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|||Page||
|---|---|---|---|
|Reference and Administrative
Details||||
|Trustees' Report|2|to|5|
|Report ofthe independent
Auditom|6|to|8|
|Statement ofFinancial Activities||||
|Balance Sheet||||
|Notes to the Financial Statements|11|to|21|
|Detailed Statement ofFinancial Activities||22||
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||||f|
or the Year Ended 5th April|2023||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||Unrestricted|Total|
||||||funds|funds|
|||||Notes|8|2|
|INCOME AND ENDOWMENTS|||FROM||||
|Donations
snd legacies|||||85,000|155,000|
|Income from Investments|||||273,534|241,098|
|Total|||||~358534|~396098|
|EXPENDITURE ON|||||||
|Raising funds|||||||
|Investment
management||costs|||33,809|36,291|
||||||33,809|36,291|
|Charitable
activities|||||||
|Grants issued|||||310,249|281,086|
|Supportcosts|||||72,675|72,960|
|Total|||||418,533|390,357|
|Net gains on investments|||||445,853|~122537|
|NET INCOME|||||387,854|128,278|
|RECONCILIATION|OF|FUNDS|||||
|Total funds brought|forward||||4,603,698|4,475,420|
|TOTAL FUNDS CARRIED FORWARD|||||~4991552|4,603,696|
##
|||||||Balance Sheet|Balance Sheet||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||5th April 2023|||||||
||||||||||||2023|2022|
||||||||||||Unrestricted|Total|
||||||Notes||||||funds
f|fundsf|
|FIXEDASSETS|||||||||||||
|Tangible assets|||||14||||||498||
|Invesbnenta|||||||||||||
|Investments|||||15||||||2,233,229|2,465,811|
|Investment
property|||||16||||||3,105,000|2,440,000|
||||||||||||5,338727|4905811|
|CURRENT ASSETS|||||||||||||
|Debtors|||||17||||||6,863|10,017|
|Cash at bank|||||||||||110,250|113,004|
||||||||||||117,113|123,021|
|CREDITORS|||||||||||||
|Amounts
falling
NET CURRENT|due within
ASSETS||one|year|18||||||(311,388)
(276,284)
~5 ~33213||
|TOTAL ASSETSLESSCURRENT LIABILITIES|||||||||||5,144,452|4,762,548|
|CREDITORS|||||||||||||
|Amounts
falling|dus after more|||than one year|19||||||(152,900)|(148,850)|
|NET ASSETS|||||||||||4,991,552|4,603,698|
|FUNDS|||||||||||||
|Unrestricted
funds:|||||||||||||
|General unrestricted||fund|||||||||4,991,552|4,603,698|
|TOTAL FUNDS
These financial
statements
have been prepared
subject to the small companies
regime.
1
1
i«1|||||in
d|accordance|with the provisions
d
1
df|||a|4,991,552
applicable
to charitable
...Irt(2/r|4,603,698
companies
|
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|||||||||2023f|2022f|
|---|---|---|---|---|---|---|---|---|---|
|Donation|from Countess|||Beauchamp||Charitable|Trust|85,000|155,000|
|INCOME|FROM INVESTMENTS|||||||||
|||||||||2023f|2022f|
|Rents receivable||||||||178,536|149,871|
|Income from listed||investments||||||94,928|91,217|
|Bank interest||||||||70|10|
|||||||||~273534|~241 098|
|INVESTMENT MANAGEMENT|||||COSTS|||||
|||||||||2023f|2022f|
|Listed investment||management|||fees|||13,942|7,365|
|Properly|management||costs|||||9,146|6,926|
|Property|repairs|||||||7,403|13,969|
|Properly|rates and|water||||||812|231|
|Property|utilities||||||||(266)|
|Property
insurance
Legal and professional|||fees|||||806
~1500|1,181
~6885|
|||||||||~33609|~36 291|
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##
|The grants
paid during|t|he|ye|ar|were as foll|ow|s:|||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023
f|2022|
|Elmley Small Grants|Arts Fund|||||||12,625|11,202|
|(see note below)||||||||||
|Main Programme:||||||||||
|Combined
Aria||||||||||
|Broadway Arts Festival||||||||2,000|2,500|
