CHARITY COMMISSION FOR ENGI.AND AND WALES Trustees, Annual Report for the period From: 1 Sep 2024 To: 31 Aug 2025 Period start date Period end date Charity name: Bristol Cathedral Choral Foundation Charity registration number: 270373 Objectives and Activities SORP refÈren(t Pafa 1.17 Summary of the purposes of the charity as set out in its governing document 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 Cathedr31. Summary of the main activities in relation to those purposes for the public benefit. in particular, Ihe activities, projects or services identrfied in the accounts. Para 1.17and 1.19 Slatement confirming whether the trustees have had regard lo the guidance issued by the Charity Commission on public benefit Para 1.18 The Trustees have compSied 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 (optlonal} You ma choose to include further statements where relevant about.. SORP refèrence As a matter of policy, grants are currently made only to the Dean and Chapter of 8ristol 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 volunteers Para 1.38 other Achievements and Perfomiance SORP relerenee Summary of the main achievements of the Gharity, identifying the difference the charity's work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. The Foundation receives donations from individuals and organisations and invests them 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 information {optional) You ma choose to include further Statements where relevant about.. Achievements against objectives sel Para 1.41 Performance offundraisin9 activities against objectives sel Para 1.41 Investment performan against objectives Para 1 41 other Financial Review Review of the charity's financial position at the end of the period Para 1.21 The Charity had net payments of £14,261 during the year. This was due to additional grants made to cover the second 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 years. 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. The Charity held reserves of £1,510,343 at the yearend. Nla Statement explaining the policy for holding reserves 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 charity continuing as a going concern Para 1.22 Para 1.24 None Para 1.23 Nla Additional information (optional) You ma Choose lo include further statements where relevant about.. The charity's prinGipal The charity receives funds from individuals and sources of funds (including or8anisation5 Wlth a specific interest in choral any fundraising} worship. Pare 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 grants 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 tjnderlying 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 our grants. Para 1.46 A description of the principal risks facing the charity Para 1.46 Other Structure, Governance and Management D6scription of charity's trusts.. Type of governing document Para 1.25 Declaration of Trust dated 6 October 1975 How is the charity constituted? 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 lo appoint new trustees who bring required skill and experience to the trustee bodv. Additional information {optional} You ma choose lo include further statements where relevant about.. Policies and procedures The Trustees review annually key controls 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 5UPPOrt Choral Worship in the Cathedral. It does this 35 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 closelv with the Dean and Chapter. Current Trustees include the Dean and Precentor of the Cathedral. The only related party is the Dean and Chapter of Bristol Cathedral. P¥ra 1 51 The charity's organisational structure and any wider network with which the charity works Para 1.51 Relationship with any related parties Para1.51 other Reference and Administrative details Charit name Other name the charit uses istered charit number Charity's principal address Bristol Cathedral Choral Foundation 270373 Bristol Cathedral, BS1 5TJ Trustee name Office lif any) Dates acted if not for whole year Nam8 of person lor body) entitled to appoint trustèe lif any) Richard Bacon Chairman Mark Lee Sarah Jenkinson Secretary Paul Dyke John Davenport Jeremy Srokosz Treasurer The Very Revd Dr Mandy Ford IDean of Bri5toll Elizabeth Parkes Rustom Battiwalla io Helen Rowe li Melanie Takac Appointed from 11111124 12 Cor orate trustees- names of the directors at the date the re ortwasa roved Director narn8 Name of trustees holdin Trustee name title to ropert belon to the charit Dates acted if not for whole ear 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 inforniation) Type of adviser Name Address Name of chief executive or names of senior stsff members (Optional infonnationl 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 Signaturels) Full namels) Position leg Secretary* Chair, etcl Date AbJvAY CHARITY COMMISSION FOR ENGLAND AND WALFI Brl$lol Calhedrnl Choral Foundation 270373 Receipts and payments accounts CC16a For the period from 01-Sep-24 To 31-Aug-25 Section A Receipts and payments UnrgStricted funds to the near68t Restricted funds Endowment funds Total funds Last year to the nearo8t £ to thè rboarest £ ¢0 tho ngare8t £ to the nearest £ A1 Receipts Legacy Inve51meni income 44,2S7 1,230 44.237 1,230 44.432 130 Coiporale don81ion5 841 716 Sub tot81 (Gross income for AR) 46,308 46,308 45,378 A2 Asset and inve8tmont sales. tabl8}. Sub total Total recelpts 46,308 46,308 45,378 A3 Payments Grants Adfflin 60,509 60 60,509 60 61,821 Sub total 60,569 60,569 61,881 A4 Asset and investment purchases, Isaè tabl81 CBF Investment Fund Shares Sub total 60,569 60,569 61,881 Net of receipts/{payments) AS Tran$fors between funds A6 Cash funds last year ènd Cash fund$ this ygar end 14,261 14,261 18,S04 44.152 44.152 29,891 80.656 44.152 29,891 CCXX R1 accounts ISSI 1810112026 Section B Statement of assets and liabilities at the end of the period Unrestricted funds to nea￿St £ Restricted nds Endowment fund5 to nearESt £ to nearest £ 81 Cash funds CAF Bank 8,023 CBF Deposil FufKI 21,868 rotal cash funds 29,891 {aqrnÈ ￿eipts and mments a¢tOunt