| CHARITY No: | 290205 | |||||
|---|---|---|---|---|---|---|
| PATRON: | Her late Majesty Queen | Elizabeth | II | |||
| PRESIDENT: | The Right Hon. The Lord Mayor of London | |||||
| TRUSTEES: | Almoner Trustees: | |||||
| Alderman Sir Peter Esdin |
||||||
| The Right Hon. The Lord Mayor of London, Alderman | Nicholas | Lyons | ||||
| Alderman Gregory Jones |
||||||
| Cathedral Trustees: |
||||||
| Andrew Carwood MBE |
||||||
| Emma Davies (Retired June 2022) | ||||||
| The Revd Canon James Milne | ||||||
| Chorister Trust Trustees: | ||||||
| Prudence Davies (retired |
October | 2021) | ||||
| Jennifer Bryant-Pearson —Chairman |
||||||
| John McCuin | ||||||
| Nigel Bamping | ||||||
| Jennifer Robinson (appointed |
October 2021) | |||||
| SECRETARY: | Nigel Bamping |
|||||
| cfo The Chapter House |
||||||
| St Paul's Churchyard | ||||||
| London, EC4M BAD |
||||||
| INDEPENDENT | Helen Rumsey FCA, Dch |
A | ||||
| EXAMINER: | Ensors Accountants LLP |
|||||
| Connexions | ||||||
| 159Princes Street | ||||||
| Ipswich, IPI IQJ |
||||||
| BANKERS: | Lloyds Bank PLC | |||||
| 25 Gresham Street | ||||||
| London, EC2V 7HN |
||||||
| FUND MANAGERS: | Rathbone Investment Management |
|||||
| 8 Finsbury Circus |
||||||
| London | ||||||
| EC2M 7AZ |
| OR THE YEAR EN | D | ED 3 I | AUGU | ST 2022 | |||
|---|---|---|---|---|---|---|---|
| Accumulated | Restricted | ||||||
| Note | Fund | Fund | 2022 | 2021 | |||
| (Unrestricted) | |||||||
| 6 | 6 | ||||||
| Note 6 | |||||||
| Income | |||||||
| Donations 8 Legacies | I 10,844 | 40,017 | 150,861 | 140,739 | |||
| Investment Income |
63,505 | 63,505 | 67,436 | ||||
| Interest Receivable | 175 | 175 | 690 | ||||
| Total Income | 174,524 | 40,017 | 214,541 | 208,865 | |||
| Expenditure | |||||||
| Raising Funds - investment | manager fees | 12,518 | 12,518 | ||||
| Charitable Activities: |
|||||||
| Support Costs for Charitable | Activities | 7,803 | 7,803 | 7,422 | |||
| Grants in Respect ofChoristers |
62,195 | 22,000 | 84,195 | 101,515 | |||
| Grants to St Paul's Cathedral | School | 87,960 | 7,907 | 95,867 | 16,881 | ||
| Total Expenditure | 170,476 | 29,907 | 200,383 | 125,818 | |||
| Net income before Gains Investments |
on | 4,048 | 10,110 | 14,158 | 83,047 | ||
| (Losses)/gains on Investments |
4 | (159,680) | (159,680) | 299,223 | |||
| Net Movement in Funds |
(155,632) | 10,110 | (145,522) | 382,270 | |||
| Total Funds Brought Forward | 2,790,40 1 | 14,330 | 2,804,731 | 2,422,461 | |||
| Total Funds Carried Forward | 2,634,769 | 24,440 | 2,659,209 | 2,804,731 |
| S AT 3 I AUG | UST 2022 | |||
|---|---|---|---|---|
| Note | 2022 | 2021 | ||
| E | E | |||
| Fixed Assets | ||||
| Investments | 2,703,079 | 2,885,650 | ||
| Current Assets | ||||
| Cash & cash equivalents | 92,519 | 119,480 | ||
| 92,519 | 119,480 | |||
| Liabilities | ||||
| Creditors: Amounts | falling due within one year | (136,389) | (200,399) | |
| Net Current (Liabilities) |
(43,870) | (80,919) | ||
| NET ASSETS | 2,659,209 | 2,804,73 1 | ||
| REPRESENTED | BY: | |||
| Accumulated Fund |
