## 

|Index to the Financial|Statements||
|---|---|---|
|for the year ended|||
|31 December 2020|||
|||Page|
|Charity<br>Information|||
|Trustees Report|||
|Report ofthe Auditors|||
|Statement<br>of Financial|Activities||
|Balance Sheet||10|
|Notes to the Financial|Statements||





## 

|ADMINISTRATIVE|DETAILS|||
|---|---|---|---|
|Trustees||Mr C Hal Bagot||
|||The Very Revd M C Boyling||
|||Mr R Platt||
|||Mrs C Hensman||
|||The Revd Canon JE Kearton (Resigned 6 December 2020)||
|||MrJ Nixon||
|||Mr T Hebdon||
|||Canon JWestoll||
|||Dr W D Paterson||
|||Canon BGray (Resigned 15October 2020)||
|||Canon<br>AJJohnston||
|||Mr D Allen||
|||Committee<br>Members||
|||Committee<br>and Finance Committee|Members|
|Registered Office:||7The Abbey||
|||CARLISLE||
|||CA3 8TZ||
|Charity Number:||512527||





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|Statement of Financial Activities|Statement of Financial Activities|Statement of Financial Activities||||||||
|---|---|---|---|---|---|---|---|---|---|
|for the year ended||||||||||
|31December 2020|||||31.12.20|||31.12.19||
||||Notes|Restricted|Unrestricted|Total|Restricted|Unrestricted|Total|
|||||2|2|2|2|2|2|
|Income and endowments|from:|||||||||
|Donations<br>and legacies|||2|16,976|10,198|27,174|231,562|6,016|237,578|
|Investments|||3|18,408|28,583|46,991|21,166|34,442|55,608|
|Total||||35,384|38,781|74,165|252,728|40858|293,186|
|Expenditure<br>on:||||||||||
|Charitable<br>activities|||4|81,310|129,911|211,221|550,847|80,537|631,384|
|Total||||81,310|129,911|211,221|550,847|80,537|631,384|
|Net income/(expenditure)|before|||(45,926)|(91,130)|(137,056)|(298,119)|(40,079)|(338,198)|
|investment<br>gains/(losses)||||||||||
|Net gains/(losses)<br>on investments|||10|(38,474)|(21,235)|(59,709)|65,737|86,244|151,981|
|Net gains/(losses)<br>on revalua6on||ofproperty|9||269,861|269,861||||
|Net income/(expenditure)||||(84/tgg)|157,496|73,098|(232,382)|46,165|(186,2'17)|
|Total funds brought<br>forward||||494,643|821,564|1,316,207|727,025|775,399|1,502,424|
|Transfers<br>between<br>funds||||50,000|(50,000)|||||
|Total funds carried forward||||460,243|929,060|1,389,303|494,643|821464|1416,207|





## 

|Balance Sheet|Balance Sheet|Balance Sheet|||||||
|---|---|---|---|---|---|---|---|---|
|as at|||||||||
|31 December||2020|||||||
|||||Notes|31.12.20|||31.12.19|
||||||||2|2|
|Fixed Assets|||||||||
|Tangible assets||||8|||||
|Investment|property|||9||425,000||155,139|
|Investments||||10||897,605||1,048,143|
|||||||1,322,605||1,203,282|
|Current Assets|||||||||
|Debtors|||||4,368||4,503||
|Cash at bank||and<br>in|hand||75,395||136,578||
||||||79,763||141,081||
|Creditors:|amounts||falling due within one year||||||
|Liabilities||||12|(13,065)||(28,156)||
|Net Current||Assets||||66,698||112,925|
|Total Assets||less Current||Liabilities||1,389,303||1,316,207|
|The Funds|of the Charity||||||||
|Restricted|income funds|||14||460,243||494,643|
|Unrestricted||income|funds|14||929,060||821,564|
|||||||1,389,303||1,316,207|
|The notes|at|pages|11 to 20 form part of these accounts.||||||
|Approved|by the trustees|||and signed on their behalf|||||





