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ST EDMUNDSBURY CATHEDRAL CONSOLIDATED ACCOUNTS

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									  St Edmundsbury Cathedral

       Annual Report and
Consolidated Financial Statements

          Year Ended

       31 December 2008
ST EDMUNDSBURY CATHEDRAL

Annual report and consolidated financial statements for the year ended 31 December 2008


Contents
                                                                                       Page

Legal and administrative information                                                      2

Report of the Cathedral Chapter                                                           4

Report of the auditors                                                                    11

Consolidated statement of financial activities                                            12

Consolidated balance sheet                                                                13

Charity balance sheet                                                                     14


Notes to the consolidated financial statements

1      Accounting policies                                                              15
2      Incoming resources                                                               17
3      Cost of generating funds                                                         18
4      Expenditure on mission                                                           19
5-19   Other notes to the consolidated financial statements                            20-29

Notes for management purposes only (which do not form part of the audited statutory financial statements)

1      Congregational collections and givings                                             31
2      Facilities and other fees                                                          31
3      Income from visitors                                                               31
4      Cost of facilities for visitors                                                    31
5      Services, music and congregational costs                                           32
6      Educational activities - discovery centre                                          32
7      Support costs                                                                      32
8      Missionary giving account                                                          33
9      Investments                                                                        34




                                                        1
ST EDMUNDSBURY CATHEDRAL

Legal and administrative information


Full name

The Cathedral Church of St James, Bury St Edmunds, commonly known as St Edmundsbury Cathedral

Cathedral office

Angel Hill, Bury St Edmunds, Suffolk, IP33 1LS

Visitor

The Right Reverend Nigel Stock, Lord Bishop of St Edmundsbury and Ipswich

Cathedral Chapter

The Very Reverend Neil Collings Dean of St Edmundsbury
The Reverend Canon MHJ Hampel (Precentor)
The Reverend Canon P Barham (Canon Pastor)
The Reverend Canon C Burdon (Canon Theologian)
GDR Cockram (resigned 9 April 2008)
The Reverend Canon D Finch (resigned 9 April 2008)
AL Jary (resigned 9 April 2008)
J Moore (appointed 9 January 2008)
Mrs PM Pitts (appointed 9 January 2008)
PR Smith
M Soons (appointed 9 April 2008)
CF Taylor (resigned CF Taylor 4 December 2008)

Clerk to the Cathedral Chapter

MWM Batty

Administrator

K Huddart

Surveyor to the Fabric

A Redman MA BSc, FRICS, IHBC, Cons. Accred.

Director of Music

J Thomas MA(Cantab) PGCE FRCO




                                                   2
ST EDMUNDSBURY CATHEDRAL

Legal and administrative information (continued)


Finance Committee

The Very Reverend Neil Collings Dean of St Edmundsbury
The Reverend Canon P Barham (Canon Pastor)
GDR Cockram
K Huddart
AL Jary
AD Sheppard (resigned 7 February 2008)
M Soons

Fabric Advisory Committee

Voting members:                              Non-voting members:

GDR Cockram                                  The Very Reverend Neil Collings
T Cocke (died May 2008)                      The Reverend Canon MHJ Hampel
Professor Cooper                             The Reverend Canon C Burdon
C Amery                                      The Reverend Canon P Barham
R Griffiths
Dr J Litten
Dr T Pestell
Dr A Power

Architect

P Orchard BA, BArch, RIBA, Cons. Accred.
The Whitworth Co-Partnership, 18 Hatter Street, Bury St Edmunds, Suffolk IP33 1NE

Archivist

Mrs M Statham, 5 Southgate Street, Bury St Edmunds, Suffolk, IP33 2AF

Auditors

Izod Bassett, 105 High Street, Needham Market, Suffolk, IP6 8DQ

Bankers

Lloyds TSB Bank plc, 28-34 Risbygate Street, Bury St Edmunds, Suffolk, IP33 3AH

Solicitors

Greene & Greene, 80 Guildhall Street, Bury St Edmunds, Suffolk IP33 1QB

Stockbrokers

JM Finn & Co, 60 Abbeygate Street, Bury St Edmunds, Suffolk IP33 1LB




                                                    3
ST EDMUNDSBURY CATHEDRAL

Report of the Cathedral Chapter for the year ended 31 December 2008


Structure, governance and management

Governing Statutes

On 15 January 1914 the parish church of St James in the town of Bury St Edmunds was declared to be the
Cathedral Church of the new diocese of St Edmundsbury and Ipswich. The rules and regulations under which the
Cathedral is governed are known as statutes. The legislation under which the statutes are drawn up has altered from
time to time. A present constitution and statutes, drawn up by a transitional Council established under the
Cathedral Measure 1999, came into force on 19 November 2000. The Cathedral‟s corporate body (“The
Corporation”) comprises three institutions: the Chapter, the Council and the College of Canons.

Role in the Diocese

The Cathedral is the mother church of the Anglican Diocese of St Edmundsbury and Ipswich . It is the seat of the
Bishop and a centre of worship and mission. The Cathedral is used for major Diocesan services such as ordinations
and installations and by the Diocesan Synod. It is also a venue for civic events, concerts, ceremonies and lectures.

The Cathedral is a parish church as well as a Cathedral. We seek to develop our town centre ministry and to
continue to connect across the Diocese and further afield with our link Diocese in Tanzania.

The Chapter

The Chapter comprises the Dean and all the Residentiary Canons of the Cathedral, four lay members elected at an
Annual Parochial Church Meeting and one lay person appointed by the Bishop . It is the duty of the Chapter to
direct and oversee the administration of the affairs of the Cathedral. The Chapter has the power to acquire and
dispose of property on behalf of the corporate body. Appropriate professional training is provided to new members
of the Chapter.

The Council

The Council consists of a lay Chairman, the Dean, four Chapter members appointed by the Chapter, two elected
members of the College of Canons, three lay persons elected by the Cathedral community, two members of the
House of Laity of the Diocesan Synod, two members of the House of Clergy of the Diocesan Synod and eight
persons appointed by the Bishop, the Dean and the Chairperson of the Council. It shall be the duty of the
Council to further and support the work of the Cathedral and in particular to receive and consider the annual
budget and the annual report and financial statements.

The College of Canons

The College of Canons comprises the Dean, every Suffragan Bishop of the Diocese, every Canon of the
Cathedral and every Archdeacon of the Diocese. The College of Canons shall receive and consider the annual
report and financial statements and perform such other functions as may be prescribed.

Risk Management

The Chapter reviews the major risks to which the Cathedral is exposed and oversees the systems and procedures
established to manage these risks on an ongoing basis.




