1.24 | None |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/a |
Additional information (optional) You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | The charity receives funds from individuals and organisations with a specific interest in choral worship. |
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | Investments are currently only made with the Central Board of Finance of the Church of England Funds. Investments are allocated so as to continue the support of grants which allowingsomegrowth. |
| A description of the principal risks facing the charity |
Para 1.46 | The key risk to the Charity is the inability to pay grants as it has in the past. Grants to Dean and Chapter are made on an annual basis in accordance with an agreed schedule. The only significant underlying cause of this risk would be a significant reduction in investment returns. The Charity invests mainly in the investment fund of the Central Board of Finance of the Church of England Funds, sharing risks with many Church of England organisations. The fund has consistently paid increasing or at worst flat distributions that have supported ourgrants. |
| Other |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Declaration of Trust dated 6 October 1975 |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Trust |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | The power to appoint Trustees is set out in the Deed of Trust. The Trustees seek to appoint new trustees who bring required skill and experience to the trustee body. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 | The Trustees review annually key controls to mitigate risks identified related to investments (specifically the balance between sustainable income and capitalgrowth)and expenditure. |
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 | The Trust is set up to support Choral Worship in the Cathedral. It does this as a matter of policy by providing funds to cover the costs of the Choristers as members of the choir, along with ancillary costs as required. Because of the nature of its work, the Trustees work closely with the Dean and Chapter. Current Trustees include the Dean and Precentor of the Cathedral. |
| Relationship with any related parties |
Para 1.51 | The only related party is the Dean and Chapter of Bristol Cathedral. |
| Other |
Reference and Administrative details
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Charity name Bristol Cathedral Choral Foundation
Other name the charity uses
Registered charity number 270373
Charity’s principal address Bristol Cathedral, BS1 5TJ
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Names of the charity trustees who manage the charity
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Nam
e of
pers
on
(or
body
Dates acted if not for whole )
Trustee name Office (if any)
year entitl
ed to
appo
int
trust
ee (if
any)
1 Richard Bacon Chairman
The Revd Canon
2 Nicola Stanley
(Canon Pastor)
3 Mark Lee
4 Sarah Jenkinson
5 Christina Gorzkiewicz Secretary
6 Paul Dyke
7 John Davenport
8 David Torpy
9 Jeremy Srokosz Treasurer
The Very Revd Dr From January 2021
10 Mandy Ford (Dean of
Bristol)
11
12
13
14
15
16
17
18
19
20
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– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
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Type of Name Address
adviser
Name of chief executive or names of senior staff members (Optional information)
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Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
| A3 Payments Grants |
42,574 | 42,574 | 42,574 | 29,391 | ||
|---|---|---|---|---|---|---|
| Admin | 93 | 93 | 84 | |||
| - | - | - | ||||
| - | - | - | ||||
| - | - | - | ||||
| - | - | - | ||||
| - | - | - | ||||
| - | - | - | ||||
| - | - | - | ||||
| Sub total | 42,667 ' | 42,667 | 29,475 | |||
| A4 Asset and investment | ||||||
| purchases, (see table) | ||||||
| CBF Investment Fund Shares | -- | |||||
| Sub total | - | |||||
| Total payments | .1___ 4_2...6_61_1.,.1____ -.,.1._1____ -.11._ 42_,6 1111111161_.II.__ 2_9_.4..,75_.I |
|||||
| Netofreceiptsl(payments) | - |
245 | - | 245 | ., 16,196 |
|
| A5Transfers between | funds | - | - | |||
| A6 Cash funds last year end | 51,697 | 51,697 | 40,501 | |||
| Cash funds this | year end | 51452 | 51,452 | 56.697 |
| Unrestricted | Unrestricted | Restricted | Endowment | ||
|---|---|---|---|---|---|
| Categories | Details | funds | funds | funds | |
| 81 Cashfunds | ,g:~~:;~_si_tF_u_n_d_____ ......, _Total cash funds |
tonearest£ ,..._!~:-~:~.., 51452 |
tonearest£ tonearest£ E=B_:E=B_: E::::BE=:::J |
||
| (agree balances with receipts and | |||||
| payments account(s)) | OK | OK | OK | ||
| Unrestricted | Restricted | Endowment | |||
| funds | funds | funds | |||
| Details | tonearest£ | tonearest£ | tonearest£ | ||
| 82Other monetary assets | CBFInvestmentFund | 1,381,569 | |||
| CBFPropertyFund | 67,333 | ||||
| ---- | |||||
| 83Investment assets | 11-D-e-ta_il_s-------11 | = | 11~ot(•~•"f11c{;~::'jI | ||
| 84Assets retainedforthe charity'sownuse |
Details | Fundtowhich tb I asse eongs |
Cost (optional) | Current value (optional)--. |
|
| .. | |||||
| . | |||||
| . | |||||
| .. | |||||
| Fundtowhich | Amount due | When due | |||
| B5 Liabilities | 1----Deta;ls_ | ~~~ | |||
| 1 | 11 | ||||
| Signed by oneortwo trustees on behalfofall the trustees |
Signature | Print Name | Dateof | ||
| lJ~(~_ | RICHARD BACON |
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of erfisfL)L_ CATbiF.DfLAL. C_Hc)QA o foiJiJèNTioKI Charity no (if any) On accounts for the year ended 270373 Set out on pages {r[nA}br Ir.r.lude Ihe pocJe nLimbpr5 01 addilional shtiplsl I report to the trustees on my examlnation of the accounts of the above charity ("the Trust") for the year ended3 1 , OS , lQ*2L Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act'l. I report in raspect of my examination of the Trust's accounts Carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 14515)(b) of the Act. I have completed my examinatlon. I confimi that no material matters have come to my attention (other than that disclosed below.) in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance wilh section 130 of the Act or the accounts do not accord with the acGounting rècords Independent examiner's statement I have no conc8rns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Date: Signed: 2021 Name: &-Bv I IKI I Relevant professional qualificatlon(s) or body (if any): Address: .21 P4EI lThoRJ gr IER October 2018
Section B Disclosure Only complete ifthe examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief detalls of any items that the examinerwishes to disclose. IER October 2018