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## 

|||||||31.12.20|||31.12.19|31.12.19|
|---|---|---|---|---|---|---|---|---|---|---|
||||||Charitable|activities||Total|Total||
||||Note|MUslc|Fratry|Common|Church||||
|||||||fund|House||||
||||||2|2|2||||
|Direct costs|||||||||||
|Grants made||||30,433|50,000|12,000||92,433|574,457||
|Support|costs||||||||||
|Legal and professional||||877||784||1,661||932|
|Office costs||||||||||235|
|Church|House|Repairs|||||111,925|111,925|52,236||
|Church|House|Insurance|||||1,549|1,549|1,142||
|Church|House|Water|||||199|199||113|
|Church|House|Light & heat|||||798|798|||
|Auditor's|remuneration|||||2,620||2,620|2,154||
|Interest|and charges|||||36||36||115|
|||||31,310|50.000|15,440|114,471|211,221|631,384||





## 

## 

|Grants made||||||
|---|---|---|---|---|---|
||||31.12.20||31.12.19|
|||Restricted|Unrestricted|Total|Total|
|||8|2|2|2|
|The Chapter<br>Admin grant|ofCarllsle Cathedral||12,000|12,000|25,400|
|Fratry project||50,000||50,000|509,918|
|Music fund||18,377||18,377|20,855|
|Organ Scholar||12,056||12,056|13,284|
|Choral Scholar|||||5,000|
|||80,433|12,000|92,433|574,457|



## 

## 



## 

## 

|Tangible assets|||||
|---|---|---|---|---|
||Office||Total||
||equipment||||
||2||||
|COST|||||
|At 1 January 2020||758||758|
|Additions|||||
|Disposals|||||
|At 31 December 2020||758||758|
|DEPRECIATION|||||
|At 1 January 2020||758||758|
|Charge for year|||||
|Eliminated<br>on disposals|||||
|At 31 December 2020||758||758|
|NET BOOK VALUE|||||
|At 31 December 2020|||||
|At 31 December 2019|||||



## 

|UK investments<br>are stated as follo|ws:|
|---|---|
||31.12.20|
||2|
|Valuation||
|Brought forward|155,139|
|Additions||
|Disposals||
|Revaluation|269,861|
|Carried forward|425,000|





## 

## 

|UK investments<br>are stated as follows:|||
|---|---|---|
||31.12.20|31.12.19|
|Market value|||
|Brought forward|1,048,143|1,031,600|
|Additions<br>Disposals|183,863<br>~274.992|154,043<br>~229.427|
||957,314|896,162|
|Gains in the year:|||
|Realised|(9,138)|14,682|
|Unrealised|(50,571)|137,299|
|Carried forward|897,605|1,048,143|