                                                         4
ST EDMUNDSBURY CATHEDRAL

Report of the Cathedral Chapter for the year ended 31 December 2008


Structure, governance and management (continued)

Statement of the Responsibilities of the Chapter

The Chapter is responsible under requirements laid down by the Church Commissioners under powers given to
them by Section 27 of the Cathedrals Measure 1999 for:

     preparing and publishing an annual report and audited accounts which give a true and fair view of the
      financial activities for each financial year and of the assets, liabilities and funds at the end of each financial
      year of the Cathedral and its related entities;
     stating that they have complied in all material respect with the regulations on the subject prepared by CAFA
      or describing which recommendations have not been complied with and giving reasons for the non
      compliance;
     selecting suitable accounting policies and then applying them consistently;
     making judgements and estimates that are reasonable and prudent;
     keeping proper accounting records from which the financial position of the Cathedral can be ascertained at
      any time; and
     safeguarding the assets of the Cathedral and hence taking reasonable steps for the prevention and detection
      of fraud and other irregularities.

Investment powers

Under the Cathedral Measures 1999 the Chapter may invest the Cathedral‟s funds in any of the following:

     Land
     Funds administered for the Central Board of Finance of the Church of England by CCLA Investment
      Management Ltd.
     Investments in which the trustees may invest under the general power of investment provided by the Trustee
      Act 2000.
     The improvement or development of property belonging to the Cathedral, except that endowment funds may
      not be used to improve or develop the Cathedral itself and its ancillary buildings.

Related parties

The Cathedral is the parent entity of St Edmundsbury Cathedral Enterprises Limited, a company that carries out
trading and commercial activities for the benefit of St Edmundsbury Cathedral.

The charity also controls The Cathedral Fund, Bury St Edmunds, a registered charity whose objectives are the
enlargement, restoration and repair of the Cathedral. The trustees of The Cathedral Fund, Bury St Edmunds are
the members of the Cathedral Chapter.

The consolidated financial statements include the results of both St Edmundsbury Cathedral Enterprises Limited
and The Cathedral Fund, Bury St Edmunds.

The Friends of St Edmundsbury Cathedral, St Edmundsbury Cathedral Choir – Tour Fund and the Friends of St
Edmundsbury Cathedral Choir, although associated entities, are not controlled by the Chapter and do not
provide direct material financial benefit to the Cathedral. Their results are not included in the consolidated
financial statements but a summary of their accounts is shown in note 18c.



                                                           5
ST EDMUNDSBURY CATHEDRAL

Report of the Cathedral Chapter for the year ended 31 December 2008


Structure, governance and management (continued)

The Finance Committee

The Finance Committee reports to Chapter, its function being to advise on financial, investment and property
management. It prepares and monitors budgets and income and expenditure forecasts.

The Fabric Advisory Committee

The Fabric Advisory Committee is a statutory body, which reports to the Cathedrals‟ Fabric Commission. It has
8 voting members, four appointed by Chapter and four by the Cathedral Fabric Commission for England. The
Dean and three Canons are non-voting members of the committee and the Surveyor to the Fabric, the Cathedral
Architect, the Cathedral Archivist, a consultant archaeologist, and a secretary also attend meetings. No work
may be carried out on the Cathedral that would materially affect its architectural, archaeological, artistic or
historic character nor may any object of architectural, archaeological or artistic interest be sold, lent or disposed
of without the approval of either the Commission or the Fabric Advisory Committee.

Objectives

St Edmundsbury Cathedral is a Christian community united in worship together with our Bishop and the
Diocese of St Edmundsbury and Ipswich. It is a house of prayer, which represents an Anglican presence in the
County of Suffolk and the wider community, through the preaching of God‟s Word, the celebration of the
sacraments, the beauty of worship, and our Christian ministry to all those who come here. It is a living sign of
the Body of Christ: building charity, unity and peace through Word and Sacrament.

Activities, achievements and performance

Ministry

Every day of the year, Morning and Evening Prayer is said or sung and the Eucharist is celebrated. In addition to
the 960 regular services, thousands of people come from Suffolk and beyond to worship God at special services
throughout the year, which celebrate our common life and acknowledge our common concerns.




                                                         6
ST EDMUNDSBURY CATHEDRAL

Independent auditors’ report to the Chapter of St Edmundsbury Cathedral


We have audited the financial statements of The Cathedral Church of St James, St Edmundsbury for the year ended 31
December 2008 on pages 7 to 25. These accounts have been prepared under the historical cost convention (as modified
by the revaluation of certain fixed assets) and the accounting policies set out therein.

This report is made solely to the Cathedral Chapter as a body, in accordance with the Cathedrals Measure 1999. Our
audit work has been undertaken so that we might state to the Cathedral Chapter those matters we are required to state to
them in an auditor‟s report and for no other purpose. To the fullest extent permitted by law, we do not accept or resume
responsibility to anyone other than the Cathedral Chapter as a body, for our audit work, for this report, or for the
opinions we have formed.

Respective responsibilities of the Cathedral Chapter and Auditors
The Cathedral Chapter‟s responsibilities for preparing the Annual Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards are set out in the Statement of Cathedral Chapters‟
Responsibilities. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory
requirements and International Standards on Auditing (UK and Ireland).

We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared
in accordance with the provisions and guidelines specified by the Church Commissioners under the powers given to
them by Section 27 of the Cathedral‟s Measure 1999. We also report to you if, in our opinion, the Cathedral Chapter‟s
Report is not consistent with the financial statements, if the Cathedral Chapter has not kept proper accounting records, if
we have not received all the information and explanations we require for our audit.

We are not required to consider whether the Cathedral Chapter‟s Report concerning the major risks to which the
Cathedral is exposed covers all existing risks and controls, or to form an opinion on the effectiveness of the Cathedral‟s
risk management and control procedures.

We read other information contained in the Annual Report and consider whether it is consistent with the audited
financial statements. This other information comprises only the Dean‟s Report, Cathedral Chapter‟s Report and
Financial Report. We consider the implications for our report if we become aware of any apparent misstatements or
material inconsistencies with the financial statements. Our responsibilities do not extend to any other information.

Basis of opinion
We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the
Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and
disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made
by the Cathedral Chapter in the preparation of the financial statements, and of whether the accounting policies are
appropriate to the Cathedral‟s circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary
in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from
material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated
the overall adequacy of the presentation of information in the financial statements.

Opinion
In our opinion the financial statements give a true and fair view of the state of the Cathedral‟s and its group‟s affairs at
31 December 2008 and of its financial activities for the year then ended and have properly been prepared in accordance
with the provisions of the guidelines specified by the Church Commissioners under the powers given to them by Section
27 of the Cathedrals Measure 1999.


