## **Trustees’ Annual Report for the period**
**From: 1 Sep 2022 Period start date To: 31 Aug 2023 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**
**----- Start of picture text -----**
SORP reference
Summary of the main The Foundation receives donations from
**----- End of picture text -----**
|**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 receipts of £9,204 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 £1,471,821 at 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**
**----- Start of picture text -----**
Charity name Bristol Cathedral Choral Foundation
Other name the charity uses
Registered charity number 270373
Charity’s principal address Bristol Cathedral, BS1 5TJ
**----- End of picture text -----**
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Trustee name Office (if any) Dates acted if not Name of person (or body)
for whole year entitled to appoint trustee
(if any)
1 Richard Bacon Chairman
2 Kathryn Goldsmith Appointed from
10/10/22
3 Mark Lee
4 Sarah Jenkinson Secretary
5 Christina Gorzkiewicz Secretary Stepped down
09/01/23
6 Paul Dyke
7 John Davenport
8 David Torpy Stepped down
10/10/22
9 Jeremy Srokosz Treasurer
10 The Very Revd Dr Mandy Ford
(Dean of Bristol)
11 Elizabeth Parkes Appointed from
05/06/23
12 Rustom Battiwalla Appointed from
05/06/23
13 Helen Rowe Appointed from
05/06/23
**----- End of picture text -----**
– 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|Name of trustees holding title to property belonging to the charity|Name of trustees holding title to property belonging to the charity|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)**
**----- Start of picture text -----**
Type of Name Address
adviser
Name of chief executive or names of senior staff members (Optional information)
**----- End of picture text -----**
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
##
|Section A Receiptsand||||||
|---|---|---|---|---|---|
||Unrestricted
funds|Restricted
funds|Endowment
funds|Totalfunds|Last year|
||to thenearest|to thenearest€|to thenearestg|to thenearest€|tothenearest€|
||E|||||
|||||43,084|41,462|
|||||330|330|
|||||416|630|
|||||43,830|42,422|
||||43,830|42,422|
|---|---|---|---|---|
|A2|Asset and investment sales,||||
|||||r--=|
|||||I-1|
||Total receipts|43,830|43,830|ru|
||||34,566|42,$74|
||||60|93|
||||34,626|42,667|
|A4Asset and investment
CBF lnvestmentFund Shares|||r---l
l-r|
|---|---|---|---|
|Total payments
Netofreceipts/(payments)|34,626
9,204|9,204
26|r---:ffi]
f-
,rl|
|A5Transfersbetweenfunds||||
|A6 Cashfundslast yearend
Cashfundsthis year end|51.452
60,55€|51,452
60.656|I
51.6971
r-Tial|
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