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|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||||||
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|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|
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|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|
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||||2022|2021|
|---|---|---|---|---|
||||E|E|
|Accumulated||Fund|62,195|69,515|
|Restricted|Fund||22,000|32,000|
||||84,195|101,515|
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||||||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|
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||||||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|
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|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|
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|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|
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||||||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|
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||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|
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|||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|