|Bromsgrove
&Redditch||Network||||||5,000||
|Churches
Conservation||Trust|||||||5,000|
|Courtyard
Centre For The|||Arts||||||10,000|
|Crave Arts|||||||||1,500|
|Worcester City Council|||||||||30,000|
|Dance||||||||||
|2Faced Dance Company||||||||10,000|14,500|
|DanceFest|||||||||4,000|
|Film and Media||||||||||
|Borderlines
Film Festival||||||||12,000|10,000|
|Rural Media Charity||||||||12,000|12,000|
|Literature||||||||||
|Ledbury
Poetry Festival||||||||15,000|12,000|
|Music||||||||||
|Autumn
in Malvern
Festival||||||||2,300||
|Bromsgrove Concerts||||||||3,000|2,000|
|Bromsgrove
International|||Young||Musicians'|C|ompetition||3,500|
|Evesham Abbey Trust|||||||||3,500|
|Hagley Parochial
Church|||Council|||||3,250||
|Hereford Cathedral
(Chorister)||||||||8,000|6,500|
|Jazz In Malvern|||||||||3,000|
|The Linarol Consort OfViols|||||||||750|
|Longborough
Festival|Opera|||||||2,800|2,046|
|The Black Mountains
Chamber|||||Music Trust|||1,000||
|The OHMI Trust|||||||||1,700|
|Orchestra
of The Swan||||||||15,000||
|Pershore
Midsummer|Brass|||||||1,000||
|Presteigne
Festival||||||||15,000|10,000|
|Sound Affairs|||||||||1,000|
|The Midland
Sinfonia||||||||2,000||
|The Three Choirs Festival||||||||30,000|26,936|
|Worcester Cathedral||||||||8,000|21,225|
|Worcester Concert Club||||||||1,400||
|Wychavon
Festival Of|Brass|||||||4,000|3,000|
|Theatm||||||||||
|Arts Uplift CIC||||||||5,000||
|Coach House Theatre||||||||2,500|2,500|
|John Masefield
High School &S&xth Form Centre||||||||5,000||
|Malvern
Youth 3 Community||||Trust||||5,600||
|Pentabus
Arts Limited||||||||4,000||
|Reaction Theatre Makers||||||||2,000||
|Strange Futures||||||||3,000||
|Vamos Theatre||||||||5,000|3,500|
##
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|GRANTS PAYABLE - co|ntinued|||
|---|---|---|---|
|Visual Arts and Crafts||||
|Carpet Museum
Trust||3,000||
|Garage Art Group|||2,000|
|Jigsaw Community
Foundation|||4,500|
|Meadow Arts||5,000|8,500|
|Museum
of Royal Worcester||15,000|15,000|
|Museums
Worcestershire||5,000||
|Paradise Multimedia||3,000||
|Worcester Paint Festival||2,000|2,000|
|Students||||
|Hereford College ofArts||2,800|2,800|
|National
Youth Orchestra|ofGreat Britain|10,000|5,000|
|National
Youth Choir ofGreat Britain||2,600|2,000|
|Grants to individual
students||22,650|32,800|
|Total grants paid in year||268,525|278,459|
##
||||2023I24
f|2024I25
f|2025/26
f|
|---|---|---|---|---|---|
|2Faced Dance Company|||10,000|||
|Alloy - Hereford Jewellers||Group|2,000|||
|Arts Alive|||7,500|7,500|7,500|
|Autumn
in Malvern
Festival|||2,300|2,300||
|Bewdley Festival|||5,000|||
|Boarderlines
Film Festival|||12,000|12,000||
|Broadway
Arts Festival|||4,500|||
|Bromsgrove
&Redditch|Network||5,000|5,000||
|Churches
Conservation|Trust||5,000|||
|Craftspece|||3,000|||
|CUP Ceramics
Community||CIC|1,785|||
|Hay Festival|||20,000|||
|Hereford
Cathedral|||8,000|8,000||
|Ledbury
Poetry Festival|||15,000|15,000||
|Longborough
Festival Opera|||3,500|3,200||
|Malvern Theatre|||12,500|12,500|12,500|
|Meadow Aria|||5,000|||
|National
Youth Choirs ofGreat Britain|||3,500|||
|Presteigne
Festival Of Music And The Arts|||15,000|15,000||
|Rural Media Charity|||12,000|||
|Vamos Theatre|||5,000|||
|Worcester Cathedral|||8,000|8,000||
|Worcester Concert Club|||1,400|1,400||
|Worcester Mela|||15,000|||
|Worcester Porcelain
Museum|||20,000|20,000|20,000|
|Wychavon
Festival Of Brass
Individual
students|||4,000X|3,000||
|Total|||218485|112900|05000|
