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||Page|
|---|---|
|Annual
Report ofthe Trustees|1-9|
|Independent
Auditor's
Report|10-12|
|Statement
of Financial Activities|13|
|Balance Sheet|14|
|Statement ofCash Flows|15|
|Notes to the Financial Statements|16-25|
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|1.|REFERENCE AND|REFERENCE AND|ADMINISTRATION|ADMINISTRATION|DETAILS||
|---|---|---|---|---|---|---|
||UK Charity|Registration||Number:|1049189||
||Registered|Office:|||Eighth Floor, 6 New Street|Square|
||||||New Fetter Lane, London|EC4A 3AQ|
||Telephone|Number:|||020 78422000||
||Website:||||www. colwinston. org.uk||
||Email Address:||||colwinston. trust@ntlworld.|corn|
||Chairman:||||Mathew Caradoc Thomas|Prichard CBE DL (Founder)|
||Trustees:||||Mathew Caradoc Thomas|Prichard CBE DL (Chairman)|
||||||Martin Patrick Tinney||
||||||Sian Llinos Williams||
||||||Lucinda
Mary Prichard||
||||||Rebecca Anne Evans CBE||
||Consultant|Director:|||Mrs Amanda
McMurray||
||Solicitors:||||Geldards
LLP||
||||||4 Capital Quarter||
||||||Tyndall Street||
||||||Cardiff CF104BZ||
||Auditors:||||Rawlinson
8 Hunter
Audit|LLP|
||||||Eighth Floor, 6 New Street|Square|
||||||London EC4A 3AQ||
||Accountants:||||Rawlinson
&Hunter
LLP||
||||||Eighth Floor, 6 New Street|Square|
||||||London EC4A 3AQ||
||Royalty Agent:||||Adam Spiegel Productions
First Floor, 11Garrick St|Limited|
||||||London WC2E 9AR||
||Bankers:||||Coutts &Co||
||||||440 Strand||
||||||London WC2R OQS||
||Tax District|8 Reference:|||HMRC Charities - ref: XR|58235|
||VAT Registration||Number:||782 650706||
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||||||Unrestricted||Funds|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||Income||Capital|2023|2022|
||||Note||6||F||E|
|Income from:||||||||||
|Royalties|||2||1,124,959|||1,124,959|440,568|
|Interest from bank deposits|||||10,084|||10,084|135|
|Total income|||||1,135,043|||1,135,043|440,703|
|Expenditure
on:||||||||||
|Charitable
activities|||3||587,593|||587,593|201,929|
|Total expenditure|||||587,593|||587,593|201,929|
|Net income before|other|||||||||
|recognised (losses)|||||547,450|||547,450|238,774|
|Fair value movement|of reversionary|||||||||
|interest|||6||||(43,172)|(43,172)|(18,627)|
|Net movement
in funds|||||547,450||(43,172)|504,278|220,147|
|Reconciliation
of Funds:||||||||||
|Total funds brought|forward|at||||||||
|1 April 2022|||||238,774||950,705|1,189,479|969,332|
|Total funds carried|forward|at||E|786,224|5|907,533|k 1,693,757|E 1,189,479|
|31 March 2023||||||||||
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||||||Unrestricted|Unrestricted|Funds|
|---|---|---|---|---|---|---|---|
|||||Note|2023||2022|
||||||E||6|
|Fixed Assets:||||||||
|Reversionary|interest|in 'The Mousetrap"|play|5/6|472,909||516,081|
|Current Assets:||||||||
|Debtors||||7|312,515||207,854|
|Cash at bank||||8|1,623,107||1,008,805|
||||||1,935,622||1,216,659|
|Liabilities:||||||||
|Creditors - amounts||falling due within one|year|9|(493,242)||(211,149)|
|Net Current|Assets||||1,442,380||1,005,510|
|Total Assets|less Current Liabilities||||1,915,289||1,521,591|
|Creditors - amounts||falling due in more than one year||10|(221,532)||(332,112)|
|Total Net Assets|||||f 1,693,757|6 1,189,479||
|The funds ofthe charity:||||||||
|Unrestricted|Capital|Funds|||907,533||950,705|
