LUCILLE GRAHAM TRUST LIMITED Company Number 2757857 Registered Charlty Number 1017034 ANNUAL REPORTS AND UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 ocfoBER 2024 LUCILLE GRAHAM TRUST LIMITED Cornpany Number 2757857 RÈeiSterÈd Charity Numbpr 1017034 nu31 Reportand FinancialSt3tÈmentfortheyear ehded 31 October2024 Annual Report of the Trustees/Directors of Lucille Graham Trust Limited for the year ended 31 October 2024 The Trustees present their report along with the financial statements of the charity for the year ending 31 October 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note I to those statements and comply with current statutory requirements and the Statement of Recommended Practice: Accounting and Reporting by Charitie5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and Update Bulletin I leffecti¥e l January 20161. Constitution Lucille Graham Trust Limited is a company limited by guarantee and has no shareholders. It is registered in England and Wale5, company number 2757857. The governing document of the Trust 15 Its Memorandum and Articles of Association. The Trust is also a registered charity number 1017034. Trustees (Directors) The Trustees who served during the year were as follows: Thomas Hyde- Chair Christian Flackett - Vice Chair Bridget Palmer- Secretary Philip Davies - Treasurer Esther Cavett Alison Porter Rebecca Redclift Allison Rosser Rosalind Ventris Registered office 93 Aldwick Road. Bognor Regis, West Sussex P0212NW Bankers COIF Charities Deposit Fund, Senator House, 85 Queen Victoria Street, London EC4V 4Et Triodos Bank NV, Deanery Road. Bristol BSI SAS Investment Managers Cazenove Capital, l London W311 Place, London EC2Y SAU Independent Examiner Matthews Hanton Limited, Chartered Certified Accountants 93, Aldwick Road, Bognor Regis, West Sussex P0212NW LUCILLE GRAIIAM TRUST LIMITED Company téumber 27S7857 Registered Charlty Number 1017034 Annual Report and Financial StatsmEntfortheyear Ended 310(fober2024 Appointment and induction of new trustees New trustees must be elected individually at board meetings. Upon their recruitment, new trustees are advised of their responsibilities in that capacity and are instructed to V15it the Charity Com mission website and read the guidance publications available. Organisation and risk management The Board of Trustee5 meets three to four time5 a year and make5 deci5ion5 by a majority of votes. In the case of an equality of votes, the Chair has the casting vote. The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Objectives and Activities The objects of the Charity a5 set out in its Memorandum of Association, are to promote, maintain and advance education, particularly musical education and to encourage the art5 of music, drama, mime, dancing and singing. When planning activities for the year, the Trustees, have considered the Commission's guidance on public benefit, as published within 51715) of the Charities Act 2011. Detai15 of the way these objects have been achieved during the year are set out in the review of the year contained in this report 3nd the attached financial statements. The Trust achieves these objects by allocating grants to organisations undertaking relevant project5. Charitable donations made during the year totalled £48,070 (2022.. £48,430). Grants were made to fourteen organisations undertaking a variety of projects, all in accordance with the objectives of the Trust. A complete list of grants made during the year can be found in Note 5 of the accounts. Investment Powers Under the Memorandum of Association the trustees have power to make any investments they think fit. Financial Review of the Year The Cazenove investment portfolio recorded unrealised gain5 of £85,317 over the year12023.' unreolised 1055es of £33.1951. There wa5 an increase of 11.2% in the market value of the investment portfolio over the vear, compared to a decrease of 4.2Q/o in the previous year. Investment income and bank interest amounted to £35,959 for the year, compared to £35,971 in 2023. The target income of 4% p.a. on the Cazenove Fund was maintained. LUCILLE GRAHAM TRUST LIMITED Company Number 2757857 Re8k￿red Chariry Nvmber 1017034 ADnval Report and Ftnanc+al Statemenifoi the yearended 31 Oilober2024 Reserves Policy The Trustees are satisfied that the accumulated general fund will produce sufficient income to enable them to continue to carry out the charitable objects of the Trust in the future. Financial Management Policy The nature and value of the investments and cash deposits comprising the Charity's funds are kept under constant review and an up to date detailed report is presented to the Trustees at their