##
##
##
|9.|GRANTS PAYABLE||continued|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2023f|2022
f|
||Creditors: amounts
falling due within one||||year|||218,485|183,950|
||Creditors: amounts
falling due after more||||than|one year|||148,850|
|||||||||371,385|332,800|
||Grants issued
in the current year not yet||||paid|||199,285|208,800|
||Grants issued
in prior|years not yet paid||||||172,100|124,000|
||||||||||, 00|
|||||||||2023
f|2022f|
||Grants paid
in the year|||||||268,526|278,459|
||Less grants
paid in the||year approved|in|prior years||(see note below)|(160,700)|(205,007)|
||Plus grants approved
Less grants approved|in the current year not paid before the year end
in prior years cancelled
in the year||||||199,286|208,800
~3,430|
||Grants per Statement|of Financial Activities||||||307,110|278,822|
||Grants paid in the year||approved
in prior years|||are as follows:||||
|||||||||2023f|2022f|
||2022 total grant creditor falling due within||||1 year|||183,950|234,887|
||Lese grant payments
originally
due in 2023 deferred
Less grants approved
in prior years cancelled
in the||||||until future years
year|(23,250)|(26,250)
~3,430)|
|||||||||160,700|205,007|
|10.|SUPPORT COSTS|||||||||
||Support costs, included||in the above, are||as follows:|||||
|||||||||2023|2022|
|||||||||f|f|
||Wages|||||||64,631|53,257|
||Social secunty|||||||293|909|
||Pensions|||||||147|139|
||Small grants management
fees|||||||4,500|4,500|
||Event attendance
costs|||||||3,382|493|
||Office costs|||||||3,401|2,816|
||Travel and subsistence
Sundry costs|||||||6,242
'992|4,740
630|
||Auditors'
remuneration||- audit fees|||||4,170|4,710|
||Auditors'
remuneration||- other services|||||36|36|
||Professional fees||||||||750|
||Adjustment
to input VAT in regard to prior year expenditure|||||||(5,366)||
||Depreciation
on tangible fixed assets|||||||246||
|||||||||72,675|~72 980|
##
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|The a|verage
monthly
number
ofemployees
during|the year was as follows:||
|---|---|---|---|
|||2623|2022|
|Chief|executive|1|1|
|Office|staff|1|1|
|TANGIBLE|FIXEDASSETS|||
|---|---|---|---|
||||Office|
||||equipment|
||||2|
|COST||||
|At 6th April|2022||3,556|
|Additions|||744|
|Disposals|||~507)|
|At 5th April|2023||4,093|
|DEPRECIATION||||
|At 6th April|2022||3,856|
|Charge for|year||246|
|Eliminated|on disposal||~507)|
|At 5th April|2023||3,595|
|NET BOOK VALUE||||
|At 5th April|2023||495|
|At 5th April|2022|||
|||Page 17|continued. ..|
##
|15.|FIXEDASSETINVESTMENTS||
|---|---|---|
|||Listed|
|||investments|
|||F|
||MARKET VALUE||
||At 6th April 2022|2,465,811|
||Additions|182,386|
||Disposals
Revaluations|(195,820)
~219147)|
||At 5th April 2023|~2233 229|
||NET BOOK VALUE||
||At 5th April 2023|2,233,229|
||At 5th April 2022|2,465,811|
|16.|INVESTMENT PROPERTY||
|||2|
||FAIR VALUE||
||At 6th April 2022|2,440,000|
||Revaluation|665,000|
||At 5th April 2023|~3105000|
||NET BOOK VALUE||
||At 5th April 2023|~3105,000|
||At 5th April 2022|~2440 000|
||The value of|investment|property
under historical cost accounting
is as|follows:||
|---|---|---|---|---|---|
|||||2023
6|2022f|
||Cost
Impairment|||2,367,460
~614701)|2,357,450
~649 701)|
|||||1,752,749|1,717,749|
|17.|DEBTORS:|AMOUNTS|FALLING DUE WITHIN ONE YEAR|||
|||||2023|2022|
|||||5|f|
||Prepayments|and accrued income||~6863|10,017|
##
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##
|CREDITORS: AMOUNTS
FALLING DUE WITHIN ON|E YEAR||
|---|---|---|
||2023
5|2022
f|
|VAT|8,102|6,614|
|Other creditors|41,994|41,969|