IZOD BASSETT
Chartered Accountants
 and Registered Auditors
105 High Street, Needham Market, Suffolk, IP6 8DQ                                                        17 June 2009


                                                             7
ST EDMUNDSBURY CATHEDRAL

Consolidated statement of financial activities for the year ended 31 December 2008


                                            Unrestricted      Restricted   Endowment      2008          2007
                                    Note      funds             funds        Fund         Total         Total
                                                 £                £            £           £             £
Incoming resources                    2
Voluntary income                              328,046         1,058,643            -   1,386,689     1,619,979
Grants receivable                              13,532           189,820            -     203,352       180,894
Charges and fees arising in the course of
  mission                                      32,865                 -            -      32,865        36,025
Income from activities generating funds       360,026                 -            -     360,026       364,645
Income from property and investments          117,252            57,825            -     175,077       124,806
Other income                                    5,632                 -            -       5,632         1,465

Total incoming resources                      857,353         1,306,288            -   2,163,641     2,327,814

Costs of generating funds              3     (351,277)          (13,158)           -    (364,435)     (374,761)
Net incoming resources available for
 mission                                      506,076         1,293,130            -   1,799,206     1,953,053

Resources expended on mission      4
Ministry                                     (151,238)         (153,555)           -    (304,793)      (291,827)
Cathedral and precincts upkeep               (196,811)         (185,932)           -    (382,743)      (170,599)
Education and outreach                        (52,675)           (2,231)           -     (54,906)       (55,834)
Community, parish and congregation             (9,074)           (6,704)           -     (15,778)       (16,787)
Cathedral building additions                         -         (455,444)           -    (455,444)    (1,304,316)
Other expenditure on mission                   (3,865)                -            -      (3,865)        (5,988)
Total expenditure on mission                 (413,663)         (803,866)           -   (1,217,529)   (1,845,351)

Governance costs                               (29,929)          (8,044)           -     (37,973)      (38,328)

Total expenditure on generating funds,
 mission and governance                      (794,870)         (825,068)           -   (1,619,938)   (2,258,440)
Net incoming resources                 5       62,484           481,220            -     543,704        69,374

Losses on revaluations and disposals of
  property and investments
Non-investment property            8                 -                -            -           -      (876,217)
Investment property                6                 -                -            -           -      (356,163)
Investments                        7           (11,051)        (262,830)           -    (273,880)      (86,132)
                                               (11,051)        (262,830)           -    (273,880)    (1,318,512)
Gross transfer between funds         16          6,574           (6,574)           -           -              -

Net increase/(decrease) in funds               58,007           211,816            -     269,824     (1,249,138)

Funds brought forward                        2,285,652        1,686,820    3,225,000   7,197,472     8,446,610
Funds carried forward                        2,343,659        1,898,636    3,225,000   7,467,296     7,197,472


All incoming resources and resources expended derive from continuing activities.


                                                          8
ST EDMUNDSBURY CATHEDRAL

Consolidated balance sheet as at 31 December 2008


                                       Unrestricted    Restricted       Endowment     2008         2007
                               Note       fund           funds            funds       Total        Total
                                               £              £               £          £           £
Fixed assets
Investment assets
Property                         6        900,000               -                -    900,000      900,000
Investments                      7         26,673         144,838                -    171,511    1,044,825

                                          926,673         144,838                -   1,071,511   1,944,825
Non investment assets
Property                         8      1,445,000               -        3,225,000   4,670,000   4,670,000
Other fixed assets               9         23,870          80,683                -     104,553      29,078

                                        1,468,870          80,683        3,225,000   4,774,553   4,699,078

Total fixed assets                      2,395,543         225,521        3,225,000   5,846,064   6,644,533

Current assets
Stock                            10        52,170              -                 -      52,170      48,202
Debtors                          11        80,785         49,099                 -     129,884     313,636
Cash at bank and in hand                  361,730      1,672,386                 -   2,034,116   1,228,130

                                          494,685      1,721,485                 -   2,216,170   1,589,968


Creditors: amounts falling
due within one year              12       171,568          48,370                -    219,938     662,030

Net current assets                        323,117      1,673,115                 -   1,996,232    927,938


Creditors: amounts falling due after
one year
Loans from third parties        13        375,000               -                -    375,000     375,000

Net assets                              2,343,659      1,898,636         3,225,000   7,467,296   7,197,472

Fund balances                    19     2,343,659      1,898,636         3,225,000   7,467,296   7,197,472


The financial statements were approved by the Chapter on 17 June 2009




The Reverend Canon Michael Hampel
Sub-Dean of St Edmundsbury



                                                      9
ST EDMUNDSBURY CATHEDRAL

Balance sheet as at 31 December 2008


                                         Unrestricted    Restricted     Endowment     2008         2007
                                  Note      fund           funds          funds       Total        Total
                                                 £              £             £          £           £
Fixed assets
Investment assets
Property                            6       900,000                -             -    900,000      900,000
Investments                         7        26,673          144,838             -    171,511    1,044,825
Subsidiary undertakings                         100                -             -        100          100

                                            926,773          144,838             -   1,071,611   1,944,925
Non investment assets
Property                            8     1,445,000                -     3,225,000   4,670,000   4,670,000
Other fixed assets                  9        15,508           80,683             -      96,191      17,087

                                          1,460,508           80,683     3,225,000   4,766,191   4,687,087

Total fixed assets                        2,387,281          225,521     3,225,000   5,837,802   6,632,012

Current assets
Debtors                            11       141,466                -             -     141,466    295,177
Cash at bank and in hand                    425,311          756,420             -   1,181,731    861,044

                                            566,777          756,420             -   1,323,197   1,156,221

Creditors: amounts falling
due within one year                12       238,572                -             -    238,572     171,845

Net current assets                          328,205          756,420             -   1,084,625    984,376


Total assets less current liabilities     2,715,486          981,941     3,225,000   6,922,427   8,582,239

Creditors: amounts falling
due after one year
Loans from third parties           13       375,000                -             -    375,000     375,000


Net assets                                2,340,486          981,941     3,225,000   6,547,427   7,241,388


Fund balances                             2,340,486          981,941     3,225,000   6,547,427   7,241,388


The financial statements were approved by the Chapter on 17 June 2009




The Reverend Canon Michael Hampel
Sub-Dean of St Edmundsbury


                                                        10
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008


1. Accounting policies

       Basis of preparation

         The consolidated accounts have been prepared in accordance with the November 2007 Accounting and
         Reporting Regulations for English Anglican Cathedrals and specified by the Church Commissioners
         under Section 27 of the Cathedral Measure 1999. The consolidated accounts have been prepared under
         the historical cost accounting rules except for the valuation of investment assets and property which are
         shown at market value.

       Group financial statements

         These financial statements consolidate the result of the charity and its wholly owned subsidiary St
         Edmundsbury Cathedral Enterprises Limited and its connected charity St Edmundsbury Cathedral
         Fund on a line by line basis. A separate Statement of Financial Activities, for the charity itself is not
         presented because the charity has taken advantage of the exemption afforded by the Church
         Commissioners guidelines.