—Unrestricted | 2,634,769 | 2,790,401 | |
| Restricted Fund |
24,440 | 14,330 | ||
| 2,659,209 | 2,804,73 1 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| E | E | |||
| Accumulated | Fund | 62,195 | 69,515 | |
| Restricted | Fund | 22,000 | 32,000 | |
| 84,195 | 101,515 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| E | E | |||||
| Accumulated | Fund —for the education | ofChoristers | 87,960 | 15,381 | ||
| Restricted | Fund —for the education | of | Choristers | 7,907 | 1,500 | |
| 95,867 | 16,881 |
| Market | Market | |||||
|---|---|---|---|---|---|---|
| Value | Value | |||||
| 2022 | 2021 | |||||
| E | E | |||||
| Central | Board of | Finance ofthe | Church of England | |||
| Investment | Fund | 2,014,310 | ||||
| Fixed Interest Securities | Fund | 244,845 | ||||
| CEF Cash | Deposits | 408,837 | ||||
| Savills Investment | Management | LLP | ||||
| The Charities Property |
Fund | 217,658 | ||||
| Rathbone | Investment | Management | 2,703,079 | |||
| Total | 2,703,079 | 2,885,650 |
| Included within the Rathbone |
Investment | Management | balance are the following representing |
5%or |
|---|---|---|---|---|
| more of the total valuation: | ||||
| SPDR Series Trust S&P500 EFT | 184,772 | |||
| The Charity Property Fund |
145,248 | |||
| Movements in investments |
||||
| 2022 | ||||
| E | ||||
| Market value at I September |
2021 | 2,885,650 | ||
| Cash drawdown | (75,000) | |||
| Dividends &interest |
61,498 | |||
| Management fees |
(9,389) | |||
| Realised (losses) | (110,308) | |||
| Unreallsed (losses) |
(49,372) | |||
| Market value at 31 August 2022 | 2,703,079 | |||
| Cost at 31 August 2022 | 2,752,45 1 |
|||
| Cost at 31 August 2021 | 1,648,822 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| 6 | 6 | ||||
| Trade Creditors | 28,384 | 24,016 | |||
| Accruals Grants | 56,618 | 141,387 | |||
| Accruals Other | 6,550 | 3,000 | |||
| Deferred Income |
44,837 | 31,996 | |||
| 136,389 | 200,399 | ||||
| Accruals Grants | |||||
| 2022 | 2021 | ||||
| 6 | E | ||||
| Accrued Grants | Brought | Forward | 141,387 | 203,169 | |
| Committed in the Year: |
|||||
| ~ in respect of | Choristers | 81,868 | 90,403 | ||
| ~to Cathedral | School | 95,867 | 16,881 | ||
| Paid in the Year | (264,831) | (180,178) | |||
| Additional Grants Awarded |
during the Year | 2,327 | 11,112 | ||
| Accrued Grants | Carried | Forward | 56,618 | 141,387 |
| CREDITORS: amo | unts falling due within |
one year (continued) | ||
|---|---|---|---|---|
| Deferred Income | ||||
| 2022 | 2021 | |||
| 6 | ||||
| Deferred Income Brought Forward |
31,996 | 30,996 | ||
| Released to Income | in the Year | (31,996) | (30,996) | |
| New Deferrals: | ||||
| The Girdlers' Co. Charitable Trust |
16,000 | 11,000 | ||
| The Clothworkers' | Foundation | 10,000 | ||
| Trustees of United | Guilds Grant Towards | Boarding Fees | 7,000 | 7,000 |
| The Tallow Chandlers | 11,837 | |||
| Thomas Carpenter | Trust Boarding Fees | 2,500 | ||
| Morden College |
11,496 | |||
| Deferred Income Carried Forward |
44,837 | 31,996 |
| Balances at | ||||||||