|Unrestricted|Income|Funds|||786,224||238,774|
|Total charity|funds||||F 1,693,757||61,189.479|
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|||||2023|2022|
|---|---|---|---|---|---|
|Net Cash Flow from Operating|Activities|||||
|Net incoming
resources||||504,278|220,147|
|Less: Investment
income||||(10,084)|(135)|
|Net amortisation
on fixed assets||||43,172|18,627|
|Increase
in debtors||||(104,661)|(206,434)|
|Increase/(decrease)
in creditors||||171,513|(49,170)|
|Net cash generated
from/(used|in) operating||activities|604,218|(16,965)|
|Cash flows from investing
activities||||||
|Investment
income||||10,084|135|
|Net cash generated
from investing||activities||10,084|135|
|Net increase/(decrease
) in cash for the year||||F614,302|K (16,830)|
|Reconciliation
of net cash flow|to movement||in net funds|||
|Net cash resources at 1 April|2022|||1,008,805|1,025,635|
|Increase/(decrease)
in cash||||614,302|(16,830)|
|Net cash resources at 31 March 2023||||f 1,623,107|6 1,008,805|
|Analysis
of net funds:||||||
|Cash at Bank||||1,623,107|1,008,805|
|||||F 1,623,107|8 1,008,805|
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|FOR THE|FOR THE|YEAR ENDED 31|YEAR ENDED 31|YEAR ENDED 31|MARCH 2023|||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|CHARITABLE ACTIVITIES||||||F|F|
|Grants made to charitable|organisations:|||||||
|Artes Mundi
Prize Ltd||||||100,000||
|Agatha Christie Trust for Children||||||50,000||
|Opera Rara||||||45,000||
|National
Dance Co Wales||||||40,000||
|Mid Wales Opera||||||30,000||
|Sinfonia Cymru||||||25,000||
|Aesop Arts &Society Limited||||||15,000||
|Artichoke
Trust||||||15,000||
|North Wales International
Music Festival||||||15,000||
|The Aloud Charity||||||15,000||
|Presteigne
Festival of Music|and Art Limited|||||15,000||
|Opera Ventures||||||12,500||
|Mostyn Gallery||||||12,000||
|Canolfan
Gerdd William
Mathias (Wales|||Intern|ational|Harp Festival)|10,475||
|National
Opera Studio||||||10,000|10,000|
|Fishguard
and West Wales International|||Musi|c Festival||10,000||
|National
Manuscripts
Conservation||Trust||||10,000||
|National
Youth Orchestra
of|Great|Britain||||10,000||
|Peak Cymru||||||10,000||
|Agatha Christie Festival||||||7,500||
|Brecon Beacons Music Trust||||||7,500||
|Cowbridge
Music Festival||||||7,500||
|Llandeilo
Fawr Festival of Music||||||7,500||
|Sisterna
Cymru - Codi'r To||||||6,000||
|Longborough
Festival Opera||||||5,000|4,500|
|Penarth
Chamber
Music Festival||||||5,000||
|The National
Botanic Garden|ofWales|||||5,000||
|Theatr Brycheiniog
Cyf||||||5,000||
|Young Music Makers of Dyfed||||||5,000||
|Cosmic Music||||||5,000||
|Three Choirs Festival||||||4,000||
|Llandaff Cathedral
Festival 2022||||||3,000||
|Royal Philharmonic
Society||||||3,000||
|Go Live Theatre Projects (formerly||Mousetrap||Theatre|Projects)||40,000|
|Valleys Kids|||||||30,000|
|Buxton International
Festival|||||||18,600|
|Benedetti
Foundation|||||||10,000|
|Hijinx Theatre|||||||10,000|
|MusicFest Aberystwyth|||||||10,000|
|Theatr na nOg|||||||10,000|
|Afan Arts|||||||7,000|
|UPROAR|||||||6,000|
|Art UK (Public Catalogue
Foundation)|||||||5,000|
|Carmathen
& District Youth Opera|||||||5,000|
|Changing
Tunes|||||||5,000|
|Vale ofGlamorgan
Festival|||||||5,000|
|Balance carried forward||||||525,975|176,100|
##
||NOTES TO THE FINANCIAL STATEMENTS|NOTES TO THE FINANCIAL STATEMENTS|NOTES TO THE FINANCIAL STATEMENTS|||||
