LEICESTER CATHEDRAL MUSIC FOUNDATION
Grant scholarships or bursaries to and train musicians, choristers and choirs to help them progress in their music training and experience; provide grants to support the salaries of staff in the music department; provide and maintain music, musical instruments etc. used for music within the Cathedral; provide musical and choral education in schools, churches and the community.
Financial health, per its FY2024 accounts
The accounts state that unrestricted reserves stood at £103,261, which the Trustees consider comfortably exceeds their stated policy target of covering governance costs of around £4,400. The charity reported a net movement in funds of £15,417 for the year, with total net assets increasing to £748,055. The Trustees confirmed that the charity has sufficient reserves to continue to meet its charitable objectives.
What the accounts disclose
“Donations and legacies 3 34,386 42,000 - 76,386” — page 11
“The Trustees consider that an appropriate level of unrestricted reserves should be sufficient to cover any Governance Costs, around £4,400” — page 6
“The Foundation made grants to the Cathedral in relation to the musical work of the Cathedral, totalling £70,386 (2023: £58,950). At the end of the year the charity owed the Cathedral £50,386 (2023: £27,073). At the end of the year the Cathedral owed the charity £nil (2023: Enil). The Music Foundation is vital in supporting the work of the Cathedral Chapter and the College of Canons in developing the musical life of the Cathedral in all its aspects. The trustees of the Music Foundation are nominated by Leicester Cathedral. The results of the Leicester Cathedral Music Foundation have, therefore, been included in the consolidated results of Leicester Cathedral. During the year, the Foundation received donations from Trustees totalling £2,600 (2023: £6,780). The Foundation also received a grant of Enil (2023: Enil) from William Hercock Limited, a company owned by one of the trustees.” — page 26
Trustees
- LADY JENNIFER ANN GRETTON JP
- Philip Leech
- Rev Karen Rooms
- Robert John Allison
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £95k | £88k |
| 31/12/2023 | £257k | £160k |
| 31/12/2022 | £108k | £44k |
| 31/12/2021 | £123k | £22k |
| 31/12/2020 | £124k | £106k |
Common questions
Is LEICESTER CATHEDRAL MUSIC FOUNDATION financially healthy?
Per its FY2024 accounts: The accounts state that unrestricted reserves stood at £103,261, which the Trustees consider comfortably exceeds their stated policy target of covering governance costs of around £4,400. The charity reported a net movement in funds of £15,417 for the year, with total net assets increasing to £748,055. The Trustees confirmed that the charity has sufficient reserves to continue to meet its charitable objectives. Its FY2024 accounts were independently examined.