       Income

         Voluntary income is accounted for at the time of receipt. Income from grants is accounted for in the
         period in which they are receivable. Investment income is accounted for on the accruals basis.

       Donations, legacies and similar incoming resources

         Donations, legacies and similar incoming resources are included in the year in which they are receivable,
         which is when the charity becomes entitled to the resource.

       Funds held for restricted and designated purposes

         Restricted funds are funds subject to specific conditions imposed by the donor and binding on the
         Cathedral. A designated fund is an unrestricted fund which has been designated for a specific purpose,
         the use of which is at the discretion of the Council.

       Fixed assets

         The Cathedral and its ancillary buildings are heritage assets and accordingly no value has been attributed
         to them in the financial statements. As a result all expenditure incurred at the construction of the
         Millennium tower and other Cathedral enlargement projects have been written off to the Statement of
         Financial Activity in the year it is incurred.

         Other Cathedral properties are included at market value, based on professional valuations carried out by
         Bedford Estate Agents in February 2008. These properties were previously included at their insurance
         valuation. No depreciation is provided in respect of these properties as their regular revaluation will
         recognise any diminution in value.

         Depreciation is provided on all other fixed assets to write off their cost over their estimated useful lives
         using the straight line method as follows:-

         Office equipment                     -   5 years
         Motor vehicle                        -   4 years
         Cathedral Centre equipment           -   10 years
         Musical instruments                  -   30 years

                                                         11
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


1.   Accounting polices (Continued)

       Consecrated land and buildings

         Consecrated and beneficed property is excluded from the accounts by Section 96(2) of the Charities Act
         1993. All expenditure incurred during the year on consecrated or beneficed buildings and moveable
         church furnishings, whether maintenance or improvement, is written off as expenditure in the Statement
         of Financial Activities.

        Investments

         Investments are stated at market value.

       Value Added Tax

         The Cathedral is registered for Value Added Tax, although due to the nature of its activities, only a
         proportion of input tax suffered on expenses may be recovered. Income is shown net of VAT but
         expenditure includes the proportion of irrecoverable VAT.

       Repair, restoration and maintenance of the cathedral

         Repairs and maintenance cost incurred on the Cathedral are written off in the year the cost is incurred.

       Resources expended

         Expenditure is accounted for on an accruals basis.

         Cost of generating funds relate to the costs associated with the provision of amenities for visitors
         together with the costs of managing the property.

         Support costs include central functions and have been allocated to activity cost categories on a basis
         consistent with the use of resources, e.g. staff costs by an estimate of the time spent.

         Governance costs include those incurred in governance of the Cathedral and its assets and are
         primarily associated with constitutional and statutory requirements.

       Stock

         Purchased stock is valued at the lower of cost or net realisable value.




                                                        12
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


2. Incoming resources

                                             Unrestricted          Restricted   Endowment   2008         2007
                                                fund                 funds        Funds     Total        Total
                                                  £                     £            £         £            £
   Voluntary income

   Congregational collections and giving         158,460                    -          -     158,460      147,760
   Donations                                      98,800              235,858          -     334,658      365,115
   Income from appeals and fund raising           12,027              822,785          -     834,812    1,087,241
   Income from Friends and local trusts           47,759                               -      47,759       11,559
   Legacies                                       11,000                    -          -      11,000        8,304

                                                 328,046            1,058,643          -    1,386,689   1,619,979

   Grants receivable

   Church commissioners                                -              189,820          -     189,820     176,255
   Diocese                                         2,000                    -          -       2,000       1,686
   Other revenue grants                           11,532                    -          -      11,532       2,953

                                                  13,532              189,820          -     203,352     180,894

   Charges and fee arising in the course of mission

   Facility and other fees                        32,865                    -          -      32,865      36,025


   Income from activities generating funds

   Gross income of shop and refectory            354,996                    -          -     354,996     357,437
   Income from visitors                            2,812                    -          -       2,812       3,561
   Exhibitions                                     2,218                    -          -       2,218       3,647

                                                 360,026                    -          -     360,026     364,645

   Income from property and investments

   Property                                       47,669                    -          -      47,669      47,681
   Investments                                    69,583               57,825          -     127,408      77,125

                                                 117,252               57,825          -     175,077     124,806

   Other income

   Profit on disposal of fixed assets                 5,632                 -          -       5,632        1,465



   Total income                                  857,353            1,306,288          -    2,163,641   2,327,814




                                                              13
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


3. Cost of generating funds

                                                 Unrestricted   Restricted   Endowment   2008      2007
                                                    fund          funds        funds     Total     Total
                                                      £              £            £         £         £

   Costs of facilities for visitors                   23,653             -           -    23,653    23,740
   Shop, refectory and conference centre costs       290,887             -           -   290,887   296,961
   Cost of services directly recoverable               2,297             -           -     2,297     1,959
   General marketing costs                             3,917             -           -     3,917     9,668
   Investment property costs                           1,920             -           -     1,920     5,158
   Cost of appeals and fundraising                     1,769           660           -     2,429       791
   Support costs                                      26,834        12,498           -    39,332    36,484

                                                     351,277        13,158           -   364,435   374,761




                                                           14
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


4. Expenditure on mission
                                              Unrestricted        Restricted   Endowment   2008         2007
                                                 fund               funds        funds     Total        Total
                                                   £                   £            £         £            £
   Ministry
   Clergy stipends and working expenses             3,414            103,292          -     106,706     110,876
   Clergy housing costs                            15,961                  -          -      15,961      15,205
   Clergy support costs                            11,908              9,104          -      21,012      19,468
   Services, music and congregational costs       100,470             24,937          -     125,407     111,965
   Support costs                                   19,485             16,222          -      35,707      34,313

                                                  151,238            153,555          -     304,793     291,827

   Cathedral and precincts upkeep
   Major repairs and restoration                        -            155,565          -     155,565           -
   Maintenance and interior upkeep                138,876             25,567          -     164,443     110,187
   Cathedral insurance                             30,897                  -          -      30,897      29,321
   Precinct, security and gardens upkeep            4,015                  -          -       4,015       3,895
   Support costs                                   23,023              4,800          -      27,823      27,196

                                                  196,811            185,932          -     382,743     170,599

   Education and outreach
   Educational activities                          44,082              1,072          -      45,154      41,705
   Archives and library                             1,190                  -          -       1,190       2,903
   Charitable and other giving                      7,239                  -          -       7,239       8,775
   Support costs                                      164              1,159          -       1,323       2,451

                                                   52,675              2,231          -      54,906      55,834

   Community, parish & congregation
   Community, parish & congregation                 1,798                  -          -       1,798       2,607
   Support costs                                    7,277              6,704          -      13,981      14,180

                                                    9,074              6,704          -      15,778      16,787

   Cathedral building additions
   Cathedral enlargement building project:
     Building costs                                     -            326,987          -     326,987    1,159,472
     Professional fees and other costs                  -            128,457          -     128,457      144,844

