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THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND
TRUSTEES’ REPORT
FINANCIAL STATEMENTS
FOR THE YEAR ENDING 30 JUNE 2025
www ferrierawards.org.uk
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KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025
The trustees of the Kathleen Ferrier Memorial Scholarship Fund (the “Fund”) present their Annual Report and the Financial Statements of the charity for the year ended 30 June 2025.
LEGAL AND ADMINISTRATIVE DETAILS
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Trustees:|Sir Thomas|Allen CBE|
|Dr|Linda|Hirst|
|Ben|Johnson|
|Yvonne|Kenny AM|
||Julie|Nicholls|ACA|
|Tan|Page|
|Nicholas|Riddle|Interim|Chair|
|Joan Rodgers|CBE|
|David|Syrus|
|Sir John|Tusa|
|Martin|Williams|FSA|
|indicates|a member|of the|Administration|committee|
|General|Manager:|4|Janet|Marshall|
|Accountants|and|Independent|Examiners:|
|David|Smith &|Co.|Accountants|
|7|Grosvenor|Gardens,|London|SWIW OAF|
|Bankers:|CAF Bank|Limited, ME19 4JQ|
|CCLA Fund|Managers|Limited,|London EC4R 3AB|
|Investment Managers:|Rathbones|Investment Management,|London EC2V 7QN|
|Social|Media|Manager:|Nicola|Corbishley,|ferriersocialmedia@gmail.com|
|Registered|charity|number:|1028426|
|Address:|PO Box|350, Leeds LS16 OHH|
|Telephone:|07751|069|551|
|E-mail:|info@ferrierawards.org.uk|
|Website:|www.ferrierawards.org.uk|
|The|above|information|is|correct|as|at|3|November 2025|
|CHAIR OF TRUSTEES|
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Valerie Beale retired both as a trustee and as chair of the trustee body in 2022. Following her retirement, Nicholas Riddle agreed to serve as interim Chair until a permanent successor from outside the trustee body can be found.
CONSTITUTION AND GOVERNANCE
The Kathleen Ferrier Memorial Scholarship Fund (the “Fund”) is a registered charity constituted by a Trust Deed dated 31 December 1955. It was set up in memory of Kathleen Ferrier, the world-famous contralto, who died in 1953 at the peak of her career. The terms of the initial Deed were amended by Schemes made by the Charity Commission in 1965, 1984 and 2001. The 1955 Deed named the first trustees; and the 1984 Scheme made provision for the appointment of new trustees. Subsequent trustees have been appointed in accordance with the 1984 Scheme.
The names of the trustees who served during the year are set out in the preceding section entitled “Legal & Administrative Details”. During the year, no trustee was paid a fee for acting as a trustee.
The trustees have set up an Administration committee to facilitate the management of the charity between meetings of the full trustee body. Currently the members are Ben Johnson, Julie Nicholls, Nicholas Riddle (Chair), Sir John Tusa and Martin Williams. The General Manager attends meetings of the committee as required.
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KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025
The trustees delegate the day-to-day management of the Fund to a remunerated part-time General Manager under the guidance of the Chair and the Administration committee.
During the year, the trustees met formally once and in person. The Administration committee meet several times (either in person or by Zoom), principally to progress matters such as the appointment of an investment manager; the charity’s social media presence, the Ferrier Society, data protection and other administrative and governance matters.
GENERAL MANAGER
The Fund’s Administrator is Janet Marshall who has had to deal with many and various tasks during the year. The trustees record their thanks to her and to Nicholas Riddle for the thought, determination and hard work they have put in during the period.
OBJECTS AND POLICY
The object ofthe Fund is “[to make] grants (to be called Kathleen Ferrier Memorial Scholarships or Kathleen Ferrier Awards) for or towards the musical education in any manner ... of students of singing of whatever nationality or origin who are resident (whether temporarily or permanently) in the United Kingdom or Eire for their musical education and who satisfy such conditions including age as the Trustees may ... decide.”
The Charity Commission has granted the trustees the flexibility to make further changes in the rules of the competition as required in order to reflect future changes in the profession and the way in which competitions are run, as well as to rectify any anomalies which may arise under the charity’s constitution.
