CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From: 1 Sep 2023 To: 31 Aug 2024 Period stsrt date 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 sel 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. 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. Summary ofthe main aclivities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Para 1.17and 1.19 Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on publi 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 guldance Is relevant. Additional information loptionall You ma choose to include further statements where relevant about.. SORP referenGe 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 grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunleers Para 1.38 Other
Achievements and Performance SORP reference Summary of the main achievements of the charity, identifying the differen the charily s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. The Foundation receives donations from individtjals 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. Para 1.20 Additional infonnation (optionall You ma hoose to include further statemenls where rel8vant about.. Achievements against objectives set Para 1.41 Performance offundraisin9 activities against objectives set Para 1.41 Investment performan against objectives Para 1.41 Other
Financial Review Review of the charity's financial position at the 8nd of the period Para 1.21 The Charity had net payments of £16,504 during the year. This was due to additional Erants made to cover the first year of a 2 year commitment to funding an additional music staff member at the Cathedral. This was agreed to by Trustees as it could be funded from accumulated surpluses from the previous few vear5. The Trustees aim to maintain resee5 at a level which, taking into account anticipated future income, will match the requirement for grants in the future. The Charity held reserves of £1,568,029 at the year end. Nla Statement explaining the policy for holding reseeS stating why they are held Para 1.22 Amount of reserves held Para 1 22 Reasons for holding zero reserves Details of fund materially in deficit Explanation of any uncertainties about the chartty continuing as a going concern Para 1.22 Para 1.24 None Para 1.23 Nla Additional infomiation {optionall You ma choose to include further statements where relevant about.. The charity's priricipal The charity receives funds from individuals and sour$ of funds {including organi&ations with a specific interest in choral any fundraising) worship. Para 1.47 Investment policy and objectives including any social investment policy adopted 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 8rants which allow some growth. 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 turns. 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 our grants. Para 1.46 A description of the principal risks facing the charity Para 1.46 other
Structure, Governance and Management Description of charity's trusts.. Type of goveming document al c.liJrLei- How is the charity constituted? le g iii Ill".Lorporaled assoc,'alion CIOI 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 Declaration of Trust dated 6 October 1975 Para 1.25 Trust 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 (optionall You ma choose to include further statements where relevant about= Policies and procedures The Trustees review annually key contro15 to adopted for the induction mitigate risks identified related to investments and training of trustees Ispecifically the balance between sustainable income and capital growth) and expenditure. 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 cost5 as required. Because of the nature of its work, the Trustees work closely with the Dean and Chapter. Current Trustee5 include the Dean and Precentor of the Cathedral. The only related party is the Dean and Chapter of Bristol Cathedral. Para 1.51 The charity's organisational structure and any wider network with which the charity works Para 1.51 Relationship with any related parties Para 1.51 Other Reference and Administrative details Charit name Other name the charit uses istered charit number Charity's principal address Bristol Calhedral Choral Foundation 270373 Bristol Calhedral. BS15TJ
Trust•0 namè Office lif any) Dates acted if not for whole year Name of person lor bodyl entitled to appolnt trustee lif any) Richard Bacon Chairman Kathryn Goldsmith Stepped down 07101/24 Mark Lee Sarah Jenkinson Secretary Paul Dyke John Daverkport Jeremy Srokosz Treastjrer The Very Revd Dr Mandy Ford (Dean of Bristol) Elizabeth Parkes io Rustom Battiwalla li Helen Rowe 12 Cor orate trustees - names of the diredors at the date the re Oirector name rtwasa roved Name of trustees holdin Trustee name title to ro ert belon in to the charit Dates acted If not for wholè ear