|---|---|---|---|---|---|---|---|
||FOR THE YEAR ENDED 31 MARCH 2023|||||||
||||||2023||2022|
|3.|CHARITABLE ACTIVITIES|(continued)|||E||F|
||Grants made to charitable|organisations:||||||
||(balance brought
forward)||||525,975||176,100|
||Aberystwyth
University||||||4,800|
||Bangor New Music Festival||||||4,000|
||NMC Recordings||||||4,000|
||Grants made to charitable|organisations|||525,975||188,900|
||Finance income arising on new long term grant commitments||||(10,968)||(27,888)|
||Finance income written
back on long term commitments||||27,888||12,742|
||Sub-total||||542,895||173,754|
||Support costs (note 4)||||44,698||28,175|
||Total charitable
activities||||587,593|F|201,929|
|4.|SUPPORT COSTS||||2023||2022f|
||Consultant
director's
remuneration
and||expenses||20,600||15,600|
||Accountancy
and related
administration||fees||11,988||10,290|
||Auditor fees (governance
cost)||||12,000|||
||Bank charges||||397||515|
||Sundry expenses||||200|||
||Reclaimed
VAT on accountancy fees||||(487)||(330)|
||Independent
examiner fees|(governance|cost)||||2,100|
|||||F|44,698|f|28,175|
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|projected future|cashflows
|f|rom the remainder
ofthe royalty agreem|ent
in place.|||
|---|---|---|---|---|---|---|
|||||2023||2022|
|DEBTORS|||||||
|Adam Spiegel|Productions|Limited —tour royalties due||195,509|||
|Adam Spiegel|Productions|Limited —London royalties due||109,416||179,396|
|Agatha
Christie|Ltd - Curtain||royalties due|4,690||28,458|
|Interest receivable —money|||market account|2,900|||
|||||312,515|8|207,854|
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|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|CASH AT BANK||||||8||8|
|Cash with Coutts 8 Co - on|current account|||||259,814||284,552|
|-on|reserve account|||||104,058||602,655|
|-on|money market||account|||500,000|||
|||||||863,872||887,207|
|Cash on client monies account with Rawlinson||||8 Hunter|LLP|759,235||121,598|
|||||||8 1,623,107|8|1,008,805|
|||||||2023||2022|
|CREDITORS - Amounts
falling due within one year||||||8||F.|
|Charitable
commitments
to:|||||||||
|Welsh National
Opera
Limited||||||180,000||65,000|
|Artes Mundi Prize Ltd||||||50,000|||
|Agatha
Christie Trust for|Children|||||25,000|||
|Opera Rara||||||15,000|||
|Sinfonia
Cymru||||||12,500||12,500|
|Peak||||||10,000|||
|Presteigne
Festival of Music and Art Limited||||||10,000|||
|Mid Wales Opera||||||10,000|||
|Cosmic Music||||||5,000|||
|Longborough
Festival Opera||||||5,000|||
|Royal Philharmonic
Society||||||3,000|||
|Go Live Theatre Projects|(formerly|Mousetra||p Theatre|Projects)|||20,000|
|Hijinx Theatre||||||||10,000|
|Musicfest Aberystwyth||||||||10,000|
|Valleys Kids||||||||10,000|
|Buxton International
Festival||||||||8,600|
|Royal Welsh College of Music 8 Drama||||||||5,866|
|Vale ofGlamorgan
Festival||||||||5,000|
|Longborough
Opera||||||||4,500|
|Agatha
Christie Festival||||||||2,500|
|Charitable
commitments|(balance)|||||325,500||153,966|
|HM Revenue
&Customs - VAT||||||123,586||35,073|
|Mousetrap
Charitable
Trust|—miscredited||royalties|||17,354|||
|Accountancy
and related administration||fees||||10,302||17,610|
|Audit fees||||||12,000|||
|Consultant
director's fees and expenses||||||2,400||2,400|
|Independent
examiner's
fees||||||2,100||2,100|
