We$tmln$trr Cathedral Cholr School Fund Annual Reportand Accounts for thè >par ended 30 S¢ptember 2024 Charity Regthtion Nurnber 27e878
WÈSin5ter Cathedral Cholr Sehod Fund Aecoufits br the swr ended 30 September 2024 Contents Pages Legal and •Jministrab"ve information Trustees. report 10 Independent exanNnerfs report Staterrent of financial activitj'es 12 Ba1ce sheet 13-14 Prinrypal aOuntr.ng POIleS 15-17 Notes to xcourrts
W•strrinstsr Cathadral Choir School Fund unts Yor the yèar •nd4d 30 S•ptember 2024 Legal and Administratiw Information TrugtO8# Joanna Stophens Mark Collins Helena Pty•vell Joanna Stephens Principal •drS 24 Hacketts Lane Woking GUZ2 8PP Charity reglstratlon number 276878 Independent Examln Pètèr Hill FCA Hiltyate5 Hill House, 27 Meadowford Newport. Saffron Waklen Essex C811 3QL Accountants 8uzzacott LLP 130 Wood Street London EC2V 6DL InvestThpnt rnanagers Charles Stsnley and Company Limrted 25 Ropemaker Pkce London EC2Y 9LY Bankern The Royal Bank of Scouand pk 1 Fleet Street London EC4Y 1BD Page 3
Westminster Cathedral Choir School Fund A¢Trts forthe Jar ended 30 September 2024 Tmstees. Report The trustees present their ststutory reporl together wth the accounts of the Westminster Cathedral Ch(Ml SGhool Fund for the year ended 30 Septett&ei 2024. The accounts have been prepared in a¢cordance 1th the accounting policiès set out on pages 13 and 14 of the attached accounts and comply ¥Mth the charity's trust deed. applicable laws and Accounting and Rèporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounls in accordance the Financial Reportin9 Standard 8pplicable in the UK and Republic of Ireland IFRS 1021- Governance, strucrn and Management Governance The fund is constitijted by a trust deed dated 26 septener 1978 and 15 Wstered 1th the Charity Commission, Chartty Registrab"on No. 276878. Under the trust deed, the power of appointment of trustees was vested in Cardinal Basil Hume, during his lifetime and thereafter in the existing trustees. Since Cardirlal Hume's death in June 1999, the power of appointment of trustees is now vested in the trustees. Trnstèes The tnjstees in office thring the year vre as follo1." Mark Collins Joanna Stepher Helena PothEII On agreeing to become a Irustee of the charity. the trustees are thoroulY briefed by their Co-trustees on the history of the trust. the day-t0418y ManagennI. the responsibilities of the trustees, the rrent obiectNes and future plan5. The trustees are also encouraged to attend any courses vhich they feel are relevant to the developnnt of their role, and to keep u10-date on any changes in legislats'on. No trustee received any remuneration for services as a trustee P023- £nil). No trustee received reimbursement of expense5 (2023 - £nil}. Trustees. Responsibilities statet The trustees are responsible for preparing the trustees. report and accounts in accordance ¥Mth applicable law and United lfjngdom A¢¢ounting Stsndards (Untted Kingdom Generally Accepled Accounting Practice). The law appli(ble to chartties in England and Wales requires the lJustees to prepare accounts for each finant?al year vthich gve a twe and fair wew of the state of affairs of the charty and of the income and expenditure of the charity for that period. Ptge 4
Westminster Cathedral Choir School Fund pounts for the year ended 30 Septembèr 2024 Trustees. RepDrt (continued) Trustees. Respon¥ibilities Statrment Icontinuedl In prepanng these accounts. the trustees are required to.. select surtable accounttng policies and thèn appty them eonsistenlly. observe the methods and principles in Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charItS preparing their acctsunts in accordance with the Finaneial Reporting Standard applb in the UK and Republic of Ireland IFRS 1021", make judgements aThJ estinHt85 that are reasonable and prudent". state whether applicabk