Funds held as custodian trustees on behalf of others Description of the assets held in this capacity Name and objects ofthe charity on whose behalf the assets are held and how this falls within the custodian charity's objects Delails of arrangements for safe custody and segregation of such assets from the charity's own assets Additional infonnation {optional Names and addresses of advisers (Optional Information} Type of adviser Name Address Name of chief executive or names of senior staff members {Optional infomiation) Exemptions from disclosure Reason for non-disclosure of key personnel details Other optional information
Declarations The trustees decla that they have approved the trustses, report above. Signed on behalf of the charity's trustees Signaturelsl Full namelsl Position {eg Secretary, Chair, etcl Date
Trustse nam& Office Irf anyl Dates acted if not for whole year Name of person lor body) entitled to appoint trustee lif any) Richard Bacon Chairman Kathryn Goldsmith Stepped down 07101124 Mark Lee Sarah Jenkinson Secretary Paul Dyke John Davenport Jeremy Srokosz Treasurer The Very Revd Dr Mandy Ford (Dean of Bristol) Elizabeth Parkes io Rustom Battiwalla li Helen Rowe 12 Cor orate trustees - names of the dirertors al the date the re Director name ortwasa roved Name of trustees holdin Trustee name title to ro ert belon to the charil Dates acted if not for whole ear
Funds held as custodian trustees on behalf of others Descriplion of the assets held in this capacity Name and objects oflhe 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 Gharity's own assets Additional infomiation (optional) Names and addresses of advisers Ioptional infomiation) Type of adviser Name Address Name of chief executive or names of senior staff members (Optional information) Exemptions from disclosure Reason for non-disclosure of key personnel details Other optional information
Declarations The trustees declare that they have approved the trustees, report above. Signed on behalf of the charity's trustees Signature(s} Full namelsl l(ctttLts Position {eg Secretsry, Chair, etc) CUpaQ Date 17 Io
CHARITY COMMISSION FOR ENGLAND AND WALES stol Cathedral Choral Foundallon 270373 Receipts and payments accounts CC16a For the period from 01-Sep23 To 31-Aug-24 Section A Receipts and payments Unrestricted funds to the nearest Restricted funds Endowment funds Total funds Last year lo the nearest È to nearest E te the nearest £ to the nearest £ A1 Recelpts Legacy InvestmÈnl Incomè 44,432 230 44,432 230 43,084 330 Coiporale donalron5 ROYaeS 716 716 418 total f ross Income or ARJ 45,378 46.37B 43,830 2 Asset and investment sales. Isee table). total Total recelpts 45,378 45,378 43,830 A3 Payments Grants Adtblin 61,821 61,821 60 34,566 Sub total 61,881 61,881 34,626 A4 Asset and investment puichases, (see table) CBF Invèstmènt Fund Sharos Sub tolal Total payments 61,881 61,881 34,626 Net of roceipts/(paym8nts) A5 Transfers between funds A8 Cash funds last year end Cash funds thls year end 16,504 16,504 9.204 60,656 44,152 60,656 44,152 51,4S2 60,656 CCXX R1 accounts ISSI 22101n025
Section B Statement of assets and liabilities at the end of the period Unrestricted funds Restricted funds Endowment funds to nearest £ to nearest£ to nEare$t £ 81 Cash funds CAF BÈnk 6,503 C6F O&po6il FuDd 37.649 Total cash funds 44,152 laoree baignceswilh ieceipts and p6ymenls acwuDllsll Unrestricted funds Restricted funds Endowment funds to r*arÈ8t £ to nearest £ to nearest É B2 Other monètary assets CBF Investment Fund 1,471,384 CBF Pioperty Fund 52.492 to which a55et belon Dotails C05t loptionall Current value Fund lo which asset belo Current value o$t loptionall 84 Assets retained for the charity's ovm use Fund to V4hich relate5 Amount due lor1 When due B5 Liabilities Signed by one or Iwo trustees on behalf of all the IrLL3tees Signaturé Print Name Date of ioval RICHARD BACON CCXX R2 accounts ISSI 2210125
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 Bristol Cathedral Choral Foundation On accounts for the year ended 31$1 August 2024 Charity no (if any) 270373 Set out on pages I report to the trustees on my examination of the accounts of the above charity {"the Trust") for the year ended 3110812024. Responsibilities and As the charity trustees of the Trust. you are responsible for the preparation basls of report of the accounts in accordance with the requirements of the Charities Act 2011 {°the Acr}. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination. have followed the applicable Directions given by the Charity Commission under section 14515)Ib) of the Act. I have completed my examination. I confirm 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 accordanc8 Wlth section 130 of the Act or the aGGounts do not accord with the accounting records Independent examiner's statement I have no concerns and have come across no other matters in wnnection 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 braGkets if they do not apply. Signed: Dats: Namè: Relevant professional quallflcatlonlsl or body (if any}: Addrnss: 21 PAkTrri(JtrJ foaEf IER October 2018
Section B Disclosure Only complete if the examiner needs to highlight matters of concem (see CC32, Independent examination of charity accounts.. directions and guidan for examiners). Give here brief details of any items that the examiner wishes to disclose. IER October 2018