                                                        -            455,444          -     455,444    1,304,316

   Other expenditure
   Bank charges and interest payable                2,420                  -          -       2,420        2,521
   Other items                                      1,445                  -          -       1,445        3,467

                                                    3,865                  -          -       3,865        5,988


   Total expenditure on mission                   413,663            803,866          -    1,217,529   1,845,351




                                                             15
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


5. Net outgoing resources for the year is stated after charging

                                                                                           2008          2007
                                                                                             £             £

     Auditors remuneration for
     - audit services                                                                     5,850           5,350
     - other services                                                                     4,360           2,190
     Depreciation                                                                        12,406          14,583



6. Investment property (Group and Cathedral)
                                                     Unrestricted     Restricted    Endowment           Total
                                                        fund            fund           fund             fund
     Freehold Property                                     £              £              £                £

     At valuation 1 January 2008                           900,000             -               -       900,000
     Net reduction in valuation                                  -             -               -             -

     At valuation 31 December 2008                         900,000             -               -       900,000

      All investment properties are freehold.

      Included above is 3 Crown Street, Bury St Edmunds, which was purchased in 1989 with the assistance of
      loans from the Church Commissioners and the Diocesan Board of Finance. The loans are re-valued in line
      with the property value and on disposal two-thirds and one-sixth of the net proceeds are repayable
      respectively.

7. Investments (Group and Cathedral)
                                                     Unrestricted      Restricted     Endowment           Total
                                                        fund             fund            fund             fund
                                                           £              £                £               £
     Investments at market value
     1 January 2008                                         29,966     1,014,859                   -    1,044,825
     Transfers between funds                                 6,435        (6,435)                  -            -
     Disposals                                                   -      (599,433)                  -     (599,433)
     Net decrease on revaluation                            (9,728)     (264,153)                  -     (273,881)

     31 December 2008                                       26,673       144,838                   -      171,511


    Investments comprise quoted shares of £32,765 (2007 : £858,982), managed funds of £68,946 (2007 :
    £118,035), fixed interest securities of £61,758 (2007 : £59,881) and loan stock of £8,042 (2007 : £7,927).




                                                      16
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


8. Non investment property (Group and Cathedral)
                                                        Unrestricted       Restricted      Endowment            Total
                                                           fund              fund             fund              fund
     Freehold Property                                        £               £                 £                 £

     At valuation 1 January 2008                          1,445,000                -        3,225,000        4,670,000
     Net decrease on revaluation                                  -                -                -                -

     At valuation 31 December 2008                        1,445,000                -        3,225,000        4,670,000

     There are no separate properties for trading activities as the cathedral shop, refectory and conference facilities
     are incorporated within the cathedral buildings.

9. Equipment
                                                        Unrestricted       Restricted      Endowment            Total
     (a) Group                                             fund              fund             fund              fund
                                                             £                  £               £                  £

     Cost                                                   227,304                    -              -        227,304
     Depreciation                                          (197,596)                   -              -       (197,596)

     Net book value at 1 January 2008                          29,708              -                  -          29,708
     Additions                                                  5,200         82,051                  -          87,251
     Depreciation                                             (11,038)        (1,368)                 -         (12,406)

     Net book value at 31 December 2008                       23,870          80,683                  -        104,553

     Cost                                                   232,504           82,051                  -        314,555
     Depreciation                                          (208,634)          (1,368)                 -       (210,002)

     Net book value at 31 December 2008                       23,870          80,683                  -        104,553

     (b) Cathedral
     Cost                                                   146,676                    -              -        146,676
     Depreciation                                          (129,589)                   -              -       (129,589)

     Net book value at 1 January 2008                         17,087               -                  -         17,087
     Additions                                                 4,971          82,051                  -         87,022
     Depreciation                                             (6,550)         (1,368)                 -         (7,918)

     Net book value at 31 December 2008                       15,508          80,683                  -         96,191


     Cost                                                   151,647           82,051                  -        233,698
     Depreciation                                          (136,139)          (1,368)                 -       (137,507)

     Net book value at 31 December 2008                       15,508          80,683                  -         96,191




                                                         17
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


10. Stocks
                                                                  Group                       Cathedral
                                                              2008         2007            2008            2007
                                                              £              £               £               £

     Goods for resale                                        52,170        48,202              -               -


11. Debtors: amounts falling due within one year

     Trade debtors                                           18,535        32,385        15,531           28,121
     Amounts owed by subsidiary undertakings
     and related parties                                          -             -        66,869           67,555
     Prepayments                                             19,366        18,062        16,196           16,058
     Accrued income                                          78,658       224,929        31,292          163,089
     Other debtors                                           13,325        38,260        11,578           20,355

                                                            129,884       313,636       141,466          295,177



12. Creditors: amounts falling due within one year

     Loan – Lord Belstead Charitable Trust                        -       500,000             -                -
     Trade creditors                                        111,073        66,926        67,515           17,244
     Amounts owed to related parties                              -             -        93,387          100,614
     Other taxes and social security                         19,201        19,083         6,368            5,979
     Other creditors                                         16,209        15,968        11,973           12,766
     Accruals and deferred income                            73,635        60,053        59,329           35,242

                                                            219,938       662,030       238,572          171,845


    The Lord Belstead Charitable Trust agreed to convert the above loan to a donation during the year.

13. Creditors: amounts falling due after more than one year
     Group and Cathedral
                                                                                           2008            2007
                                                                                             £               £

     Diocesan Board of Finance and Church Commissioners
     Secured interest free loans repayable on sale of 3 Crown Street                    375,000          375,000

     This finance capital is due for repayment as follows:

     Amounts repayable:
     In more than five years                                                            375,000          375,000




                                                       18
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


14. Employees
      (a) Number of full time equivalent employees
     The average number of employees during the year was 25 (St Edmundsbury Cathedral 14, St Edmundsbury
     Cathedral Enterprises Limited 11 (including 6 directors).

     (b) Emoluments                                                                             2008         2007
                                                                                                   £            £
     St Edmundsbury Cathedral                                                                 397,263      374,536
     St Edmundsbury Cathedral Enterprises Limited                                              82,886       83,996

                                                                                              480,149      458,532

     The emoluments total includes employers NI contributions and pension contributions of ££23,894 and £32,289
     respectively.
     The directors of St Edmundsbury Cathedral Enterprises Limited did not receive any remuneration for the year.
     No employee earned more than £60,000 in the year.

     Trustee remuneration (members of the Cathedral Chapter are also regarded as Trustees for Charitable
     purposes)

     During the year 3 (2007: 3) of the Cathedral‟s clergy, who are also trustees, received the following
     remuneration (included above) in their capacity as Cathedral clergy:
                                                                                        2008         2007
                                                                                          £            £
     Stipends (including employers NI contributions)                                  74,467       79,394
     Pension contributions                                                            22,489       23,885

                                                                                               96,956      103,279


15. Transfers

      The transfer from restricted to unrestricted funds of £6,574 relates to unrestricted investment income on
      restricted investments.