Unrted Kingdom Accounling Standards have been folkjwed. subject to any material departures disclosed and explained In the accounts.. aThJ prepare the accounts on the going eoncern basi$ UhsS rt is inapproprMte to presume that th8 charity will o)ntinue in operation. The trustee5 are responsible for keeping proper acntIng records that disclose wrth reasonable accuracy at any time the financial posib.on of the charty and enable them to ensure that the accounts comply wrth the Charrties ALI 2011, the applicable Charrty IA¢counts and Reports) Regulations and the provisions of the ¢harrtl5 constitution They are also responsitAe for safeguarding the assets of the charrty and hènce for taking reasonable steps lor the preventM)n and deteclK)n of frauo and other Irregularf(ies. The trustees are responsible for the maintenanee and integrity of thè charty and financi81 information included on trFtr charity commission'5 bsrte. Legisi4tK)n In the Unf(ed Kingdom goveming the preparation an¢J dissemination ol aeeounts Y differ from 9slatiOn in otheriuiisdictions. structur• and Management Rwrting Thè trustees are uttirnatety rèsponsible for the pol1$. artwrties and assèts of the charty. They currently et remotely by Zoom at least annually to review thè devek)pments with regard to the charty, rts grant 9Ning activities and to make any Important decisions When necessary. the trustees seek advice and support from the charitys professional 8thiiser5 Including investment managers and accountants. The day lo day management of the chariws activrties. and the implementstion of policies. is carried out by Joanna Stephens who ensures that grant payments are administered whilt the books and record5 01 the charty are maintained by Buzzacott LLP. Chartered Accountants. At their meetings the twstee5 review the investrrent performa and the proposals for grant5 to be made and approve such grants as appropriate. Risk Man•Jement The trustees have assessed the major risks to whh the charty is exposed. in particular those relating to the specnlc operational arèas of the charty. rts Investmènt5 and f(s finances. The trustees believe that by rrK)nrtonng reseNe levels, by ensuring Controls exLSt over key financial systems. and by èxamining the operational and business risks faced by the eharty. they have èstab115hed effective systems to mth.gate those risks. In particular. investments are reviewed at rrtonthly intervals during the year. Page 5
Woslmlnstsr Cathedral Chok School Fund Acwiftts for the ytarended JO September 2024 Trustees. ROrt I¢cntlnuedl A¢Wvltle& Spelfic ObJeetlv$ artd Rdevant Pollcles Chadtabl• ObltiveS The incorr¢ of the trust fund is to aFphed b rèligK)us bcdi8S ty wormte Ihe RoffBn Catholic faith In Dio¢w&o of Westminstsr and In VIng ofgrants in awj ofthe W88ts)nr Cath•drdl Choir sc01. Actlvttles The Trusys inry)rrB is dtsrrved from its invesknents and interest 88mad. 8Fpld in making grants that promots the Roman cathol faith in ts Diocesè ofwestrtinsier. sir its ileP.0n in 1978 Iha fvnd has Ve £1.413,948 in donatbjrs. During ts sanw period an invesrn8nt fijnd 01£3.649.293 I5 b88n up wlil& ants Of£4..&24 trve madg b) the thol. This year, the trustees re(Died rK> unrèstrictsd donatNJns13)rJ- £nill and made grants ID Ihe school of £1,(j){2023- £90,(KKJI. The trtstse5 wode an 8d(htw)nal grant of£15.CW, lin ex$$ of th8 amount weviously agrgad for 20241 as wdl asa gpant anhjuntof £1LS.1)JJ forthe 3)25 year rTK)V0nt in frJnd5 forthe yaar 1$ thown in slatnent Offinral acti¥iti8s on ge 11. Grant Maklng Pollcy The trustses nsra["t?tions from Iknrr ofthe c1r wnciFelty to nèttha costs of choristèr5 which are notothgwse m?t out of fees. They al) wder1equeStsfr0rn the Gov8mor5 frjr exceptonal rtEms needed for the benefft of Choir School. Investsnent Poll¢y- Asset Allo¢allon Chartes Stanley anfl Corrpany Linrted ad as rdian. holrfing