The trustees’ current policy is to make awards (named Kathleen Ferrier Awards) to singers of any nationality who have completed at least one year ofa continuing recognized course in music at ahigher education, specialist institution or school or have undertaken equivalent private study in the United Kingdom or Eire, or to singers who are resident in the United Kingdom or Eire having completed such a course. The Awards are decided by open competition, and all entrants must be under the age of 29 on the final day of the competition.
ACTIVITIES
2025 Competition
The 70th Kathleen Ferrier Awards Competition was held in April 2025. There were 99 eligible applicants; 97 singers participated in the preliminary auditions and 12 were chosen to go through to the semi-final: five sopranos, two mezzo-sopranos, one counter tenor, two tenors and two baritones. The six finalists comprised one soprano, two mezzo-sopranos, one counter tenor, one tenor and one baritone.
The jury was chaired by Patricia Rozario who was joined by bass baritone Jonathan Lemalu, mezzo-soprano Ann Murray, soprano Joan Rodgers and the collaborative pianist Roger Vignoles.
The Semi-finals took place on 23 April, and the Finals on 25 April, both at the Wigmore Hall. The prize monies again totalled £23,500. The first prize (£12,500) was won by mezzo-soprano Lily Mo Browne, who went on to join the National Opera Studio.
Second prize of £6,000 was awarded to tenor Philippe Durrant and the Ferrier Loveday Song Prize of £5,000 was won by mezzo-soprano Elien Pearson, a Jette Parker artist.
The Accompanists’ Prize of £5,000 - funded by the charity Help Musicians, in memory of Arthur and Gwyneth Harrison - was awarded to Francesca Lauri.
Winners’ Support Scheme
Following a period during which the income ofthe Fund was adversely affected by the pandemic, the trustees suspended the Winners’ Recital series. An anonymous donation of £500 was received in 2024 to assist with the costs of reinstating the series. A recital by 2024 winner, Matthew Mckinney, hosted by Cambridge Summer Music, took place in July 2025 at St Botolph’s Church, Cambridge. Talks are ongoing with Leeds Lieder and the Ryedale Festival for recital dates in 2026.
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KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025
Coaching
No coaching sessions took place during the period.
Social media
A social media campaign in 2023 demonstrated the importance ofthis publicity route and, during the year, the trustees appointed Nicola Corbishley, an individual with music industry-specific expertise, to manage it. Nicola - a professional singer, singing teacher and social media manager - has been engaged on a freelance basis to manage the charity’s social media output. With the assistance of the General Manager and the Chair of Trustees, she has drawn up a social media plan which has been adopted by the trustees.
FINANCE
The Financial Statements ofthe charity are drawn up in accordance with the provisions ofthe Charities Act 2011 and the current charity accounting standard (SORP FRS102). The Statement of Financial Activities, or “SOFA”, reflects both realised and unrealised gains and losses on the Fund’s investments, and the Balance Sheet includes those investments at market value at the year-end, not at cost.
The Fund’s main sources of income are (a) the income arising from its investment portfolio; (b) entry fees; (c) receipts from the sale of tickets and programmes; (d) donations, sponsorship and fund-raising; and (e) royalties and performing right payments arising from recordings of Kathleen Ferrier.
Financial review
During the year ended 30 June 2025, the Incoming Resources from all sources amounted to £73,773 compared with £71,976 in the preceding year. Receipts from the competition entry fees increased by £3,431 to £22,422 reflecting a modest increase in the entry fee and a slightly higher number of entrants.
Resources expended totalled £84,079 compared with £81,763 in 2024, The outcome was net Outgoing Resources (or a deficit) on the ordinary activities of the Fund amounting to £10,306 (2024: £9,787 Outgoing). The deficits are in line with the trustees’ decision to continue running whilst exploring other sources of income.
At the year-end, there were unrealized gains of£20,443 (2024: Unrealised gains £63,933) in the investment portfolio. During the period an investment was sold at a small realised Joss of £1,170 (2024: £3,143 Realised gain).
The net out-turn was a rise in the resources available to the trustees at the year-end of £8,967 (2024: Rise £57,289) to £1,191,886. This continued the return to positive figures in 2023-24 after a number ofyears when the charity’s capital base was eroded due to the deficits incurred as a result ofthe pandemic.