16. Financial commitments
      As at 31 December 2008 the total future expenditure committed under contract by the Cathedral Chapter
      but not provided in these financial statements was as follows:-
                                                                                           2008        2007
                                                                                             £           £
     Cathedral enlargement project                                                                   -     300,000




                                                       19
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


17. Related entities

      (a) Wholly owned trading subsidiary
            The Cathedral has a wholly owned trading subsidiary, St Edmundsbury Cathedral Enterprises
            Limited. This company‟s principal activities relate to the Cathedral shop, the refectory and
            conference facilities. Most of the subsidiary‟s taxable profits are donated to the Cathedral under gift
            aid. The financial statements of the company for the year ended 31 December 2008 are
            consolidated in these financial statements. An extract from the company‟s financial statements is
            provided below:

                                                                                            2008            2007
                                                                                             £               £

             Turnover                                                                    354,996         357,437

             Cost of sales                                                              (137,230)       (141,428)

             Gross profit                                                                217,766         216,009

             Administrative expenses                                                    (153,657)       (155,533)


             Operating profit                                                             64,109          60,476

             Interest receivable                                                                -             333
             Interest payable                                                                   -          (2,000)

             Profit before contributions to Cathedral                                     64,109          58,809

             Rent to Cathedral                                                           (19,200)               -
             Payments under gift aid                                                     (46,493)         (61,019)

             Loss on ordinary activities after taxation                                   (1,584)          (2,210)

             Retained profit brought forward                                               8,814          11,024

             Retained profit carried forward                                               7,230            8,814



             Balance Sheet

             Fixed assets                                                                  8,362           12,621
             Current assets                                                               92,064           90,541
             Current liabilities                                                         (93,096)         (94,248)

             Total net assets                                                              7,330            8,914




                                                       20
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


18.   Related entities (Continued)

      (b) Connected Charity
            The Cathedral Fund, Bury St Edmunds is a separate registered charity which has been utilised to
            administer a number of fund-raising appeals for the development of the Cathedral in previous years.
            The Suffolk Cathedral Millennium Appeal was launched during 1998 to aid financing of major
            Cathedral development work. The financial statements of the Cathedral Fund which reflect the
            income and expenditure of this appeal for the year ended 31 December 2008 are consolidated in
            these financial statements. An extract of this charity‟s financial statements are provided below:

                                                                                       Restricted fund
                                                                                       2008            2007
                                                                                        £                £
             Incoming resources
             Grants from Millennium Commission                                      139,136         813,780
             Contribution from Dykes Bower Bequest                                  183,015         237,287
             Donations                                                            1,100,067          18,845
             Deposit interest                                                        11,837             662

             Total incoming resources                                             1,434,055       1,070,574

             Resources expended

             Direct charitable expenditure
             Building project                                                       465,751       1,323,992
             Other expenditure
             Fundraising and appeal costs                                               660             600
             Governance costs                                                         1,423           1,275

             Total resources expended                                               467,833       1,325,867


             Net incoming/(outgoing) resources for the year                         966,222        (255,293)

             Fund balances at 1 January 2008                                        (49,526)        205,767

             Fund balances at 31 December 2008                                      916,696         (49,526)


             Balance Sheet

             Fixed assets                                                                 -               -
             Current assets                                                         965,066         515,275
             Current liabilities                                                    (48,370)       (564,801)

             Total net assets / (liabilities)                                       916,696         (49,526)




                                                      21
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


18.   Related entities (Continued)

      (c) Associated organisations
             The following associated entities are not controlled by the Chapter and do not provide direct
             material financial benefit to the Cathedral. They are therefore not included in these consolidated
             financial statements.

            Friends of St Edmundsbury Cathedral
            St Edmundsbury Cathedral Choir - Tour Fund
            Friends of St Edmundsbury Cathedral Choir.

       A summary of the associated organisations financial statements are shown below:

                                                       Friends of St      St Edmundsbury         Friends of St
                                                      Edmundsbury         Cathedral Choir       Edmundsbury
                                                        Cathedral           – Tour Fund        Cathedral Choir
                                                            £                    £                      £

       Gross income                                          33,634                   10               10,562


       Net income/(expenditure)                             (20,957)              (2,737)               6,470


       Amount paid to or for the Cathedral                   52,865                     -                    -


       Gross and net assets                                 113,459                     -              11,372



      The financial statements for Friends of St Edmundsbury Cathedral Choir are for the year ended 31 August
      2008, the other two organisations results are for the year ended 31 December 2008.

      The difference between the amount paid to the Cathedral by the „Friends‟ of £52,865 and the amount shown
      as income on the financial statements of £47,759 relates to amounts paid directly by the „Friends‟ on behalf
      of the Cathedral.




                                                       22
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)

19      Summary of funds
        (a) Restricted Funds
                                                                              Fund movement                                                                 Asset analysis at 31 December 2008
                                        Balance at   Unrealised                  Income     Expenditure      Fund       Balance      Fixed assets Investments    Bank/B.Soc        Debtors/
                                          1.1.08     gain/(loss)    New funds    for year     for year     transfers   at 31.12.08                                 deposits       (creditors)      Total
                                              £            £            £            £            £           £              £               £            £            £                 £           £
Restricted Capital Funds
Cathedral Properties Fabric Fund           4,198       (1,746)            -           -               -           -       2,452              -        2,452                -            -          2,452
Vaulted Ceiling Fund                     646,750      (40,882)            -           -               -    (605,868)          -              -            -                -            -              -
Choir Music and Books                      3,996            -           819         440          (3,430)                  1,826              -           71            1,755            -          1,826
Eastgate School                           28,605      (11,896)            -           -               -           -      16,708              -       16,708                -            -         16,708
Tom Long Charity                             923            -             -           -            (923)          -           -              -            -                -            -              -
St James' Feoffment Trust                  4,295       (1,382)            -         245            (130)                  3,028              -        1,941            1,198         (111)         3,028
Whitewick Legacy                           1,921         (799)            -           -               -           -       1,122              -        1,122                -            -          1,122
Cathedral Music                              850         (584)            -           -             (30)          -         236              -        2,151           (1,915)           -            236
Flower Fund                                1,171          142             -          53             (53)          -       1,313              -        1,346              (33)           -          1,313

                                         692,708      (57,147)          819         738          (4,565)   (605,868)     26,685             -        25,791            1,005         (111)        26,685