th8 Fxjthlv) of inv8strnts in th8ir no1 narTE IRock Nomites Limitsdl. Their brief iD ae. build up aThY tnanage an investrnt portfolio on a $etOnary ba515. in 8CuJrdan the Inth, investment pdy. At 30 Septsmber I4. the thanty had a pDthlio of inVesnts a markel value of £3.649,293 12023- £3,259.5581 The cash held perrry Investrnent at X) Septenkner 2024 Vf4s£14.711 12023- £nill. Thore are no rnstn¢s on Ihe charttys [x)r to 4lV8St The investrmntstratsgy ts s&t by trustee$ and takes into acCourtints) requirtm&rits. the risk Fxofile arxl the invesbrnt rnana98rs wew of tnarkgt prosp2cts in th• rmdium IBmi The overall investh%nt P)IY Isto rnaMISe kntsl rètum throuth a diversfied portfol, 21ming to provide the level of Ir0[r advts8d by tre true8and. at Ihe sarM tifr. a view of ensuring that appreoation of lh2 •x(8ds inllabon over any fve ytar period. Page 6
Westminster Cathojral Cholr School Fund unts forthe year Ènded 30 September 2024 Trustees, Rert Icontinuedl Investmènt Policy- Asset PJlocation Icontinuedl In line wrth the reseNe$ policy. the trusteÈs hove instructèd the investnt managers to Invest the capitsl of the Fund to produce a balance ol inixjme and caprtal growth. to maintain a medium risk profile. and to maintain a spread of investments bets¥een fLKed interest securities and equrties in such a way as to meet the recurring ènnual expenditurè of the Fun¢J. To meet these obje¢lNes thè asset 811ocation and strategic range. as at 30 September 2024. is as folbws.. Rang• 10%-40% 30%- 90% 0%-10% 0%-50% UK fixed inter8s( preference stcck and unit trusts UK equib"e5 Overseas equthès Cash 579% 82 20% 11 61% 040% Thè benchnmrks for mèasuring perf0mnC are the FTSE Prwate Iwwestor Balanced Index and th8 FTSE All Share Index. Dunng the year to 30 September 2024 the lund increased by 10.44% 12023. decraased by 16.19%) compared to the FTSE PrN8tÈ Invèstor Balanced Index, whh increased by 13 04% and the FTSE All share index benchmarf( which in¢reased by 13.40% Constraints are as follows". 1. Not more than 8% of the fijnd should be invested in any one stock, oth•r tran cdlectves and gitt Èdged stocks, unless expressty agreed by the trustees. No n6w investment shall exceèd 6% of the total valuè of the fund. 2. The income of the fvnd should be desvJned to grow at least in line with inflation Total inco shoukl be not less than £70.000 per annurn from the year beginning 1 October 2009. 3. underiting of new issues L% permrtted up to 6% ofthe totsl value ofthè fund. 4. The policy $tsterrtnt revkw perkxl 1$ every tM40 years and the performance ol the InveStEnt managers is rrKnitorèd at le8St every six months. 5. A minimum of 10% of the totsl value shovld be held in Bonds or cash to meet thè tèrmly grants of £30,000 to the choir school, payablè in Seplember, January and April. 6. Ethical considerabons are not to invest In companies. whose aCtMtS are oppo$ed to the teaching of the Roman C81holic Church. 7. Up to 30% of the total value of the Fund may be invested in Companies wth an 8qurty market caprt21isation of less than £200m, 81though this level may rfdesired be extended to 35% forspecial reasons and for a limrted perKsd only. The trustee5 consider that their investment poly B being salisfadority impkmenled. Achievemants and Perf0mnCe Rewew of Activities Total investment income iec8Ned in the year anv)unted to £135.015, which equatos to a weld of approximately 3.68%. Thè trustees aYrJTded grants of £105,000 durin9 the year forthe 2025 year and an addftional £15,000 for the 2024 year in accordance with the charity's grant rrydking poli¢y set out above. Details of the grants made are provided in note 3 to the attached accounts. The trustees feèl that their objethes have been adequately met during the year. Page 7