|Investmeltts,<br>contd.|Investmeltts,<br>contd.|||||||||Purchase|Year end|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Price|Valuation|
|||||||||||2|2|
|Fixed interest investments||||||Common|||Fund|||
|7,130|M &G Securities||||Limited corporate bond|||||7,208|7,410|
|16,500|Liontrust<br>Monthly||||Income||Bond|||17,139|17,292|
|5,200|JH Strategic|Bond||||||||7,238|7,732|
|16,000|Standard<br>Life||Investment||||Grade Bond|||8,971|9,446|
|18,900|Threadneedle|||Global Eq Inc||||Z Inc||19,705|20,911|
|||||||||||60,261|62,791|
|Investment|Trusts|||||Common|||Fund|||
|5,550|Alliance Trust|||||||||46,620|50,006|
|11,725|Aberdeen<br>Standard|||||Fund|Managers|||7,087|7,308|
|4,600|Murray Income|||Trust||||||41,216|38,272|
|5,175|Henderson|Far East||||Income||Ltd||18,915|16,896|
|706|Guinness Asset Management|||||||||14,811|15,597|
|16,900|Securities Trust ot Scotland|||||||||34,983|34,899|
|7,400|J P Morgan|Global Growth||||||||25,641|28,601|
|13,300|Marlborough||Multi||Cap|||||22,961|19,245|
|70|Legg Mason|Global||||Funds||||7,057|7,062|
|2,500|Ruffer Investment|||||||||5,604|6,575|
|||||||||||224,895|224,461|
|Financlals||||||Common|||Fund|||
|710|Prudential|||||||||10,288|9,564|
|1,250|M&G pic|||||||||2,965|2,474|
|800|Polar Capital|||||||||12,688|18,440|
|1,175|HSBC Holdings|||||||||6,955|4,451|
|||||||||||32,896|34,929|
|Resources||||||Common|||Fund|||
|725|Royal Dutch|Shell|||8|||||16,236|9,131|
|2,800|BP|||||||||13,205|7,134|
|585|BHP Billiton|||||||||10,394|11,261|
|290|Victrex|||||||||7,233|6,803|
|||||||||||47,068|34,329|
|Consumer||||||Common|||Fund|||
|240|Ungever|||||||||10,441|10,541|
|120|Reckitt Benckiser|||||||||7,355|7,850|
|||||||||||17,796|18,391|
|Pharmaceuticals||||||Common|||Fund|||
|340|Glaxo Smith|Kline||||||||6,049|4,563|
|300|Smith &Nephew|||||||||4,985|4,530|
|90|Astra Zensea|||||||||6,846|6,592|
|||||||||||17,880|15,685|
|Services||||||Cammon|||Fund|||
|415|WPP|||||||||4,426|3,320|
|||||||||||4,426|3,320|
|SupporlSenrices||||||Common|||Fund|||
|95|Intertex Group|||PLC||||||5,559|5,366|
|Carried forward||||||||||410,781|399,272|



## 



## 

|||||||||Purchase|Year end|
|---|---|---|---|---|---|---|---|---|---|
|||||||||Price|Valuation|
|10|Investments,<br>contd.|||||||2|2|
||Brought forward|||||||410,781|399,272|
||North American<br>Investmsnts||||Common||Fund|||
||40|Visa Inc||||||5,674|6,400|
|||||||||5,674|6,400|
||Utilities||||Common||Fund|||
||1,200|National<br>Grid||||||11,332|10,380|
||2,900|Greencoat<br>UK|Wind|||||4,255|3,892|
|||||||||15,587|14,272|
||Investment<br>Trusts|||||Music Fund||||
||8,560|M&G Charifund||||||142,'l57|117,493|
||28,018|Sarasin fund||||||48,248|48,780|
||12,800|Scottish American||fund||||54,528|59,392|
||30,699|Newton<br>Global|fund|||||56,108|55,399|
||13,600|Marlborough<br>Multi||Gap Income P Inc Nav||||23,479|19,679|
||3,200|Murray Income|Trust||Ord|||28,672|26,624|
||21,800|Artemis Global||||||21,453|20,786|
|||||||||374,645|348,153|
||Unlisted|investments||||Music Fund||||
||25,451|Charities Property||Fund||||32,381|31,547|
||Deposits|||||Music Fund||||
|||CBFDeposit fund||||||19||
||Investment<br>Trusls|||||Garraway|Fund|||
||1,175|Murray Income|Trust|||||10,528|9,776|
||21,300|Threadneedle|Global||Eq|Inc Z Inc||33,339|32,636|
||6,100|Standard<br>Life Equity||||||25,193|18,880|
||2,600|Murray<br>International|||Trust Ord|||32,760|29,380|
|||||||||101,820|90,672|
||Rathbones<br>capital and||income accounts||||||7,270|
||Total Investments|||||||940,907|897,605|