triannnual meetings. It is the Trustees, policy to invest in quoted managed funds available only to charities and to hold cash only in accounts designed for charities. A budget showing the anticipated income for the financial year available for charitable expenditure after deduction of administration costs is approved by the Trustees annually. A financial update is presented to the Trustees at each meeting. The Trustee5 have not authorised any fund-raising activities to take place. Future Plans The Trustee5 intend to continue managing the charity as they have done during the period with the intention of meeting the objects and alms mentioned above. These financial statements have been prepared in accordance with the special provisions of s41912) of the Companies Act 2006 relating to small charit3ble companies and with the Financial Reporting Standard for Smaller Entities leffective April 20081. Jun 16, 2025 Thomas Hyde Chair Date LUCILLE GRAHAM TRUST LIMITED Company Number 2757857 Fiegistered Ch8riiy Number 1017034 Annuol Aeport and Financial Siatementfor theyear ended 31 OctcbeT2024 Independent Examiner's Report to the Trustees of Lucille Graham Trust Limited I report on the accounts for the year ended 31 October 2024 as Set out on pages six to twelve. Respective responsibilities of trustees and examiner The ch3rlty'S trustees {who are also directors for the purposes of company lawl are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under s144121 of the Charities Act 2011 and under Part 16 of the Companies Act 20061 and that an independent examination is required (under s14515)Ibl of the Charities Act 2011). Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under Section 145 of the 2011 Act follow the procedures laid down in the General Directions given by the Charity Commission (under section 14515llbJ of the 2011 Act},' and state whether particular matters have come to my attention. Basis of the independent examiner's report My examination was carried out in accordance with the General Direction5 given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view and the report is limited to those matters set out in the statements below. Independent examiner's statement In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in any material respect the requirements i. to keep accounting records in accordance with Sections 386 and 387 of the Companies Act 2006; and ii. to prepare accounts which accord with the accounting records. comply with the accounting requirements of Sections 394, 395 3nd 396 of the Companies Act 2006 and the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Matthews Hanton Limited Chartered Certified Accountants 93 Aldwick Road Bognor Regis West Sussex P0212NW Jun 17, 2025 Date.. LUCILLE GRAHAM TRUST LIMITED Company Number 2757857 Rtylstered Charlty Number 1017034 Annuol Rewrt Fin3nc*l Ststetmntfortheyear ended 31 Ortober Z024 BALANCE SHEEr as at 31 October 2024 2024 2023 Note FIXED ASSETS Investments 866.497 781,280 CURRENT ASs￿s Cash at bank and in hand 16,136 15,123 LIABILITIES Creditors: Amounts falling due within one year 116,6801 115,709} NET CURRENT ASS￿5 1544) 1586} TOTAL ASSEfs LESS 865,953 780,694 CURRENT LIABILITIES TOTAL NEf ASSErs 865,953 780,694 THE FUNDS OF THE CHARITY Unrestricted capital and reserves 865,953 780,694 TOTAL FUNDS 865.953 780.694 LUCILLE GRAHAM TRUST LIMITED Compèny Number 27578S7 Rewsrered Charity Number 1017034 Annual Report and Finan£kl Statemenifor iheyear Ènded 31 Ortober 2024 BALANCE SHEET as at 31 October 2024 The charitable company 15 entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024. The Trustees have not required the charitable company to obtain an audit of its flnancial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006. The Trustees acknowledge their responsibilities for: i. ensuring the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companie5 Act 2006: and ii. preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year in accordance with the requirements Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and wlth the Financial Reporting Standard for Smaller Entities {effective Apri120081. These financial statements were approved by the Board on A 4 M k¥ behalf by: aoicand were signed on its Philip Davies Treasurer ThoA<6 Thorr.h5 Hvd,: (Jlln 16 Thomas Hyde Chair LUCILLE GRAHAM TRUST LIMITED Company Number 2757857 Re8tstEred Chariry NUm￿r 1017034 knnual Rwrtand Financialststementforthe ￿ar ended 31 Octuber 2024 STATEMENT OF FINANCIAL AFFAIRS for the year ended 31 October 2024 Note Unrestricted Funds Total 2024 Total 2023 2024 Income from Investments 35.959 35,959 35,971 Total Income 35,959 35,959 35,971 