Investments and reserves
The Fund's constitution provides for the creation of an endowment fund, the income from which is to be applied in perpetuity to the making of awards. To this fund has been added unspent income as and when it has arisen, with annual deficits being debited to the fund.
At the year-end, the fund amounted to £1.19M (30 June 2024: £1.18M), and is invested in cash and four specialist investment vehicles designed specifically for charities. These vehicles are managed by CCLA Investment Managers; M&G Investments and The Prime Team.
During the year, the trustees soid the charity’s holding in the M & G Charibond Charities Fixed Interest Common Investment Fund following M&G’s decision to wind up that fund.
In 2023-24, the trustees agreed to appoint a professional investment manager to look after the charity’s portfolio, doing so by means of a “beauty parade” from a small list of firms judged to be experienced in the management of the investment portfolios of medium-sized charities, At the conclusion of the process, in 2025 the trustees agreed to appoint Rathbones Investment Management, one of the top three UK wealth managers with assets under management totalling approximately £109B. The trustees are indebted to Mr John Collis for his help with this selection process.
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KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND TRUSTEES’ REPORT FOR THE YEAR ENDED 30 JUNE 2025
LEGACIES AND FUND-RAISING
There have been significant increases in the net costs ofthe competition in the period since the end of the pandemic, the result of - among other things - changes in policy at Wigmore Hall. This has precipitated the Fund into a structural deficit even after reducing some activities that were previously undertaken for the winners. This is doubly unfortunate, because the environment for young singers and other musicians in the UK has become significantly more difficult in the past few years.
The trustees must address both of these factors if they are to continue to fulfil Fund’s charitable purpose. Whilst reducing costs further would offer a temporary solution, it would ultimately mean a diminution in reputation and activity that would eat away at the Fund’s ability to maintain standards. The better solution is to raise the funds necessary to generate the income the charity needs to support its activities in the new circumstances. Currently the Trustees are considering how best to do this and this has included a conversation with two professional fund-raisers.
POLICIES
Thanks to the work of the Administration committee, the trustees have been able to adopt a number of policies including Data Protection, Investment & Reserves, Conflict ofInterest and others which, taken together, significantly enhance the Fund’s governance and bring it into line with best modem practice.
PUBLIC BENEFIT
The Charities Act 2006 places a duty on charity trustees to ensure that a charity continues to meet a public benefit requirement throughout its life, and the trustees have taken note of the Charity Commission’s guidance on public benefit (leaflet PB03).
The charity fulfils its public benefit requirement by pursuing its charitable objectives (as set out in the section entitled “Objects & Policy”). The trustees believe that the activities of the charity (the annual Awards and the associated public competition; the Winners’ Support and the Coaching schemes) demonstrate public benefit by:
-
(a) the promotion ofthe art and practice, and the public performance, of art and science ofmusic;
-
(b) by advancing the education of musicians; and
-
(c) by improving the knowledge and appreciation of the art and science of music and particularly singing.
FUTURE PLANS
The trustees intend to continue making Kathleen Ferrier Awards to young singers by open competition, and in this connection will be launching the 2026 competition shortly.
The trustees will be considering the cost effectiveness of the way it manages the competition. They will also be considering whether changes in the environment for musicians based in the United Kingdom require alterations to the activities of the Fund in order to fulfil its charitable purposes.
As described above, the trustees are in discussions with a professional fund-raiser to explore the possibility of launching a fund-raising campaign centred around the 70th anniversaries of Kathleen’s death and the Fund’s foundation.
The current Chair took on the role as an interim appointment. The trustees will be considering the recruitment of the next Chair, while noting that the Trust Deed in any case requires the reappointment of any Chair by the trustee body each year.