Restricted Income Funds
Garside Bequest                           55,408       (7,990)             -       1,416          (150)          -       48,684             -        11,222          37,462             -         48,684
Choir (Trevelyan) Fund                       543         (147)             -          26          (283)       (139)           -             -           206            (206)            -              -
Nave Roof Fund                            58,497            -        150,200       2,807      (155,565)          -       55,939             -             -          55,939                       55,939
Phillips Memorial Musical Fund             3,125         (844)             -         150             -           -        2,429             -         1,186           1,243             -          2,429
Whitewick Legacy                           1,143         (411)             -          73             -                      805             -           578             227             -            805
Kingsley Legacy                            3,190            -              -           -             -            -       3,190             -             -           3,190             -          3,190
Organ Restoration Fund                    54,526      (12,266)             -       2,174             -            -      44,434             -        17,228          29,494             -         44,434
Organ appeal 2002                        566,380            -          2,468      31,834          (550)           -     600,131             -             -         600,131             -        600,131
Organ Casings fund                       212,232     (185,902)             -           -             -            -      26,330             -        26,330               -             -         26,330
Applegate fund                               792            -              -           -             -            -         792             -             -             792             -            792
Garden of remembrance                        961            -            321           -             -            -       1,282             -             -           1,282             -          1,282
Hasted Bequest                            84,035        1,877              -       6,771        (4,934)           -      87,750             -        61,758          25,992             -         87,750
Appeal Fund                                2,807            -              -           -             -            -       2,807             -             -           2,807             -          2,807
Piano fund 2008                                -            -         82,051           -        (1,368)           -      80,683        80,683                             -             -         80,683
Church Commissioners                           -            -        189,820           -      (189,820)           -           -             -              -              -             -              -

                                        1,043,638    (205,683)       235,039     235,070      (352,669)       (139)     955,256        80,683       118,047         756,063             -        955,256

Total Restricted Funds - Cathedral      1,736,346    (262,830)       235,858     235,808      (357,234)    (606,007)    981,941        80,683       144,838         756,529          (111)       981,941

St Edmundsbury Cathedral Fund             (49,526)           -      822,785      11,837       (467,834)    599,433      916,,695            -              -        819,124        97,571        916,695

Total Restricted Funds - Consolidated   1,686,820    (262,830)     1,058,643     247,645      (825,068)      (6,574)   1,898,636       80,683       144,838        1,575,653       97,460    1,898,636



                                                                                            23
ST EDMUNDSBURY CATHEDRAL

Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


19    Summary of funds (continued)
      (a) Restricted funds

      The purpose of the principal restricted funds are as follows:

      Restricted capital funds
      Cathedral Properties Fabric Fund       - Maintenance of the fabric of the Cathedral
      Vaulted Ceiling Fund                   - Funds provided for the vaulted ceiling in the Millennium tower
      Choir Music and Books                  - Provision of Choir music
      Eastgate School                        - Music education to local children
      Tom Long                               - General expenses of the Cathedral
      St James‟ Feoffment Trust              - Provision of income for the Dean (45%) and for the
                                               maintenance of the fabric of the Cathedral
      Cathedral Music                        - Vocal training for Choristers
      Flower fund                            - To provide income for flowers for the Cathedral

      Restricted income funds
      Garside bequest                        - To cover general expenses of the Cathedral except maintenance
      Choir (Trevelyan) Fund                 - Choir general expenses
      Phillips Memorial Fund                 - Promotion of Choir concerts
      Kingsley legacy                        - Maintenance of the fabric of the Cathedral
      Organ restoration fund                 - Restoration of the organ
      Organ appeal 2002                      - Restoration of the organ
      Organ Casings fund                     - Funds for new organ casing
      Piano fund 2008                        - Funds for new piano
      Applegate fund (Hymn books)            - Provision of service books
      Hasted bequest                         - For use in the choir and music department
      Garden of remembrance                  - Maintenance of the garden of remembrance




                                                                             24
ST EDMUNDSBURY CATHEDRAL




Notes to the consolidated financial statements for the year ended 31 December 2008 (Continued)


19       Summary of funds (continued)
         (b) Unrestricted Funds
                                                                               Funds movement                                                  Asset analysis at 31 December 2008
                                                                                                                                                                     Bank/
                                         Balance                            Income     Expenditure                   Balance                       Other             B.Soc          Stock/
                                            at       Unrealised     New       for          for             Fund         at         Quoted            fixed         deposits/       Debtors/     Long term
                                  Note    1.1.08       gain        Funds     year         year           transfers   31.12.08    investments       assets         (overdraft)     (creditors)    creditors      Total
                                              £          £           £            £        £                 £              £           £               £                 £            £               £          £
Designated Funds
Cockram Bequest - Capital                  30,442          (35)         -      1,784           -               -        32,190        6,625             -            25,565               -             -      32,190
Mothersole Legacy
- Song School                               2,834            -          -        200      (3,034)              -             -            -             -                 -               -             -           -
- Organ Restoration                        94,226            -          -      5,314       3,034               -       102,574            -             -           102,574               -             -     102,574
Missionary giving account           14        116            -                     -      (4,000)          4,000           116            -             -               116               -             -         116
L J Alderton (Historic Library)               758            -         -           -        (126)              -           632            -             -               632               -             -         632
Pilgrimage fund                               305            -         -           -           -               -           305            -             -               305               -             -         305
St Ed Singers fund                            371            -         -       2,320      (2,059)              -           631            -             -               631               -             -         631
Kagera                                        578            -         -           -      (1,078)            500             -            -             -                 -               -             -           -
St Cecilia chorale                            429            -         -           -         (10)              -           419            -             -               419               -             -         419
Conran Fund                                 5,240            -       950       2,058      (3,414)              -         4,834            -             -             4,834               -             -       4,834
Marion Mingins Fund                           912            -       459           -      (1,500)            500           371            -             -               371               -             -         371
Bells Appeal                                  254            -         -          14           -               -           268            -             -               268               -             -         268
Properties Fund 2008                            -            -         -           -           -          16,500        16,500            -             -            16,500               -             -      16,500
Disabled Access Fund 2008                       -            -         -           -           -          37,000        37,000            -             -            37,000               -             -      37,000

                                          136,464          (35)     1,409    11,690      (12,186)         58,500       195,842        6,625             -           189,217               -             -     195,842

General fund                             2,140,374     (11,015)   450,565    57,893     (445,304)        (51,926)    2,140,587       20,049     2,360,508           138,808         (3,878)      (375,000)   2,140,487

Total unrestricted
funds - Cathedral                        2,276,838     (11,050)   451,974    69,583     (457,490)          6,574     2,336,429       26,674     2,360,508           328,025         (3,878)      (375,000)   2,336,329


St Edmundsbury Cathedral
Enterprises Limited                          8,814           -          -   354,996     (356,580)              -         7,230            -         8,362            33,706        (34,738)             -       7,330

Total unrestricted funds –
consolidated                             2,285,652     (11,051)   451,974   424,579     (814,070)          6,574     2,343,659       26,674     2,368,870           361,731        (38,616)      (375,000)   2,343,659




                                                                                                    25
              ST EDMUNDSBURY CATHEDRAL

                MANAGEMENT INFORMATION




The following pages do not form part of the statutory financial statements
  which are the subject of the independent auditors' report on page 7.