Expenditure on Charitable activitie5 Governance costs Administration expenses 35,320 697 35,320 697 48,130 827 Total Expenditure 36,017 36,017 48,962 Investment asset gainslllosses} 85,317 85,317 133,195) Net Income/(Expenditure) for the year 85,259 85,259 (46,186} Net movement in funds 85,259 85,259 (46,186) Total funds brought fonvard at start of period 780,694 780,694 826.880 Total funds carried fonvard at end of period 865.953 865.953 780,694 LUCILLE GRAHAM TRUST UMITED Company Number 2757857 Reei5tered ChariryNumber 1017034 Annual Reportand Flnantial Stat&meni for the year ended 31 October 1024 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 October 2024 I. ACCOUNTING POLICIES Accounting convention The financial statements are prepared in accordance with applicable accounting standard5 under historical cost convention with the exception of investments which are included at market value, and in accordance with the Charities Act 1993, and the Statement of Recommended Practice: Accounting and Reporting by Charities in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and Update Bulletin I (effective l January 2016}. Exemptionfrom preparing a cushflow statement.. Exemption has been taken from preparing a cash flow statement on the grounds that the charity qualifies as a small charity. Incoming Resources.. All incoming resources are included in the Statement of Financial Activlties when the charity is legally entitled to the income, the amount can be quantified with reasonable accuracy and it is more likely than not the charity will receive the resources. Resources expended Expenditure is accounted for on an accruals basis and h35 been classified under headings that aggregate all costs related to that category. Where costs Cannot be attributed to 2 particular heading they have been allocated to activities on a basis consistent with the use of resources. Toxation The charity is exempt from taxation on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives of the Trust. Valuation of investments Investments, as noted below, are managed unit funds and are valued by the managing entity at market value. LUCILLE GRAHAM TRUST LIMITED Company Nurnber 2757857 Rrfistered ChailtyNumber 1017034 Annual Report and Financial Stat•mÈntfor the year ended 31 October2024 2. INVESTMENTS 2024 2024 2023 Current Asset Investment Fixed Asset Investment Total Investment Total Investment Cost 750,323 20,000 770.323 770.323 Market value at start of period 761,280 20.000 781,280 814,475 Additions Disposals Unrealised gains/llos5es) during period Market value at end of period iiooi iioo) 85,317 866,497 85.317 846,597 133,195) 781,280 19,900 3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accrual for grants awarded Other creditors 16,000 680 15,000 709 16,680 15,709 4. SHARE CAPITAL The Company is limited by gua rantee and has no share capital. 5. DIREcf CHARITABLE EXPENDITURE 2024 2023 Grants to institutions Website 35,200 120 48,070 60 35,320 48,130 io LUCILLE GRAHAM TRUST LIMITED CornpèTry Number 27S78S7 Registered Charity Nvmber 1017034 knnual Report and FiTh3nclal Stalementfor thèyÈar Ènd&d 31 0¢￿er}024 S. continued All grants were made to fund musical education actNities, including the following: 2024 2023 Little Angel Theatre 1,680 English National Opera Momentum 2,000 2,000 2,000 2,890 3,000 3,000 3,000 3,500 5.000 5,000 5,000 5,000 5,000 Sound Connections Southbank Sinfonia Carice Singer5 London Philharmonic Orchestra Music Master5 Fairbeats Afghanistan and Central Asian Association Grounded Sounds He3rmeout Music London Sinfonietta Otakar Kraus Music Trust Live Music Now 3,000 5,000 3,500 3.000 2,700 1.000 4,000 5,000 5,000 3,000 Citizens of the World Choir Matthew Barley Arts Foundation National Youth Theatre International Guitar Foundation New Future Collective - Hackney Showroom Barbican Centre Trust Music in the Round 35,200 48,070 li LUCILLE GRAHAM TRUST LIMITED Company NutnbÈr 2757857 Re8lsteied Charlty Number 1017034 Annual Report and Financia15tatemenifortheye3rended 31 October 20Z4 6. GOVERNANCE COSTS 2024 2023 Independent examination of accounts Administration and bank charges Meeting costs 680 17 649 179 697 832 7. RELATED PARTY TRANSACTIONS Trustees are not remunerated and no trustee was reimbursed during the year for expenses in relation to their work 05 trustees. 8. UNRESTRicfED FUNDS 2024 2023 Balance brought forward at start of period Incoming resources Resources expended Investment gains Balance carried fonmard at end of period 780,694 35,959 136,017) 85,317 865,953 826,880 35,971 148.962} 133,195) 780,694 9. CONTROLLING PARTY The Company is underthe control of the Board of Trustees. 12