Westminster Cathedral Choir School Fur counts for the year ended 30 September 2024 Trustees. Report Intinued> Review of ZtIvitieS leontlnued) However, the trustees are aware thatthere are extemal faclors which wuld affect thè achievements of th8r objectives as a significant part ot the chanvs assets are made up of investments and cash, the results of wh&ch are dependert on the generèl performance of the UK and ovetseas St markets I order to minimise this. the trustees have set prudent invèstrnent p)licies and pl8¢e reliance on the investment managers to monitor and advise on the necessary investsnent changes an¢J surtai4e asset allocation. Financial Review Results for the yEar A summary ofthe years re¥utts can be found on toge 11 of the reFQrt and ac(x)unts. During the year ènded 30 September 2024, totsl in¢ome amounted to £135,01512023- £128,722), bwng income ari8ing from the chanty's investments and cash deposrts. The trustees made grants to Westminster Cathédral Choir School Fund trltslling £120.CM)012023- £,0001. After deduthng the costs of raiwng funds of£21,79012023- £20,924) and suprx)rt CC6ts of £8,310 12023- £9,94811, the net pOs.0n for the year before invesknent gains was a deficit of £15,085. 12023 suru8 of £7.8501. Therè were net investment gains during the yeaT of£378.538{2L3- gains of t260,2881. This resumed In a net Increase in funds during the year of £363.45312023- increase 01 £268,138> The net assets of the ehaisty at 30 September 24 tot*led £3.607,54212023- £3,244,089). Reserves Pcll¢y and Financial Posltoon Reserves Policy The trustees aim to maintain an expendable end(wKnent ftjnd of suffiaent size to rneet the financial need5 of tha Choir School. Suffiaent reseNes are hdd in cash to meet the terrnly awards and running costs. The balance of funds are invested to provide a level of income commensurate the level of normal recurring expandture_ The trustees are of the opnion that the current level of reseNes kYovide8 suffic•ent flexitx.lty to Cover ttsrDwrary shortfalls In Incoming resources [e to brning drfference in income flows. Financial Po$rtion The balance sheet Sho totsl funds lantj free reserve51 of£3.607.542 at 30 Serrtember 2024 12023_ £3,244.0891 The tiustees consider that this level of free reserves matches the pararnet8rs Set out in the charity's reserves policy atx)ve and they. therefore, ¢on%der free reserves to be adequate but not excessive. Page 8
Westminster Cathra1 Choir Sch1 Fund Acwunts fw the year ended 30 September 2024 Trustees. Report {continuedl Future plan$ The trustees do not an11pate any snificant changes to the charty or rts artNf(Es over the next vo to fve yèars. It is thèir Intèntsn to meet the foll1ng objectwes.. To monf(or the investrnent perfomance so that il at all possible rt achieves the criteria Set by them 50 that there are sufficient fund5 to meet their grant giving policies. - To ¢onth"nue to make grants al a similar. rf not higher level. Publlc benefit The trustees confirm that they have h&J régard to the Charity Comrr#ssion's guhlance on publK benefrt Independent examiner The independent examiner. Mr Peter Hill. wll be proposed foT re-appointrnent Approved by the trustees and sned on thèir bèhay by.. Trustee Approved by the trustetrs on". 9 June 2025 Page g
Westminstor Cathedral Cholr Seh<>ol Fund Accounts for the year ended 30 September 2024 Indèpèndènt Examiner's report to the Trustees of Westmlnster Cathèdral Cholr &hool Fund I report to the trustees on my examinab.on of the accounts on pages 11 to 17 of Westminster Cathedral Choir School Fund I'the truBII for the year ended 30 September 2024 vthieh comprigè thè statement of Financial Actwrties. the Balance Sheet, Principal Accounb"ng PoliCS and rèlated notes. This report 15 made solely to the charitls tnjstees. as a body. in accordancè sedion 145 of the Charrties Art 2011. My work has been undertaken so that I mwht stale to the chartys trustees those matters l am required to stste to them in thB report and for no other purpose. To the fu51est extent permitted by law, I Ilo not accept or assunk Tesponsibilty to anyone otherthan the charty and the charVc*s truste¢$ a$ a tx)dy. for nw work. foT this report. 