Approved by the trustees on 12 November 2025, and signed on their behalf by
Nae, Ascot Nicholas Riddle Chair of trustees
5
THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND
ACCOUNTS
30th June 2025
Page 1.
| Page 1. | ||||||
|---|---|---|---|---|---|---|
| THEKATHLEENFERRIERMEMORIAL | SCHOLARSHIPFUND | |||||
| INCOMEANDEXPENDITURE ACCOUNT | -UNRESTRICTEDFUND | |||||
| FORTHEYEARENDED: | 30THJUNE2025 | 2024 | ||||
| Notes | £ | £ | £ | £ | ||
| IncomingResources | ||||||
| CompetitionIncome | ||||||
| EntranceFees | 5,940 | 4,740 | ||||
| Sales ofticketsandprogrammes | 16,482 | {4,251 | ||||
| Advertising inprogramme | - | 22,422 | - | 18,991 | ||
| Legacies and Donations | 83 | 874 | ||||
| Investment income | 44,744 | 45,196 | ||||
| Taxrepaymentunder GiftAid | - | - | ||||
| Depositinterest | 3,369 | 2,995 | ||||
| Royalties | 250 | 255 | ||||
| Total IncomingResources | 70,868 | 68,311 | ||||
| ResourcesExpended | ||||||
| Charitable Expenditure | ||||||
| Prizes and Competition costs | 4a | 54,407 | 53,771 | |||
| Recitals andMaster Classes | 4b | - | - | |||
| ManagementandAdministration | 4c | 28,283 | 27,083 | |||
| Governance Costs | 4d | 1,389 | 909 | |||
| Total Expenditure | 84,079 | 81,763 | ||||
| (13,211) | (13,452) | |||||
| (Losses)/Gains onrevaluationofinvestments | ||||||
| Unrealised | 26,348 | 51,020 | ||||
| Realised | (1,170) | - | ||||
| 25,178 | 51,020 | |||||
| NetIncomingResources | 11,967 | 37,568 | ||||
| Income transfers from Restricted Fund | 4e | |||||
| SponsorshipofSongPrize | 5,000 | 5,000 | ||||
| Reallocation ofIncome andExpenses | 2,172 | - | ||||
| NetMovement inFunds | 19,139 | 42,568 | ||||
| FundBalanceBroughtForward, 1stJuly2024 | 961,481 | 918,913 | ||||
| Fund Balance Carried Forward, 30th June2025 | 980,620 | 961,481 | ||||
| FERRIERLOVEDAYSONGPRIZE FUND -RESTRICTEDFUND | ||||||
| Income | Capital | Income | Capital | |||
| £ | £ | £ | £ | |||
| InvestmentIncome | 2,905 | 3,665 | ||||
| SongPrizes | 4e | (5,000) | (5,000) | |||
| ReallocationofIncomeand Expenses | Ae | (2,172) | ||||
| (4,267) | (1,335) | |||||
| Transferfromcapital | 4,267 | (4,267) | 1,335 | (1,335) | ||
| Gains on revaluationofinvestments | ||||||
| Realised | - | 3,143 | ||||
| Unrealized | (5,905) | (5,905) | 12,913 | 16,056 | ||
| Netmovement in funds | (10,172) | 14,721 | ||||
| Balance, brought forward | 221,438 | 206,717 | ||||
| Balance,carriedforward | 211,266 | 221,438 |
Page 2.
THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH JUNE 2025
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|
|Fund|Fund|Total|2024|
|£|£|£|£|
|INCOMING RESOURCES|
|Legacies|and Donations|83|-|83|874|
|Income from Investments|48,113|2,905|51,018|51,856|
|Charitable|Activities|-|Competition Income|'|22,422|-|22,422|18,991|
|Other|250|-|250|255|
|Total|Income and Endowments|70,868|2,905|73,773|71,976|
|RESOURCES|EXPENDED|
|Charitable Activities|82,690|-|82,690|80,854|
|Governance|Costs|1,389|-|1,389|909|
|Total Resources Expended|84,079|-|84,079|81,763|
|Net (Outgoing)/Incoming Resources|(13,211)|2,905|(10,306)|(9,787)|
|OTHER RECOGNISED|GAINS/LOSSES|,|
|(Losses)|/ Gain on Investment|Assets|- realised|(1,170)|-|(1,170)|3,143|
|Gains/(Losses)|on Investment Assets|- unrealised|26,348|(5,905)|20,443|63,933|
|Net Gains/(Losses) on Investment Assets|25,178|(5,905)|19,273|67,076|
|Net Incoming (Outgoing) Resources after gains/(losses)|11,967|(3,000)|8,967|57,289|
|on|investments|
|GROSS TRANSFERS BETWEEN FUNDS|7,172|(7,172)|-|-|
|Net movement|in Funds|19,139|(10,172)|8,967|57,289|
|TOTAL FUNDS BROUGHT FORWARD|961,481|221,438|1,182,919|1,125,630|
|TOTAL FUNDS CARRIED FORWARD|£|980,620|£211,266|£|1,191,886|£1,182,919|
----- End of picture text -----
Page 3.
THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND
| BALANCE SHEET: | 30THJUNE | 30THJUNE | 2025 | 2024 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |||||
| Fixed Assets | |||||||||
| Investments | 2 | 901,349 | 1,007,694 | ||||||
| Current Assets | 3 | ||||||||
| Debtors | 33 | 15,545 | |||||||
| Sale ofInvestment | 125,618 | - | |||||||
| COIF Charities DepositFund | 120,808 | 149,821 | |||||||
| BankCurrentAccount | 44,918 | 14,189 | |||||||
| 291,377 | 179,555 | ||||||||
| CurrentLiabilities | |||||||||
| Creditors: Amounts fallingdue | |||||||||
| withinoneyear | 840 | 4,330 | |||||||
| Net Current Assets | 290,537 | 175,225 | |||||||
| Total Assets less CurrentLiabilities | £ | 1,191,886 | 1,182,919 | ||||||
| Funds oftheCharity | |||||||||
| RestrictedFund | |||||||||
| FerrierLoveday SongPrizeFund | 211,266 | 221,438 | |||||||
| Unrestricted AccumulatedFund | 980,620 | 961,481 | |||||||
| £ | 1,191,886 | 1,182,919 | |||||||
| ) | |||||||||
| NICHOLAS RIDDLE | J | ||||||||
| ) | |||||||||
| , Wf | . | } ) |
Accounts approved Trusteeson |
Accounts approvedbya7 on |
LWA | 2025 | |||
| MARTINWILLIAMS | ,) | ||||||||
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Page 4,
THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND
NOTES TO THE ACCOUNTS - 30TH JUNE 2025
1. Accounting Policies
a) Basis of Accounting
These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The Charity is a Public Benefit Entity as defined by FRS 102,
The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention, modified to include the revaluation of investments at market value. The principal accounting policies adopted are set out below.
b) Going Concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the accounts.
c) Charitable Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
The Trustees have decided that the Restricted Fund, which supports the Ferrier Loveday Song Prizes, from ist July 2024 should share the Bank Interest received, the Competition Income and the Competition and Administrative Expenses appropriate to the Song Prize.
d) Incoming Resources and Expenditure
Donations, legacies, tax repayments and royalties are brought into the accounts when they are received or can be accurately forecast in amount and timing,
Investment income and deposit interest are included in the accounts on the due date. Other income and all expenditure is included in the accounts on the accruals basis.
e) Cash and Cash Equivalents
Balances are held at call with banks, or at a period of notice of not more than 60 days.
f) Payments to Trustees
The Trustees give their time and energy on a voluntary basis, and no Trustees' fees were paid during the year (2024 - £NIL). Specific expenses were reimbursed to trustees in the year ended 30th June 2025, amounting to £213 (2024 - £69).
Page 5.
THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND NOTES TO THE ACCOUNTS - 30TH JUNE 2025 (Continued
2. Tangible Fixed Assets
Investments
The investments are held and administered on behalf of the Trustees by professional investment managers, and are valued at Market Value in the accounts.
All investments represent more than 5% oftotal funds and are:-
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||||||||
|---|---|---|---|---|---|---|
|30th|June|2025|2024|
|£|£|
|Restricted|Fund|
|COIF|Global|Equity|Income|Fund|115,266|121,171|
|Unrestricted|Accumulated Fund|
|M & G Equities|Investment|
|Fund|for Charities|(Charifund)|$33,126|513,546|
|M & G Charibond|Charities|
|Fixed|Interest Common Investment Fund|-|126,788|
|Sold|24th|June 2025|
|COIF|Charities|Property Fund|87,620|86,698|
|SUTL|Cazenove|Charity Fund|165,337|159,491|
|£|901,349|1,007,694|
|Movements|in Investments|can be summarised.|;|
|as|follows:-|
|Market Value|30th|June 2024|1,007,694|990,618|
|Additional|Investment|-|-|
|Disposal|proceeds|(125,618)|(50,000)|
|882,076|940,618|
|Realised|(Losses)/|Gains|(1,170)|3,143|
|Unrealised|Gains|/CLosses)|20,443|63,933|
|Market value|30th June|2025|£|901,349|1,007,694|
|3.|Current|Assets|and|Liabilities|
|Cash|at|Bank|
|Charities Deposit Accounts|
|Restricted Fund|96,000|100,267|
|Unrestricted Accumulated Fund|24,808|49,554|
|£|120,808|149,821|
|CAF Bank|Current Account|
|Unrestricted Accumulated Fund|£|44,918|£|14,189|
----- End of picture text -----
ig
4
Page 6.
THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND
NOTES TO THE ACCOUNTS - 30TH JUNE 2025 (Continued)
| 30th June2025 | 30th June2025 | 2024 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Charitable Expenditure | |||||
| a) | Competition | ||||
| Kathieen FerrierAwards | |||||
| FirstPrize | 12,500 | 12,500 | |||
| SecondPrize | 6,000 | 6,000 | |||
| SongPrize | 5,000 | 5,000 | |||
| 23,500 | 23,500 | ||||
| Direct costs ofcompetition | |||||
| Adjudicators' feesand expenses | 1,618 | 3,745 | |||
| Hire ofhalls | 9,510 | 9,265 | |||
| Box Office commission | 4,612 | 4,265 | |||
| Stewards | 1,680 | 1,400 | |||
| Receptions | 3,400 | 2,828 | |||
| Marketing andPR | - | - | |||
| Advertising | 780 | - | |||
| Design, artworkand printing | 5,019 | 3,930 | |||
| Competitionaudio and photography | 1,160 | 1,070 | |||
| Other administrationand | |||||
| general expenses | 3,128 | 3,768 | |||
| . | |||||
| 30,907 | 30,271 | ||||
| Prizesand Competition Costs | £ | 54,407 | 53,771 | ||
| b) | Recital andMasterclass Expenses | ||||
| Performers | - | - | |||
| Recital Programme Fees | ~ | - | |||
| £ | - | a | |||
| c) | ManagementandAdministration | ||||
| Administration Charges | 21,500 | 21,000 | |||
| Generaland office expenses | 2,643 | 2,783 | |||
| SocialMediaexpenses | 4,140 | 3,300 | |||
| £ | 28,283 | 27,083 | |||
| d) | Governance ofthe charity | ||||
| TrustAdministrationExpenses | 549 | 69 | |||
| Accountancy andIndependentExamination | 840 | 840 | |||
| £ | 1,389 | 909 |
4. Charitable Expenditure
Page 7.
THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND
NOTES TO THE ACCOUNTS - 30TH JUNE 2025 (Continued)
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||||||||
|---|---|---|---|---|---|---|
|30th June 2025|2024|
|£|£|£|£|
|Charitable|Expenditure|(continued)|
|e)|Transfers between Unrestricted|and Restricted Funds|
|Expenses and|Income|relating to the Ferrier Loveday|Song Prizes|
|Share of Competition Income|(4,771)|-|
|Share of|the|Competition and|Administrative Expenses|11,390|-|
|Share|ofBank|interest received|
|Four years to|30th June|2024|(2,034)|-|
|Year ended 30th|June|2025|(2,413)|-|
|(4,447)|-|
|Annual|Song Prize|5,000|5,000|
|Transfer to|Unrestricted|Funds|£|7,172|£|5,000|
----- End of picture text -----
4, Charitable Expenditure (continued)
.
a
t
Page 8.
THE KATHLEEN FERRIER MEMORIAL SCHOLARSHIP FUND
Independent Examiner's Report to the Trustees of The Kathleen Ferrier Memorial Scholarship Fund
I report on the accounts of the Fund for the year ended 30th June 2025, which are set out on pages | to 7.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
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 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions 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 statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that, in any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
~ to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
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.
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DavidDavidAccountants CSmith Smith & Cofor y,eveel C ab onthy.
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7 Grosvenor Gardens
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Date Wi iABs Wee « 2025
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Victoria
London SWIW OAF