                                   26
ST EDMUNDSBURY CATHEDRAL

Notes for management purposes only for the year ended 31 December 2008


1   Congregational collections and givings
                                                                2008      2007

     Collections                                                 54,520    51,939
     Christian stewardship contributions                        103,940    95,821

                                                                158,460   147,760


2   Facilities and other fees
     Weddings and funerals                                        7,794   11,606
     Concerts and recitals                                       16,477   13,523
     Discovery Centre income                                      8,594   10,896

                                                                 32,865   36,025


3   Income from visitors
     Boxes                                                       65,919   66,979
     Treasury                                                       992      690
     Guided tours                                                 2,812    3,561

                                                                 69,723   70,130


4   Cost of facilities for visitors

     Staff costs                                                 14,918    14,489
     Travel and training                                            810       540
     Advertising                                                  1,315     2,202
     Printing and stationery                                      2,869     3,337
     Subscriptions                                                  973       856
     Hospitality                                                  1,109     1,077
     Friends expenditure                                          1,588     1,173
     Sundry                                                          71        66

                                                                 23,653    23,740




                                                27
ST EDMUNDSBURY CATHEDRAL

Notes for management purposes only for the year ended 31 December 2008 (Continued)



5   Services, music and congregational costs
                                                                             2008      2007
                                                                                £         £
     Music staff                                                            52,505    40,730
     Housing                                                                 4,947     5,875
     Choir expenditure                                                      13,013    12,957
     Organ repairs                                                           2,629     3,793
     Liturgy and sanctuary expenditure                                       6,240     6,453
     Broadcast costs, music fees and commissioned work                       4,790     5,096
     Music tuition                                                           4,934     2,788
     Support costs (including vergers and cleaners)                         36,348    34,273

                                                                           125,407   111,965



6   Educational activities – Discovery Centre

     Staff and Teaching costs                                               29,875    29,800
     Equipment and materials                                                 2,566     2,952
     Rates, gas, electricity, insurance and cleaning                         3,663     3,380
     Repairs and maintenance                                                 1,122       947
     Discovery Centre Mission                                                    -       570
     Keswick Hall                                                            1,100     2,803
     Suffolk Show                                                            5,704         -
     Sundry costs                                                            1,124     1,253

                                                                            45,154    41,705



7   Support costs
     Vergers and cleaning                                                   51,683    52,190
     Cathedral utilities                                                    18,188    17,042
     Maintenance staff, vehicle and health and safety                       33,415    26,326
     Concerts and exhibitions                                                7,568     7,331
     Administrative staff costs                                            100,847    93,526
     Utilities and insurance                                                 5,804     5,117
     Printing and stationery                                                 3,616     2,775
     Postage                                                                 1,641     1,299
     Telephone                                                               6,099     8,392
     Computer costs                                                          5,162     3,966
     Office repairs                                                            652       480
     Depreciation                                                            4,759     6,789
     Other                                                                   1,893       838

                                                                           241,327   226,071




                                                        28
ST EDMUNDSBURY CATHEDRAL

Notes for management purposes only for the year ended 31 December 2008 (Continued)


8   Missionary giving account (designated unrestricted fund)

                                                                   2008                   2007
                                                              £             £        £             £

     Balance at 1 January 2008                                             116                     96
     Allocation from Christian Stewardship
     Contributions                                                        4,000                  4,000
     Other income                                                             -                     20

                                                                          4,116                  4,116
     Less: Donations -
     Afrikids                                                250                      -
     Anthony Nolan Bone Marrow Trust                           -                    750
     Bury St Edmunds Chilidrens‟ Home                        250                      -
     Bury St Edmunds Citizens Advice Bureau                    -                    500
     Church Missionary Society                                 -                    500
     College of St Barnabas (Home for elderly clergy)          -                    250
     East Anglian Childrens‟ Hospice                         500                      -
     Jachie                                                  500                      -
     Kagera Diocese                                          500                  1,000
     Livability                                              500                      -
     Ngenda Sabeherne (Kagera)                               500
     St John‟s Ambulance                                     250                     -
     Shelter                                                 250                     -
     USPG                                                    500                     -
     Vila Maninga (Mozambique)                                 -                   500
     West Suffolk Association for the Blind                    -                   500

                                                                          4,000                  4,000

     Balance at 31 December 2008                                           116                    116




                                                        29
ST EDMUNDSBURY CATHEDRAL

Notes for management purposes only for the year ended 31 December 2008 (Continued)


9   Investments
                                                                Cost                    Market value
                                                        2008            2007          2008         2007
                                                          £               £             £            £
     Unrestricted Funds
     Cockram Bequest - capital
     £6,290 8% Treasury Stock 2009                      5,944           5,944         6,625       6,660
     Chapter Reserve (general fund)                    32,992          32,992        13,613      23,306
     Experian Group ordinary shares                     5,811               -         4,320           -
     Home Retail Group ordinary shares                  3,974               -         2,115           -

                                                       48,721          38,936        26,673      29,966

     Restricted Funds
     Central Board of Finance
     Fixed interest securities
     Hasted Bequest                                    70,000          70,000        61,758      59,881
     Choir Music and Books
     £79 3½% War Loan Stock                               79              79            71          63
     Flower Fund
     £1,500 3½ % War Loan Stock                          540             540          1,346       1,204

     New Star High Yield Bond Unit Trust

        Eastgate School                                40,492          40,492        16,708      28,604
        Tom Long Charity                                1,306           1,306           539         922
        St James' Feoffment Trust                       4,512           4,512         1,941       3,323
        Whitewick Legacy                                4,119           4,119         1,700       2,910
        Garside Bequest                                27,196          27,196        11,222      19,212
        Organ Restoration Fund                         41,750          41,750        17,228      29,493
        Cathedral Music                                 4,211           4,211         2,151       3,683
        Choir (Trevelyan) Fund                            499             499           206         353
        Phillips Memorial Musical Fund                  2,875           2,875         1,186       2,031
        Cathedral Properties Fabric Fund                5,942           5,942         2,452       4,198

     Vaulted Ceiling Fund

        GlaxoSmithKline 25p ordinary shares                 -      741,000                -     639,500
        Experian Group ordinary shares                      -        5,811                -       3,970
        Home Retail Group ordinary shares                   -        3,974                -       3,280

     Organ Casing Fund
        Royal Bank of Scotland ordinary shares        250,000      250,000           26,330     212,232


     Total Restricted Funds investments               944,521      954,306       144,838      1,014,859


     Total investments                                993,242      993,242       171,511      1,044,825




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