01 for the opinions I have fOrrd Responsibilities and basis of rOrt As trustees of the charity you are responsible for the preparation of the accounts in accordanc8 wth th requirements of the CharrtÉs Act 2011 1.the ACVI. I report in respect of my examination of the chartys accounts camed wt under section 145 olthe Act and In carrying out my éxaminahon I have folk)wed all thè applic8ble DIrectn5 gNen by the Chaity Commission under section 145(5Kbl ol the Act. An Indèpendent examination does not invOe gathering all the evidence that would be requi in an audr( and consèquently does not cover all the mattèrs that an aud((or eonsidèrs in gwing thèir opinion on the accounts. The planning and conducl of an audrt goes beyond the limited assurance that an independent examinats.on can provide. Consequentty l express no ownion as to whether the accounts present a'true and faiff view and my report is limited to those specific matters set out in the Independent examirerfs 5tsterrent. Independent examiner's $Lement l Confirm that l am qualffied to undertake the examinats'on because l am a member of the ICAEW whh is one of the listed boc5ies I have completed my examination. I confirm that no material matter5 have ¢grrp to my attention in connech.on wrth the examination gmng me cause to believe that In any material respect.. accounting records were not kept in iespect of the charty as required by Section 130 of the Act," or • the accounts do not accord wf(h those records". Of the accounts do not comply wrth the applicable requirements concerning the form and content of accounts set out in the Charrties (Accounts and Reports) Regulations 2008 otherthan any requirement that the accounts give a Xrue and fairf vwi which is not a matter considered as part of an in(Jependent examination. I have no concerns and have come across no other nwtters in connection wrth the examination to Ythich attention should be drawn In this report in order to tnabltr a propel UnderStandj of th8 a(xounts to be reaoled. Hillyatès. Chartèrèd Accountants Hill House 27 Me8dowford, Newport Saffron Walden E55ex. C811 3QL 7.L Peter WTlliam Hill. FCA Independent Ex8ryNner qJ Payè 10
stminster Cathedral Cholr School Fund P&cnts fDr the spar ended 30 September 2024 ststement of Flnancial ActliAttes Unrestricted fijnds 2024 2023 Inwme frorn- Investments Bank Interest T¢tsl income £ 133,637 1 378 135.015 128,107 615 128.722 Expen¢Jllure on: Raisng funds Charitable activrties Total ÈxpendltUTe 21.7 128.310 £ 150,100 20.924 99.948 12D.872 Net lexpendIrenxne before Investrnent galns and lo$$es 115.0851 7,850 Net gains on the revauakn.on disposal of investments Realised Unrealised 68.558 £ 3C6,980 9,460 250.828 Net mov•mwt In fvnds £ 363.453 288,138 Fund balance brought fonvard at 1 Oetcthr 2023 £ 3,244,089 £ 2.975,951 Fund balance carrfed fonpRrd at 30 SeNnber 2024 £ 3,607.542 £ 3,244,089 connY1n9 operaOn$ l ofthe tNitJ'es of the Chartywere derived from conb"nuing oper"ons thring the above tsyo finclaI ye8r5. P•Je 11
Westrninst•r Cathwjrol Choir School Fund Accounts for tho year ended 30 Septsmber 2024 B•lan¢e Sheet 2024 2023 Flxed assets Investments al Thrket value Cash awarting investrr*nt 3,649.293 14.711 3,259,558 3.664.004 3,259,558 Current assets Debtors Ca$h at bank and at lund managers 1.228 61,191 62,419 1,228 86.283 87.511 Current liabilities Amount committed to the School 214r25 Othar erÈdrtors (105.OCKII 13.881 Igo.0001 12.980 Net current a¥sets 156.4621 115,4691 Net assets £ 3.607.542 £ 3,244,089 RÈpr•sented by: Funds and Reserves Income lunrts UnrestrKted funds £ 3,607.542 £ 3,244,089 Approval ofthe knunts For the year ended 30 September 2024 We approve the accounts 58t out on pages 11 to 17 and Confimi that to the best of our knowledge we have made available all relevant records and inf0mtion fortheir preparation. Approved by the trustees and signed on their behaK by". Tru5188 Approved on". 9 June 2025 Page 12