|11|Debtors||||||||
|---|---|---|---|---|---|---|---|---|
||||||||31.12.20|31.12.19|
||||||||6|8|
||Trade debtors||||||900|900|
||Other debtors||||||3,468|3,603|
||||||||4,368|4,503|
|12|Creditors: amounts||falling due within one year||||||
||||||||3'1.12.20|31.12.19|
||||||||2|2|
||Trade creditors||||||68|720|
||Accru ala||||||12,997|27,436|
||||||||13,065|28,156|
|13|Funds||1.1.20|Incoming|Outgoing|Investment|Transfers|31.12.20|
|||||Resources|Resources|Gains i|||
|||||||(Losses)|||
|||||||2|||
||Restricted funds||||||||
||Music Appeal||502,825|26,536|(31,310)|(38,474)||459,577|
||Fratry Project||(8,182)|8,848|(50,000)||50,000|666|
||||494,643|35,384|(81,310)|(38,474)|50,000|460,243|
||Unrestricted|funds|||||||
||Common<br>fund||821,564|25,681|(15,440)|(21,235)|(50,000)|760,570|
||Church House|tund||13,100|(114,471)|269,861|-|168,490|
||||821,564|38,781|129,911|248,626|50,000|929,060|
||Total funds||1,316,207|74,165|(211,221)|210,152||1,389,303|
||Comparative|funds|1.1.19|Incoming|Outgoing|Investment|Transfers|31.12.19|
|||||Resources|Resources|Gains I|||
|||||||(Losses)|||
|||||||2|||
||Restricted funds||||||||
||Music Appeal||357,817|21,005|(39,771)|65,737|98,037|502,825|
||Fratry Project||271,171|231,723|(511,076)|||(8,182)|
||Garraway<br>Fund||98,037||||(98,037)||
||||727,025|252,728|550,847|65,737||494,643|
||Unrestricted|funds|||||||
||Common<br>fund||775,399|33,033|(27,046)|86,244|(46,066)|821,564|
||Church House|fund||7,425|(53,491)||46,066||
||||775,399|40,458|80,537|86,244||821,564|
||Total funds||1,502,424|293,186|(631,384)|151,981||1,316,207|





## 

## 

## 

## 

|Net assets by fund||||
|---|---|---|---|
|||31.12.20||
||Restricted|Unrestricted|Total|
||2|6|2|
|Tangible assets||||
|Investment<br>property||425,000|425,000|
|Investments|471,869|425,736|897,605|
|Current assets|(2,863)|82,626|79,763|
|Creditors<br>falling due within one year|(8,763)|(4,302)|(13,065)|
|Total net assets|460,243|929,060|1,389,303|
|Comparative<br>Net assets by fund||||
|||31.12.19||
||Restricted|Unrestricted|Total|
||2|2|2|
|Tangible assets||||
|Investment<br>property||155,139|155,139|
|Investments|510,695|537,448|1,048,143|
|Current assets|5,025|136,056|141,081|
|Creditors<br>falling due within one year|(21,077)|(7,079)|(28,156)|
|Total net assets|494,643|821,564|1,316,207|





## 

## 

|||||||Comm|on<br>Fund|
|---|---|---|---|---|---|---|---|
|Income and Expenditure|||Account|||||
|for the year ended||||||||
|31 December 2020||||||||
|||||31.12.20||31.12.19||
|||||Common|Fund|Common|Fund|
|||||f:|2|6|2|
|Incoming from:||||||||
|Donations|and legacies|||||||
|Gifts||||198||198||
|Bequests||||10,000||5,818||
||||||10,198||6,016|
|Investments||||||||
|Interest||||58||224||
|Rent||||||923||
|Dividends||||15,425||25,870||
||||||15,483||27,017|
|Total income|||||25,681||33,033|
|Expenditure<br>on charitable|||activities|||||
|Admin<br>grant||||12,000||25,400||
||||||12,000||25,400|
|Support costs||||||||
|Legal and professional||||784||(623)||
|Audit fee||||2,620||2,154||
|Interest and|charges|||36||115||
||||||3,440||1,646|
|Total Expenditure|||||15,440||27,046|
|Net income/(expenditure)|||before||10,241||5,987|
|investment<br>gains/(losses)||||||||
|Realised gains/(losses)|||||(9,138)||14,682|
|Unrealised<br>gains/(losses)|||||(12,097)||71,562|
|Net income<br>/ (expenditure)|||||10,994||92,231|
|Gross transfers<br>between||funds|||(50,000)||(46,066)|
|Net movement<br>in|funds||||(60,994)||46,166|
|Fund at 1 January|||||821,564||775,399|
|Fund st 31 December|||||760,570||821,564|