|Grants payable (note 9)|218,485|183,950|
|Accruala|5,042|5,673|
|Deferred income|~37765|3$,078|
||~311388276,254||
##
||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||5|2|
||Grants payable (nots||9)||||~152900|148,$50|
|20.|MOVEMENT|IN FUNDS|||||||
||||||||Net||
||||||||movement|At|
|||||||At6.4.22
2|in funds
f|5.4.23
2|
||Unrestricted|funds|||||||
||General unrestricted||fund|||4,603,69$|387,854|4,991,552|
||TOTAL FUNDS|||||~4603698|~387854|~4991552|
||Net movement|in funds,||induded|in the above are as follows:||||
||||||Incoming|Resources|Gains and|Movement|
||||||resources|expended
2|losses
f|in funds
E|
||Unrestricted|funds|||||||
||General unrestricted||fund||358,534|(416,533)|445,853|387,854|
||TOTAL FUNDS||||358,534|~416533)|445,$53|387,854|
##
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##
|Compar|ative|s
for m|oveme|nt
in fun|ds|||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||Net||
|||||||||movement|At|
||||||||At 6.4.21
f|in funds
6|5.4.22
f|
|Unrestricted||funds||||||||
|General|unrestricted||fund||||4,475,420|128,278|4,603,698|
|TOTALFUNDS|||||||~4475 420|128,278|4,603,698|
|Comparative||net movement||in funds,|included|in the above are as follows:||||
|||||||Incoming|Resources|Gains and|Movement|
|||||||resources|expended|losses|in funds|
|||||||5||5|5|
|Unrestricted||funds||||||||
|General|unrestricted||fund|||396,098|(390,357)|122,537|128,278|
|TOTAL|FUNDS|||||396,098|(390,335577)|122,537|128,278|
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|Total future
minimum
lease income which are receivable
under
investment
properties,
are as follows:|non-cancellable
operating
leases,|in respect o|
|---|---|---|
||2023|2022|
||2|2|
|Not later than one year|164,536|172,953|
|Later than one and not later than five years
Later than five years|486,089
~650000|530,625
770,000|
||~1300,825|1,473,576|
##
|||||forth|e Year Ended 5th April 20|23||
|---|---|---|---|---|---|---|---|
|||||||2023f|2022|
|INCOME AND ENDOWMENTS||||||||
|Donations
and legacies||||||||
|Donation from Countess|Besuchamp|||Charitable|Trust|85,000|155,000|
|Income from Investments||||||||
|Rents receivable||||||178,536|149,871|
|Income from listed investments||||||04,928|91,217|
|Bank interest||||||70|10|
|||||||273,534|241,098|
|Total incoming resources||||||358,534|396,098|
|EXPENDITURE||||||||
|Invesbnent
management|costs|||||||
|Listed investment
management|||fees|||13,942|7,365|
|Property management
costs||||||9,145|6,926|
|Property
repairs||||||7,40$|13,969|
|Property rates and water||||||812|231|
|Property
utilities|||||||(266)|
|Properly
insurance||||||806|1,181|
|Legal and professional
fees||||||1,500|6,885|
|||||||33,809|36,291|
|Charitable
activities||||||||
|Forum and conference costs||||||3,1$9|2,264|
|Grants approved
in year||||||307,110|278,822|
|||||||310,249|281,086|
|Supportcosts||||||||
|Wages||||||54,631|53,257|
|Social security||||||293|909|
|Pensions||||||147|139|
|Small grants management||fees||||4,500|4,500|
|Event attendance
costs||||||$,382|493|
|Office costs||||||3,401|2,616|
|Travel and subsistence||||||8,242|4,740|
|Suiiiliy costs||||||992|630|
|Auditors'
remuneration|- audit||fees|||4,170|4,710|
|Auditors'
remuneration|- other||services|||36|36|
|Professional
fees|||||||750|
|Adjustment
to input VAT in||regard to||prior year|expenditure|(5,365)||
|Depreciation||||||246||
|||||||72,675|72,960|
|Totalresources
expended||||||416,5$3|390,357|
|Net (expenditure)/income||||||~57900)|5,741|