Wejtnynster Cathadral Choir School Fund unts for the year ended 30 Septtmber 2024 Princlpal Accounting Polhcies Basis ofAcwunting The accounts have been prepared under the historical wst convention wth items reeognise(S at C05t or transaction value unless otherwise stated in the r8l•vant aeeounling policiès below or the ntstes to the$e accounts The accounts have been prepared in aecordance wrth Accounkn"ng and Reporting by Charititss." Statemant of Recommended Practice applicable to Chare5 prepanng their a¢¢ounts in accordance wrth the Financial Reporting Standard applicable In the UK and Republic ol Ireland Icharities SORP FRS 1021. the Finaneial Reporting Standafd applKable in the UK and Republic of Ireland IFRS 1021 and the Charits'es Act 2011. Th8 ch8rty constrtutes a public benefit entty as ¢Jefined by FRS 102 The accounts are presented in sterling and are rounded lo the nea$t pound. Income Income is recognisèd In the perKx1 in which the charrty is entrtkd to recwpl and Ihe amount can be measured th 8$Onable rtainty. Income is deferred onty when the charty has to fijlfil condrtions before becoming ented tts it or where the donor or frjnder h85 SFrfthed thal the incowe is to be expended In a futu accounting period. Dividonds and Interest Dwidends are included ln the Statement of Financial Actwbes when they are recewable. Bank and other interest is included in the StsteWTrt of Financial ActNIt$ on an accruals basis. Realised Gains or Losses on InVestnts Realised gains or losses are calculateL1 by ¢Jeduth"ng the opèning markot valuè of the invostmgnts from the pn)ceeds recewed on the sale of those InvestrrEnts. ExpÈndirt and thè Basis of App)rtioning Costs Expendf(ure L8 incSuded in the Statement of Financial ActNrt when incurred and includes attn'butabse Value Added Tax which cannot be recovered. Expendrf£ure comwises the followir¢g". Raising Funds Expendrture on raising funds Consists of the costs incurred In generatmg investrnent incorr. 8. Charitable I]vItieS Grants to ttte sohool are charged to the Stalement of Ftn8ncial Athth"es in the y8aY in which they arè authonsed by the trustees. This means that the lermly 8W8rds are 8Kvays shown for the following schokstie year. C. Support Costs Support CQs1s ¢omprisè those costs which cannot be directly alloc8l&Y to the charty5 actmties These costs have been who51y allocated to charrtable ath"vrties because any allocation behveen the headings would be imrnatena1. Page 13
Westi)wnster Cathedral Choir School Fund ¢ounts for tho year ended 30 September 2024 Prlnelpal Accounting Polficlts leontlnutd) CAsh Flow The disclosure exemptions permitted by Update Bullets"n l ofthe Charrties 80RP Ffts 102 have been taken advantage of in these accounts and a statemert of cash flows has not been prepared. Investments Investments are IncSuded on the balance Sheet at their ftBrket value at the end of th$ financial p¢riod. Realised and unrealtsed gains and knsses are credrted, or debrted. to the Statement of Fin8nC181 Actwities in the year in which they arise. Taxation The ch8rrty 15 a re9iStered charrty and therefrjrè is not Irab for iythmg tax or corporation tsx on income derived from rts Chantab actwil$. as rt falls wf(hin thè various exgmplions available to registered charrties. Debtors Dèbtors are recognised at their settlerrnt amount. $5 any proMs)n for non-recoverabilty. Prepayments are valued at the amount prepaid Cash at bank and in habvj Cash at bank and in hand represents such accounts and instruments that are availablè on damand or hava a maturity of less than