## 

## 

|31 December 202|0|||||||
|---|---|---|---|---|---|---|---|
|||||31.12.20||31.12.19||
|||||Church House|fund|Church House|fund|
|||||8|8|2|8|
|Incoming from:||||||||
|Investments||||||||
|Rent||||13,100||7,425||
||||||13,100||7,425|
|Total income|||||13,100||7,425|
|Support costs||||||||
|Church<br>House Repairs||||111,925||52,236||
|Church<br>House Insurance||||1,549||1,142||
|Church<br>House Water||||199||113||
|Church House Light & heat||||798||||
|||||114,471|||53,491|
|Total Expenditure||||114,471|||53,491|
|Net income<br>/ (expenditure)||||101,371)||(46,066)||
|Net gains/(losses)|on revaluation||of property|269,861||||
|Transfers||||||||
|Gross transfers<br>between||funds|||||46,066|
|Net movement<br>in|funds|||168,490||||
|Fund at 1 January||||||||
|Fund at 31 December||||168,490||||





||||||M|usic Fund|
|---|---|---|---|---|---|---|
|Income and Expenditure||Account|||||
|for the year ended|||||||
|31 December 2020|||||||
||||31.12.20||31.12.19||
||||Music|Fund|Music|Fund|
|Incoming<br>from|||||||
|Donations<br>and legacies|||||||
|Gifts|||643||150||
|Grants receivable|||7,500||||
|||||8,143||150|
|Investments|||||||
|Interest|||16||55||
|Dividends|||18,377||20,800||
|||||18,393||20,855|
|Total income||||26,536||21,005|
|Expenditure<br>on charitable||activities|||||
|Grants to Chapter|of|Carlisle Cathedral||30,433||39,139|
|Support Costs|||||||
|Professional fees||||877||632|
|Total expenditure||||31,310||39,771|
|Net income/(expenditure)||before|||||
|investment<br>gains/(losses)||||(4,774)||(18,766)|
|Unrealised<br>gains/(losses)||||(38,474)||65,737|
|Net Income/(Expenditure)||||~43.243)||46,971|
|Transfers|||||||
|Gross transfers<br>between|funds|||||98,037|
|Net movement<br>in funds||||43,248||145,008|
|Fund at 1 January||||502,825||357,817|
|Fund at 31 December||||459,577||502,825|





## 

||||||Fr|atry Fund|
|---|---|---|---|---|---|---|
|Income and Expenditure|Account||||||
|for the year ended|||||||
|31 December 2020|||||||
||||31.12.20||31.12.19||
|||Fratry Fund|||Frstry|Fund|
|||2|2||2|2|
|Incoming<br>from|||||||
|Donations<br>and legacies|||||||
|Gifts||8,528|||48,134||
|Tax recoverable|||305||8,278||
|Grants receivable|||||175,000||
||||8,833|||231,412|
|Investments|||||||
|Interest|||15||311||
|Total income|||8,848|||231,723|
|Expenditure<br>on charitable activities|||||||
|Grants to Chapter|of Carlisle Cathedral|50,000|||509,918||
|Professional<br>fees|||||923||
|Office costs|||||235||
||||50,000|||511,076|
|Total expenditure|||50,000|||511,076|
|Net income I(expenditure)|||41,152|||279,353|
|Transfers|||||||
|Gross transfers<br>between|funds||50,000||||
|Net movement<br>in funds|||8,848||||
|Fund at 1 January|||(8,182)|||271,171|
|Fund at 31 December||||666||(8,182|