|||||||F 493,242|E|211,149|
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||||2023||2022|
|---|---|---|---|---|---|
|CREDITORS - Amounts|falling due in more than one year||E|||
|Charitable
commitments:||||||
|Welsh
National
Opera|Limited||170,985||332,112|
|Opera Rara|||28,702|||
|Sinfonia Cymru|||12,136|||
|Mid Wales Opera|||9,709|||
|||E|221,532|f|332,112|
##
|may ho|ld else|wh|ere
is|not dep|endent
on fu|nding
fro|m charity.|||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Commitments||Balance|
|Charity|||||Reg no.|Connected||Position|2023|2022|at|
|||||||Person|||||31.3.23|
||||||||||8|9||
|The Aloud Charity|||||1147922|Rebecca|Evans|(1)see below|15,000|||
|Forget-me-not||Chorus|||1151812|Rebecca|Evans|(1)see below||||
|Penarth|Chamber||Music|Festival|1195835|Rebecca|Evans|(2)see below|5,000|||
|Agatha|Christie|Festival||Ltd|09245332|Mathew|Prichard|Director|7,500|||
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|UND RE|CON|CILIA|TION|||||||
|---|---|---|---|---|---|---|---|---|---|
||||||Balance at||||Balance at|
||||||1 April|||Gains/|31 March|
||||||2022|Income|Expenditure|(losses)|2023|
||||||E||f.|E||
|Unrestricted||Funds:||||||||
|Capital
Fund|||||950,705|||(43,172)|907,533|
|Income Fund|||||238,774|1,135,043|(587,593)||786,224|
|Total Funds||||f|1,189,479|f 1,135,043|f (587,593)|E(43,172)|f1,693,757|
||||||Balance at||||Balance at|
||||||1 April|||Gains/|31 March|
||||||2021
6|Income|Expenditure
6|(losses)
f.|2022|
|Unrestricted||Funds:||||||||
|Capital
Fund|||||969,332|||(18,627)|950,705|
|Income Fund||||||440,703|(201,929)||238,774|
|Total Funds|||||f 969,332|f440,703|f (201,929)|f (18,627)|f 1,189,479|
|ANALYSIS OF NET ASSETS|||||BETWEEN FUNDS|||||
||||||||Income|Capital|Total|
|2023|||||||Fund|Fundf|2023|
|Intangible|assets|||||||472,909|472,909|
|Debtors|||||||312,515||312,515|
|Cash|||||||1,188,483|434,624|1,623,107|
|Creditors|(amounts||due|within|1 year)||(493,242)||(493,242)|
|Creditors|(amounts||due|in more than
1 year)|||(221,532)||(221,532)|
|Total Funds|||||||K 786,224|f 907,533|f.1,693,757|
||||||||Income|Capital|Total|
||||||||Fund|Fund|2022|
|2022|||||||8|8||
|Intangible|assets|||||||516,081|516,081|
|Debtors|||||||207,854||207,854|
|Cash|||||||574,181|434,624|1,008,805|
|Creditors|(amounts||due|within|1 year)||(211,149)||(211,149)|
|Creditors|(amounts||due|in more than
1 year)|||(332,112)||(332,112)|
|Total Funds|||||||f 238,774|f 950,705|f1,189,479|
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|15.|FINANCIAL
INSTRUMENTS||||||||2023|2022f|
|---|---|---|---|---|---|---|---|---|---|---|
||The carry amounts
ofthe charity's||financial||instruments||are as follows:||||
||Financial assets||||||||||
||Measured
at fair value through|SOFA:|||||||||
||- Intangible
fixed asset reversionary|||interest|||||472,909|516,081|
||- Cash at bank||||||||1,623,107|1,008,805|
||Measured
at amortised
cost:||||||||||
||- Debtors||||||||312,515|207,854|
||Financial liabilities||||||||||
||Measured
at amortised
cost||||||||||
||- Accruals and other creditors||||||||44,156|22,110|
||The
income,
expenses,
net|gains||and|net|losses|attributable|to the|||
||charity's
financial
instruments|are summarised||||as follows:|||||
||income and expense||||||||||
||Measured
at fair value through|SOFA:|||||||||
||Change
in fair value of reversionary|||interest|||||(43,172)|(18,627)|