three nw)nths from the date of aCqutsrtn. Creditors and provisions Creditors and provisions are recognised when there B an obligatK)n at the balance sheet date as a resu of a past event, rt is probable that a transfer of econom benefft hMII be required In settlement, and the amount ol thè satdement can be estinvAted reliably. Credrtors and provisions are reci>Jnised at the amount thè tharty antiupatès rt will pay to settle the debt. Fund Ounting The fijnds of the charrty are all unreslri01ed and available for use in fvrtherance of the chaitws objectNes at the discreb'¢n of the trustees. CritKal Kcounting estimates and are•$ of judgernnt No signfficantjudgements or estimates were required in thè ppaf1tsn ofthe accounts. 8essment ofgoing con¢em The trustees have asse55ed whether the use ofthe going conrn a55umptson Is apwopriale in preparing these accounts. The IJu5tees have made this assessment in respe( to a penod of one year Irom the date of appr¢)val of these accounts. The trustees recognise th8 dTfficutt economic eondrtK)ns and conts.nue to take a long term vw of tha fund However. the trustees have concluded that these current evenls and coTrdf(ions do not cast 5ignffi.cant doubt on the abilty of the charty to contsnue as a going concern. The trustoès arè of the opinion that the charrty will have Sufficient resources to meet its liabilrties as Ihtry fall due. Page 14
Westminster Cathpjral Chjir School Fuwwj Accounts for the year end&J Xl setrtnber 2024 Notes to Accounts 1 Investment irmne 2024 Income from listed investrnts Equities Gov•rnm•nt St¢) and fixed interest 124.798 8,839 118,519 9.588 £ 133,637 £ 128,107 2 Raising funds )24 2023 Investsnent management ¢rts 21,7Sf) 20,924 £ 21,7) £ 20,924 3 CharItate activities 2024 2023 Grants KAyatAe to schoc4 Termly aTth Supp)rt eosts Inote 41 120,IJJ) 8.310 90,000 9.948 £ 128.310 £ 9g.g48 4 Support eosts 2024 2023 A¢countanGy fees Independent examinerfs fees LjaI fees 7.5(M) 810 6,948 2,220 £ 8.310 £ 9,948 Page 15
Westrrtlnstér Cathra1 Choir Schcol Fund p%unts for the year ended 30 Sept¢mb¢f 2024 Notes to knounts Icontinuedl S In¥estmerts 2024 2023 Market value as at 1 Octo[ 2023 Addbons at C05t Disposa15 at Market Value Iwoceets £344,623 gain.. £68.5581 3.259.558 355,820 2,8(K),752 450,909 276,065 3,339,313 242.931 3.008.730 Nel unrealised investment gainslllossesl 309,980 250.828 Market value at 30 September 2024 £ 3,649,293 £ 3.259.558 I listed invfystmants were de1 in on a raeognised stock exchange_ $ted investments hdd at 30 SeptÈmb8r 2024 compnsèd the follown9'. UK fixed interes( weferen¢g stk ènd unit trusts Equfa"es Oversea¥ Securities 212,092 3.011.887 425,314 221,700 2,655,358 382.491 3.849,293 3.259.558 Histonc cost at 30 Septsmber 2024 £ 3.005.685 £ 2,877.986 At 30 Septernber 2024 thère was a hd¢ng ID Bloom8bJry Putlishing wth a market valuè excèeding 5% d the market val¢Je of the entire Iv6ted portfolio, induthng cash awatb.ng investmèn( as at that date. The total unrealised gair6 a% * 30 S8Oemb8r 2024 u)nsb"tutes movements on revaluab.on and are as fdlow5". 2024 2023 Unrealised gains includ1 above: On listed Inve5trnents 643,608 381,572 Reeonelliation of movements in unrealised gains Unrealised gains at 1 October 2023 Add amounts In relats.orj to disFosal8 Less unrealised investment gains 381,572 147,9441 309,980 181.2221 211,966 250.828 Totsl unrealised gains a130 Seoemtr 2024 643,608 £ 381.572 Page 16
westThnslér Cathra1 Cholr Sehool Fund Accounts lor the par ended 30 September 2024 Notes to Accounts Icontlnuedl 2024 2023 F6{1 vite5t iFwestnnt i)¢Drrn acrnml 1.228 1,228 Other credltors: amounts falllng due one yur 2024 2023 Accountancy fe8S Ind8pendgnt examin6ts tB85 Invesknent marogement ¢05ts 7.XlO 810 5.5T1 6,948 810 5,222 13.881 £ 12,980 Rdat¢d party transfers The were no r8Lqted partytransfEf5 re¢wiwFrJ d4)jr9(3yd none). Page Y7