|---|---|---|---|---|---|---|---|---|
| I | Balances at | |||||||
| September | Received in |
31 August | ||||||
| 2021 | the year | Grants paid | 2022 | |||||
| 6 | ||||||||
| Year ended 31 August | 2022: | |||||||
| OBE Grants | 2,080 | 1,797 | 3,877 | |||||
| The Clothworkers' Foundarion |
10,000 | (10,000) | ||||||
| The Tallow Chandlers | 2,045 | 2,046 | (4,091) | |||||
| The Worshipful Company |
of | Grocers | 1,357 | 1,174 | 2,531 | |||
| The Imperial Society Bachelor |
of | Knights | 1,996 | 2,000 | (3,816) | 180 | ||
| The Girdlers' Co.Charitable | Trust | 6,852 | 11,000 | 17,852 | ||||
| Thomas Carpenter's | Trust | 5,000 | (5,000) | |||||
| Trustees of the United | Guilds | Service | 7,000 | (7,000) | ||||
| 14,330 | 40,017 | (29,907) | 24,440 | |||||
| Balances at | ||||||||
| I | Balances at | |||||||
| September 2020 |
Received in the year |
Grants paid | 31 August 2021 |
|||||
| 6 | 6 | |||||||
| Year ended 31 August | 2021t | |||||||
| Enrichment Activities |
1,500 | (1,500) | ||||||
| OBE Grants | 2,080 | 2,080 | ||||||
| The Clothworkers' Foundation |
10,000 | (10,000) | ||||||
| The Schroder Foundation | 10,000 | (10,000) | ||||||
| The Girdlers' Co.Charitable | Trust | 6,852 | 6,852 | |||||
| Thomas Carpenter's | Trust | 5,000 | (5,000) | |||||
| The Tallow Chandlers | 2,045 | 2,045 | ||||||
| The Worshipful Co. |
of | Grocers | 1,357 | 1,357 | ||||
| Trustees ofthe United | Guilds | Service | 7,000 | (7,000) | ||||
| The Imperial Society Bachelor |
of | Knights | 1,996 | 1,996 | ||||
| 18,352 | 29,478 | (33,500) | 14,330 |
| Accumulated | Restricted | Total | |
|---|---|---|---|
| Fund | Fund | 2022 | |
| At 31 August 2022: | E | E | E |
| Investments | 2,703,079 | 2,703,079 | |
| Cash at Bank | 32,948 | 59,571 | 92,519 |
| Creditors | (101,258) | (35,131) | (136,389) |
| 2,634,769 | 24,440 | 2,659,209 | |
| Accumulated | Restricted | Total | |
| Fund | Fund | 2021 | |
| At 31 August 2021: | E | E | f. |
| Investments | 2,885,650 | 2,885,650 | |
| Cash at Bank | 76,666 | 42,814 | 119,480 |
| Creditors | (171,915) | (28,484) | (200,399) |
| 2,790,401 | 14,330 | 2,804,731 |
| Accumulated | Restricted | |||
|---|---|---|---|---|
| Fund | Fund | 2021 | ||
| (Unrestricted) | ||||
| 6 | ||||
| Income | ||||
| Donations & Legacies |
111,261 | 29,478 | 140,739 | |
| Investment Income |
67,436 | 67,436 | ||
| Interest Receivable |
690 | 690 | ||
| Total Income | 179,387 | 29,478 | 208,865 | |
| Expenditure | ||||
| Charitable activities: |
||||
| Support Costs for Charitable | Activides | 7,422 | 7,422 | |
| Grants in Respect ofChoristers |
69,515 | 32,000 | 101,515 | |
| Grants to St Paul's Cathedral | School | 15,381 | 1,500 | 16,881 |
| Total Expenditure | 92,318 | 33,500 | 125,818 | |
| Net income/(Expenditure) Gains on Investments |
before | 87,069 | (4,022) | 83,047 |
| Gains on Investments | 299,223 | 299,223 | ||
| Net Movement in Funds |
386,292 | (4,022) | 382,270 | |
| Total Funds Brought Forward | 2,404,109 | 18,352 | 2,422,461 | |
| Total Funds Carried Forward | 2,790,401 | 14,330 | 2,804,731 |